Anyone want to give feedback on my plan?

[Anonymous]

With all the great advice being exchanged in this forum, I thought I would put my plan out there and see if anyone has feedback. This is for my CR. I also have a plan for my fiance's CR that I will post separately in the future. In addition to the items listed below, I have a defaulted student loan that I am in month 6 of rehabbing, though it mysteriously disappeared from my credit report around month 2 or 3. I'm fully expecting it to magically reappear someday. I would love to know where I should go next and if you have an opinion on what you think might happen with my score, I'd love to hear that too! Some of my questions:

Should I apply for another revolving account and if so, when (at what score)?

Should I apply for an installment loan. If so, when (at what score) and what kind is the easiest to get? I do not want to take on a car payment at this point for no reason (even though I'd love to have a new car!) We need new furniture; would that be a good option?

Thank you!

Credit Card - HSBC Bank

Balance/Limit: 152/200

Opened: 11/05/07

No lates

Note: Reporting on TU, EX, EQ accurately

Plan: My plan right now is to regularly use this card and pay most of it off each month, trying to get a CLI.

Credit Card - Bank of America (Authorized User)

Balance/Limit: 4227/18000

Opened: 10/2000

No lates

Note: Reporting on EX only. Hoping that it will get picked up by the other two.

Plan: Nothing. Just ride it as long as AUs are counted. Try to get some other credit established in my name before it goes away.

Paid Collection - CA Credit Systems Intl / OC Oklahoma Natural Gas

Balance/Orig Balance: 0/202

Opened: 08/01/06

Note: Acct in good standing since this was paid. Reporting on TU, EX, EQ accurately.

Plan: Wrote GW letter to both CA and OC; mailed 12/31/07.

Unpaid Collection – CA CMI / OC At Home Entertainment Cable

Balance/Orig Balance: 440/440

Opened: 7/7/06

Note: Reporting on TU, EX, EQ accurately.

Plan: Already called them to find out what this was for. Apparently my former roommate didn’t return cable equip. Not sure if I should PFD since I already talked to them. At the time, they told me to check with him to see if he still had the equip. (He doesn’t.)

Unpaid Collection – CA North American Collections / OC Comcast Cable

Balance/Orig Balance: 496/496

Opened: 4/1/02

Note: Reporting on TU only.

Plan: Right now, I was planning to let this one ride to see how much it affects my score after I do all the other work I’m planning to do. It should fall off my report on 04/09 anyway.

[Anonymous]

CA CMI- I would PFD - Could ask ex-roomate to pay you or sue them

CA North American Collections - contact Comcast Cable and see if they will PFD.

[Anonymous]

On the unpaid collections......the date that you are showing, Is this the date that the CA is showing??

Unpaid Collection – CA CMI / OC At Home Entertainment Cable

Balance/Orig Balance: 440/440

Opened: 7/7/06                       what was the date that you turned it in?

If so it is the date that they were assigned or bought the debt...It is not the DOFD or DOLA. This would be when you made your last payment!!!

What is your SOL?    What is the  DOLA or DOFD?   

Unpaid Collection – CA North American Collections / OC Comcast Cable    You MIGHT be past SOL and that would make it easier to PFD

IMO  always DV the CA   CMRRR  before PFD!!      NEVER talk to a CA!! everything in writting!! Never sign a DV  just type your name!!!!

[fishbjc]

Follow the PIF formula for your HSBC account well before the due date so it reports as ZERO.

[Anonymous]

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@fishbjc wrote:

Follow the PIF formula for your HSBC account well before the due date so it reports as ZERO.

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What behavior (other than timely payments) do CCCs want to see for a CLI? I was kinda thinking I would be willing to take a temporary hit on my credit score in order to get a CLI as soon as possible. Will PIF (which I have actually been doing, just apparently not at the right time of the month) still lead to a CLI eventually? Thanks!

[Anonymous]

On your HSBC card you should pay your account and leave $20 as your balance. You'll get all the points you can from that.......Once I left my balance at 70% of my CL big no no my score dropped like 10-15 points. Don't forget to call your CCC and ask for CLI after 6 months and again after a year. They don't go crazy but they most likely will raise it like $100-$150 dollars. (FYI- It helps if you use your card for things you already have in your budget like gas you know you use it and best of all you won't go overboard lol)

About the cable box ask your friend to pay half of the original bill and then call and try to settle the acc. using that money. You may have to cough up some extra money but atleast you won't be stuck with all of it.......... It doesn't hurt to ask.

Your right about the other cable bill you won't be able to get great credit in a year so why dig into money that can go towards another bill.

[Anonymous]

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@Anonymous wrote:

On your HSBC card you should pay your account and leave $20 as your balance. You'll get all the points you can from that.......Once I left my balance at 70% of my CL big no no my score dropped like 10-15 points. Don't forget to call your CCC and ask for CLI after 6 months and again after a year. They don't go crazy but they most likely will raise it like $100-$150 dollars. (FYI- It helps if you use your card for things you already have in your budget like gas you know you use it and best of all you won't go overboard lol)

About the cable box ask your friend to pay half of the original bill and then call and try to settle the acc. using that money. You may have to cough up some extra money but atleast you won't be stuck with all of it.......... It doesn't hurt to ask.

Your right about the other cable bill you won't be able to get great credit in a year so why dig into money that can go towards another bill.

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Thanks Mrsmari. I will do what you say with the HSBC card. I already only use it for things I would be buying anyway.

My friend has suggested he might pay for half of it, but I'm not going to hold my breath. If it comes down to it, I'll pay it. I would just LOVE to have it deleted afterwards!

So...your last comment depresses me. :-) I was hoping to buy a house this year. It sounds like that might not be a possibility. You don't think there's any chance my credit can improve a lot in a year?

[Anonymous]

It's tough to say I started out 1 year ago fixing up my credit and it went from 597 to 645. I'm up to a FAIR CREDIT rating but not good  ........... YET 

[igdycsmG6]

TIM, Would you PFD CMI (credit management) first or DV. I heard their tough to deal with so I want to attempt the most effective method first. Time warner Cable bill. Thanks