So I have a double question I'm a newbie for credit

[Iusedtolurk]

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@Skippy101 wrote:

so I just check my transunion score. it has me at 519 but Experian, has me at 582 and equifax has me at 578. all 3 credit companies all reporting the same accounts,there is no difference in any of the reports so why such a big difference in scores ?

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@Skippy101  My Trans trails behind my Equifax and Experian also although the data is 99% identical with the only difference is I have 1 Hp on Trans with 0 Hp on the other two.

That 1 Hp is due to fall off in 4 months but I highly doubt it's causing a 12+ point deficit. Also my 28 Fico scores compared show a deficit with Trans comparing all 3 which my mortgage scores for Experian being 750 Equifax 748 and Trans being a miserable 719?

[Skippy101]

Yes I find it oddly strange that my transunion score is so much different even though it's fico 8 like the other two credit bureaus that are all reporting 100% same exact information 

[Skippy101]

So hopefully I'm going in the correct direction, with a good plan so a little information. I was young and dumb I have 5k$ charged off closed account medical bill from 2018 . a fully paid collection phone bill for $317 as of sept 2021 showing on my report.I never believed in credit. So now I have opened up two secured cards #1 Bank of America customized cash secured  ( I paid $99 for a 500 limit ) #2 discover it secured $500 for 500 limit. I figured both, of these cards suit my needs more than enough. also it looks like these cards can graduate and really be decent cards down the line.I have also taken a credit builder loan out and I have been paying early and in full each month for all accounts. My plan is to just let my credit build for 18 months before I even decide to do anything. I see the AZEO method in my case would it be befitting to me since I'm going to garden for 18 months. Im 2 months into the journey and excited to watch myself grow better habits and earn better rates when the time comes.

[Iusedtolurk]

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@Skippy101 wrote:

So hopefully I'm going in the correct direction, with a good plan so a little information. I was young and dumb I have 5k$ charged off closed account medical bill from 2018 . a fully paid collection phone bill for $317 as of sept 2021 showing on my report.I never believed in credit. So now I have opened up two secured cards #1 Bank of America customized cash secured  ( I paid $99 for a 500 limit ) #2 discover it secured $500 for 500 limit. I figured both, of these cards suit my needs more than enough. also it looks like these cards can graduate and really be decent cards down the line.I have also taken a credit builder loan out and I have been paying early and in full each month for all accounts. My plan is to just let my credit build for 18 months before I even decide to do anything. I see the AZEO method in my case would it be befitting to me since I'm going to garden for 18 months. Im 2 months into the journey and excited to watch myself grow better habits and earn better rates when the time comes.

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@Skippy101  The AZEO method really comes into play when you are about to make a Big purchase or credit APP other than that occuring just make sure you pay bills on time and keep utilization that REPORTS low.

I really like the Disco secured I helped 2 of my family members get it and after 8 months both got UNsecured and CLI of 1200+ dollars. Seems to be their Modus Operandi.

When I started my rebuild I took all my hits early. I got 8 credit cards and a SSL (selflender) the first year and 4 credit cards the second year.

Started with around 500 scores and now around 740s+. Went from 400 dollars total credit to 36000+ now.

Learned a lot from this forum. It's one of the best sources to benefit your credit journey.

[Skippy101]

Do you have any data points for the discover card ? Any baddies ? I think this card will grow with me very well . And yes I pay off in full way before the statement date and I never use more than 28% of the monthly credit 

[Iusedtolurk]

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@Skippy101 wrote:

Do you have any data points for the discover card ? Any baddies ? I think this card will grow with me very well . And yes I pay off in full way before the statement date and I never use more than 28% of the monthly credit 

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 @Skippy101  Both my family members had a couple of collections (medical and/or utility). Spend was close to limit each month (around 300) paid a couple of times monthly and zeroed out 95% of the time for balance reporting less than 10%.

You can use as much as you want of your credit line making sure to never go over and making sure what reports (statement cut) is always zero balance or low percentage.

[FishingGuy]

Skippy,   Use the Discover card regularly..... and pay it off before it reports, (even if you make several payments a month)....if possible I would add funds to it to give you a higher limit.  If they see you manage your account well..... they will graduate your card to unsecured, return your funds and often increase your limit.... more and more over time.   

I started my rebuild that way..... and now have $9,000 cl with Discover... and have over $100 k in combined credit across multiple cards.   (some with limits of $15- $25,000).....  but plan strategically on your rebuild,  go slow and steady...and keep reading here.... there's a wealth of information on this site, which will help you greatly.  ( It did for me )

[Skippy101]

So a minor update I have my credit-builder account “ self cd” ( $25 mo 24 mo term ), my discover secured card ( $200 deposit and CL ), and BOA customized cash secured card ( $99 deposit 500 CL ), all reporting to all three CB I have successfully removed 1 baddie on TransUnion and Experian ( equifax is dragging their feet ) 

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[Ilinferno]

Nice! Congrats on your progress so far and good luck on the rest of the rebuild!

[Skippy101]

So an update month #4 statement for discover processed no upgrade to unsecured yet but I have taken some of the baddies off my reports and my scores are coming up I reached my goal faster than I thought hopefully I can reach my next goal before August this year 💪🏻 Equifax 655 Experian 652 transunion 653