topic Re: Tips for a quick credit boost? in Rebuilding Your Credit

Tips for a quick credit boost?

Anonymous — Tue, 23 Feb 2016 07:28:54 GMT

I'm trying to increase my credit score as quickly as possible because I need to find a new apartment in June. I've been working like crazy over the last week to fix my credit. Currently, my FICO-8 scores are 581(Ex), 586 (Eq), 605 (TU). I have one credit card with capital one with a $500 limit and 10 months history - never been late. I have $28,000 in student loans. I have 4 years of history on an auto loan. My scores are counting 8 collections, mostly from 2011/2012, but one is from 6 months ago. This last week I've cleaned up these collections quite a bit. I did a PFD on the new one from 6 months ago. I also did 3 more PFDs on old collections, and got a goodwill removal of an old paid collection from 2011. When the dust settles I'll just have 3 collections, two paid. The unpaid collection is a comcast $60 bill for equipment I believe I returned. Lastly, I have 4 charged off credit cards from 2012 all of which have been settled. I'm trying to get goodwill removals of these, but so far no luck.

I'm thinking that I should get one or two more credit cards and/or be added as an authorized user on my fiance's AMEX card which she's had for about a year. Is it better to get another card or be an authorized user? Would either provide a score increase by June?

Any other feedback is most appreciated!

Re: Tips for a quick credit boost?

AutoBot — Tue, 23 Feb 2016 10:51:03 GMT

Which CAP1 card do you have? Have you requested a CLI in the 10 months that you have had the card? Checked CAP1 to see if your prequalified for another card?

Capital One Prequalify

Re: Tips for a quick credit boost?

Anonymous — Tue, 23 Feb 2016 13:58:51 GMT

Utilization -- pay down open debt (or raise limits) -- paying down util has given me great boosts so far.

Re: Tips for a quick credit boost?

Anonymous — Tue, 23 Feb 2016 14:24:45 GMT

@Anonymous wrote:
I'm trying to increase my credit score as quickly as possible because I need to find a new apartment in June. I've been working like crazy over the last week to fix my credit. Currently, my FICO-8 scores are 581(Ex), 586 (Eq), 605 (TU). I have one credit card with capital one with a $500 limit and 10 months history - never been late. I have $28,000 in student loans. I have 4 years of history on an auto loan. My scores are counting 8 collections, mostly from 2011/2012, but one is from 6 months ago. This last week I've cleaned up these collections quite a bit. I did a PFD on the new one from 6 months ago. I also did 3 more PFDs on old collections, and got a goodwill removal of an old paid collection from 2011. When the dust settles I'll just have 3 collections, two paid. The unpaid collection is a comcast $60 bill for equipment I believe I returned. Lastly, I have 4 charged off credit cards from 2012 all of which have been settled. I'm trying to get goodwill removals of these, but so far no luck.

I'm thinking that I should get one or two more credit cards and/or be added as an authorized user on my fiance's AMEX card which she's had for about a year. Is it better to get another card or be an authorized user? Would either provide a score increase by June?

Any other feedback is most appreciated!

Two more cards will help, don't bother with the AU thing, not likely to help much. Three cards and keep UTI down and on one card only - thats the key to higher scores.

Re: Tips for a quick credit boost?

Anonymous — Tue, 23 Feb 2016 17:45:15 GMT

@AutoBot wrote:
Which CAP1 card do you have? Have you requested a CLI in the 10 months that you have had the card? Checked CAP1 to see if your prequalified for another card?

Capital One Prequalify

I currently have the Capital One Platinum card. I haven't asked for a CLI because the myFico simulator said it wouldn't increase my score, no matter how high of an increase I simulated. I checked the link you sent me and they suggested the platinum card and the QuicksilverOne card, which has a $40 dollar yearly fee.

I'm wondering if I should wait until those removed collections reflect on my score to see if I can prequalifly for better cards. What do you guys think?

Re: Tips for a quick credit boost?

Anonymous — Tue, 23 Feb 2016 17:48:02 GMT

@Anonymous wrote:
Utilization -- pay down open debt (or raise limits) -- paying down util has given me great boosts so far.

My utilization is currently very low, but I guess it wont hurt to ask for a CLI increase.

Re: Tips for a quick credit boost?

Anonymous — Tue, 23 Feb 2016 17:48:41 GMT

@Anonymous wrote:

Two more cards will help, don't bother with the AU thing, not likely to help much. Three cards and keep UTI down and on one card only - thats the key to higher scores.

Ok, thanks for the input!

Re: Tips for a quick credit boost?

Anonymous — Tue, 23 Feb 2016 18:30:29 GMT

Just got a call from Credit One bank. They are deleting my chargeoff!!

Re: Tips for a quick credit boost?

Anonymous — Tue, 23 Feb 2016 18:35:14 GMT

@Anonymous wrote:
@AutoBot wrote:
Which CAP1 card do you have? Have you requested a CLI in the 10 months that you have had the card? Checked CAP1 to see if your prequalified for another card?

Capital One Prequalify
I currently have the Capital One Platinum card. I haven't asked for a CLI because the myFico simulator said it wouldn't increase my score, no matter how high of an increase I simulated. I checked the link you sent me and they suggested the platinum card and the QuicksilverOne card, which has a $40 dollar yearly fee.

I'm wondering if I should wait until those removed collections reflect on my score to see if I can prequalifly for better cards. What do you guys think?

The simulators are fun to play with (sometimes) but they don't reflect the other tangibles that having larger CL's give you. You should absolutely check for a CLI (But I don't know how long you've had the card.). Higher CL's go a long way toward getting better accts and higher limits down the road. The immediate impact you are looking for from the simulator is only a very myopic view of the total picture.

If you've had the Plat. for over 3mths then try this, login and go to Live Chat. Tell the CS agent you are seeking a CLI. After the 3rd statement you shold qualify. Either way (if it's yes or no) ask them if you have any offers available on your account. They should tell you that you have an offer to upgrade you Plat to a QS. (1.5% cash back on all purchases and no AF). Take it. You should come out of the chat with a CLI and a Prime acct CC.

IF I were you I'd go ahead and get the QS1 as well. These 2 CC's will go along way

Re: Tips for a quick credit boost?

Anonymous — Wed, 24 Feb 2016 03:23:45 GMT

@Anonymous wrote:
@Anonymous wrote:
@AutoBot wrote:
Which CAP1 card do you have? Have you requested a CLI in the 10 months that you have had the card? Checked CAP1 to see if your prequalified for another card?

Capital One Prequalify
I currently have the Capital One Platinum card. I haven't asked for a CLI because the myFico simulator said it wouldn't increase my score, no matter how high of an increase I simulated. I checked the link you sent me and they suggested the platinum card and the QuicksilverOne card, which has a $40 dollar yearly fee.

I'm wondering if I should wait until those removed collections reflect on my score to see if I can prequalifly for better cards. What do you guys think?
The simulators are fun to play with (sometimes) but they don't reflect the other tangibles that having larger CL's give you. You should absolutely check for a CLI (But I don't know how long you've had the card.). Higher CL's go a long way toward getting better accts and higher limits down the road. The immediate impact you are looking for from the simulator is only a very myopic view of the total picture.

If you've had the Plat. for over 3mths then try this, login and go to Live Chat. Tell the CS agent you are seeking a CLI. After the 3rd statement you shold qualify. Either way (if it's yes or no) ask them if you have any offers available on your account. They should tell you that you have an offer to upgrade you Plat to a QS. (1.5% cash back on all purchases and no AF). Take it. You should come out of the chat with a CLI and a Prime acct CC.

IF I were you I'd go ahead and get the QS1 as well. These 2 CC's will go along way

Worked like you said. I now have a Quicksilver card. Just out of curiousity, for my second card why do you suggest QS1 over Platinum?

Re: Tips for a quick credit boost?

Anonymous — Wed, 24 Feb 2016 04:02:00 GMT

As for the Comcast collection, you can call Comcast and see if they will recall the debt. If they will pay them, and the CA will have to delete the account. I know you said you believe you returned the equipment but $60 is a small price to pay if you can get the collection gone.

Re: Tips for a quick credit boost?

Anonymous — Wed, 24 Feb 2016 07:45:03 GMT

quick silver one offers rewards 1.5% cash back and can be used to pay off your balance wont count as a payment thou.

Re: Tips for a quick credit boost?

Anonymous — Wed, 24 Feb 2016 13:51:03 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@AutoBot wrote:
Which CAP1 card do you have? Have you requested a CLI in the 10 months that you have had the card? Checked CAP1 to see if your prequalified for another card?

Capital One Prequalify
I currently have the Capital One Platinum card. I haven't asked for a CLI because the myFico simulator said it wouldn't increase my score, no matter how high of an increase I simulated. I checked the link you sent me and they suggested the platinum card and the QuicksilverOne card, which has a $40 dollar yearly fee.

I'm wondering if I should wait until those removed collections reflect on my score to see if I can prequalifly for better cards. What do you guys think?
The simulators are fun to play with (sometimes) but they don't reflect the other tangibles that having larger CL's give you. You should absolutely check for a CLI (But I don't know how long you've had the card.). Higher CL's go a long way toward getting better accts and higher limits down the road. The immediate impact you are looking for from the simulator is only a very myopic view of the total picture.

If you've had the Plat. for over 3mths then try this, login and go to Live Chat. Tell the CS agent you are seeking a CLI. After the 3rd statement you shold qualify. Either way (if it's yes or no) ask them if you have any offers available on your account. They should tell you that you have an offer to upgrade you Plat to a QS. (1.5% cash back on all purchases and no AF). Take it. You should come out of the chat with a CLI and a Prime acct CC.

IF I were you I'd go ahead and get the QS1 as well. These 2 CC's will go along way
Worked like you said. I now have a Quicksilver card. Just out of curiousity, for my second card why do you suggest QS1 over Platinum?

Great, did you get the CLI too?

Since you just PC'd out of that Plat you could go ahead and app another Plat. The issue is that I'm not sure if you can combine it into the QS at any point. I do know that at the 6mth point with a QS1 you could combine it into the QS and have 1 larger CC with a combined total of the 2 CL's.

Re: Tips for a quick credit boost?

Anonymous — Wed, 24 Feb 2016 14:19:49 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@AutoBot wrote:
Which CAP1 card do you have? Have you requested a CLI in the 10 months that you have had the card? Checked CAP1 to see if your prequalified for another card?

Capital One Prequalify
I currently have the Capital One Platinum card. I haven't asked for a CLI because the myFico simulator said it wouldn't increase my score, no matter how high of an increase I simulated. I checked the link you sent me and they suggested the platinum card and the QuicksilverOne card, which has a $40 dollar yearly fee.

I'm wondering if I should wait until those removed collections reflect on my score to see if I can prequalifly for better cards. What do you guys think?
The simulators are fun to play with (sometimes) but they don't reflect the other tangibles that having larger CL's give you. You should absolutely check for a CLI (But I don't know how long you've had the card.). Higher CL's go a long way toward getting better accts and higher limits down the road. The immediate impact you are looking for from the simulator is only a very myopic view of the total picture.

If you've had the Plat. for over 3mths then try this, login and go to Live Chat. Tell the CS agent you are seeking a CLI. After the 3rd statement you shold qualify. Either way (if it's yes or no) ask them if you have any offers available on your account. They should tell you that you have an offer to upgrade you Plat to a QS. (1.5% cash back on all purchases and no AF). Take it. You should come out of the chat with a CLI and a Prime acct CC.

IF I were you I'd go ahead and get the QS1 as well. These 2 CC's will go along way
Worked like you said. I now have a Quicksilver card. Just out of curiousity, for my second card why do you suggest QS1 over Platinum?
Great, did you get the CLI too?

Since you just PC'd out of that Plat you could go ahead and app another Plat. The issue is that I'm not sure if you can combine it into the QS at any point. I do know that at the 6mth point with a QS1 you could combine it into the QS and have 1 larger CC with a combined total of the 2 CL's.

I was able to combine my upgraded platinum cards. One of them even began life as an Orchard Bank card - which is the one that was closed.

Re: Tips for a quick credit boost?

Anonymous — Thu, 25 Feb 2016 00:39:59 GMT

@Anonymous wrote:
As for the Comcast collection, you can call Comcast and see if they will recall the debt. If they will pay them, and the CA will have to delete the account. I know you said you believe you returned the equipment but $60 is a small price to pay if you can get the collection gone.

I'm trying this, but they're playin hardball.

Re: Tips for a quick credit boost?

Anonymous — Thu, 25 Feb 2016 00:40:57 GMT

@Anonymous wrote:
quick silver one offers rewards 1.5% cash back and can be used to pay off your balance wont count as a payment thou.

True. But I was just thinking about having the extra card and not really using it. With QS1 I'd need to pay 40 bucks just to get the card.

Re: Tips for a quick credit boost?

Anonymous — Thu, 25 Feb 2016 00:41:47 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@AutoBot wrote:
Which CAP1 card do you have? Have you requested a CLI in the 10 months that you have had the card? Checked CAP1 to see if your prequalified for another card?

Capital One Prequalify
I currently have the Capital One Platinum card. I haven't asked for a CLI because the myFico simulator said it wouldn't increase my score, no matter how high of an increase I simulated. I checked the link you sent me and they suggested the platinum card and the QuicksilverOne card, which has a $40 dollar yearly fee.

I'm wondering if I should wait until those removed collections reflect on my score to see if I can prequalifly for better cards. What do you guys think?
The simulators are fun to play with (sometimes) but they don't reflect the other tangibles that having larger CL's give you. You should absolutely check for a CLI (But I don't know how long you've had the card.). Higher CL's go a long way toward getting better accts and higher limits down the road. The immediate impact you are looking for from the simulator is only a very myopic view of the total picture.

If you've had the Plat. for over 3mths then try this, login and go to Live Chat. Tell the CS agent you are seeking a CLI. After the 3rd statement you shold qualify. Either way (if it's yes or no) ask them if you have any offers available on your account. They should tell you that you have an offer to upgrade you Plat to a QS. (1.5% cash back on all purchases and no AF). Take it. You should come out of the chat with a CLI and a Prime acct CC.

IF I were you I'd go ahead and get the QS1 as well. These 2 CC's will go along way
Worked like you said. I now have a Quicksilver card. Just out of curiousity, for my second card why do you suggest QS1 over Platinum?
Great, did you get the CLI too?

Since you just PC'd out of that Plat you could go ahead and app another Plat. The issue is that I'm not sure if you can combine it into the QS at any point. I do know that at the 6mth point with a QS1 you could combine it into the QS and have 1 larger CC with a combined total of the 2 CL's.

They denied me for the CLI because they gave me one a few months ago. They raised it from 300-500.

Re: Tips for a quick credit boost?

Anonymous — Thu, 25 Feb 2016 00:44:17 GMT

NormanFH wrote:

I was able to combine my upgraded platinum cards. One of them even began life as an Orchard Bank card - which is the one that was closed.

I guess that settles it. I'll probably go with the platinum. Any chance I'll be denied since I just upgraded and was denied a CLI?

Re: Tips for a quick credit boost?

Anonymous — Thu, 25 Feb 2016 00:49:51 GMT

Btw, I just got a myfico alert saying a tradeline was updated. My chase credit card that was charged-off and settled had the "Last activity" section changed from 4/01/2012 to "Not on Record"

04/01/2012 ====> Not On Record

Could this possibly mean chase is goodwilling this tradeline?? So far this has only happened on equifax, and it didn't say my score changed.