@thomasjm99 wrote:
@Anonymous wrote:
@thomasjm99 wrote:
Wow... Didn't really realize how long it had been since I updated here... Quite a bit has happened!
I'm only left with 3 or 4 of the above baddies as of now and my FAKO scores have climbed from the low 500's up to 580 - 590 range. So I'm happy about that for sure.
Within the last week I applied for and was approved for a Fingerhut Account ($500), and a C1 Quicksilver One Card ($300). I also have a secured Mastercard with a $500 CL .
The last few CA's are proving tough to deal with and I don't think they are going to fall off any time soon (I won't give up though!!)... So I decided since my scores were creeping up to the 600 mark I should start rebuilding with new credit as you can see above. I'm very curious what kind of ceilings my score might see with these 3 or 4 baddies staying active? I know each credit profile is different, but I have seen some folks get as high as 660 - 680 even though they still have some CA's or other derogs reporting.
This has been quite a challenge and definitely takes some perservance and close monitoring. It's still awesome to see the progress every one else is making, so ya'll keep it up!!
Even with numerous derogs, as long as you keep up on everything, as those derogs age and you build current credit, its possible to hit 700 in about 2 years or so.
Would this hold true even if the derogs are reporting on a monthly basis? Honestly could not say for sure - but if I had to geuss I would say probably not.
The baddies I have left are with places notorious for not doing any PFD or GW removal. (CapOne, LVNV, First Premier)... Should I just bite the bullet and pay these so at a minimum they stop reporting and as they age it will improve my score slowly? DoFD on all of them is throughout 2013 so they won't age off until 2020. Most of the experienced people will say yeah, if they are updating, bite the bullet so they can age.
On another note, how much new, positive credit is enough? I have Fingerhut, 2 CapOne CC's and a Secured CC as well... Obviously on time payments and CLI's will help over time... I don't really want to go adding store cards (via SCT) for the sake of having more postiive TL's, but I will do it if it will help. My short term goal is to do whatever I can to get my scores close to 650ish so I can look at refinancing my current auto loan, or at a minimum getting a new auto loan and rolling negative equity into it so I can get rid of this 20% interest rate auto loan I currently have... It depends on how many negative accounts you have - the rule of thumb here is that you want more positive accounts than negative accounts (aside from collections).
Thanks again to the community for all the help, and Happy Fathers Day to all the Dads out there!
