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ABCD2199's Eleven Rules to Credit Rebuilding

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Senior Contributor

Re: ABCD2199's Eleven Rules to Credit Rebuilding


@Brace wrote:

I have a question about the part of this post who says to have 3 credit cards. I only have one now:

 

i believe i am in the mid 600´s now.

BOA CASH REWARDS 2000 UNSECURED

Oportun loand 2300

Lendify loan 1200

 

receiving Cap One Plat letters.

 

I am gardening to rise up my scores for an apartment in april or may.

I always PIF but after the statement comes out, so my utilization was very high, but now i will PIF before the statement  and leave it under 8.9%

 

What should be the next step?

-PIF the Loans?

-Get a CLI on BOA? ( and make my way towards only one very strong card first) or

-Get the cap one plat? and which other third card? ( to have the 3 cards and let them age, but i might jeopardise the apartment)

 

can someone shed some light? im new to credit... only 13 months.And i only have ITIN number.

Thanks!


If you can. Pay off 1 of the loans. Get the other loan below 8.99%. I wouldnt app right now if your going to go apt hunting next month or May. The HP and new account will drop your scores. ClI's dont raise scores unless you have a high util. Which you dont now as you posted. You could start a new thread for more help. This thread is kinda old. Some folks may not come in due to the title.





My posts are JMHO. I DO NOT claim to be a FICO expert. Just sharing my experiences from rebuild to recovery after BK DC. My siggy is not to brag at all. Just to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 131 of 138
Established Member

Re: ABCD2199's Eleven Rules to Credit Rebuilding

I am trying to rebuild and of course I would love to have one of the Chase cards right off the bat. In the past month I have applied and gotten a Quicksilver One $3k limit and Discover It with a $750 limit (really) and so I would like to take your advice with getting the cards quickly. Neither card has reported to any of my reports. My FICO8 TU 677 Exp 656 Equifax 612. How long should I wait before applying for a 3rd card? 

 

Any advice would be greatly appreciated.

Message 132 of 138
Senior Contributor

Re: ABCD2199's Eleven Rules to Credit Rebuilding


@rayray7787 wrote:

I am trying to rebuild and of course I would love to have one of the Chase cards right off the bat. In the past month I have applied and gotten a Quicksilver One $3k limit and Discover It with a $750 limit (really) and so I would like to take your advice with getting the cards quickly. Neither card has reported to any of my reports. My FICO8 TU 677 Exp 656 Equifax 612. How long should I wait before applying for a 3rd card? 

 

Any advice would be greatly appreciated.


Chase will want to see a long history of on time payments and then some. You got 2 cards really fast. Congrats, But I'd hold off for 4-6 months for the third if you want a higher SL and maybe a lower APR. Plus you have to stay under 5 new acounts in 2 years or 5/24 as we say here. Do you have an installment loan?





My posts are JMHO. I DO NOT claim to be a FICO expert. Just sharing my experiences from rebuild to recovery after BK DC. My siggy is not to brag at all. Just to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 133 of 138
New Contributor

Re: ABCD2199's Eleven Rules to Credit Rebuilding

Apologies if someone else has already asked.  I will admit I didn't read all 100+ replies.  

 

About "Rule #3: The AZEO Method." - Should it be the same card every month, or it doesn't matter as long as one of them is at that state?

 

Thank you!

Message 134 of 138
Established Contributor

Re: ABCD2199's Eleven Rules to Credit Rebuilding

It doesn’t matter its up to you.






Starting Score: 494 503 521
Current Score: 503 507 507 2/19
Goal Score: 680


Take the myFICO Fitness Challenge




Message 135 of 138
New Contributor

Re: ABCD2199's Eleven Rules to Credit Rebuilding

"that one CSR at Experian who is more than happy to give you that early exclusion you have been denied ninety times in writing for. " - an early exlusion in this context...  Does that mean taking out a charge-off or other derog a little before it's expiration time?


Do you have any advise on what to say?

Message 136 of 138
Moderator

Re: ABCD2199's Eleven Rules to Credit Rebuilding


@Mystik1 wrote:

"that one CSR at Experian who is more than happy to give you that early exclusion you have been denied ninety times in writing for. " - an early exlusion in this context...  Does that mean taking out a charge-off or other derog a little before it's expiration time?


Do you have any advise on what to say?


An early exclusion is a complete removal of the derog TL before its scheduled exclusion date. You would call each CRA and ask for a supervisor once that person gets on the line you just state that you would like TL xxx considered for an early exclusion.

"If there's a lack of money in your life, understand that feeling worried, envious, jealous, disappointed, discouraged, doubtful or fearful about money can never bring more money to you, because those feelings come from a lack of gratitude for the money you have."

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- Rhonda Byrne

Message 137 of 138
Highlighted
Frequent Contributor

Re: ABCD2199's Eleven Rules to Credit Rebuilding


As I was searching for this thread, I saw soooo many people asking the same question I had:  Where to start on rebuilding.  

 

I recommend bookmarking it -- particularly as we are heading into the Holidays and will be struggling with spending more than we should.  

 

Thanks to AllZero for helping me find it again!

 

Time to Bump this thread along with another that was mentioned:

 

FICO Score -- What to pay down first 

Starting Over Again after Cap1 Death Penalty:
06/18/2019:
09/06/2019:
BACK in the garden for the rest of my life!
Message 138 of 138
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