Can't come from behind

[Anonymous]

I am trying to work hard towards buying a house. I have been on a credit rebuilding journey for a little while but I can't seem to get my scores to bounce back. A little over two years ago my scores tanked, due to being 90 days late on a car loan and credit card while unemployed.

Right now I have student loan debt, in good standing (never late)

3 credit cards with zero balance - no late payment reported in the last 2 years.
1 credit card 200/2000 - 3 late payments 2 years ago over 90 days late, current ever since.

I still have my car loan that I owe about 9k on in good standing, never late since the 90 day late I spoke on above.

I cannot get my scores above 590. I'm trying to figure out what more I can do besides wait.

[simplegirl]

You can try to get a goodwill adjustment to those Lates and never let all your cards report zero. One card should report 8.9% of the credit limit.

[coreysw12]

It seems like something is missing from your credit picture here. Considering that everything is current now and low utilization %, good credit mix, and that it's been 2 years since any late payments (and the late payments weren't even THAT bad really, they apparently didn't result in chargeoffs or go to collections), your scores should be MUCH higher than that, like easily in the 700's.

Are you sure there aren't any collections on your report? public records? Anything that's reporting something derogatory every month? There must be something missing from this picture, because the way you describe your credit profile, it should definitely not be stuck at 590.

Are these FICO scores? or is it something like a vantagescore?

[Anonymous]

2 paid collections accounts. One was $607 and one was $112.

Other than that I have old accounts that have been closed for years from back when I knew nothing about credit but those have been marked as charged off and paid.

[Anonymous]

I tried the good will route and was denied several times. Also one card reports $200/2000 I pay my car insurance with that card and then pay off monthly to keep my utilization in an optimal range.

[BallBounces]

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@Anonymous wrote:
2 paid collections accounts. One was $607 and one was $112.

Other than that I have old accounts that have been closed for years from back when I knew nothing about credit but those have been marked as charged off and paid.

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A couple thoughts:

1) "Charged off and paid".  This isn't a good thing.  Those are negative items which will continue to depress your scores.  As you said, time will heal those wounds.  How old are they? 

2) With whom are the old charge offs and colleections?  some folsk here can offer specific GW advice perhaps. Yopu said you've tried ... may need to try again.

3) That single card reporting 10% each month?  That's really good.  But how bout letting it report 8% instead?  Might be worth a try.

Fundamentally, you have said: "My reports look good ... except all these things."  Well, time needs to heal all those things.  Believe me, I have been there more than once. 

[Anonymous]

Its at 10% of that card but I have 3 others cards with a total available credit of 10K across the 4. I just only use that one as its my only rewards card.

The collection account was with Progressive Auto Insurance.... I'm not even sure how that happened because I was never behind and switched to a different provider. When I checked my report 2 years later I saw the account and corrected it. I've tried for years to get it removed and they won't budge.

The goodwill letters would be going to Capital 1 and Honda Financial Services everything I read here says they barely budge with deleting the late payments.

[Anonymous]

Sorry I realized I didn't answer your questions fully. One collection account was paid 1 year ago that was Progressive. The other was Syncrony that was paid 2 years ago.

[BallBounces]

I understand the 10% is on one card.  Try making it look like 8% .... not 10% reporting.  Nothing to lose, something small to gain.  (It IS reporting right? You aren't PIF before it reports.)

HFS and C1 are tough.  I'd still make the good effort.

Are the scores you reported FICO 08s?

[Anonymous]

Yes I wait for it to report. I can change the utilization I just thought it was across all your accounts overall not just one card. I use the score from Experian's website and my Capital One app. I'm planning to meet with the bank about a mortgage in a month and see what they say regarding my situation as well.