I am so bummed. I pulled my EQ score today and its 655. I messed up last summer by getting a personal loan from One Main. I didnt want to but my vehicle broke down and i needed to get it fixed. Because i had just took out a personal loan from Alliant to pay off my cc bills...One Main was the only one to approve me. The loan was for 5.5k for 5yrs at get this...the discounted rate of 38%! The loan had since been paid off earlier this month (thanks to family members willing to help and lend me the amount to pay it off. When i saw my EQ report today...the biggest box on the scale was the onsumer loan. Im just waiting for it to be updated to paid and cloaed. I read on my credit report that this loan will affect my score even though it is paid and closed. Can anyone tell me if getting it paid will even help my credit score? As far as baddies...i have 1 charge off from verizon in 2009 but paid and a judgement from 2006 set to fall off later this year that was paid in full the same year. Also on my EQ..it says the judgement was paid but the date says it was paid in 2011. Is the wrong date indicated paid on my EQ report affecting my score also? Input is greatly appreciated! Thanks
thanks for the words of encouragement bettercredit and journey! yeah i have about 5 cc with CL ranging from $500-$3000 with Fry's store card having the highest limit. although util is about 60%...my balances on all cards will be pif'd by the middle of the week. my plan now is to switch each month between my chase freedom and discover miles card to pay my monthly bills...and then turn around and pif with the cash that is supposed to be used for those bills. maybe if i use both cards in such manner...both will finally give me auto cli's (have had both cards for 2yrs without seeing any love from them). plan on just gardening til early next year so my credit union can approve me for a personal line of credit and cc. i will be using the line of credit to take back the debt absorbed my some family members' cc's to help me pay off my One Main loan.
thanks guiness for your input. it just made me wonder about it because when i applied for a credit card to consolidate my bills last month...the judgement was the main reason why i was denied. the bank said it was recent and i told the gal that its been paid and settled back in 2006 and i have documentation from both plaintiff lawyer and the court stating its been satisfied that year. she was a little surprised when i said the year and she told me to contact EQ about correcting something (at this point all i heard after that was blah blah blah from being disappointed) and if i wanted to apply again...she said try at the end of the year. when i pulled my EQ report here...the incorrect payment date was the only thing that jumped out. but not gonna worry about it for now. recently pulled my free annual reports and my TU report indicated that its supposed to drop off this september. going to keep an eye out and axiously wait to see in the fall if it disappears from all 3 reports.
thanks journey. yeah i cant wait to see the improvement on my scores when all my cc's updaye after i get the balances paid! will keep you posted!
so my one main loan updated and said paid and closed.....and most of my cc's that i paid off has updated to zero balance except for a couple which should be updating within the next week or so. but it's so disappointing that when i got my SW alert...it only said that my score only went up 3 pts to 658 from 655. What a super bummer!!