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Hi all --
After some terrible financial decisions in my past, I have begun the process in rebuilding my credit.
I'm currently at:
EX 532
EQ 507
TU 520
I have:
- $1737 old Cap One account listed under closed accounts as paid, closed, but revolving -- even though it is now being handled by firstsource advantage.
- $1796 portfolio recovery for comenity (on report twice also showing as comenity as closed, zero balance, but revolving)
- $830 portfolio recovery for cap one (to be paid off 2/16)
- $475 Amerassist (to be paid off 3/16)
I have already paid off a 4 others, 1 has stayed on as collections, 1 was removed by midland, and the two others never made it to my report since I paid right away right before it could hit. However, on my TU and EQ I have one additional showing even though the CA said if I got on a payment plan or paid it before a certain date they would not report it and it has a $100 balance but I have prevously paid in full. Can I dispute this?
I have postive paid debt as well, such as: 23,000 car loan current and paid off, 3 cc's current and paid off, 1 installment loan current and paid off (I had one late payment so EQ & TU is reporting as delinquent?), 1 open low balance loan current and being paid as agreed. I am also a authorized user on my step-dad's card, but he has a high balance of $2832 of $3000 CL and only paying minimum, but never late -- it has also been open since 2006.
I'm currently working to pay the lower two collections, which should be done by march and then focus on paying the two higher collections within 5 months beginning in march. Also, I only have two collections reflecting, one that has been paid and the $475 amerassist -- except for EQ and TU -- it's showing the paid off caine & warner that said they wouldn't report. Portfolio accounts are being listed as other accounts, and the $1737 cap one is listed under cap one as closed and revolving and not firstsource advantage.
I'm seeking advice as to what I should do to increase my credit score. I want to get a secured credit card, but scared of getting denied and hurting my score. I also want to know if I should even still stay on as an AU on my dad's card. I feel like it is doing more bad than good. but will it decrease my already low scores?
Thanky you in advance for your help!
Thank you for the advice!
The collection - I paid it off last month and it's still showing. I will have to call and inquire.
I think I am going to remove myself from the AU card. Do you think that that will affect my score? I'm trying to avoid anymore dings.
Well, it might take a ding but more likely your scores will go up. Don't be afraid to try different approach to rebuild your credit. Some people find errors in reporting, some get goodwill removals and others just rebuild with negatives still reporting and still making 700 scores.
Thank you all for your help!
I took the advice and submitted a dispute to have the AU account removed. I recently paid off a Portfolio Recov acct and my EX score jumped to 570! I'll have to wait until EQ and TU refresh to see how much those jumped. After the increase, I took the simulator advice for a 600 simulated score if I open a CC and took my chances in applying for a Discover IT Secured CC and got approved! I opened it with a $300 CL.
Very excited to keep rebuilding my credit! Thank you all for your help!
Congratulations on the approval.
Until you get rid of all collections/charge-offs, your score will be stifled.
Anything by Portfolio gets deleted off all three credit bureaus upon payment.