Is LOC different from the Credit line you get when opening a new CC?

[EdwardMH]

Thank you all for your assistance I will keep you posted

[Anonymous]

Well that's great. Good luck, I hope the baddie is dropped for good. Seeing your how your scores pan out, they will rise from the baddie removal, maybe they will dip back down a little from the new NFCU card. What is your timeline to prep for being mortgage ready? 

[EdwardMH]

Now would be nice but I would like it before 5 years. Of course in that time IF I keep saving the $950 + add the extra  when my car is paid off I will have about $78,000 saved in 5 years

[EdwardMH]

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@Anonymous wrote:

I think he could get approved with Amex with the collection.  We need for him to get his EX score up

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As of today my EX score went up from 629 to 666 due to my new NFCU Cash Rewards $8,500 limit Credit card showing up.

[EdwardMH]

OK! Update!!! Just called NFCU to see what the Navcheck account was approved for and I thnk I will have a stroke. I got the full $15,000 @ 15.09% interest. I mentioned to the lady that I was working on my credit score and she had the following suggestion tell me what you all think please. Instead of applying for the secured credit card attatched to my seperate savings account (you all suggested I do not need a secured card) She suggests I wait 3-6 months and apply for a secured Share Pledge Loan using that savings account which will have lower interest rate than a secured card and still report to all 3 Credit agencies. This a good idea?

[EdwardMH]

Newest update, I pulled my free anual credit report ant I has NO COLLECTIONS listed (there is a old Closed account for my Jeep loan through Bank of America that had late payments on it befor I paid it in full that is listed as potentually harmful account). I am not sure if the free reports are different than what I get from MyFico or my USAA that I pay for or not so will wait till those are updated to be sure.

[Anonymous]

Do you know which report it was? There are three. You should be able to get a free report from each bureau every year. EQ, TU and Ex.

[EdwardMH]

I pulled all 3 the collection that was on Equifax and Experian last week on MyFico were not showing on the Free Credit reports.

[Anonymous]

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@EdwardMH wrote:

Not true Irish I am sitting here with my Tea as well thank you very much! LOL As far as what credit cards I "WANT" No clue. Most of my money spending goes toward Food, and Astronomy equipment, Hotels on the rare times I travel. Was trying to decide between buying my first home or a RV LOL Just think I will get a VA loan easier than a Recreational vehicle loan.

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Benefits of the RV, taking your telescopes to select spots and working the skies Would need some credit cards to buy gas and vehcile maintenance ... Yeah. Maybe you could do some more work on lost planets and black holes (back to my Astronomy days).