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Early Exclusion Experian Data Points (Some advice moving forward would be great)

ZeroQuest
Regular Contributor

Early Exclusion Experian Data Points (Some advice moving forward would be great)

So I was able to get an EX EE (3 Month Early Exclusion - 6 months early with TU) yesterday morning. (PITA getting a human on the phone, called 3-4 numbers) Once I reached someone in the dispute department (EX handles EE through dispute - I did not need a supervisor) they told me 24-72 hours and that I'd receive an email once it was taken care of. I received an email in about 2 hours informing me the dispute was opened, then about 2 hours later that it was being removed. About an hour after that I updated my MyFICO EX and sure enough, it was gone. (EX app also showed it was removed) Total time, about 4 hours (after 30-40 mins on the phone hunting for a human and 15-20 mins on hold before talking to someone)

 

As an aside: First Premier was (is still on EQ - off EX and TU) my final baddie. NEVER get on their bad side. They report monthly to all three until the full 7 years are up - it'll hurt bad! Especially bad in my case since I was over my limit by about 10% when the card was closed -- so for nearly 7 years it's reported 10% over limit with a monthly CO update. Every app I was denied for showed "recent serious deliquency" and many wouldn't touch me AT ALL until TU gave me an EE a few months back - Apple card for one. (Wife added me as AU on her AA, 6 months ago AA approved me for a Delta Gold, and a Gold a few months after that)

 

Fun times - lesson learned.

 

Anyway... for those curious, some data points...

 

Pre-final EX baddie data points:

- 19 accounts (all in my sig PLUS one auto loan with ~$3k remaining) 

- ZERO other baddies - outside First Premier reporting every single month (60+ 30 day lates in total on EX)

- 1% total util

- AAoA 2y 2m

- 4 Inq (Flagged as "seeking credit")

- ~$120k income

 

After Final Baddie FICO's: (Round brackets are pre-removal. No other changes of note)

Score 3 - 743 (636)

Score 5, 4, 2 - 726 (662)

Score 8 - 744 (651)

Score 9 - 763 (672)

 

Auto Score 5, 4, 2 - 753 (656)

Auto Score 8 - 750 (657)

Auto Score 9 - 771 (686)

 

Bankcard Score 8 - 762 (661)

Bankcard Score 5, 4, 2 - 710 (616)

Bankcard Score 9 - 776 (672)

 

So, questions...

 

My sig has all my cards listed. I'd REALLY love some advice as to my next steps and if they make sense, or if you guys have any other suggestions.

 

1. Begin cancelling my starter cards. (Credit One NEEDS the axe - I never used it, not once. Just pre-paid the monthly fee for history) Went ahead and cancelled my CO QuickSilver One just before the AF hit. My thinking is Credit One > Green Dot Plat (Oldest card, $400 secured) > Cap One QuickSilver ($600 card, I don't use it) > Merrick (Stopped growing last year) > Kohl's (Never use). Thinking one/month in that order, sound good? Worried cancelling too many at once could have a negative effect.

 

2. Plan to purchase a new vehicle soon, thinking 2-4 months. Any advice here? Should I pay existing loan off before or after new loan? Heard paying prior could hurt my score. Any reason I should just keep the payments and not pay it off? Monthly payment isn't much ~$250 - went with a cheap car during rebuild since it was high APR ~15%. Not sure if there's any benefit to having both active with one nearly PIF. 

 

3. Any general advice regarding my scores and a car loan and/or general advice regarding cards? I use AA Gold for my business -- paid off daily at end of day. Saving the miles for future vacations. (~85k MR on Gold plus ~65k MR on Delta so far) In no rush, but knowing they're there is nice. I'm thinking I'd like to try for the AA trifecta given that I push between 7-12k through whatever is my business card/month. I've also alternated between my BBVA for the 3x on business and my Apple to show usage for a bump in my CL this month as it's 90 days around the 7th. Just not sure what direction to go here and what benefit makes sense for me beyond travel and cash back. I'm sure my CO is bucketed, (my Discover is probably too) and honestly they've been very slow to grant CLI, so closing all 3 CO cards might not be out of the question. (Auto loan is through them too FWIW) As it sits, my AA Gold and BBVA get the most usage.

 

4. Chase. We burned them maybe 7 or so years ago with a Checking account we neglected and was closed. I'm not sure if they hold that against us. Since I'm past 5/24 anyway, I have no idea where I stand with them. Any advice regarding this? I have no clue what the balance was and haven't heard anything from them since it closed so many years ago.

 

Any other general advice, thoughts or tips? It's been a long slog, but definitely a great learning experiance and thankfully we had the resources to weather this. With that said, I have no intentions to ever get myself into the slightest hint of credit issues moving forward. it's a nightmare that lasts years and years.

 

Sorry for the massive post. Trying to get everything into one so as to limit posts.

 

Thanks so much everyone for any advice, and apologies for the long post!

 

For those on the road to recovery -- it's long, but every step in the right direction feels great. And when you near the end, the work you put in is worth it. Good luck!


Message 1 of 3
2 REPLIES 2
FireMedic1
Super Contributor

Re: Early Exclusion Experian Data Points (Some advice moving forward would be great)


@ZeroQuest wrote:

So I was able to get an EX EE (3 Month Early Exclusion - 6 months early with TU) yesterday morning. (PITA getting a human on the phone, called 3-4 numbers) Once I reached someone in the dispute department (EX handles EE through dispute - I did not need a supervisor) they told me 24-72 hours and that I'd receive an email once it was taken care of. I received an email in about 2 hours informing me the dispute was opened, then about 2 hours later that it was being removed. About an hour after that I updated my MyFICO EX and sure enough, it was gone. (EX app also showed it was removed) Total time, about 4 hours (after 30-40 mins on the phone hunting for a human and 15-20 mins on hold before talking to someone)

 

As an aside: First Premier was (is still on EQ - off EX and TU) my final baddie. NEVER get on their bad side. They report monthly to all three until the full 7 years are up - it'll hurt bad! Especially bad in my case since I was over my limit by about 10% when the card was closed -- so for nearly 7 years it's reported 10% over limit with a monthly CO update. Every app I was denied for showed "recent serious deliquency" and many wouldn't touch me AT ALL until TU gave me an EE a few months back - Apple card for one. (Wife added me as AU on her AA, 6 months ago AA approved me for a Delta Gold, and a Gold a few months after that)

 

Fun times - lesson learned.

 

Anyway... for those curious, some data points...

 

Pre-final EX baddie data points:

- 19 accounts (all in my sig PLUS one auto loan with ~$3k remaining) 

- ZERO other baddies - outside First Premier reporting every single month (60+ 30 day lates in total on EX)

- 1% total util

- AAoA 2y 2m

- 4 Inq (Flagged as "seeking credit")

- ~$120k income

 

After Final Baddie FICO's: (Round brackets are pre-removal. No other changes of note)

Score 3 - 743 (636)

Score 5, 4, 2 - 726 (662)

Score 8 - 744 (651)

Score 9 - 763 (672)

 

Auto Score 5, 4, 2 - 753 (656)

Auto Score 8 - 750 (657)

Auto Score 9 - 771 (686)

 

Bankcard Score 8 - 762 (661)

Bankcard Score 5, 4, 2 - 710 (616)

Bankcard Score 9 - 776 (672)

 

So, questions...

 

My sig has all my cards listed. I'd REALLY love some advice as to my next steps and if they make sense, or if you guys have any other suggestions.

 

1. Begin cancelling my starter cards. (Credit One NEEDS the axe - I never used it, not once. Just pre-paid the monthly fee for history) Went ahead and cancelled my CO QuickSilver One just before the AF hit. My thinking is Credit One > Green Dot Plat (Oldest card, $400 secured) > Cap One QuickSilver ($600 card, I don't use it) > Merrick (Stopped growing last year) > Kohl's (Never use). Thinking one/month in that order, sound good? Worried cancelling too many at once could have a negative effect.

If Green Dot is your oldest card or Cap1's QS1 is close to it being the oldest. Close Grenny. Keep Cap1open. Keep the QS1 open for age of oldest account for FICO scoring. Closing the others wont affect you until they fall off in 10 yrs.

 

 

2. Plan to purchase a new vehicle soon, thinking 2-4 months. Any advice here? Should I pay existing loan off before or after new loan? Heard paying prior could hurt my score. Any reason I should just keep the payments and not pay it off? Monthly payment isn't much ~$250 - went with a cheap car during rebuild since it was high APR ~15%. Not sure if there's any benefit to having both active with one nearly PIF. 

 

3. Any general advice regarding my scores and a car loan and/or general advice regarding cards? I use AA Gold for my business -- paid off daily at end of day. Saving the miles for future vacations. (~85k MR on Gold plus ~65k MR on Delta so far) In no rush, but knowing they're there is nice. I'm thinking I'd like to try for the AA trifecta given that I push between 7-12k through whatever is my business card/month. I've also alternated between my BBVA for the 3x on business and my Apple to show usage for a bump in my CL this month as it's 90 days around the 7th. Just not sure what direction to go here and what benefit makes sense for me beyond travel and cash back. I'm sure my CO is bucketed, (my Discover is probably too) and honestly they've been very slow to grant CLI, so closing all 3 CO cards might not be out of the question. (Auto loan is through them too FWIW) As it sits, my AA Gold and BBVA get the most usage.

 

4. Chase. We burned them maybe 7 or so years ago with a Checking account we neglected and was closed. I'm not sure if they hold that against us. Since I'm past 5/24 anyway, I have no idea where I stand with them. Any advice regarding this? I have no clue what the balance was and haven't heard anything from them since it closed so many years ago.

 

Any other general advice, thoughts or tips? It's been a long slog, but definitely a great learning experiance and thankfully we had the resources to weather this. With that said, I have no intentions to ever get myself into the slightest hint of credit issues moving forward. it's a nightmare that lasts years and years.

 

Sorry for the massive post. Trying to get everything into one so as to limit posts.

 

Thanks so much everyone for any advice, and apologies for the long post!

 

For those on the road to recovery -- it's long, but every step in the right direction feels great. And when you near the end, the work you put in is worth it. Good luck!


Now the CO with FP. If it still has a balance. Especially at 10% OTL. That goes against your aggregate util. Killer. If there is a balance. Call and settle to clear the balance. Paid is better than owed. But the CO status will stay for the  7 rs. With Chase its a toss up. Make sure your not listed on ChexSystems. If your on there. Problem from the Chase account. If its over 7yrs it should fall off. Best bet go to a brach and talk to a CSR to see where you sit. Hopefully you dont owe them a penny. Chase has a pretty good memory. The 5/24 applys to cards and not checking. Good Luck!






My posts are JMHO. My siggy is not to brag at all. Just sharing my experiences after learning here from rebuild to recovery after BK DC @ 540's.
Message 2 of 3
ZeroQuest
Regular Contributor

Re: Early Exclusion Experian Data Points (Some advice moving forward would be great)


Now the CO with FP. If it still has a balance. Especially at 10% OTL. That goes against your aggregate util. Killer. If there is a balance. Call and settle to clear the balance. Paid is better than owed. But the CO status will stay for the  7 rs. With Chase its a toss up. Make sure your not listed on ChexSystems. If your on there. Problem from the Chase account. If its over 7yrs it should fall off. Best bet go to a brach and talk to a CSR to see where you sit. Hopefully you dont owe them a penny. Chase has a pretty good memory. The 5/24 applys to cards and not checking. Good Luck!

I mentioned FP as a DP for others really. It falls off EQ in Sep, so I'm not real concerned about it. And both TU and EX are 100% clean, no missed payments, nothing.

 

As for Chase, I did pull Chex and there's nothing there. We only had a checking, no CC, so I'm not real sure where we stand. When I try for pre-approval, it immediately shows that they have nothing for me. However, I just hit scores where I'd expect something to show, except I'm way outside 5/24 and will be for around a year.

 

As for the greendot/capone, I'll take that advice - thanks!


Message 3 of 3
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