topic Re: My Personal Story in Rebuilding Your Credit

My Personal Story

Random_idiot — Tue, 09 Aug 2016 01:26:00 GMT

By my signup date, I'm sure you all can tell that I've known about these forums for a long time.

I took a break from it for about 2 years now. When I first signed up, I had 8 Hard inquiries, 2 late payments, and a card with high uti.

Fast forward to 4 weeks ago, all my hp are gone, however, I did not decrease my uti until about 2 weeks ago as I did not know that the main thing holding my scores down was that. (and my late payments, which I have 1 in the past year, March 2016).

I have not only made a payment, but also got a CLI on my cap 1 card, so my overall utilization should be less than 10%.

My current scores are based off of a high uti (79% overall) and a recent late payment.

I am curious to see what my new score will be with the new utilization.

As of now, I make about 45k. However, I do not have a Mortgage, as I paid off my home. So i'm blessed in that way. My overall costs are low, as I am able to do (35% bills, 33% savings, and the rest on entertainment).

My current plan is to wait until my scores are updated, then apply for the Chase Freedom and Chase Sapphire Preferred. Most likely the freedom will get approved, as the CSP likes to see a history of good standings on cl of 5k+ (my highest is only 1.75k).

I will keep you guys updated on my road to credit score improvement, with a brief story of what new cards I am applying for.

Wish me luck!!

Re: My Personal Story

Anonymous — Tue, 09 Aug 2016 02:41:17 GMT

Hope good things come your way.

Re: My Personal Story

Anonymous — Tue, 09 Aug 2016 04:36:59 GMT

Great Progress!

Good to see you have a plan, hang in there.

Best Wishes.

Re: My Personal Story

Random_idiot — Tue, 09 Aug 2016 14:45:12 GMT

GOAL: To get CSP + freedom.

Plan A: wait for scores to update, then apply for CSP first then Freedom. If CSP is denied, onto plan B.

Plan B: apply for freedom and discover it. So i can utilize 2 5% cash back cards while keeping under 5/24 rule to apply for CSP again within 6 months.

Thoughts?

Re: My Personal Story

Random_idiot — Thu, 18 Aug 2016 23:29:07 GMT

So finally got a notification that Cap 1 reported the new data.

Tomorrow my CCT scores update, so I should have a feel of where I am exactly, and go from there..

Re: My Personal Story

Anonymous — Thu, 18 Aug 2016 23:39:10 GMT

@Random_idiot wrote:
So finally got a notification that Cap 1 reported the new data.
Tomorrow my CCT scores update, so I should have a feel of where I am exactly, and go from there..

If you have had the Cap One card for a while, you should app for a second one (QS1), and get that one upgraded to QS... Then in 12 months combine them. Make sure you get your CLI's every six months too.

Re: My Personal Story

Random_idiot — Thu, 18 Aug 2016 23:42:10 GMT

@Anonymous wrote:
@Random_idiot wrote:
So finally got a notification that Cap 1 reported the new data.
Tomorrow my CCT scores update, so I should have a feel of where I am exactly, and go from there..
If you have had the Cap One card for a while, you should app for a second one (QS1), and get that one upgraded to QS... Then in 12 months combine them. Make sure you get your CLI's every six months too.

Yup, had this cap 1 for 5 years!!! and finally req a cli last month after rediscovering this board. I will def look into this.

Re: My Personal Story

Random_idiot — Fri, 19 Aug 2016 00:08:59 GMT

So I ended up applying for the CSP.. instantly approved for 5k!!!

Re: My Personal Story

Random_idiot — Mon, 21 Nov 2016 14:44:44 GMT

UPDATE: Wow, have the tides changed for me..

Sitting at a total CL of 25K!! It's possible people! Hard work, read the forums for advice and don't be scared to go for it!

wow.. still in shock!

Re: My Personal Story

Anonymous — Mon, 21 Nov 2016 20:18:25 GMT

@Random_idiot wrote:
UPDATE: Wow, have the tides changed for me..

Sitting at a total CL of 25K!! It's possible people! Hard work, read the forums for advice and don't be scared to go for it!

wow.. still in shock!

All that in just 4 months? Congratulations! Well done!

Very inspirational. I hope to be saying that soon myself and also report that I am finally a proud homeowner!

Re: My Personal Story

surferchris — Tue, 22 Nov 2016 19:24:48 GMT

Congrats on the great progress!!!

Re: My Personal Story

Random_idiot — Thu, 12 Jan 2017 05:49:39 GMT

Jeeze out of nowhere, my score jumped from 673 to 688 on TU..

Things looking really good for 2017!!

Im just going to cool off for the next couple of months and apply for the Chase IHG!

Re: My Personal Story

Random_idiot — Thu, 12 Jan 2017 14:58:46 GMT

So basically, the reason for the jump (although 15 seems way too high), was because of Discover posting my new spending limit, from 8k to 9.5k, keeping my uti below 14%.

Should only increase once my Chase cards report in a couple of days (zero balance from 3k last month), as I paid my balance off early.

Re: My Personal Story

Random_idiot — Mon, 16 Jan 2017 16:49:35 GMT

exp score went up from 673 to 679.