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I've Finally Crossed Over Into the 600s

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numba1fan
Regular Contributor

Re: I've Finally Crossed Over Into the 600s

That is AWESOME! Keep up the good work! I too am working on mine, and it felt amazing to hit the 600’s. Now I’m aiming for the 700s. We’ve got this!!








Message 11 of 22
Jannelo
Frequent Contributor

Re: I've Finally Crossed Over Into the 600s

I have an Experian account.  And I just saw that it updated again, and my FICO score has jumped another seven points from last week.  I have no idea why.  But I'm now up from 606 to a whopping 613!   I was not expecting that. 

 

Edit:  Oh, I see why.    I have three credit cards and an installment loan.  And my goal was no more new accounts, garden, and in five to six months try to get an approval from a prime card.  My goal is Discover.  I'm been approved for the secured, but every free penny needs to go towards the old charged-off debt.  So I'm waiting to qualify for Discover unsecured.  But when I received the Merrick Double Your Visa offer in the mail Thursday ($700 CL, 700 CLI in seven months, no upfront fees or AF),  I caved in the moment.  And I was really angry with myself afterwards, because it felt manic that I did that, and not in my plan, and not what has been advised on here and using up a HP.  Too many new accounts, and another subprime one at that.  Although, I see it does give auto CLIs every few months after the first big CLI of $700.

 

I haven't received the card yet, haven't activated it, and yet they are reporting it already.  It just showed up on Experian.  They said it would be up to two weeks before I got it.  I had no idea you could report a new card before the customer actually received it and activated it.   But  I'm not complaining  that it reported so quickly, and that's why the jump in score, at least on Experian.  The HP was from TU.

 

Oh, well.  Now, in four months or so, I can get rid of the Green Dot $450 secured and apply that money to my charged-off debt to Cap One.  The day that is paid off will by a happy dance.    I know it factors into overall utilization, from what I've read.

Open Credit Cards:
Green Dot Primor Secured (5/18) - $450 CL (CLOSED 2/2020)
Capital One Platinum (8/18) PC to Quicksilver (9/19) - $3800 CL
Capital One QuicksilverOne (3/19) - $4800 CL
Merrick Bank DYL VISA - No AF (6/19) - $1400 CL
Discover it Cash Back (9/19) - $2800 CL
Amazon Prime Store Card (4/20) - $10,000 CL
NFCU cashRewards (4/20) - $4500 CL
BB&T Spectrum Cash Rewards (5/20) - $3500 CL
Navy Federal More Rewards American Express® Card (3/21) - $9700 SL - at 9.65 %.
Experian FICO Score - 8/2018: 528

Experian FICO 8 Score - 9/2022 - 720
Equifax FICO 8 score 2/2022- 692
TransUnion FICO 8 score 10/2022 - 728
Experian FICO Mortgage Score - 725
Message 12 of 22
Jannelo
Frequent Contributor

Re: I've Finally Crossed Over Into the 600s


@numba1fan wrote:
That is AWESOME! Keep up the good work! I too am working on mine, and it felt amazing to hit the 600’s. Now I’m aiming for the 700s. We’ve got this!!

You're making great progress with your scores, too!  

Open Credit Cards:
Green Dot Primor Secured (5/18) - $450 CL (CLOSED 2/2020)
Capital One Platinum (8/18) PC to Quicksilver (9/19) - $3800 CL
Capital One QuicksilverOne (3/19) - $4800 CL
Merrick Bank DYL VISA - No AF (6/19) - $1400 CL
Discover it Cash Back (9/19) - $2800 CL
Amazon Prime Store Card (4/20) - $10,000 CL
NFCU cashRewards (4/20) - $4500 CL
BB&T Spectrum Cash Rewards (5/20) - $3500 CL
Navy Federal More Rewards American Express® Card (3/21) - $9700 SL - at 9.65 %.
Experian FICO Score - 8/2018: 528

Experian FICO 8 Score - 9/2022 - 720
Equifax FICO 8 score 2/2022- 692
TransUnion FICO 8 score 10/2022 - 728
Experian FICO Mortgage Score - 725
Message 13 of 22
Anonymous
Not applicable

Re: I've Finally Crossed Over Into the 600s


@Jannelo wrote:

What a long slog it's been.  From the low 500s last year, I have climbed the mountain, albeit slowly, but finally crossed over.  Hallelujah!   As of the beginning of May, my TU and Experian scores were 594.  Equifax was 588.    My car loan reported this  month.  So I now have three credit cards and an installment loan reporting as far as active accounts.    I received a  nice increase in my FICO 8 scores.  I thought the car loan reporting might take it down at first.  I guess not.  Experian  jumped 12 points to 606.  TU jumped 15 points to 609.  Equifax jumped 8 points to 596.  I'm barely on the other side of 600 for TU and Exp, but, hey, at least I'm there.  Last summer when I was in the 520s,  it never felt like I was going to get here.  I certainly didn't think I was going to have a car loan with a decent interest rate with my low scores of 594 in May. But I do.  Thanks Cap One.

 

To others, that still looks like horrible credit.  To me, it's finally getting somewhere in this long rebuilding process.  After the June payment on my charged off Cap One card, I am now down to 1,766, finally past the halfway mark of the original $3,966 balance owed.    I'm getting closer to one day being able to app for a  non-subprime credit card.  


Congrats! I'm in the process of beginning to pay off the Cap One chargeoff that I have which will put me back to 640 again (According to the simulator at least), and have been as low as 496 as one point early last year. Good luck and the marathon continues! 

Message 14 of 22
Jannelo
Frequent Contributor

Re: I've Finally Crossed Over Into the 600s

I am in complete shock.  It had jumped up from 606 to 613 on Experian a few days ago.  It has now jumped up another 12 points to 625.  I guess that Merrick card was a great idea after all.  Nothing has changed since the 606 reported except the Merrick card with a $700 CL showing up, and actully a HP from my bank.   My AAoA dropped by four years from Merrick hitting my account.  My credit utilization improved.

 

At least with Experian, I am officially at the halfway mark to hitting 669 and moving into the "good" credit rating category, out of the "fair" credit rating category.  I was so thankful when I got out of the "poor" rating category.  So I was never going to complain about being in the "fair" category.  But I can't wait to hit 689 and move into the "good" credit rating.

 

I've never worked on any goodwill letters or calls about old lates on paid charge-offs or the paid collection showing across all three CAs.   Reading others working so diligently on that and succeeding has inspired me to at least try.

Open Credit Cards:
Green Dot Primor Secured (5/18) - $450 CL (CLOSED 2/2020)
Capital One Platinum (8/18) PC to Quicksilver (9/19) - $3800 CL
Capital One QuicksilverOne (3/19) - $4800 CL
Merrick Bank DYL VISA - No AF (6/19) - $1400 CL
Discover it Cash Back (9/19) - $2800 CL
Amazon Prime Store Card (4/20) - $10,000 CL
NFCU cashRewards (4/20) - $4500 CL
BB&T Spectrum Cash Rewards (5/20) - $3500 CL
Navy Federal More Rewards American Express® Card (3/21) - $9700 SL - at 9.65 %.
Experian FICO Score - 8/2018: 528

Experian FICO 8 Score - 9/2022 - 720
Equifax FICO 8 score 2/2022- 692
TransUnion FICO 8 score 10/2022 - 728
Experian FICO Mortgage Score - 725
Message 15 of 22
numba1fan
Regular Contributor

Re: I've Finally Crossed Over Into the 600s

I haven't tried the goodwill letters yet either, but I do think that I will give it a try and at least see what happens. I cannot wait until I am in the "good" category. We will get there soon!! 









Message 16 of 22
Jannelo
Frequent Contributor

Re: I've Finally Crossed Over Into the 600s

UPDATE:  Things are moving upward since my first post on this thread, just crossing over into the 600s.

 

Latest updates since my l last update on June 10:    

 

Four hundred dollars of payments towards my Cap One charge-off finally hit  my credit reports.  Well, Experian and Equifax.  It is still not showing up on TransUnion. It brought me from 54 percent utilization on the charge-off to 44 percent.   I'm at 1 percent utilization of my open CC accounts.  The previous month it was 2 percent utilization.

 

My score has increased.

I pulled all three FICO reports off of Experian on June 29.  I saw an increase in Experian and Equifax.

 

Experian 626    Equifax 617     TransUnion  611  (Unchanged from previous report.)

 

A week later my Experian score is now 9 points higher at 635.   I pulled my TransUnion on MyFico.  $400 payment still not being reflected, but it shows my TransUnion up, now  622.   

 

I wanted a benchmark for my scores as I am heading into, after another month of payments, my Cap One Platinum hitting a year mark in August and, hopefully, a CLI.    Also in August the HPs for that card, from what I've read, won't be counted in my FICO score.   So I hope to see another rise in my FICO scores.  And, of course, I'm reducing the charged-off loan by $200 every month.   

 

Is my assumption right, that hitting a year old for the Cap One Platinum will give me a FICO score increase of at least a few points?

 

I've become obsessed with tracking my FICO score progress.  My goal is to finally hit the "good" category.  But for now, my "new" immediate goal is to get to 650, at the minimum, on all three reports.

Open Credit Cards:
Green Dot Primor Secured (5/18) - $450 CL (CLOSED 2/2020)
Capital One Platinum (8/18) PC to Quicksilver (9/19) - $3800 CL
Capital One QuicksilverOne (3/19) - $4800 CL
Merrick Bank DYL VISA - No AF (6/19) - $1400 CL
Discover it Cash Back (9/19) - $2800 CL
Amazon Prime Store Card (4/20) - $10,000 CL
NFCU cashRewards (4/20) - $4500 CL
BB&T Spectrum Cash Rewards (5/20) - $3500 CL
Navy Federal More Rewards American Express® Card (3/21) - $9700 SL - at 9.65 %.
Experian FICO Score - 8/2018: 528

Experian FICO 8 Score - 9/2022 - 720
Equifax FICO 8 score 2/2022- 692
TransUnion FICO 8 score 10/2022 - 728
Experian FICO Mortgage Score - 725
Message 17 of 22
tedb
New Contributor

Re: I've Finally Crossed Over Into the 600s

Keep plugging away at it, you're doing great!

Message 18 of 22
Jannelo
Frequent Contributor

Re: I've Finally Crossed Over Into the 600s


@tedb wrote:

Keep plugging away at it, you're doing great!


Thanks. That's what it feels like, "plugging away."     MyFICO veteran forum members are right.  This is definitely not a sprint.  LOL

Open Credit Cards:
Green Dot Primor Secured (5/18) - $450 CL (CLOSED 2/2020)
Capital One Platinum (8/18) PC to Quicksilver (9/19) - $3800 CL
Capital One QuicksilverOne (3/19) - $4800 CL
Merrick Bank DYL VISA - No AF (6/19) - $1400 CL
Discover it Cash Back (9/19) - $2800 CL
Amazon Prime Store Card (4/20) - $10,000 CL
NFCU cashRewards (4/20) - $4500 CL
BB&T Spectrum Cash Rewards (5/20) - $3500 CL
Navy Federal More Rewards American Express® Card (3/21) - $9700 SL - at 9.65 %.
Experian FICO Score - 8/2018: 528

Experian FICO 8 Score - 9/2022 - 720
Equifax FICO 8 score 2/2022- 692
TransUnion FICO 8 score 10/2022 - 728
Experian FICO Mortgage Score - 725
Message 19 of 22
calyx
Super Contributor

Re: I've Finally Crossed Over Into the 600s

Congrats on your continued progress!

I was at about your point last year, so I remember the joy at seeing those increases.   I know your score isn't great, but it's so much better than what it was, and I'm sure you'll only continue to improve.   You are doing great Smiley Happy

You will probably get a bump from your INQs hitting a year, since they will become unscorable, but the Cap1 being a year won't do much because it's not your youngest (I believe that's the Merrick, right?), nor oldest account.   Age of Youngest account, Age of Oldest account, and Average Age of Accounts are the numbers that are the ones that seem to matter.

Happy practitioner of AZE7or8or9or10 | Team Finances > FICO
Message 20 of 22
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