cancel
Showing results for 
Search instead for 
Did you mean: 

Harmony12 Rebuilding Journey

Regular Contributor

Harmony12 Rebuilding Journey

Inspired by others on myFico, I wanted to keep a log of my rebuilding. I apologize ahead of time for the long post.

 

I initially started my credit rebuilding 4 years ago and I started off well with paying a few things off and landing some new credit. I later decided to quit my job and go back to school. This caused me to max out credit cards for unexpected expenses and some were charged off. Fast forward to June 2018 after graduation I started a new career. I started to do a harsh look at my credit report because I knew I needed a new car. I had several credit card and utility charge offs, collections, an auto charge off, and 15-20 30 day, 60 day, and 120 day lates for each revolving/installment account. The only positive current credit was my student loans and few closed CCs that I used only once.

Starting CK FAKOS 6/28/2018

TU

503

 

EQ

498

 

Discover EX

537

 

 

July – Started paid myFico subscription

FICO Score 8 7/7/2018

EX

557

TU

566

EQ

514

 

I made a few more than minimum payments to start the process. I also set up a payment plan with Comenity Bank with my CO Victoria Secret card. I disputed a couple of collections for being too old and for being unknown. I was able to successfully remove Pioneer Credit Solutions and Enhanced Recovery Collection through a CRA dispute.

Throughout July, every week I tried for COAF ( Capital One Auto Navigator). I was initially always denied because of being over the limit and behind on payments for Capital One cards.

 

July end of the month

I have recently been approved for COAF through Auto Navigator at 12.02% for $32k. I have brought my utilization down a lot and I have gotten caught up on all but a few cards. One of those cards is with NFCU and I'm hoping to have at least half of it paid by September. With a rate of 12.02% its still a little higher than I want but a lot lower than my previous loan. My previous loan with Santander was almost 22% WOW! 

 

My timeline to purchase is end of November/first of December. I'm hoping I can get under 10% with COAF by then. Also, I still plan to get a settlement with Santander in the next few months. 

 

-CRA change

EXPERIAN -

TRANSUNION - +1

EQUIFAX - +8

 

August

FICO Score 8 8/8/2018

EX

575

TU

579

EQ

543

 

I now have a couple of months of on time payments and without being over the limit on most credit cards.

 

*August 28-29 2018

 *I did Capital One Auto Navigator again and got 9.31% for 48-72 months and 7.45% for 36 months or less. I was going to wait another month to get my score up more but I didn't want to pass up on the current deal. (Portfolio Recovery Associates were doing soft pulls on my credit report.) I took the 9.31% for 0 down for a Buick Encore.

-Debt Payment

-Inquiry

 

+1 from Capital One – Equifax

+1 from Capital One – Transunion

+1 from Ally Financial – Transunion

+1 from GM Financial– Transunion

+1 from Auto Dealership – Transunion

+1 from Capital One – Experian

+1 from Capital One – Santander

 

-CRA change

EXPERIAN - +10

TRANSUNION - +17

EQUIFAX - +5

 

September

FICO Score 8 9/8/2018

EX

582

TU

596

EQ

543

 

-Debt Payment

PIF Capital One Platinum, Capital One Maurices, Comenity Bank J-Crew, Center Point Energy (utility CO), Comenity Bank Victoria Secret

 

Comenity Express - sold to Portfolio Recovery Associates

Original Debt $657 - settled $427.43 65%

*Note* PRA stated will not report payment or nonpayment to CRA or sue. When I talked to the first person I was confused so I hung up and called back. The second person confirmed what I heard was correct. She stated they are unable to report my account to CRA or sue. I thought whether or not I should make the payment. I went ahead and made payment with the settlement because I didn't it to be sold again then later  be sued, etc.

 

First Premier Bank - sold to Jefferson Capital Systems

Original Debt $439.34 - settled $250.00 57%

 

-Inquiry

 

+1 from Discover Secured Card;

 

-Miscellaneous

 

Received email from Discover; will get card in 3-5 business days with $500 limit. I got the Discover card in the mail the same day.

 

-CRA change

EXPERIAN - +21

TRANSUNION - +9

EQUIFAX - +7

Starting CK FAKOS 6/28/2018
TU 503
EQ 498
Discover EX 537

FICO Score 8 7/7/2018
EX 557
TU 566
EQ 514

Current FICO Score 8 as of 2/11/2019
EX 618
TU 626
EQ 571

Goal Score 650
Message 1 of 10
9 REPLIES
Regular Contributor

Re: Harmony12 Rebuilding Journey

Continued from September...

 

-CRA change

EXPERIAN - 0

TRANSUNION - -15

EQUIFAX - -21

 

I had a couple of payments I made previously to finally start reporting. I gained +3 points for decreasing my CC utilization on one card by 100% on Equifax. I lost -7 points by going over the limit on one CC on Transunion. I gained +13 points for decreasing my CC utilization on one card by 100% on Transunion (same card I gained +3 on EQ). I lost -21 points for a paid collection with PRA starting to report after I paid on Transunion.  I lost -24 points for a paid collection with PRA starting to report after I paid on Equifax.

 

Note* Read more about my paid collection with PRA here. https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Paid-collection-Portfolio-Recovery-now-on-CR...

Starting CK FAKOS 6/28/2018
TU 503
EQ 498
Discover EX 537

FICO Score 8 7/7/2018
EX 557
TU 566
EQ 514

Current FICO Score 8 as of 2/11/2019
EX 618
TU 626
EQ 571

Goal Score 650
Message 2 of 10
Frequent Contributor

Re: Harmony12 Rebuilding Journey

I like reading people's journeys. Thanks for sharing yours.
Wandered out of the garden for a bit and bought myself a house. YAY! Grabbed a couple cards while I was out there too but now I am back for at least six months, if not longer. Time to let the good cards I already have grow and get focused on paying down this mortgage.

MikkiD's rebuild page

Message 3 of 10
Regular Contributor

Re: Harmony12 Rebuilding Journey

 

 

 

 Thank you; I think it helps others to know how their scores will be affected or not affected. I will continue to add as months go by.

Starting CK FAKOS 6/28/2018
TU 503
EQ 498
Discover EX 537

FICO Score 8 7/7/2018
EX 557
TU 566
EQ 514

Current FICO Score 8 as of 2/11/2019
EX 618
TU 626
EQ 571

Goal Score 650
Message 4 of 10
Frequent Contributor

Re: Harmony12 Rebuilding Journey


@MikkiD wrote:
I like reading people's journeys. Thanks for sharing yours.

I do, too! It makes me feel like I'm not alone.


I am in the garden until next year!




Collections: 1 (medical-paid: $80)
Late Payments: 1 (30 day from 2013-GOODWILL GRANTED! 10/31--Should be deleted soon--Still waiting!)
Starting Scores (3/2018): 580 range
Message 5 of 10
Regular Contributor

Re: Harmony12 Rebuilding Journey

 

Starting CK FAKOS 6/28/2018
TU 503
EQ 498
Discover EX 537

FICO Score 8 7/7/2018
EX 557
TU 566
EQ 514

Current FICO Score 8 as of 2/11/2019
EX 618
TU 626
EQ 571

Goal Score 650
Message 6 of 10
Regular Contributor

Re: Harmony12 Rebuilding Journey

**OCTOBER UPDATE**

 

October EOM scores EQ 564 TU 613 EX 603

 

3-Oct    
 I did the shopping cart trick  (I did it the first time years ago). I was pre-approved for NY&C but I didn't see a SL. I proceeded to put my last 4 SSN because I knew I had the inquiries to use but I didn't have an account with them. Later in the day I received I a hard credit inquiry alert. I thought I wasn't approved until a couple of days ago I got a new account alert on my credit reports for NY&C. I just wanted to test the scenerio, had extra inquiries to use, could use the extra credit, and actually shop at NY&C.    
     
Equifax Experian Transunion
3-Oct 4-Oct 19-Oct
+13 Paid Utility Charge off -11 PRA collection -7 Utilization increased on CC
24-Oct 22-Oct 24-Oct
+7 New CC added Comenity Bank NY&C via shopping cart trick +14 Utilization increased on 2 CC +21 PRA collection removed
+22 Utilization incease on CC 24-Oct +9 Utilization increased on CC
  +4 New CC added Comenity Bank NY&C via shopping cart trick  
     
-Inquiry    
     
+1 from Comenity NY&C;     

 

*Note - I will be purchasing a home around September 2020 so my long term goal is to have all 3 scores above 700 so I don't have any issues with getting approved for a mortgage.

Starting CK FAKOS 6/28/2018
TU 503
EQ 498
Discover EX 537

FICO Score 8 7/7/2018
EX 557
TU 566
EQ 514

Current FICO Score 8 as of 2/11/2019
EX 618
TU 626
EQ 571

Goal Score 650
Message 7 of 10
Regular Contributor

Re: Harmony12 Rebuilding Journey

**NOVEMBER UPDATE**

November EOM scores EQ 571 TU 623 EX 605

 

I don't have much to report for November but I did have some improvements.

Starting CK FAKOS 6/28/2018
TU 503
EQ 498
Discover EX 537

FICO Score 8 7/7/2018
EX 557
TU 566
EQ 514

Current FICO Score 8 as of 2/11/2019
EX 618
TU 626
EQ 571

Goal Score 650
Message 8 of 10
Regular Contributor

Re: Harmony12 Rebuilding Journey

**DECEMBER UPDATE**

 

Not much to report for December other than a new CC approval for Captial One QS1 w/ a $300 SL. I know,  I know, why whould I get another Cap One QS1?.?. Well, I never completed the credit stepts from any Cap One cards so this time I want to make sure I complete it to make myself elgible for CL increases in the future. I also plan on combining both QS1 cards within 6 months - 1 year.

Starting CK FAKOS 6/28/2018
TU 503
EQ 498
Discover EX 537

FICO Score 8 7/7/2018
EX 557
TU 566
EQ 514

Current FICO Score 8 as of 2/11/2019
EX 618
TU 626
EQ 571

Goal Score 650
Message 9 of 10
Regular Contributor

Re: Harmony12 Rebuilding Journey

**January UPDATE**

 

I'm stil waiting to receive my card from CAP One that I was approved FOR ON 12/31. It seems they are having shipping issues because I have ordered 3 different cards. I have paid down more cards and I'm hoping for a score boost in Feburary or March. Also, whenever I receive my new card that will give more utilization.

 

My EOM score were.

 

TU - 626

EX - 617

EQ - 565

Starting CK FAKOS 6/28/2018
TU 503
EQ 498
Discover EX 537

FICO Score 8 7/7/2018
EX 557
TU 566
EQ 514

Current FICO Score 8 as of 2/11/2019
EX 618
TU 626
EQ 571

Goal Score 650
Message 10 of 10