Welcome @Mhogle1986
Paying them back wont do much. As long as the BK is on your reports. No go. While your here. "Prob because of the BK and high balances on my cards." Get your balances down. If you cant pay it. Dont charge it. Dont let history repeat itself. Yes your scores will climb as you pay down the debt. CC Util % can beat down a score really easy.
@FireMedic1 wrote:Welcome @Mhogle1986
Paying them back wont do much. As long as the BK is on your reports. No go. While your here. "Prob because of the BK and high balances on my cards." Get your balances down. If you cant pay it. Dont charge it. Dont let history repeat itself. Yes your scores will climb as you pay down the debt. CC Util % can beat down a score really easy.
@FireMedic1 I can't seem to get approved for Discover secured either. So I moved along and got a Cap1 secured. I have 4 small baddies totalling $3k that are from 2018. I've only just begun my rebuild less than 2 months ago. I have chimed in on a few things here to ask questions even to you...so I have a other question I'm trying to figure out:
Do I pay these collections off this late into their age even if I can't get a PFD or doesn't it help at this point? I want my scores to grow now, not in another 1.5 years when these CO and collections fall off. I don't understand the ins and outs of this game yet as far as to pay or not to pay them. I don't have a BK but these 4 baddies are a thorn in my side. At the time I applied and was denied by Discover I only had 1 brand new open account from 1 inquiry across all 3 CRA''s thanks to Cap1 secured. I also have a NFCU secured now so that's 2 secured cards but Discover I think hates my profile. I'm sitting at FICO 600 EQ now but I was at 524 when I tried for Discover. The new accounts helped me jump but now I want to grow.
Need to know the names of the CA's. You may have some or all that PFD. Lets get that fixed first. Then it can help which way to go to get a couple cards.
@FireMedic1 wrote:Need to know the names of the CA's. You may have some or all that PFD. Lets get that fixed first. Then it can help which way to go to get a couple cards.
@FireMedic1 Ok, then here goes my uglies:
Collections: ~ from March 2018 ~
1.) AR Resources
2.) LVNV Funding
And:
Charge off's ~ from March 2018 ~
1.) Kohl's (Capital One)
2.) Firestone (Credit First NA)
Totalling $3k. I'm still looking at a little under 2 years before they drop off or any EE is granted. No BK but also NO OTHER credit except one closed/Paid as Agreed account in 2016 with Victoria Secret. My reports would be blank if it weren't for that.
With these 4 baddies and the one closed Victoria Secret positive account I wasn't able to get Disco but I did get NFCU and Cap1 Platinum secured cards.
Quite a bit happened just in 1 month from adding 2 new open accounts.
Scores: FICO 8 on myFICO
Apr. 1, 2023 = EQ 524, TU 497, EX 519
May 25, 2023 = EQ 600, TU 543, EX 548
I can't decide if Discover's bigger issue the no credit or the CO and CA but I want to rectify it so it stops standing in my way sooner than 2025 when this stuff falls off.
Well getting down to it. Outside of the VS card. All accounts went south. That scared Disco. LVNV will PFD once settled or paid. Are the 2 collections for Kohls and Firestone? If yes. Do both of them show a $0?
@FireMedic1 wrote:Well getting down to it. Outside of the VS card. All accounts went south. That scared Disco. LVNV will PFD once settled or paid. Are the 2 collections for Kohls and Firestone? If yes. Do both of them show a $0?
Oh yes, 2018 was a very bad time. The Kohl's and Firestone show a closed charge off with a past due balance of about $750 each. The collections are the LVNV and the AR Resources - both Medical. I can pay them all so I just wanted to know if I should or if it's too late to bother now with less than 2 years left and they'll drop off and it's going to take 2 years to grow and reach 700 scores with these new accounts maturing. I've piggybacked off of my husband all this time and I want my own good credit for that Explorer ST that I told you about. 😉