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Movin on Up-scores drop, cc increases and the future

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Valued Member

Movin on Up-scores drop, cc increases and the future

Smiley Very HappyI have made significant strides with my credit since joining this board last year. I want to thank everyone that has advised and posted things that have helped me along this journey.
 
My situation now
 
Credit scores 
                               
​                        Eqfx  Tran Exp
2/10/2019627630627
2/20/2019591604599
 
My credit scores dropped I believe because I paid off two old accounts which I discuss below and a hard pull for Wayfair and Cap 1 Quicksilver.
       
I now have four credit cards:
1.Cap 1 Platinum secured with a $1300 credit line. I opened the card May 2018 with a 1000 credit line and received a 300 dollar increase from Capitol one late last year.
2. Discover IT secured with a $500 credit line. I opened the card Nov of 2018 with a 300 credit line. I later added 200 dollars more so my credit line now is $500
3. Open Sky with a $200 credit line. I opened the card Jan 2019 and I have no intentions of increasing the credit line. 
4. Capitol One Quicksilver One. I opened this card by seeing what cards I qualified for on Capitol Ones website and boom it approved me for a $300 dollar limit. I opened this card January of 2019.
I always let one card have a small balance to report. No more than 10% of my available credit. Strange thing is the Open Sky card still has not been reported to the credit bureaus.
 
Things dragging my credit down
 
I paid off two things-an old secured card from Wells Fargo($238) and a electric bill that popped up that I had a letter from the electric company showing it was paid off. It was a mistake on the Customer Service rep as it was not paid off but nevertheless I had the letter. I went ahead and paid the $374 and sent a letter to the Helvey and Associates saying I though this was paid off. I included the letter from the electric company and asked them if they would delete it. No response from them yet.
I only have two baddies left-one that will drop of Sept of this year($244) and another baddie that is $250 that wont drop off for several years.
 
Whats next?
I am not sure what I should do next. I have four credit cards now that I take good care of ie always pay before the statement cuts. I also have paid off two baddies which seem to have hurt my score but I also have two baddies left. 
 
1. Should I pay off the other two baddies? I am now reluctant to do that because paying off two others appeared to have hurt my credit scores
2. What can I do to improve my chances of being approved for non secured credit cards? I still want to get an Amex-any Amex-one day. That is my goal. I also understand that Discover may unsecure one day and maybe Quicksilver as well.
3. I made the mistake of applying for a Wayfair card(I got a popup on their website) but it gave me the dreaded 7-10 day notice. I still have not gotten a letter from them and I dont think I should apply for any more retail cards(though a WalMart card would be nice)
4. I want to buy a pickup truck later this year so I need to get my scores 100 points above what they are now. Is that even possible?
 
 
Thanks and I look forward to any responses.
Message 1 of 3
2 REPLIES 2
Community Leader
Mega Contributor

Re: Movin on Up-scores drop, cc increases and the future

I dont think 100 points is realistic goal in the time frame you're talking about. As long as you have one baddie left, you may not see significant score changes

 

For non secured cards, stop applying and let everything age. You only need three revolving accounts for optimal scoring.  

 

Good luck! 

EX 759 EQ 774 TU 753


Message 2 of 3
Valued Member

Re: Movin on Up-scores drop, cc increases and the future

Can you explain why after an entire year I cannot go up 100 points?

Message 3 of 3
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