I'll try and be brief. No promises. I was foolish and uneducated as it relates to my credit in my 20's that has led me to have scores ~517 currently.
Derogs include:
$1900 unpaid Wells Fargo charge off
$3000 collection from a shared apartment where I was the only tenant actually on the lease
$800 unpaid cable and internet bill in collections from the above apartment
$4000 PIF collection from school I had to pay in order to get my degree
The apartment bill was $8000 at it's highest and I've been paying that down under a PFD agreement to it's current balance of $3000. I should have that paid off by the end of the year. I'm trying to mix going for the low hanging fruit immediately while tackling the bigger issues over time. Next up is trying to arrange a PFD for the cable bill. It's with IC Systems, anyone have any success with them? Also, Conserve had my school bill and they're refusing to take that paid collection off of my report, at least by phone. Maybe I'll have more luck in writing?
I have two open credit lines with perfect payments I opened in Nov of last year:
$300 unsecured Cap 1 plat
$5000 My Jeweler's club
My utilization is either 1% or ~30% depending on the RA. Sometimes my WF charge off seems to count against me. My Cap 1 card hasn't made its way onto my report yet. I'm about to cut my 2nd statement with a balance of $25 that I have autopay setup to PIF. Should I also apply for a 2nd CC at this point or continue focusing on my derogs? I know that will help my AAoA in the long run. I've been looking into the Discover It secured card. I was honestly surprised Cap 1 accepted me for their unsecured platinum. I was thrilled.
This forum has been such a help to me. I'm glad to have discovered it (no pun intended). What realistic score increases can I expect? Is there any further action any of you might recommend? Are there any steps I have missed? My goal is to get my scores above 650. I also really want the United Mileage Plus Explorer card as I'm a Mileage Plus member and fly transcon often.
I would recommend checking Capital One for upgrade to the QuickSilver 1.5% cashback card.
I would also recommend reading 's other post in his signature block too.
@quikj9 wrote:
I'll try and be brief. No promises. I was foolish and uneducated as it relates to my credit in my 20's that has led me to have scores ~580 currently.
Derogs include:
$1900 unpaid Wells Fargo charge off
$3000 collection from a shared apartment where I was the only tenant actually on the lease
$800 unpaid cable and internet bill in collections from the above apartment
$4000 PIF collection from school I had to pay in order to get my degree
The apartment bill was $8000 at it's highest and I've been paying that down under a PFD agreement to it's current balance of $3000. I should have that paid off by the end of the year. I'm trying to mix going for the low hanging fruit immediately while tackling the bigger issues over time. Next up is trying to arrange a PFD for the cable bill. It's with IC Systems, anyone have any success with them? Also, Conserve had my school bill and they're refusing to take that paid collection off of my report, at least by phone. Maybe I'll have more luck in writing?
I have two open credit lines with perfect payments I opened in Nov of last year:
$300 unsecured Cap 1 plat
$5000 My Jeweler's club
My utilization is either 1% or ~30% depending on the RA. Sometimes my WF charge off seems to count against me. My Cap 1 card hasn't made its way onto my report yet. I'm about to cut my 2nd statement with a balance of $25 that I have autopay setup to PIF. Should I also apply for a 2nd CC at this point or continue focusing on my derogs? I know that will help my AAoA in the long run. I've been looking into the Discover It secured card. I was honestly surprised Cap 1 accepted me for their unsecured platinum. I was thrilled.
This forum has been such a help to me. I'm glad to have discovered it (no pun intended). What realistic score increases can I expect? Is there any further action any of you might recommend? Are there any steps I have missed? My goal is to get my scores above 650. I also really want the United Mileage Plus Explorer card as I'm a Mileage Plus member and fly transcon often.
Really not much more to do than pay off the debts. IC System is not one of the known PFD agencies. You could try paying the cable company direct and ask to recall the account in leui of payment. Dont understand this one. "$4000 PIF collection from school I had to pay in order to get my degree" Is it paid in full or owed? The one account that will help is getting the WF charge off PIF. CO credit accounts go against your overall util %. There some gains. Paying all the collections off will stop updating each month and slowly age off. Wait at least 6 months for trying for Disco on their pre-qual. They want to see some CC activity with another company first. Good Luck and keep us updated.
Thanks for the link @AllZero. Unfortunately, it says I'm not available for an upgrade at this time. I'll continue to check back each month.
Also, the post on utilization was very informative. I read his other post on the 11 rules for rebuilding.
It seems paying off that Wells Fargo CO should be a priority.
Also, the post on utilization was very informative. I read his other post on the 11 rules for rebuilding.
It seems paying off that Wells Fargo CO should be a priority.
I appreciate the advice @FireMedic1. I have a buddy of mine who's also an EMT. So thankful for the work you all do.
The $4000 school bill is paid in full and shows a 0 balance. I just wanted to point out that it was still on my report, even though it's paid. It'll still be there for another 4 years, unless I can get it removed.
The $4000 school bill is paid in full and shows a 0 balance. I just wanted to point out that it was still on my report, even though it's paid. It'll still be there for another 4 years, unless I can get it removed.
@quikj9 wrote:
Thanks for the link @AllZero. Unfortunately, it says I'm not available for an upgrade at this time. I'll continue to check back each month.
Also, the post on utilization was very informative. I read his other post on the 11 rules for rebuilding.
It seems paying off that Wells Fargo CO should be a priority.
I'm glad you found the post useful. All credit goes to .
Good luck on your journey!
Update:
I sent a DV letter to IC System, waiting for their response. If they validate, I'll try and arrange a PFD. I called the cable company that they're collecting on behalf of. At first, they said their policy is to remove the derog after I PIF between 60 and 90 days. Then, after I asked for more information, the rep read me their internal policy and it only mentioned updating the account to PIF, with nothing about deletion. They won't send me any written agreement until I pay the bill in full. I don't want to PIF only for IC System to continue reporting. I'm waiting for IC System to get back to me, in order to see what I might be able to arrange with them. It seems that numerous people online have reported success having them cease reporting to the CRAs once the debt is paid, but not everyone has been so lucky. Does anyone else have any experience with them?
ConServe refuses to make a change to how they are reporting my account. They say that it's up to them to report accurate information. I said that they are not required to report, especially on a $0 balance. No luck. Next, I called my alma mater's Bursar's office to see if they can try to get ConServe to cease reporting. The woman I spoke to seemed like she wanted to help, but I haven't heard back from her yet. They might not care so much as they already have my money.
The Wells Fargo charge off I set up a monthly payment plan to pay it off. They absolutely will not remove the charge off, but paying them will bring my utilization percentage down and I'll feel better about no longer being in debt to them. I've been a longtime customer of theirs. I'm a small fry for sure, but the relationship exists. The DoFD is 9/16, so it'll fall off in a few years. I'll just have to live with that. What are the chances they'll reconsider me for a new line of credit after I pay them? How long should I expect to wait before they'll take another chance on me?
I got my first CLI on my Cap1 Platinum today! It's only a $100 increase, but I'm not due for my credit steps CLI until May/June. I put regular spend on the card and make multiple large payments, relative to the limit, over the course of the month in order to cut a statement with a low balance of a few dollars.
IC system still hasn't gotten back to me after my DV letter. What now?
I got IC system and ConServe removed from all 3 CRAs.
Just have to keep paying down my Wells Fargo Charge off and the apartment collection, while letting my accounts age. I'll be added as an AU to an old CC in perfect standing within the next couple of months. I'm also in the process of rehabbing my student loans, so that should help as well.
Hoping I can PC my Cap1 platinum to a Quicksilver once my next statement cuts and I PIF.
I'm really enjoying budgeting and finding ways to save cash to throw at these bills. It's great to see some progress. I know they're FAKO, but it's been nice to see my CK scores go up 30pts in the last couple of months. I'll pull my FICO scores from here once my student loans are rehabbed at the end of the summer and my accounts have aged a bit. I don't plan on applying for anything until then, so no need to know exactly where I stand.