@Anonymous wrote:Well, I have lurked so now lets post and get this rolling. Like all I am here to learn, properly rebuild and most certainly not repeat the past.
So, scores as of 10/16: EQ 645, TU 630, EX 583 (working on 2 incorrect baddies).
I had a car loan (less than 2 years old) and always paid early and more than the payment. In September my CR's showed a balance of $21,000 and I have since paid that off this month. So when they update at the end of this month and show a zero balance.
Home ownership. I took advantage of an opportunity this month and paid cash for my home. Is there a positive way to reflect this on my CR's by chance?
I have a few collections and working on PFD's if possible. Even if unsuccessful on getting the PFD I will still pay them in full. Will I get any score boost on that?
My credit cards:
Wells Fargo Secured Visa - $3,500 8/2013
Capital One Plat MC - $300 9/2014
US Bank Secured Visa - $5,000 9/2014
My practice with the cards has always been PIF every other week. Just constantly PIF and keep using them.
I am content gardening right now. Sure, I would like a nicer card but I'm not even close to wanting to go on an app spree or anything close to that.
So, what is a good next step for me here?
Welcome to the forums!
About the house, I don't know for sure but if the house wasn't paid for with credit (mortage, etc) I don't think that you can get that on your credit report.
In regards to your PFD and PIF questions, paying for your collections without a PFD will not provide you with a score boost. In FICO's abosolute newest scoring model, paid collections won't be scored, but it's use is way down the road. For now, the best way would be to get a PFD, which completely removes the negative from your record. If those three are your only negatives, then getting them removed would provide a sizeable boost. Having said that, if you are put through a manual review, either for a CC or mortgage in the future, paid always looks better than unpaid.
Congrats on your progress thus far!
