topic Re: Rebuilding ... but making progress! in Rebuilding Your Credit

Rebuilding ... but making progress!

looking335 — Sun, 03 May 2026 01:20:01 GMT

On 4/20, I was talking with a rep from Chevron FCU about a personal loan. I have 3 personal loans with HIGH interest rates (>25%). My credit scores have improved but did not want to suffer an HP unless I had a chance at getting a personal loan with better interest rates to consolidate those 3. With my current score (I mentioned 650 or better), she noted I would likely not get the amount I was asking. I mentioned I used their See If I'm Pre-Approved tool for their Zero+ card and it said I was pre-approved. I asked if I could apply for that. She said the HP could be used to apply for other services as long as it was within 30 days (though she wasn't sure if it was 30 or 60). On 4/21, I received an E-Mail congratulating me on approval for the card and noting my SL was $7,000. I had to read that starting limit several times. I have never had a credit card with that high of a credit limit. A few days later I received their credit report letter in the mail. For anyone interested:

Joined Chevron FCU: 2/20/2026

Credit Score: 704

Source: Equifax

Date: 4/20/2026

1 collection

On 5/1/2026, I called back and applied for the personal loan and a personal line of credit. Additionally, my current auto loan rate is 9% and she noted it looked like I could refinance at 6% so we went ahead and submitted an application for auto refinance. Will find out the results of those 3 applications next week.

If I omitted providing any data points on the credit card approval, please let me know. I know it sounds silly but still in shock I got such a credit limit. I have a CapitalOne Savor for Good Credit that received a $1000 increase last month ($3400 - new limit). I also have a NFCU credit card still sitting at the initial $3700 credit limit for the past several years ... never received any love thanks to my collection ... at least that is one of their reasons for the denial.

Re: Rebuilding ... but making progress!

1lifeisworthit — Sun, 03 May 2026 20:22:32 GMT

I think you have every reason to be feeling chuffed and puffed about that starting limit!

I'm very happy for you.

Is that Collection marked as paid or unpaid? Because a lot of times collections will be deleted if you pay them and that might help (depending on how old it is, I mean) your scores rise.

That 704, is that a FICO 8 based on Equifax reports? One of the other FICOs based on Equifax reports? a Vantage 3 based on Equifax reports?

I'm asking for data only. It's really none of my business but it's good to know for data purposes... and to compare our rebuildings.

equifax.com and creditkarma.com both show Vantage 3 (based on Equifax). myfico.com/free shows FICO 8

Re: Rebuilding ... but making progress!

looking335 — Sun, 03 May 2026 21:01:05 GMT

Thanks but it's really more of shock to see I am making progress (a long road, for sure!)

The collections is from Citi and was purchased by a collection agency. The DOFD is 12/07/2020. It is currently unpaid. The mess I made years ago was pretty big so doing what I can.

The score is what appears on the letter I got from Elan. It says "Elan Finanical Services - Your Credit Report and the Price You Pay for Credit". I monitor several different models and none of them reported a score over 700. For Equifax, I monitor FICO 5 (677), FICO 8 (672), and Vantage 3.0 (684). I remember seeing a similar document when I got my auto loan. Unfortunately I do not see anything on the paper that mentions a FICO model. There's a box where it lists the 704 credit score, cites the source (Equifax), and the date (4/20/2026). Sorry for my ignorance.

Re: Rebuilding ... but making progress!

dfwxjer — Thu, 07 May 2026 19:57:15 GMT

Congrats, it sounds like you're well on your way to consolidating that bad debt down to a much more manageable figure.

Re: Rebuilding ... but making progress!

pizzadude — Thu, 07 May 2026 20:53:21 GMT

Congrats on the approval and nice SL ! Hopefully you'll have success with the other loans and auto refi, it's great they can use the same HP as well.

I'm kind of surprised that you haven't have much luck with NFCU in growing your CL. Do you have any other products with them or much activity in your checking / savings accounts ?

Re: Rebuilding ... but making progress!

SusanJA — Mon, 11 May 2026 23:18:46 GMT

Congrats! Just use it wisely