topic Re: Credit milestone ! in Rebuilding Your Credit

Credit milestone !

Conraddj — Fri, 11 Feb 2022 02:11:47 GMT

Woke up to this today , after a year of rebuilding my credit . The last piece of the puzzle happened today , my charge off has finally fallen off ! I am super excited . Any thoughts what this score can do for me?

Re: Credit milestone !

gdale6 — Fri, 11 Feb 2022 03:27:35 GMT

Sweet, grats to your rebuild success!

740 gets you most anything you want.

Re: Credit milestone !

Red1Blue — Fri, 11 Feb 2022 03:34:07 GMT

Congratulations. 740 is a great score

Re: Credit milestone !

Fico82 — Fri, 11 Feb 2022 05:12:34 GMT

Congrats ! Definitely a great feeling 740 sure does open the doors !!

Re: Credit milestone !

pizzadude — Fri, 11 Feb 2022 05:18:31 GMT

Congrats on losing the CO and hitting the 740s ! Your score is in great shape, keep it up !!

Re: Credit milestone !

FireMedic1 — Fri, 11 Feb 2022 11:01:53 GMT

Nice. Congrats on your new credit life. Pick a card basically now. Lots of doors just opened. Notice "A" card. Dont go hog wild.

Re: Credit milestone !

Reviewers — Fri, 11 Feb 2022 12:10:28 GMT

Congratulations on your success!

Re: Credit milestone !

Conraddj — Fri, 11 Feb 2022 12:23:31 GMT

Which card would you choose?

Re: Credit milestone !

FireMedic1 — Fri, 11 Feb 2022 18:01:38 GMT

Just my vote to get out of subprime. Good ole Discover. You cant beat the cash back match. That will get your foot into prime time. Then each 6 months. Grab a prime, close a sub prime. Set a score and use that as your guide. Each time I hit 720. Got a crd. Score drops from new account. Score goes back up to 720. Next. Whats below took 5 yrs from the bulk of them. PENFED is kinda recent. When I was 740's 7 months ago. I went for Home Depot, Loews, Shell, and got the truck I was a year old homeowner now, and needed to do some improvements. in 6 weeks. Its a numbers game. In time all the subs will be gone. And your wallet will have nice prime cards. Takes time. It wont happen fast. But you'll get there. My siggy was blank when I joined here. It crowed now from learning here and here only. You got his.

Re: Credit milestone !

Conraddj — Sat, 12 Feb 2022 02:13:48 GMT

I burned discover and Wells Fargo those were my two charge offs . I took advantage of my relationship with Amex the other day and pulled the trigger on a BCE this was before my sudden spike in score I had a 654. My question is if I wait for Amex to grab this new score do you think they will increase the limit of that . I should mentioned I got stuck in the $1000 club which I've read and re-read gets bucketed for years.

Re: Credit milestone !

RSX — Mon, 14 Feb 2022 20:22:29 GMT

Congrats! - that is great

personally i would go for 1 good card - Chase (if under 5/24) - Citi - PenFed

then i would close the cards i noted below

you have a good mix - but you are spreading your spend around too much (likely)

so if you pare down the starter cards, you can focus spend on a couple of cards to initiate a CLI - then switch to some other cards - rinse and repeat

Victoria Secret $350 - Close
Amazon Store $400
OpenSky-$400 - Close
NFCU Secured- $550 - Close - since you have 2 othert NFCU - unless it is close to graduating
Mission Lane- $750 -Close
Apple Card- $850
Jasper- $1000
Amex Delta Gold- $1000
Amex Blue Cash Everyday $1000
NFCU Platinum- $1000
Merrick- $1100 - Close
Aspire MasterCard - $2000
Sofi MasterCard- $3500
Capital One QS- $5000
Overstock- $6500 - Close
NFCU More Rewards AMEX - $6500
Amex Green - NPSL
Amex Gold-NPSL

Re: Credit milestone !

Sanjo812 — Thu, 17 Feb 2022 17:38:33 GMT

Congratulations! Good that the CO fell off. I'm not sure exactly what the best move is with your 740, but just continue to build responsibly.

Re: Credit milestone !

Dp23 — Fri, 18 Feb 2022 00:18:35 GMT

Congrats on your rebuild. My last charge off falls off June 18th, I will try to EE it before that

Re: Credit milestone !

DarlingNola — Fri, 18 Feb 2022 00:32:45 GMT

Congratulations @Conraddj 🎊🍾🎈

I know from personal experience that playing the waiting game is hard, so I know you've got to be excited! I recently had my last CO fall off 2/3 of my reports as well.

Re: Credit milestone !

Conraddj — Sun, 20 Feb 2022 01:06:52 GMT

You suggest I keep the Amazon store card open?

Re: Credit milestone !

RSX — Sun, 20 Feb 2022 16:49:03 GMT

keep it open Only if you use it on Amazon. Otherwise it would also be a good one to close