Here is my full credit report. Need help rebuilding.

[mrrichsin]

Hey all,

I have been a long time reader of the forums and have finally committed to rebuilding my credit. After messing up my credit 3 years ago and back, I have only used cash.

It's a bit embarassing when you see what you have done visually as these amounts are not huge and I can certainly pay everything off before the end of the year.

This is where I need some help. I would really appreciate if you guys would give me a good plan of attack to get my credit back on course. 

Which accounts should i do PFD's or GW's with? How should I approach the judgement? Is there anything else I can do with rebuilding in terms of secured cards/loans?

A little brief summary of what I have been doing for 2 months:

- Took out a CreditOne card, got approved for $300 unsecured, suprisingly. I don't know how I let it happen, but I let it report such a high balance, I am current on all payments, but my timing was totally off. Any rules onwith how to pay my credit card balances so they report low utilization?

- One night I did multiple app's to see as much cards as I can get. I plan on not doing any inquiries for a while.

- I got approved for a Capital One - $99 Deposit and $200 line.

- Opened an account with DCU so I can get another secured card.

- Able to do a secured loan with a $1000 if needed.

- Opening a new secured card with Wells Fargo, my bank, this week. I actually wanted to wait for some feedback before I did that.

Credit Score

555

Report Date

09/25/2013

Open Accounts

1

Closed Accounts

9

Negative Accounts

8

Accounts Summary

  Open Accounts Closed Accounts Negative Accounts Total Balance

Approximate Total Credit Debt:	$2,915
Real Estate	0	0	0	$0
Revolving	1	7	6	$2,915
Installment	0	2	2	$0
Student Loan	0	0	0	$0
Medical	0	0	0	$0
Uncategorized	0	0	0	$0

Number of Public Records

1

Number of Credit Inquiries

7

Accounts

CREDIT ONE BANK Jul 8, 2013 This is an account in good standing Individual (702) 269-1000 PO BOX 98875 LAS VEGAS NV 89193

Credit Limit Current Balance High Balance Minimum Payment $300 $291 $303 $25

Account Name/Number Opened Status Owner Contact Information CAP ONE Nov 26, 2008 Unpaid balance reported as a loss by credit grantor Individual PO BOX 85520 RICHMOND VA 23285

Credit Limit Current Balance High Balance Minimum Payment $500 $1,452 $0 $0

Additional Remarks Unpaid balance reported as a loss by credit grantor Account closed at credit grantor's request Account status last updated Sep 1, 2009

CAP ONE Apr 13, 2007 Unpaid balance reported as a loss by credit grantor Individual PO BOX 85520 RICHMOND VA 23285

Credit Limit Current Balance High Balance Minimum Payment $500 $0 $0 $0

Additional Remarks Unpaid balance reported as a loss by credit grantor Account transferred to another lender Account status last updated Apr 1, 2010

FIRST PREMIER BANK Jan 10, 2010 Unpaid balance reported as a loss by credit grantor Individual (605) 357-3440 601 S MINNESOTA AVE SIOUX FALLS SD 57104

Credit Limit Current Balance High Balance Minimum Payment $250 $456 $0 $0

Additional Remarks Unpaid balance reported as a loss by credit grantor Account status last updated May 1, 2010

FIRST PREMIER BANK Jun 4, 2008 Account/paid satisfactorily Individual (605) 357-3440 601 S MINNESOTA AVE SIOUX FALLS SD 57104

Credit Limit Current Balance High Balance Minimum Payment $250 $0 $223 $0

Additional Remarks Account/paid satisfactorily Account closed at consumer's request Account status last updated Aug 1, 2008

HSBC BANK Jul 16, 2008 Unpaid balance reported as a loss by credit grantor Individual (800) 477-6000 PO BOX 5253 CAROL STREAM IL 60197

Credit Limit Current Balance High Balance Minimum Payment $300 $0 $0 $0

Additional Remarks Unpaid balance reported as a loss by credit grantor Account transferred to another lender Account status last updated Dec 1, 2009

HSBC BANK Mar 6, 2007 Unpaid balance reported as a loss by credit grantor Individual (800) 477-6000 PO BOX 5253 CAROL STREAM IL 60197

Credit Limit Current Balance High Balance Minimum Payment $0 $0 $0 $0

Additional Remarks Unpaid balance reported as a loss by credit grantor Account transferred to another lender Account status last updated Jun 1, 2009

MCYDSNB Jun 6, 2007 Unpaid balance reported as a loss by credit grantor Individual (800) 243-6552 9111 DUKE BLVD MASON OH 45040

Credit Limit Current Balance High Balance Minimum Payment $0 $716 $0 $0

Additional Remarks Unpaid balance reported as a loss by credit grantor Account closed at credit grantor's request Account status last updated Jun 1, 2010

PORTFOLIO RECVRY&AFFIL Sep 27, 2010 Account legally paid in full for less than the full balance Individual (800) 772-1413 120 CORPORATE BLVD STE 1 NORFOLK VA 23502

Original Balance Current Balance Monthly Payment Loan Term Last Payment $117 $0 $0 1 months Jan 14, 2011

Loan Type Additional Remarks Unknown - Credit Extension, Review, Or Collection Original Creditor: HSBC BANK NEVADA N.A. Account legally paid in full for less than the full balance Account status last updated Feb 1, 2011

PORTFOLIO RECVRY&AFFIL Apr 19, 2010 Account legally paid in full for less than the full balance Individual (800) 772-1413 120 CORPORATE BLVD STE 1 NORFOLK VA 23502

Original Balance Current Balance Monthly Payment Loan Term Last Payment $938 $0 $0 1 months Oct 18, 2011

Loan Type Additional Remarks Unknown - Credit Extension, Review, Or Collection Original Creditor: CAPITAL ONE BANK N.A. Account legally paid in full for less than the full balance Account status last updated Nov 1, 2011

Public Records

Judgment Reported on May 6, 2010

• Date Filed: May 6, 2010
• Plaintiff: CAPITAL ONE BANK USA N A
• Amount: $1,302
• Date Last Reported: N/A
•  

 Credit Inquiries

Creditor Name Date of Inquiry Source

CAP ONE	September 22, 2013	1214383
AMEX	September 22, 2013	1234990
CHASE	September 22, 2013	1203600
SPRINGLEAF FIN SRVCS	September 22, 2013	2170060
CREDIT ONE BANK	July 1, 2013	3278143
AMEX	February 19, 2012	1234990
VERIZON WIRELESS	December 31, 2011	1942300

 THANKS IN ADVANCE! 

[Asailorshort]

Two cc's are plenty for rebuilding. Some might suggest 3, but you're fine with just credit one & cap one. At this point, you're unlikely to get a CL large enough to make any significant impact on util & would just take further dings to your score due to AAoA & inqs. Wait a year (or more) before applying for anything else.

Pay your cc's before the statement cuts. Pay one down to zero & let the other report less than 10%.

Contact the creditors from the COs that you didn't already settle with a CA with. Find out if they still own the acct & try to work out something with them. PFD is best but can be difficult with an OC. It doesn't hurt to ask though. If they're unwilling to PFD, then pay & try to GW later.

For the settled COs try GW'ing both CA & OC. Just keep sending the GWs. You can get a million 'No's' but it only takes one yes.
I'm not very familiar with judgements, but i'm sure someone here can give you advise on that.

Lastly, is all of this debt yours? What i mean is, you aren't disputing the validity of any information on your CR, are you?

[mrrichsin]

Thanks Asailorshort for replying.

Just what I was looking for. I really appreciate you offering your advice.

Yes all of the debt is mine and I am not disputing any of it. 

I wil start to call the OC's tomorrow and keep the thread updated. 

If I were to continue with paying the cards off in full and leaving one with below 10% util, is this all I should be doing over the next couple of months?

Does it affect my score if I were to use the cards and pay them off multiple times in a month? 

I do advertising with google so I was thinking to use my cards to pay for them and then continually paying off throughout the month. With $1,300 in secured credit cards, it also would help me with staying liquid for 2 weeks at a time. Is this is a win-win or a win-lose type of scenario?

Thanks again!

[guiness56]

Your utilization is one of the fastest ways to improve your score.

Letting all but one report 0 and the other at 9% or below should be done for the next year or two.  It will establish good payment history.

No.  Once it reports that is what you are scored on.  Making purchases and paying several times in a month won't affect your score.