Thank you for sharing your journey!
@silenttiger wrote:Hello and Thank all you great FICO Forum contributors. I have been reading these post since the day I joined in early September. It's amazing how much knowledge I have gained from you all. Back in August, I decided to pull my reports and start learning from others peoples strategies and experience. I saw my scores rise from the 580's across the three bureaus in early August to finally the first time in years that I made it across the 700 pt mile marker on FICO. I never thought it could be done. But I had to take and accept the responsibilty to make each day better. I was reading about all the Ficonians who surf for credit and who spend time in the garden...
I really didn't understand the impotance or how high credit and utilization impacted so heavily and how carryinh high debt kept you in a quicksand of high interest payments and low credit scores... But I have up late at night reading all the post. I decided to join some of the credit unions that were mentioned in the forum and press the buttons and I was actually delighted when they gave me chances and pretty good SL.
I used to think maybe it was not good to close any credit card at all once you had it. Well I had a verve card for three years and paid it on time always reported ontime payments to the BIG 3 Bureaus. The limit was 500. Back in the beginning of August i called the CSR and asked if they would consider doubling my CL to 1000.00 since i have paid ontime for three years with never being offered and increase.
She told me the most they could do was CLI of 300 and I would get a letter in a few days. So I have paid it down to Zero actually over paid with 54 cents credit on my account. I called today and spoke to another CSR and verified that I was all current. he said yes. I told him about the call I made in beggining of August of 2018. He told me the only thing they do as far as CLI is 125, 250, and 300 max for CLI. I asked would they be willing to stop charging the annual fee and the $10.00 a month maintence fee to keep me as a customer. He said no.
I said well sir it has been a pleasure and I thank you all for giving me the 500 card to use for the past three years, but i have been fortunate enough to get my score back up to be offered credit cards with no annual fee for 8,500 from my credit union and it doesn't make wise sense to continue to pay VERVE and Annual fee and $10.00 a month maintance fee for a 500.00 card that I will be paying almost 225.00 year whether I use it or not. I said it been nice but lets close it now. He said he understood and that it was now closed with a .54 credit. I asked do i get the .54 credit sent in a check to me He laughed and said no you won't be getting that back. The reason I closed it was because it was fiscally responsible for me to end that relationship and I had read that it should be ok to close a small sub lending CC if you have some new high limit cards from your credit union with no annual fee. At the end of the call I said this really felt good. This is my first post but I wanted to share in case there is another new person studying these post that might be dealing with VERVE or some other sub card. It was good to help me rebuild but some point you gotta let go of the small stuff that you got to pay to play with. Thanks again. I will post other experiences just wanted to give back to the forums that gave me so much knowledge.......... Also can someone tell me how yall are posting the pictures of the cards and scores in your threads I think its neat but I dont know how to do it?---Silent
Awesome post! Good job breaking up with Verve and continue to do the work. myFico is an awesome financial tool.
Score: F8 EQ 609, EX 597, TU 614 (1/17) Current Score: F8 EQ 701, EX 714, TU 689 (12/18)
Congrats on your journey so far!
