18 point hit on Experian - Advice is most welcomed!

[HarleyGirlInDallas]

Thank you in advance for any suggestions and feedback if any of you all have encountered something similar.

I seriously need to get some dental work done and have been working on improving my credit scores. Thankfully, I'm not in any physical pain but my teeth are loose due to grinding them at night - I started doing this when my Mom got sick and then passed away - and I need to get full implants upper and lower for a quote of $30k (not the highest or the lowest quote received) and I don't have any insurance. I've been making great improvements on my credit scores -- and quickly -- thanks to this discussion forums here...up until yesterday.

I reached out to my primary finance institution, Advancial Federal Credit Union, that's I've used for the past 10 years.  I have been working 2 full-time jobs since beginning of November. Both jobs pay direct deposit and every Friday I have been receiving healthy deposits into my Advancial account.  

Yesterday, I spoke to the branch manager about my options of going for a personal loan or a line of credit. Due to the money coming in, I have no problem covering payments.  I was forthcoming and told the manager that my current Experian score was 651 and was curious as to what I needed it to be before applying.  She said that it would probably only take a couple points and that we could run it by underwriting to see what my options are....because I really do need to get started with the dental work.

Not only was I turned down -- I now know my score needed to be at least 680...and if I had known that when I was speaking with her and asking those questions, I wouldn't have applied yet.  But, this morning I was greeted with a message from myFICO that my Experian score had dropped a staggering 18 points down to 633!

What IS working in my favor -- at least, I think they are:

• I also have a NFCU account, Checking, Savings, and Cash Rewards ($540 owed on a $2k limit; paying that off this month).
  • Due to all the great advice I've been reading on these boards, I now understand that I need to make serious use of NFCU!
• I have just opened up a NFCU Flagship checking account and tomorrow plan to open a Savings Secured Loan and do that "hack" of putting $350 in savings, pay 90% of the loan, and then let it ride to show NFCU's system that I am making use of their products/services.
  • NFCU won't preapprove me for any card right now except for the Secured.
  • Switching my direct deposits to NFCU Flagship checking account (they have been with Advancial)
• (3) Capital One cards (Plantinum, QuickSilver, and WalMart) = Zero Balance
• (1) AmEx Hilton = Zero Balance....my goal card is to have the AmEx Hilton Aspire because I travel a lot for business.
• (1) Reflex card = Zero Balance
• (2) Credit One cards (AmEx & Visa) = Zero Balance
• (1) Target RedCard = Zero Balance
• (1) Mission Lane = Zero Balance

What I owe:

• (1) CFNA (Firestone) with $1,800 balance on a $2,400 line (needed new tires for my car and $1,400 in work on my Dad's car)
• (1) Mattress Firm / Synchrony $700 balance on a $1k line
  • These are my last 2 items to get Paid in Full as I had been focus on the other credit cards each pay cycle.
• (1) Late payment (30 days) last June on an order from late April that I returned in May - evidently crossed paths with the statement and Comenity Bank wouldn't let me make a payment via phone because I had never used the account before, didn't have online billing set up, and couldn't do so without the account number...which was on the statement waiting for me in my mailbox while I was in Florida for several weeks helping my Dad after his heart surgery. I called Comenity last month asking if they would be willing to remove that since everything else I have is in good standing with no other late payments and they told me to take it up with the credit reporting agencies.  I've no intention of using Comenity again for anything. 
• (1) Auto loan through Westlake with a $13k balance.

If any of you savvy readers have suggestions on what I should / can do to offset that 18 point hit on Experian and help me get a bit further ahead with NFCU so that I can qualify for a Personal Loan or Line of Credit for my dental work, your advice is most appreciated!

[GatoradeZeroGuy]

You should get a not insignificant amount of points once you pay down those CFNA and Mattress firm cards. Their high utilization is rough on scores. 

Consider holding off on the SSL, you already have a car loan.

A new account is going to hurt, not help. You're trying to get to 680, not flirt w/NFCU internal scoring right now. 

I have no idea what dental costs look like, but do consider seeing if you qualify for like a marketplace plan through ACA special enrollment period, or low cost dental schools or something if you haven't. 

Pay down those two cards and see what your score looks like. Ensure there's the smallest balance you can on one card >$2 but less than 9%, less than 5% if possible. 

[HarleyGirlInDallas]

Consider holding off on the SSL, you already have a car loan.
A new account is going to hurt, not help. You're trying to get to 680, not flirt w/NFCU internal scoring right now. 

I did consider the car loan; however, I want to show NFCU internal AI that I am using their products/services; hence the SSL.

The 680 was the target needed by Advancial but they don't have the range of services that NFCU does. I've seen nothing posted about Advancial on these thousands of messages in this forum but  dozens from happy NFCU....I'd like to be happy again with a lending institution! 

Thank you for taking the time to reply!

[tebtengri]

At that price I'd look at clinics in Mexico. You can travel there get the work done and maybe take a day or two "vacation" for significantly less money.

I live in Mexico and have for about 10 years off and on. I'd trust the dental work there, especially if it saved me $20000 or so.

[HarleyGirlInDallas]

At that price I'd look at clinics in Mexico. You can travel there get the work done and maybe take a day or two "vacation" for significantly less money.

I've considered that too and I read countless reviews of Americans that have had great results at clinics in both El Paso and Tiajuana. Being in Dallas, I'd probably opt for El Paso.  My concern is the bone loss I've already got in my upper palate and, if something went sideways, I don't have a medical professional current with my situation in the same city.  Good, Fast, or Cheap...pick any 2!  

[tebtengri]

I'm not sure what complications could arise from the bone loss in your palateor what sort of doctor or specialist would deal with it but you could always contact a clinic of that speciality in Juarez and have your current medical file sent to them along with any existing relevant imaging so they could be standing by. 

[HarleyGirlInDallas]

It's definitely a solution that I've not thrown in the towel just yet.    An aquaintance had to get all of his teeth replaced in his 20's due to a major health issue. He went to Ecuador and has been very happy with the results. 

[TRC_WA]

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@HarleyGirlInDallas wrote:

Thank you in advance for any suggestions and feedback if any of you all have encountered something similar.

I seriously need to get some dental work done and have been working on improving my credit scores. Thankfully, I'm not in any physical pain but my teeth are loose due to grinding them at night - I started doing this when my Mom got sick and then passed away - and I need to get full implants upper and lower for a quote of $30k (not the highest or the lowest quote received) and I don't have any insurance. I've been making great improvements on my credit scores -- and quickly -- thanks to this discussion forums here...up until yesterday.

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You sound like me last year... I was in a similar situation in needing dental work and got a similar quote for implants.

I've heard good and bad about Mexico... multiple people told me if you get implants there and have issues like infection that  you'll have to go back to Mexico because US dentists won't help you.

At any rate... I settled on premium dentures for $7500.  They are premium in a sense that people don't know they aren't my real teeth unless I tell them.  The cost included the extractions... a temporary set and then the permanent set 6 months later after the healing.

I'm 48 and am quite happy with the results... at a much lower cost.

Consider CareCredit as well.  You can go to their website for a SP approval... input what you need and see what happens.  I put in $8000 and got it.  I should have asked for $12,000.    

The promotional purchase was for 0% for 2 years.

[HarleyGirlInDallas]

@TRC_WA  - I sincerely appreciate you taking the time to reply and sharing your experience.  I shared your post with a friend of mine -- the only person that is aware of what I'm dealing with on the dental side -- and he said if it was him, he'd go for the dentures over implants. His Mom has had dentures since her early 20's so he's got her experience to lean on when it comes to giving me feedback, too.

After I made this post - and before you replied - it hit me that this may simply be one of those times that God/Higher Power/Universe is looking out for me. Perhaps, for whatever reason, I'm not supposed to go down the implant road -- and by sucker punching me with a staggering 18 point drop in my credit score from one simple inquiry is a pretty good way to get my attention! 

I've got an appointment in the AM for a 4th consultation -- this time, coming at it from a dentures only start. As the dentist said on the phone yesterday, we can look at starting with dentures while I work on my credit score and, if once it's back up high enough to get a line of credit, I can decide to do implants later.  

So, thank you, so much, for taking the time to reply and sharing your experience.  It has really helped me a lot.

[TRC_WA]

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@HarleyGirlInDallas wrote:

I've got an appointment in the AM for a 4th consultation -- this time, coming at it from a dentures only start. As the dentist said on the phone yesterday, we can look at starting with dentures while I work on my credit score and, if once it's back up high enough to get a line of credit, I can decide to do implants later.  

So, thank you, so much, for taking the time to reply and sharing your experience.  It has really helped me a lot.

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@HarleyGirlInDallas  No problem.  

I'm a firm believer in you get what you pay for when it comes to dentures.  I did the research... found a dentist with great reviews... and went for it and as said I couldn't be happier with the results.  They look real without looking fake.  I've been told many times "your teeth are amazing looking."

I'm like... "well that's what happens when you brush and floss 3 times a day for 50 years." 

Good luck with it and let us know what happens.  Don't forget about CareCredit as well... they are a very good option for stuff like this.