cancel
Showing results for 
Search instead for 
Did you mean: 

MooseMoney's Progress Thread!

New Contributor

MooseMoney's Progress Thread!

This will be my personal progress thread. I screwed up my credit in a bad way, and have been crawling back from the abyss for a year and a half. Before that, I had a lawsuit brought on me for an old credit card in early 2015 and paid that off in November 2015. Then in 2016 some personal issues collapsed my house-of-cards, and I was almost foreclosed on. I worked with my lender's mortgage retention team to save my home, and since then everything has been on the up-and-up. In June 2017 I decided to stop being a chicken and actually see what my credit score was. It was worse than I thought! Smiley Very Happy Here's my progress so far:

 

July 2017 Start - TU FICO 8 Score: 475

  • Actions taken this month:
    • There was a change to the law (not sure if it was just my state) that liens and judgements could not be reported. Once that was gone I jumped 75 points.

July 2017 End / August 2017 Start - TU FICO 8 Score: 550 (current change +75 | overall change +75)

  • Actions taken this month:
    • Started a letter-writing campaign trying to clear up any derogatories. No success this month.

August 2017 End / September 2017 Start - TU FICO 8 Score: 550 (current change -0- | overall change +75)

  • Actions taken this month:
    • Continued letter-writing campaign. No success.

September 2017 End / October 2017 Start - TU FICO 8 Score: 550 (current change -0- | overall change +75)

  • Actions taken this month:
    • Continued letter-writing campaign. No success.

October 2017 End / November 2017 Start - TU FICO 8 Score: 550 (current change -0- | overall change +75)

  • Actions taken this month:
    • Continued the letter-writing campaign. No success.

November 2017 End / December 2017 Start - TU FICO 8 Score: 552 (current change +2 | overall change +77)

  • Actions taken this month:
    • Continued the letter-writing campaign. No success.

December 2017 End / January 2018 Start - TU FICO 8 Score: 552 (current change -0- | overall change +77)

  • Gave up on the campaigning. Clearly wasn't going to work.
  • Action Taken:
    • Opened a secured Discover IT card with a $200 deposit.

January 2018 End / February 2018 Start - TU FICO 8 Score: 562 (current change +10 | overall change +87)

  • Action Taken:
    • Used my Discover card for a couple small purchases and paid the balance in full before the statement date.

February 2018 End / March 2018 Start - TU FICO 8 Score: 582 (current change +20 | overall change +107)

  • Action Taken:
    • Added another $200 to my Discover deposit for a total available credit of $400.  
    • Used my Discover card for a couple small purchases and paid the balance in full before the statement date.

March 2018 End / April 2018 Start - TU FICO 8 Score: 585 (current change +3 | overall change +110)

  • Action Taken:
    • Used my Discover card for a couple small purchases and paid the balance (except for $20 - 5%UTI) before the statement date.
      • Wanted to see what carrying a small balance would do to next month's score.

April 2018 End / May 2018 Start - TU FICO 8 Score: 597 (current change +12 | overall change +122)

  • Action Taken:
    • Was preapproved for a Comenity card at Ulta while shopping online. Went through with it because I thought it would be a soft pull, but but it is reporting as a hard pull on one of the bureaus. 
      • Approved for $300
    • Because I got that second card I'm not sure what the effect of leaving 5% UTI on my Discover card made because I am assuming opening the new card dinged me a little bit.
    • Used my Discover card for a couple small purchases and paid the balance (except for $20 - 5%UTI) before the statement date.
    • Did a PFD with one of my collections accounts (leaving one more on my report). He said it should be gone by the end of June.
    • Wrote a GW letter to my mortgage company requesting leniency on my late reporting. 

May 2018 End / June 2018 Start - TU FICO 8 Score: 601 (current change +4 | overall change +126)

 

 

Currently:

  • The good:
    • Discover Card $400 limit / $20 balance
    • Comenity Card $300 limit / $0 balance
    • Mortgage paid on time for 18 months
    • Hard Inquiries:
      • TU: 2
      • EQ: 3
      • EX: ?
  • The Bad: 
    • AAoA: 3yr, 7mo 
      • Oldest: 10yr, 5mo (mortgage)
      • Newest: 1mo (Comenity)
    • Two Collections Accounts
      • One of them was a PFD that should be gone by the end of June
      • The other I signed up for Collection Shield 360 for help with
    • There is one old collections that I paid off a long time ago lingering on my EQ. It's not showing on my TU, and I'm not sure about EX.
    • There is an old Credit One with a zero balance showing as "charged off"
      • This is the card that I paid off in the lawsuit.
      • I sent them a GW email on Friday. They responded that day saying they will get back to me in 3-5 business days.
        • I've read a lot of success stories with Credit One as long as it has been paid, so I am feeling optimistic about this one.
    • I have one 30-day late on an old car payment that was otherwise perfect. This should age off in January 2019 so I have no plans to do anything with this one.
  • The Ugly:
    • 17 out of the last 48 mortgage payments are showing as late
      • I sent them a GW letter asking for some leniency regarding all these lates on my report, she called me twice so far:
        • Once to tell me they got the letter and will work on it
        • The second call was to tell me I passed the first "hurdle" and it was moving on to the supervisors
        • I should hear back on Thursday (fingers crossed!)
    • There is an old Applied Bank credit card still showing an outstanding balance that is marked as "charged off."
      • I've read that if you are willing to pay they will delete sometimes, so I may try that soon.

 

The plan:

  • AZEO for the two cards I have. I know you should have three cards when doing this but I am putting off getting a third card for now.
  • Increase my Secured Discover limit a little each month. My seventh statement will be in August (I believe), so maybe I will graduate to an unsecured card by then, but I've read Discover can be fickle so I'm not going to hold my breath.
  • Keep working on these derogatories, one or two at a time. I have a few balls in the air right now.
  • Garden until November 2018
    • One of my Hard Pull Inquiries will age off
    • I don't want to take another hard hit to my AAoA
    • Hopefully my score will be high enough to get another card. I want to avoid any with annual fees and any more store cards

 

 

Phew. Smiley Tongue

Gardening until November 2018 January 2019


Current FICO 8 Scores


Progress:
(TU FICO 8)
[07/01/17: 475] → [08/01/17: 550] → [09/01/17: 550] → [10/01/17: 550] → [11/01/17: 550] → [12/01/17: 552] → [01/01/18: 552] → [02/01/18: 562] → [03/01/18: 582] → [04/01/18: 585] → [05/01/18: 597] → [06/01/18: 601] → [07/01/18: 615] → [08/01/18: 626] → [09/01/18: 625] → [10/01/18: 630] → [11/01/18: 641] → [12/01/18: TBT]
My Progress Thread
2018 Year End Goal: 650 across the board

Message 1 of 27
26 REPLIES
Regular Contributor

Re: MooseMoney's Progress Thread!


@moosemoney wrote:

This will be my personal progress thread. I screwed up my credit in a bad way, and have been crawling back from the abyss for a year and a half. Before that, I had a lawsuit brought on me for an old credit card in early 2015 and paid that off in November 2015. Then in 2016 some personal issues collapsed my house-of-cards, and I was almost foreclosed on. I worked with my lender's mortgage retention team to save my home, and since then everything has been on the up-and-up. In June 2017 I decided to stop being a chicken and actually see what my credit score was. It was worse than I thought! Smiley Very Happy Here's my progress so far:

 

July 2017 Start - TU FICO 8 Score: 475

  • Actions taken this month:
    • There was a change to the law (not sure if it was just my state) that liens and judgements could not be reported. Once that was gone I jumped 75 points.

July 2017 End / August 2017 Start - TU FICO 8 Score: 550 (current change +75 | overall change +75)

  • Actions taken this month:
    • Started a letter-writing campaign trying to clear up any derogatories. No success this month.

August 2017 End / September 2017 Start - TU FICO 8 Score: 550 (current change -0- | overall change +75)

  • Actions taken this month:
    • Continued letter-writing campaign. No success.

September 2017 End / October 2017 Start - TU FICO 8 Score: 550 (current change -0- | overall change +75)

  • Actions taken this month:
    • Continued letter-writing campaign. No success.

October 2017 End / November 2017 Start - TU FICO 8 Score: 550 (current change -0- | overall change +75)

  • Actions taken this month:
    • Continued the letter-writing campaign. No success.

November 2017 End / December 2017 Start - TU FICO 8 Score: 552 (current change +2 | overall change +77)

  • Actions taken this month:
    • Continued the letter-writing campaign. No success.

December 2017 End / January 2018 Start - TU FICO 8 Score: 552 (current change -0- | overall change +77)

  • Gave up on the campaigning. Clearly wasn't going to work.
  • Action Taken:
    • Opened a secured Discover IT card with a $200 deposit.

January 2018 End / February 2018 Start - TU FICO 8 Score: 562 (current change +10 | overall change +87)

  • Action Taken:
    • Used my Discover card for a couple small purchases and paid the balance in full before the statement date.

February 2018 End / March 2018 Start - TU FICO 8 Score: 582 (current change +20 | overall change +107)

  • Action Taken:
    • Added another $200 to my Discover deposit for a total available credit of $400.  
    • Used my Discover card for a couple small purchases and paid the balance in full before the statement date.

March 2018 End / April 2018 Start - TU FICO 8 Score: 585 (current change +3 | overall change +110)

  • Action Taken:
    • Used my Discover card for a couple small purchases and paid the balance (except for $20 - 5%UTI) before the statement date.
      • Wanted to see what carrying a small balance would do to next month's score.

April 2018 End / May 2018 Start - TU FICO 8 Score: 597 (current change +12 | overall change +122)

  • Action Taken:
    • Was preapproved for a Comenity card at Ulta while shopping online. Went through with it because I thought it would be a soft pull, but but it is reporting as a hard pull on one of the bureaus. 
      • Approved for $300
    • Because I got that second card I'm not sure what the effect of leaving 5% UTI on my Discover card made because I am assuming opening the new card dinged me a little bit.
    • Used my Discover card for a couple small purchases and paid the balance (except for $20 - 5%UTI) before the statement date.
    • Did a PFD with one of my collections accounts (leaving one more on my report). He said it should be gone by the end of June.
    • Wrote a GW letter to my mortgage company requesting leniency on my late reporting. 

May 2018 End / June 2018 Start - TU FICO 8 Score: 601 (current change +4 | overall change +126)

 

 

Currently:

  • The good:
    • Discover Card $400 limit / $20 balance
    • Comenity Card $300 limit / $0 balance
    • Mortgage paid on time for 18 months
    • Hard Inquiries:
      • TU: 2
      • EQ: 3
      • EX: ?
  • The Bad: 
    • AAoA: 3yr, 7mo 
      • Oldest: 10yr, 5mo (mortgage)
      • Newest: 1mo (Comenity)
    • Two Collections Accounts
      • One of them was a PFD that should be gone by the end of June
      • The other I signed up for Collection Shield 360 for help with
    • There is one old collections that I paid off a long time ago lingering on my EQ. It's not showing on my TU, and I'm not sure about EX.
    • There is an old Credit One with a zero balance showing as "charged off"
      • This is the card that I paid off in the lawsuit.
      • I sent them a GW email on Friday. They responded that day saying they will get back to me in 3-5 business days.
        • I've read a lot of success stories with Credit One as long as it has been paid, so I am feeling optimistic about this one.
    • I have one 30-day late on an old car payment that was otherwise perfect. This should age off in January 2019 so I have no plans to do anything with this one.
  • The Ugly:
    • 17 out of the last 48 mortgage payments are showing as late
      • I sent them a GW letter asking for some leniency regarding all these lates on my report, she called me twice so far:
        • Once to tell me they got the letter and will work on it
        • The second call was to tell me I passed the first "hurdle" and it was moving on to the supervisors
        • I should hear back on Thursday (fingers crossed!)
    • There is an old Applied Bank credit card still showing an outstanding balance that is marked as "charged off."
      • I've read that if you are willing to pay they will delete sometimes, so I may try that soon.

 

The plan:

  • AZEO for the two cards I have. I know you should have three cards when doing this but I am putting off getting a third card for now.
  • Increase my Secured Discover limit a little each month. My seventh statement will be in August (I believe), so maybe I will graduate to an unsecured card by then, but I've read Discover can be fickle so I'm not going to hold my breath.
  • Keep working on these derogatories, one or two at a time. I have a few balls in the air right now.
  • Garden until November 2018
    • One of my Hard Pull Inquiries will age off
    • I don't want to take another hard hit to my AAoA
    • Hopefully my score will be high enough to get another card. I want to avoid any with annual fees and any more store cards

 

 

Phew. Smiley Tongue


You will get there and I'm definitely watching this thread!  Question how to do get that little credit score siggy thing? lol



Starting Score: on 4/16 2016
Current Score: as of 08/08/2018
Goal Score: 800
In my wallet: Discover it $5400 Cap 1 QS $750 BOA 300 Lowes 1890 PENFED promise 1000 Penfed PLOC 7500 NFCU NAV CHECK 5000
Message 2 of 27
New Contributor

Re: MooseMoney's Progress Thread!


@Kento wrote:

Question how to do get that little credit score siggy thing? lol

Smiley Wink https://ficoforums.myfico.com/t5/SmorgasBoard/Badges-for-Your-Signature/m-p/5257198

Gardening until November 2018 January 2019


Current FICO 8 Scores


Progress:
(TU FICO 8)
[07/01/17: 475] → [08/01/17: 550] → [09/01/17: 550] → [10/01/17: 550] → [11/01/17: 550] → [12/01/17: 552] → [01/01/18: 552] → [02/01/18: 562] → [03/01/18: 582] → [04/01/18: 585] → [05/01/18: 597] → [06/01/18: 601] → [07/01/18: 615] → [08/01/18: 626] → [09/01/18: 625] → [10/01/18: 630] → [11/01/18: 641] → [12/01/18: TBT]
My Progress Thread
2018 Year End Goal: 650 across the board

Message 3 of 27
New Contributor

Re: MooseMoney's Progress Thread!

Mid-month update: Credit One has agreed to delete the tradeline!! Here's what they said (edited for privacy):


Dear *******,


Thank you for bringing your concerns to our attention. We will continue to make every effort to serve
your needs in a manner more consistent with your expectations and our high standards.


Credit One Bank received your communication dated June 8, 2018.


Due to non-payment for more than 180 days, your account charged off on ****** 2014, with a
balance of $*********. The ownership of the account was transferred to the agency referenced below.
Since Credit One Bank no longer has a financial interest in this account, please contact the agency
listed below to reach a mutually acceptable resolution for all parties involved:

*****

******

*****

 

As a courtesy, our office initiated the process of removing the Credit One Bank tradeline from your
credit history; however, any derogatory reporting of this account by any other lender will need to be
addressed directly with the other lender. Please allow the consumer reporting agencies 60-90 days to
update their records. If you need to provide evidence of the requested change prior to the consumer
reporting agencies updating their records, please provide a copy of this letter.


We have provided the information to the following consumer reporting agencies:

 

Experian: 888-397-3742
TransUnion: 800-888-4213
Equifax: 800-685-1111 or 888-766-0008

 

If you have any questions or concerns regarding this matter, please contact our office at *********, Monday through Friday, between 6:30 a.m. and 3:00 p.m. (Pacific Time).


Sincerely,


Credit One Bank, N.A.

 


 

 

 

Wooooohhoooooo!!!!!! That's two derogatories down so far! (the collection and judgement have already been removed, so this was the last bit of that whole thing remaining) Smiley Very Happy 

 

Gardening until November 2018 January 2019


Current FICO 8 Scores


Progress:
(TU FICO 8)
[07/01/17: 475] → [08/01/17: 550] → [09/01/17: 550] → [10/01/17: 550] → [11/01/17: 550] → [12/01/17: 552] → [01/01/18: 552] → [02/01/18: 562] → [03/01/18: 582] → [04/01/18: 585] → [05/01/18: 597] → [06/01/18: 601] → [07/01/18: 615] → [08/01/18: 626] → [09/01/18: 625] → [10/01/18: 630] → [11/01/18: 641] → [12/01/18: TBT]
My Progress Thread
2018 Year End Goal: 650 across the board

Message 4 of 27
Regular Contributor

Re: MooseMoney's Progress Thread!

That is awesome! Congrats.

Message 5 of 27
Regular Contributor

Re: MooseMoney's Progress Thread!

Good!!!


Starting Score: on 4/16 2016
Current Score: as of 08/08/2018
Goal Score: 800
In my wallet: Discover it $5400 Cap 1 QS $750 BOA 300 Lowes 1890 PENFED promise 1000 Penfed PLOC 7500 NFCU NAV CHECK 5000
Message 6 of 27
New Contributor

Re: MooseMoney's Progress Thread!

Got a letter today from my mortgage company, denying my GW request. Smiley Sad

 

Here's what the letter said:


*Mtg Company* is required to provide accurate information to the credit bureaus to which we report (Equifax, Experian, and TransUnion). The reporting is based solely upon the dates payments are received; which is in accordance with the Fair Credit Reporting Act (FCRA). Thus, any inaccurate reporting would be a violation of the FCRA.

 

*My Name*, although we sympathize with your situation, we are required to comply with these applicable laws and regulations. Therefore, we must respectively deny the request to remove negative credit reporting as a goodwill gesture.


Bummer. My question for any credit gurus out there: I heard that if your GW is denied on these grounds, you can ask again stating that the FCRA only requires accurate reporting, and I can ask if they will just post "no information" for the late periods (I have two periods already showing "no information" from the period of my modification/retention.

 

Should I just give up? Try calling? I was on a high yesterday after getting that news from Credit One, then this brought me crashing back down to Earth.

 

Gardening until November 2018 January 2019


Current FICO 8 Scores


Progress:
(TU FICO 8)
[07/01/17: 475] → [08/01/17: 550] → [09/01/17: 550] → [10/01/17: 550] → [11/01/17: 550] → [12/01/17: 552] → [01/01/18: 552] → [02/01/18: 562] → [03/01/18: 582] → [04/01/18: 585] → [05/01/18: 597] → [06/01/18: 601] → [07/01/18: 615] → [08/01/18: 626] → [09/01/18: 625] → [10/01/18: 630] → [11/01/18: 641] → [12/01/18: TBT]
My Progress Thread
2018 Year End Goal: 650 across the board

Message 7 of 27
Regular Contributor

Re: MooseMoney's Progress Thread!

You can always keep trying. Some people have had success with goodwill letters by sending them to multiple people at the company and sending letters repeatedly (change your letter a bit, don't send them the same exact copy that you sent last time).

 

Search on these forums for advice/techniques about goodwill letters.

Message 8 of 27
New Contributor

Re: MooseMoney's Progress Thread!

I was thinking of opening a discover secure - I was approved - do you think that’s smart for me - what’s your experience - I’ve been reading it’s a good way to go
Starting score May 2018 EQ: 613 -- TU:597 -- EX:608
6/10/2018 EQ: 613 --TU: 605 -- EX: 612

6/17/2018 EQ: 621 -- TU: 605 --EX 612
Rebuilding

Fako 633 (Credit Wise) and 614EQ Credit Karma

Message 9 of 27
New Contributor

Re: MooseMoney's Progress Thread!


@GrayCredit2018 wrote:
I was thinking of opening a discover secure - I was approved - do you think that’s smart for me - what’s your experience - I’ve been reading it’s a good way to go

That's what I did. You're starting ahead of me currently, and wayyy ahead of where I was when I got my secured Discover (I was 552 at that point). I am thrilled with my experience with Discover, so my personal opinion is to go for it.

Gardening until November 2018 January 2019


Current FICO 8 Scores


Progress:
(TU FICO 8)
[07/01/17: 475] → [08/01/17: 550] → [09/01/17: 550] → [10/01/17: 550] → [11/01/17: 550] → [12/01/17: 552] → [01/01/18: 552] → [02/01/18: 562] → [03/01/18: 582] → [04/01/18: 585] → [05/01/18: 597] → [06/01/18: 601] → [07/01/18: 615] → [08/01/18: 626] → [09/01/18: 625] → [10/01/18: 630] → [11/01/18: 641] → [12/01/18: TBT]
My Progress Thread
2018 Year End Goal: 650 across the board

Message 10 of 27