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Applied for new CC - found out I had poor score from issues in 2013 w/ Portfolio and Capital One..

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Established Member

Applied for new CC - found out I had poor score from issues in 2013 w/ Portfolio and Capital One..

 Hello,

 

My first post here after lurking daily for about 3 weeks and it has become addicting with the unlimited amount of info provided but my head is about to explode from too much information the last few days of non-stop reading and hoping to find some direction on how to best remedy my situation.  I applied for 2 credit Cards before the holidays to take advantage of some offers after I joined creditkarma.....  before December I was completely ignorant to the credit bureaus and the credit industry didn't know anything about utilization or Avergae Age...etc and still learn all kinds of pertinent info every time I log onto myfico...........      

 

I didn't realize how poor my score was until I saw the report in CK, I now know that their score doesn't truly represent but used it as a guage to try and improve my credit by starting with lowering my utilation from %65 to %15  and saw my fako score jump about 85...  after reading here for a while I have done a few other things to help improve it like All zero but one and my Fako score has gone from 585 to 720 now.   I have 9 Credit Cards and no loans with my AAoA is 8 yrs 8 months but I have 2 majore issues hurting me from 2014..........

 

   the first is  30 day late from Capital One in August 2015 and the other is a $468 collections accoutn from Jan 2014 from Portfolio Recovery and 3 HPs in last 2 months.....

 

what is the best way to help my score with these transgressions?  I

 

s it a GW campaign for Cap One? Does that work with Cap One?  I had read so many things about my Portfolio Account being a lost cause and would just have to ride it out until it expires but then today I found some posts about new optimism about leniancy from Portfolio.

 

  Should I contact them and pay that ASAP to help my score and do I request them to delete file before I pay? Is there a difference on how they can report it to the CA after I pay that can change the effect on my credit scores? 

 

I'm still learning many of the intimate details on how to garden and increase my scores but would really appreciate any advice on the best methods to remedy my 2 main issues

 

Kind Regards

 

edit - after some more reading just learned a couple new terms like balance chasing and CLD I had no idea about and worried maybe now that i zeroed balance 7/9 of my CC's that might happen now

 

-- and the more I read about the Prtfolio collection account the more unsure I am about it.....  I originally thought it would fall off after so many years and it might be best not to address that debt or I would "restart" the clock on how long it remains on my credit report but now just looking at CK it looks like it was just reported again on Jan 9th....  so whatever I thought appearantly was wrong, it was originally an Amazon/Ge Capital 2012 Acct that was sent to Portfilio in 2014 for collections and looks to still be reporting monthly after 5 years   *  SOL here in Illinois is 5yrs

Message 1 of 21
20 REPLIES 20
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New Contributor

Re: Applied for new CC - found out I had poor score from issues in 2013 w/ Portfolio and Capital On

You can gw Capital One. I received one in October 2018. Search google for how to reach their executive office as we are not allowed to give that information out on here and since I'm new I'm not comfortable pm'g anyone. I was honest and open about my 30 day late and they were able remove it. 

Message 2 of 21
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Established Member

Re: Applied for new CC - found out I had poor score from issues in 2013 w/ Portfolio and Capital On

Thank you for the advice, that is good to know, I will research for more info on it but wasn't really finding too much in the positive category yet regarding Cap One and GW.

 

Much Appreciated!

Message 3 of 21
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Valued Contributor

Re: Applied for new CC - found out I had poor score from issues in 2013 w/ Portfolio and Capital On

Hello, Welcome to My Fico..   000welcometrain.gif

 

Good for you for taking charge of your credit..

Some good news: PR recently began doing PFD (pay for deletes).

 

Here's some info about that https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Portfolio-Recovery-Deleting-tradelines/m-p/5...

 

You really aren't in too bad of shape and should be able to grow your score quite nicely..

Good Luck.. 

 

cheersgif.gif




Message 4 of 21
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Super Contributor

Re: Applied for new CC - found out I had poor score from issues in 2013 w/ Portfolio and Capital On

Out of the 9 cards. Do any of them give you a free FICO score? If not. Discover Scorecard will give you a free EX FICO. Your collection is over 2 yrs old. Pay it and they will delete it. More points added.

Message 5 of 21
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Established Member

Re: Applied for new CC - found out I had poor score from issues in 2013 w/ Portfolio and Capital On


@FiresOut wrote:

Out of the 9 cards. Do any of them give you a free FICO score? If not. Discover Scorecard will give you a free EX FICO. Your collection is over 2 yrs old. Pay it and they will delete it. More points added.

 

 

I'm not hijacking this thread but i paid my account balance in full with PRA and so far they just updated it to paid. Have you had experience with them deleting an account without issue for you?


 

Message 6 of 21
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Super Contributor

Re: Applied for new CC - found out I had poor score from issues in 2013 w/ Portfolio and Capital On


@Firefighter1 wrote:

@FiresOut wrote:

Out of the 9 cards. Do any of them give you a free FICO score? If not. Discover Scorecard will give you a free EX FICO. Your collection is over 2 yrs old. Pay it and they will delete it. More points added.

 

 

I'm not hijacking this thread but i paid my account balance in full with PRA and so far they just updated it to paid. Have you had experience with them deleting an account without issue for you?


 


No.  Call them and ask about their new policy and inform them it wasnt removed. That is if its more than 2 y/o.

Message 7 of 21
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Established Member

Re: Applied for new CC - found out I had poor score from issues in 2013 w/ Portfolio and Capital On

Thank You for the link Pikaboo-icu about PRA, started reading it last night before bed.

Message 8 of 21
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Established Member

Re: Applied for new CC - found out I had poor score from issues in 2013 w/ Portfolio and Capital On


@FiresOut wrote:

@Firefighter1 wrote:

@FiresOut wrote:

Out of the 9 cards. Do any of them give you a free FICO score? If not. Discover Scorecard will give you a free EX FICO. Your collection is over 2 yrs old. Pay it and they will delete it. More points added.

 

 

I'm not hijacking this thread but i paid my account balance in full with PRA and so far they just updated it to paid. Have you had experience with them deleting an account without issue for you?


 


No.  Call them and ask about their new policy and inform them it wasnt removed. That is if its more than 2 y/o.


It's definately older than 2 years but i only paid it 10 days ago so i'll give them up to 90 days before i call them.

Message 9 of 21
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Established Member

Re: Applied for new CC - found out I had poor score from issues in 2013 w/ Portfolio and Capital On

Thx for the reply FireMedic1, I have seen a lot of valuable posts from you throughout the threads here....   I have no issue paying off the PRA but Firefighter's post has raised one of my concerns.....  at first I didn't know there was a distinction between PFD or PIF and how to make sure it is reported to my advantage and not "restart" the clock which is what some friends told me to beware of.........     I used Discover Scorecard to find this  ----        Fico 8 = 660       Total ACCTS = 14    Lenght of credit = 18yrs   Inquiries = 3  Missed Payments = 0 and Utilization = 29% .......

 

Util will be back under 18% before the next statements cut with a goal to get it under 8% but a little concerned that I zero balanced too many CC's after some were stupidly carrying a 80-90% balance routinely

Message 10 of 21
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