Hey Everyone! I'll start with current stats:
Transunion: 500 (CK)
Equifax: 513 (CK)
Experian: 594 (FICO 8)
Goodies:
Credit One - $300 SL (been open 1 year) BUT currently maxed out...
Citi Secured - $300 SL (just opened as of 10/05/2019)
Discover - $1800 CL (Authorized user - has been an active account for 10 months)
Atlantic Capital Bank aka Self Lender - $500 Credit Building Loan for 24 months (opened for 5/24 months)
Fedloan Service (Student Loan, Monthly Payment - $0.00 - in Public Forgiveness Act)
Just refinanced my car loan from Capital One with an 23% APR to Lending Club with an 14.9% APR same term length
Baddies:
Bankrupcty Chapter 7 Discharge back in 2012
Age of Credit History: 7 months
Collection Account with Capital Accounts LLC - $654.00 (they said they would delete off all CR's when paid in full)
Inquires: Transunion 18, Equifax 14, Experian 20
So what does anyone recommend I start with lol. I am super eager to get into the mid 600's. I doubt I'll see 700's anytime soon but I would love to get a nice credit card soon or see my Citi Secured Graduate.
Thanks everyone!
1. PFD Pay For Delete the collection. You'll see a improvement on score.
2. Pay down your debt. Reported maxed out utilization is hurting your score.
2. Pay down your debt. Reported maxed out utilization is hurting your score.
Eventually you'll need to get all your Fico8 scores as the CK scores are worthless.
Payoff your Credit One card and never MAX it out again. You want to keep your utilization low.
Payoff the collection and get it off your reports.
I realize you just refinanced your car, but that is lot of inquiries. You might need to let some of those go away before you get anymore HPs on your reports, and let your current accounts age for a while.
Thank you! First step paying off my Credit One Card and then PFD on the Collection! I will keep everyone posted of the outcome!
3. Once you get your updates scores, think about how much you're paying in interest on the car loan. You have a lot of inquiries as mentioned above. However, look around when the time is right. While 14.9% is better than 23%, it's still a tad high.
4. You want to make your credit profile as attractive to lenders as much as possible. I wouldn't recommend applying for any credit cards until you remove the derogatory and look into AZEO All Zero Except One card reporting a small balance eg $5-$10.
5. Stick around and read the forums. You'll learn a lot.
4. You want to make your credit profile as attractive to lenders as much as possible. I wouldn't recommend applying for any credit cards until you remove the derogatory and look into AZEO All Zero Except One card reporting a small balance eg $5-$10.
5. Stick around and read the forums. You'll learn a lot.
Thank you AllZero! I will for sure use that rule going forward! I am excited to see where I will be a year from now! Hopefully in the 600 club lol!
You're welcome. In a little over 2 years, that BK will be off your report. Good luck and happy reading.