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Off to Gardening I go

dpsyche4
New Contributor

Off to Gardening I go

Although I have many collections (13) to be exact, I managed to get 2 unsecured credit cards (Capital One QS1 - $500, Merrick Bank - $600) and 2 secured credit cards (Discover - $200, First National Bank of Omaha - $300). I have already set up payments on 4 of those 13 accounts. Working on paying all the others off as well, but I haven't had time to sit and negotiate (it was super extensive process last time). Additionally, I have 2 student loans (NAVIENT), and an auto loan (SANTANDER). So my working base is set. It took me a while to be able to get these in place but they are all current. I currently carry a balance on the Discover card of $24. Is it recommended that the payment due date is changed to be the same across all cards for gardening purposes? 

 

FICO 8 Scores:

Experian 596

Transunion 609

Equifax 572

 

Other than working on the baddies, any other recommendations to get these scores to sore high? 

Message 1 of 9
8 REPLIES 8
K-in-Boston
Moderator

Re: Off to Gardening I go

Congrats on your approvals and all of the hard work!  For gardening purposes, due dates and statement dates don't matter.  The only requirement for gardening is not opening any new tradelines and not taking any hard pulls for additional credit.

Message 2 of 9
oldman87
Valued Contributor

Re: Off to Gardening I go

Synchronizing due dates, therefore statement dates helps with card management, nothing to do with gardening, all of my 9 cards (2 business) close within 3 days of each other which makes managing a lot easier.

 

You mentioned "carrying balance" of $24 on the Discover, do you mean "reporting balance"? Carrying balance means you're not paying statement balance off by due date therefore paying interest, don't do that, especially for $24, unless you have to.

 

Welcome to the Garden.

Message 3 of 9
dpsyche4
New Contributor

Re: Off to Gardening I go


@oldman87 wrote:

Synchronizing due dates, therefore statement dates helps with card management, nothing to do with gardening, all of my 9 cards (2 business) close within 3 days of each other which makes managing a lot easier.

 

You mentioned "carrying balance" of $24 on the Discover, do you mean "reporting balance"? Carrying balance means you're not paying statement balance off by due date therefore paying interest, don't do that, especially for $24, unless you have to.

 

Welcome to the Garden.


Correct. Reporting. I pif by the due date

Message 4 of 9
srloring13
Regular Contributor

Re: Off to Gardening I go

Why type of collections accounts are they?  Are you still within the statue of limitations for each of the accounts for your state?  How long ago did the original accounts first go delinquent?


Gardening since 06/01/2019
FILED CH7 BK 02/25/13 -- DISCHARGED 06/10/13
Starting Scores 06/10/13 EQ474 EX538 TU503
Message 5 of 9
Obed1
Valued Member

Re: Off to Gardening I go

Hello my name is obed and iam new to the forum and I want to know how to join the garden
My credit score 7/17/2019
EQ: 687 || TU: 708 || Ex: 667
||Capital one: 500 || Credit One: closed || Target: 300
Store Credit Card: 1800 || Citi DC: 700 || Discover It: 2000




LAST_HP_DATE
Gardening until: 2023
Message 6 of 9
HeavenOhio
Community Leader
Senior Contributor

Re: Off to Gardening I go

@Obed1, hop over to this thread in the Personal Finance forum. Say hi, and the moderators and community leaders in that forum will get you going.

 

Garden Club - November 2018

 

@dpsyche4, your due dates have to do with how you prefer to pay. Some like payments due around the same time of the month. Others like to spread them out throughout the month.

Message 7 of 9
GeraldBass
New Visitor

Re: Off to Gardening I go

I think we need to take out the time in order to solve this problem, but this is not as big. Already having the collections and so many secured credits card does not involve any problem.

Message 8 of 9
dpsyche4
New Contributor

Re: Off to Gardening I go

Just an update:

 

As of the 13th my scores are as follows:

 

Experian: 605

Transunion: 623

Equifax: 596

 

This is just having paid debt on time and reporting balances on some of the cards and pif by due date. Have also been paying 4 collection accounts. Come next month two of those accounts will be paid off. Next step will be to have them removed from my credit report. Really excited about this journey. Have been looking into real estate properties because purchasing a home is my ultimate goal.

 

 

 

 

Message 9 of 9
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