Feeling frustrated things are taking awhile?

[mamatried]

It gets better! I haven't been on here much lately, but I wanted to come on and say for folks in the 500's and below, with collections and can't get approved for anything, feeling freaked out and frustrated.... YOU CAN DO THIS!

A little over a year ago, I cracked down hard and I've raised my score from 490 - 510 up past 650 and have gotten some decent majors approved for more than the toy limits. It has been a slow GRIND, but it has been worth it and feels SO good! 

Make a plan.
Stick with it.
Monitor and tweak your plan as you go. 
Keep reasonable expectations... raising 100+ points takes work and TIME. 
Stay on track. Stay out of trouble!

You got this!

Credit Karma:

Utilization 35% (keeping it between 1-9% is best, but I had some unexpected expenses.. should go back down in 30 days)
Payment History 99.3% - I was able to get all but one old late pay removed

Derogatory Marks - 0 - I have 2 paid collections showing, I was able to get 8+ paid collections deleted

Age of Credit History - 1 year 8 mo - only time will help this

Total Accounts - 16 (some not reporting yet)

Credit Inquiries - 20, I had quite a few before I realized they pinged you.. Stupid, I know! Lesson learned! Time will heal! 

For those on mobile:

12/23/14: 536

2/19/16 655

MAJORS: $4K Cap1 QS, $3K Southwest, $2,500 BOA, $2,500 Discover, $500 Chase Freedom, $500 Citi Best Buy, $500 Cap1 Platinum, $300 BuyPower GM, $300 US Bank H-D

STORE: $1K Macy's, $600 Old Navy, $600 Home Depot, $300 Gap, $250 @Kohl's, VS, J Crew, $1,800 Care Credit

LOANS: $12K Ally Auto, $300 Student Loan

[evsports7]

Thank you for the inspiration. I am have recently started to fix my credit. Just recieved my captial one secured credit card with 200.00 limit in the mail. I have also applied for the Citi secured mastercard (pending approval)... Thanks for giving us all hope, like you said just stick with a plan. 

[mamatried]

My situation was a TRAIN WRECK that I ignored for years... if I can do it, ANYONE can do it! You got this! Cap1 has been good to me even though I burned them way, way back. I did the $200 Secured Card with them in January 2015 and I want to say after using and paying in full (PIF) every month for around 6 months, they gave me a credit limit increase (CLI) to $500 without an additional deposit.

When I applied for their unsecured Quicksilver around July 2015, I was instantly approved for $1,500. After 5 months of on-time, PIF, they bumped me to $4K. 

I originally started with the US Bank Harley-Davidson Secured Visa for $300 in 2014. I keep that card for the reporting, but I was hoping it would graduate to unsecured or get a CLI and no cigar. They've told me to graduate it to unsecured it is really applying for a new line and closing the old one. I don't want to do that as I need that age so I'm just letting that one sit in the garden.

If I did it over again, I would of done what you're doing with the Cap1 secured. US Bank isn't bad and it's certainly better than some of the sub-prime cards out there, but like I said, keep expectations low on that one if you go for it.

[evsports7]

I heard capital one does not do increases on their secured credit cards. Is this true?

[mamatried]

I believe Capital One eliminated credit limit increases on secured cards if you want to deposit more funds to give yourself a CLI. They gave me an unsecured CLI, without me asking on a $200 secured card. It is now $500 limit even though I only deposited $200. 

Capital One has step programs so as long as you pay on time, they will give you a CLI on their cards after 5 - 12+ months. 

[Anonymous]

How were you able to get your paid collections deleted from your report? I've sent goodwill letters but have only heard back from Synchrony Bank so far. (Who told me "no")

[Anonymous]

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@Anonymous wrote:

How were you able to get your paid collections deleted from your report? I've sent goodwill letters but have only heard back from Synchrony Bank so far. (Who told me "no")

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My version...one was GW, one was PFD with a cable box return, collection had to be dropped.  One was a long hard battle with self taught research of Consumer Law.  Use this forum,  google, it takes work and lots of time. Learning accuracy of reporting takes months, but is rewarding.  Buy stamps in bulk also help!

One 60 day late all 3 bureaus, One paid collection 2 bureaus as of this posting.  Rehab technically started Jan 2015 with Open Collections x4, 60 day late pay, Charge Off.

[mamatried]

I paid my open collections before I realized that I should have tried to negotiated PFDs. I wrote heartfelt, honest goodwill letters about my circumstances at the time of the collection and then about my rebuilding and goals for today. One of them agreed right away. Several took a few months of calling and calling and writing many emails and letters. There are still two. One has said they'd delete, but it's still on there as paid. The other one.. for $36 UGHHHHH is stubborn and refuses to delete... but I'll keep asking and asking and asking... it's a marathon.. a slow burn... don't give up, don't get frustrated, just treat it like a job and keep ticking at it over time. 

[Anonymous]

Thank you for sharing your story ... I'm in the same boat as you were basically ... so it's nice to see it all works if you work at it

Progress is happening, but slow of course. 

[Method2Madness]

I know this is a bit late, but regarding Capital one CLI on secured cards, they absolutely DO still do CLIs. I just got one 5 months after opening the card. Started with $250, now at $550.