This is my first post here.
I have had a Fingerhut fresh start account that I made two on time payments to, but missed one payment and my score dropped 170 points on TransUnion, and 167 point on Experian. I was hoping to get some assistance one why this many points were dropped. I take it this is Credit Karma Vantage scores. It doesnt matter if it was your 3rd or 300th payment. It was late. That many points must be from a thin file.
I have one account in collections that is not mine and I am sending in some section 609 letters demanding documents where I signed up for it, all they provide when I dispute is a creditcard statement from Capital One which is not proof that I opened the account. Does the statement havre all the correct info that matches you? Is the collections from an account you had in the past? If not. Fraud time.
My score is 376 right now, I have 25 inquiries that I'm also going to get removed (You cant get HP's deleted from a credit report unless they were fraud) and a Goodwill letters from creditors as I did sign for them. I know those can drop scores a lot, but one missed payment out of 3 payments total on my credit report.
Any comments that can help me to understand what to do, and if Fingerhut will remove it as a generousity since I have paid my balance in full when I saw it drop 170 points. You could try and ask for forgiveness. But being such a new account and you were late on the third payment after account opening wont hold much water. Sorry.
When rebuilding you cant have any slip up's. Thats why it's a fresh start program and you got an "F" on one of your tests out of 3. Apparently you been going app crazy with seeking credit with 25 HP's unless you were car/home shopping. Time to fix whats broken first before moving forward. Follow this thread to fix the fraud: https://ficoforums.myfico.com/t5/General-Credit-Topics/Victim-of-Identity-Theft-What-To-Do-to-Protec...
Once you can get this all resolved. You cant have any more late payments. If you cant pay the statement bill when it post. Dont charge it. Maybe grab a secured card like Open Sky that doesnt do HP's and everyone is approved to have some type of a revovling account. Clean up the negs. Then you can move forward. Sock drawer the Fingerhut. Dont pay for thngs that cost twice or more for their products. And please wait it out until all those HP's fall off in a year off FICO. That will help you score.
I'm sure there are other negs you didnt list since your score is low. If you want to post what went wrong. Were more than happy to help you recover. I tell it like it is. Not to get on you. Just point out the mistakes that are being made. And we can help to correct them. Welcome to the forums!
While your at it. Go to https://www.creditchecktotal.com/ and get your 3 FICO scores for $1 and then cancel before the trial is up. You'll see the difference between FAKO scores and your real scores. You can post them for more help.
My score is 376 right now, I have 25 inquiries that I'm also going to get removed and a Goodwill letters from creditors as I did sign for them. I know those can drop scores a lot, but one missed payment out of 3 payments total on my credit report.
I'm a little confused about you saying that you did not sign for the 25 inquiries. Did you seek/apply for cards, loans etc.. ?
Yes, I did authorize the HPs as I was trying to get a Capital One Platinum, then secured and got denied for both. I had a credit card for a year with them and they closed the account and told me it was fraudulent and removed the entire history of it from my reports when it was not a fraudulent and it was a perfect payment and utilization combination. I can't get any Capital One products anymore sadly, blacklisted. Then I also started getting denied from secured cards like discover it secured and even their student card (only had four HPs at this point) and I just went ahead and tried as many as I could because I didn't understand credit. I'm only 21 and I started my credit building at 19. I do however, have a legitimate fraudulent collections account from Capital One on my report that they only show the statement, not the signature of the agreement. I was in 24 different foster homes so it could be so many people that could have opened it in my name.
When Capital One closed my second legitimate account for "Fraud", I got blacklisted and they won't tell me how to get unblacklisted as I did nothing wrong. Not only that, but they didn't inform me of any investigation until after they had closed and removed it, then sent a letter saying they completed the investigation of fraud.
I'm so frustrated to be honest. :/
Since you authorized the hard pulls, they likely won't be removed. They typically age off in 2 years, but have less of an impact overtime.
You need to follow FireMedic1's advise and get your real Fico scores. Vantage scores are not used in lending decisions and can vary greatly from Fico scores. You also need copies of your reports to see everything that is dragging your score down. I would also stop applying for cards in the meantime, it will only make things worse.
Building a strong credit profile takes time, responsibility, attention to detail and hardwork. It will not happen overnight, but you can do it with the help of others here on the forum.
@grower1 FICO holds inq's for 1 year. Then they dont count anymore against your score. But they stay on your report for 2 yrs. Thats why I said wait a year for all those to fall off.