cancel
Showing results for 
Search instead for 
Did you mean: 

I'm hoping to rebuild my credit (My progress thread)

Your FICO® Scores can impact your loan interest rates, terms, approvals and more.
Frequent Contributor

Re: I'm hoping to rebuild my credit


@kev2018 wrote:

I got a question.

 

If TU and EX are reporting my Comenity/Eddie Bauer credit limit inaccurately, and I have proof that the credit limit is off by about 50%, according to multiple statements that I managed to retrieve through my email due to having paperless statements that show otherwise , is that grounds to dispute the account? This has always been reported wrongfully like this but I never paid any mind to it, but while reading this forum I have been learning to watch out for inaccuracies in my reports.

 

TU and EX are showing $350 credit limit, with a balance of $580 at the time of CO. My e-statements show that my CL is $650.

 

The account is currently gone from EQ btw, after disputing it, but idk if it will come back.

 

Any help would be appreciated.


Comenity tends to balance chase so they probably brought down your limit before the charge off. They did it to me with my overstock car causing it to look like I went over the limit.






Starting Score: 494 503 521
Current Score: 503 507 507 2/19
Goal Score: 680


Take the myFICO Fitness Challenge




Message 41 of 53
Contributor

Re: I'm hoping to rebuild my credit

A little update.

 

So on top of Midland Funding telling me they will remove my paid collection off my report after May 1st, when I called them to ask them for a goodwill removal, and will take 45-60 days to reflect on my reports. I now received more good news in the same month, this time from Credit One after I sent them a goodwill email, they will be removing my closed (paid) derog account that has a 120 days delinquent and wasn't due to drop off until 2023. They attached a letter to the email saying they will remove the tradeline from all 3 bureaus and it will take 60-90 days to take effect (better than waiting until 2023).

 

In the last 1.5 months i've removed:

SyncB/Amazon - not more than 90 days late derog account (Deleted)

Cap1 - charge off (Deleted)

Credit One - 120 days delinquent (pending)

Midland Funding - collection (pending)

 

 

I'm not sure how many points my scores will go up after these two drop off, since I still have 3 paid charged off accounts + 1 more 120 days late derog on my report, but removing any derog's is a step in the right direction.

Message 42 of 53
Frequent Contributor

Re: I'm hoping to rebuild my credit

When was capital one suppose to drop off?





Starting Score: 494 503 521
Current Score: 503 507 507 2/19
Goal Score: 680


Take the myFICO Fitness Challenge




Message 43 of 53
Contributor

Re: I'm hoping to rebuild my credit

2024.

 

I had 2 Cap1 charge offs, both paid, both dropping in 2024. Now I have one to go.

 

All of my negatives are supposed to drop off between 2023-2024.

Message 44 of 53
Contributor

Re: I'm hoping to rebuild my credit

Things are starting to heat up.

Transunion just updated with a removal of a paid midland funding collection account that was due to drop in 2024. With MCM’s new policy they now drop off after 2 years if they are paid. My TU score went up today, now at 688.

Can’t wait til EQ and EX updates it as well.
Message 45 of 53
Contributor

Re: I'm hoping to rebuild my credit

I love this thread! You are doing great! I have two pending deletion midlands and I can’t wait for them to finally drop off! I’m glad you had good luck with Credit One. I need to send them my goodwill letter this week. Keep up the good work!
FICO Scores
5/20/2019: EQ - 568 TU - 591 EX: 589
Message 46 of 53
Community Leader
Super Contributor

Re: I'm hoping to rebuild my credit


@kev2018 wrote:

Hello. This is my first post, i'm a new member. It took 4 beers for me to make this post, because I didn't know how to start it. But the beers told me to just start it. So here it is.

 

I've read myFico forums for a long time (3-4 years, occasionally), but never joined until now, i'm in late 20s, live by myself, i'm a civil servant. I now have the $39.99/month subscription to track my credit monthly, because i'm so serious about this fixing my credit stuff, and I couldn't afford this until now.

 

I want to use this thread to document my rise to good credit (hopefully). It is currently 557 (EQ), 572 (TU), and 575 (EX) according to myFICO. It is 580 (EX), and 582 (TU) according to CK.

 

I have had charge offs in the past, all PIF except one with Capital One with a current balance of $999.90. I also have student loans from Sallie Mae/Navient all in good standing, and another Discover IT Student card with an $87 dollar balance, closed (no available credit line) but its stauts is "pays as agreed". I paid that down from $900 something every month starting from September (when I got my civil service job). 

 

I have called Cap1 at least 3 times asking for a PFD, I was rejected every time, including the first time, the month right after it was CO'ed (CO'ed August 2017). "We must report accurately" is what I got. I even wrote a letter pouring my heart out, explaining my situation, what got me to the charge off, what happened, what I did to change my financial situation..the letter went unanswered. Not their fault, it's all on me. I'm not owed a PFD, but i'm still salty I didn't get it though. I will finally pay the $999.90 to Cap1 in the coming months. That's where i'm not sure though, to pay it all in one shot, or to pay some of it monthly? The faster I pay the balance, the faster I can start rebuilding? Or slower monthly payments is better? 

 

I hope I can raise my score. I somewhat know what to do, thanks to reading myFICO forums for the past couple of years. But if anyone here has anything they want to say, go ahead. I will use this thread and keep everyone updated in case there's someone in similar position as me. I enjoyed reading success threads here, they are motivational, and I want to hopefully pass the motivation along by allowing everyone to watch me come up from the 500s score.

 


LOL!! That was super funny...dont ever be ashamed or embarrassed to post! But I get it! I lurked for a whole year incognito before I joined in 2013! I was too embarrassed to post, but did it, and never looked back! July will be 6 years that Ive been on these forums, regularly...if not dailySmiley Happy We all have been there, and my scores post BK were low 400's!! Trust me...you can rebuild with all the wealth of knowledge from our membersSmiley Happy and it look like you're doing a fine job after reading your thread  so farSmiley Happy


Scores held down by umpteen INQ & New accounts, and a paid off loan and new loan reporting.
~~~BK7 d/c-08/2013......my rebuild worked for me, but won't necessarily work for you.~~~
Message 47 of 53
Contributor

Re: I'm hoping to rebuild my credit

Thank you, I appreciate that. I want this thread to be looked at by people in my situation and motivate them just like other people’s threads here motivated me. But i’m not done yet, still got some work to do.

Experian just updated the midland removal and omg...lol 689 credit score. That is now 2 down, 1 to go (EQ).

So 688 (TU), 689 (EX). Currently EQ is 666, so i’m sure it’ll be my best score once that midland removal kicks in. The removal of midland collections gave me 40+ boost on each EX and TU. I’m so close to 700, can’t believe it lol. First time ever. My goal of 700 by the end of the year will come true very soon, fingers crossed.
Message 48 of 53
Highlighted
Contributor

Re: I'm hoping to rebuild my credit

My equifax score dropped from 666 to 660 today when my new fico report came in, probably due to recent high-ish utilization. And apparently my EQ score was not affected by the midland fund collection removal, oh well. Still happy with my progress so far. 660 (EQ), 688 (TU), 689 (EX). What’s weird is that EQ has 1 negative item reporting (Discover 120 day late closed account), while TU and EX have 3 each (PIF first premier co, PIF cap1 co, and PIF comenity bank co).
Message 49 of 53
Contributor

Re: I'm hoping to rebuild my credit

Yeah, EQ is much lower for me too. It seems like there isn’t a rhyme or reason to how they score. Too bad we can’t vote them out! Congrats on the big jump for the midland delete!
FICO Scores
5/20/2019: EQ - 568 TU - 591 EX: 589
Message 50 of 53