I am new to Gardening ( I hope thats right )
I currently have the following cards/credit and I wanted to know what my best next steps would be .
Discover It Secured (2500)1yr 7mos | 6% Utilization
Credit One Bank (650)1 yr 5 mos | 20% Utilization
Surge Card AKA Cont Finance (625) 2yrs 11mos | 0% Utiliziation
Cap 1 (500) 8 mos | 30% Utiliziation
Gettington (1100)2yrs | 43% Utilization
Fingerhut (3000)3 yrs 1 mo | 53% Utiliziation <--- Just zeroed out but adding whats currently on CK
The next listings were only used to help increase my overall CL but if deemed neccasarry to remove I can. Yes I know they hurt my account age by accepting but didnt realize until after. AUTHORIZED USER ACCTS BELOW
Discover it AU (200)3 mos | 7% Utilization
Navy Federal FCU AU (2100) 3mos | 92% Utilization <---- Being 0'd this month
My current 3B scores are"
Equifax | 748
Transunion | 646
Experian | 636
I had 2 First Premier Bankcards both aged at about 2 years. They screwed up my bank account payments and had me PO'd . Instead of thinking about the age I instantly 0'd and closed both because of their foolishness.
2200 Collection from a trashy apartment I lived in KC for about 6mos before moving back to east coast. The collection is 3 years old . Should I pay ?
1 Negative showing on experian from an another company that had me PO'd about trying to charge a debit card that had been lost but never called me on failed payments and wanted me to pay for them trying debit card transactions . Yes I know I should control my temper . This shows as charged off but yet to see any collection agency come after me . Im open to all suggestions .
Another terrible part of my story is I have 26 inquiries . Most from shotgunning at car lots when I initially looked for a vehicle and backed out but 6mos later I found what I wanted. According to my profile , In Dec would be a year without inquires on my report period but Dec of 2019 I should show none except a recent NFCU in 3/18 that I was feeling lucky about .
@I also have a vehicle loan through carmax for 27K @ 15% , This loan is at 6mos and I plan to refinance @ 1 year. Any thoughts?
I also have a business that I plan to PG in the future after my recovery/building process. I have a friend who helped me with all of this and recommending I wait to Dec 18 or Jan 19 before applying for my next tier of cards. The plans are for him to add me to his Amex as an AU that has a 17k limit and we read I should pick up his history as well? He is debating on adding me to his cap1 as well which has a 8k limit . The plan is that my overall CL will be boosted and once I start to apply I should get higer limits. I apologize in advance if this is jumbled but I appreciate all input .
About the above 748 Equifax. Out of nowhere I logged into the app and it reported a new address change and increase on one of my cards and sent my score to 748 only with Equifax . I will not know if this is true until my free 3B report but I did not want to pay mid month because of one score jumping . I think its a glitch but open to suggestions .
If it wasn't for your utilization id be chopping subprime accounts left and right....
they still report for up to 10 years...
Since you said you zeroed out all the cards except Discover... might consider the following...
Credit One: Is there an AF on this Credit One or monthly fee on this, or lack of grace period? if yes... Pay it off and Close it
Surge/Continental Finance: If paid off, Close it
Gettington: If paid off, close it
Fingerhut: Can keep this around if you want, but zero it out....otherwise... Close it..
Trashy Apt... See if you can get a PFD, pay it off... Could try fighting them on it esp if they played games with sec deposit but if you can, just pay it off but see if you can get a PFD for it... This should help your score... wont help with the shotgun HPs but....
There are folks who say oh it doesn't matter where your credit comes from... but i tend to think on MANUAL review the UWs know full well who these subprime banks and financial institutions are and it hurts you... Also your scores are at a point you you should be alright esp since you have a Discover (albeit secured at this point), and a Cap One, and got approval for an amex charger.... Feel if you get rid or even pay off without the deletion (Fico 8 were talking...) you might be able to get a SP Amex revolver in a few months....
And back to discover secured.... are you signed up for credit scorecard. (discovers other free Fico score... different bureau than the account).... If not.. sign up.... after the dust settles from this stuff.. it might be worth applying for a second discover.... might have to remove yourself as an AU however... think you only can have 2 discovers but it might be worth the 1 hp ... possibly 0. but since its your second disco... likey an HP... to get a card based on your updated scores after you do some pruning and recieve the cards you apped for. Thought process is take any tiny dips (which shouldnt be much since youve azeo'ed) and if you get that collection removed.. it will more than make up for it...
Since you got the NFCU Amex: Even more reason to prune subprime fodder... if i read you correctly that should compensate for most if not all of your UTIL problem... Id be taken off the discover AU as well..
Remember every time you close a Credit One, Continental (eugh), Gettington, or other subprime predatory lender, a credit angel gets their wings.... =)
Love to have someone else add their thoughts to this but thats what id do.. Rip out the weeds now... in preperation for the biz stuff down the road, garden and work on the baddie...
I actually reached out to the collector today and they stated they would delete my 3 year old debt . I asked for a letter and he claimed that the calls are recorded and he has no reason to lie . I wanted to pay it no matter what but I really hope they hold up their end of the deal but it would be a good look on my profile .
Still awaiting my recon from Amex
Very helpful rep from Wells Fargo stated I could recon for up to 60 days after the app . Report state High Uti , I explained that was not the case . Will attempt second recon when I have confirmed my report is showing correct UTI across the board.
BBT Spectrum (Awaiting Results) Pulled experian but no decision yet , two reps have stated they can not find record of my application . I will just wait on the mail but so far their CSR sucks and wait times 40 mins on both calls . WOW
Which collector? Presume you mean the crappy apartment or such....
Had to reread the thread...
So big updates guys!
I am now sitting at 697 (Equifax) , 743 (Transunion) , 726(Experian)
I have come a very long way but after reading and holding no balances, My discover unsecured from 1000$ - 2500$. The subprimes are still open but will be closed in December. (Credit One, Continental Finance,Gettington) My fingerhut is 3500$ and has been zero'd out for a while.
High spends with my Amex for my business, Hoping to go business revolver next year.
Something happened with the law and I no longer have an eviction on my public records and the company held up their end of the deal. I paid in full and literally the next day it was gone. (This was a significant jump in my credit)
I spent a HP on my NFCU to get a CLI from 5k to 12k
Discover CLI (noted above)
Credit Once NO HP CLI (now 900$) <-- Im guessing they noticed Navy's New account when I first got the card for 5k
Continental finance NO HP CLI (now 825$)
New Citi Best Buy card since last post (2000$)
My goals are to get my Cap1's increased and gardening until 12/20 to app for Chase for the business and personal.
I am currently awaiting the results of my first business card and cloc with NFCU and which I do believe I will get.
@joltdude, I promise those wings will be given back in the Winter. LOL
Thanks to everyone and their post and to the forums. The journey is still going and I am on the road to the 800 club!
Congratulations on your success!