topic New to the Community in Rebuilding Your Credit

New to the Community

Anonymous — Thu, 19 Jan 2017 09:07:14 GMT

Hello all I just ordered myFico scores today. They are a lot better than what the Fakos were. After receiving my credit reports and scores, I disputed three items on two reports. I'd already disputed the same ones with TransUnion and they were removed. Hoping for the same with the other two. I started the downhill slide on my credit about 20 years ago. Last August, I received a pre-approval in the mail for a Capital One Platinum card. Applied, waiting to get denied. I was shocked to be approved. Although my limit was only $300 it was a start. So, I signed up for CreditKarma and took the bait for other cards I qualified for, trying to increase my overall limit for utilization purposes (still not even understanding the whole utilization thing).

I also tried the SCT and accidentally got two VS cards. The first pop-up was a 7-10 day message, so I thought it was a denial. Got the pop-up again soon afterm applied again and was approved. Was surprised to get two cards in the mail. Apparently the 7-10 day message was still an approval. Had I known all the new cards would decrease my age of accounts, I would have hit the brakes. Live and learn.

Last month, while chatting with a Capital One CSR about an account question, I was offered to upgrade my platium card to a QuickSilver. So, got that one. I use it for literally everything and love the cash back and no annual fee.This morning I looked at my Credit One account and seen it had an auto increase to $700. I haven't used that card at all since paying the upfront fee when I got it last month, so that was a shocker. I was going to let it sit a while, but decided to go ahead and use it for this myFico account since they were nice to me

The Merrick line is supposed to double, so we shall see. Overall, I'm done applying for credit until my score is high enough for decent cards. Depeding on when that is, I may get rid of the "bad credit" cards with the annual fees. I really just want to maintain my QuickSilver card (really wish they would give me a decent cli though) and obtain a travel rewards card. If I'm offered other prime cards when the time comes, I may take them just to have them available.

So, that's my story and what's in my wallet. I look forward to growing my scores and sharing progress with the community!

Re: New to the Community

gdale6 — Thu, 19 Jan 2017 16:49:12 GMT

Good progress so far, enjoy

Re: New to the Community

Anonymous — Thu, 19 Jan 2017 21:50:59 GMT

Thank you

Re: New to the Community

MrsCHX — Fri, 20 Jan 2017 01:08:21 GMT

Congrats OP! The journey can be a little long but worth t. And you're not starting off TOO badly.

The Merrick WILL double. The VS will grow eventually. And your Capital One should increase every 6 months. Hang in there!

Re: New to the Community

elim — Fri, 20 Jan 2017 01:27:50 GMT

That is exactly where my scores were when I joined. I did a 4 card spree then hit the garden for 6 full months. I then app'd ONLY for Visa Sig's to get the 5k minimums and gardened again for 6 full months. After that I could get most anything... 10k limits, good auto rates, etc. (with 700ish scores and a major derog on all 3)

Hang in there and you will have good scores (and limits) next year. Be sure to be involved with the forum most days and it will work.

I like this link...

http://ficoforums.myfico.com/t5/forums/unreadpostspage/tab/thread

Re: New to the Community

Anonymous — Fri, 20 Jan 2017 13:52:17 GMT

Thank you all so much for the encouragement I'll be sure to post updates. From what I've seen, this community is very encouraging and educational. Thanks again!