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Need a Plan .... Ready to start rebuilding!

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Senior Contributor

Re: Need a Plan .... Ready to start rebuilding!

What are the DOFD on the collection accounts?

American Express: Platinum Charge, Optima, Business Gold
Barclays: Arrival+ WEMC
Capital One: Savor WMC, Venture VS
Chase: Freedom U VS, CSR VI
Citibank: AAdvantage Platinum WEMC
Elan/US Bank: Fidelity VS
Credit Union: Rewards Visa
FICO 08: (1.1.20) EX: 827 / EQ: 838 / TU: 833
Message 11 of 19
Established Contributor

Re: Need a Plan .... Ready to start rebuilding!



**Update** I applied for the NFCU secured card in a branch on 1/10/19. I funded with $500 and paid for expedited shipping ($12). Received the card 1/11/19 by FedEX. Full process literally took less than 24 hours from application to card in hand.


It won't be long before you can be approved for an unsecured NFCU card.  They will pull TU and after a few months of use (pay in full) on the nRewards, your internal NFCU score will get you an approval for a GoRewards, Platinum etc.  They use a TU pull for new cards but their internal score may matter more.  Their internal score incorporates your NFCU history and offsets low credit scores, CA's, CO's etc.




Rebuilding from a sudden, swift and complete credit disaster in early 2014 | Starting Scores 2017 = Very Low 400's
8-1-18 -
12-24-18 -
12-1-19 -

Biz Credit in Order of Approval - Uline, Quill, Grainger, SupplyWorks, MSC, Amsterdam, FuelMan .8K, Citi Tractor Supply Rev .8k, Builder Pro 5.4K, Amazon Net 55 $5.5k, NewEgg Net 30 10k, Richelieu 2k, Wurth Supply 2k, Global Ind 2k, Sam's Club Store 11.k, Shell Fleet 19.5k, Citi Exxon 2.5k, Dell Biz Revolving $15k - All No PG | AMEX Biz Gold NPSL
Message 12 of 19
Established Member

Re: Need a Plan .... Ready to start rebuilding!

2016 for all CO and collections. When my life pretty much plummeted.
Current FICO 8 (Jan ‘19): EX: 566 TU: 540 EQ: 517
Goal (Dec ‘19): EX: 670 TU: 680 EQ: 690
Secured: Capital One; Discover; NFCU
Message 13 of 19
Established Member

Re: Need a Plan .... Ready to start rebuilding!

Thank you so much. How do I find out my internal score with Navy?
Current FICO 8 (Jan ‘19): EX: 566 TU: 540 EQ: 517
Goal (Dec ‘19): EX: 670 TU: 680 EQ: 690
Secured: Capital One; Discover; NFCU
Message 14 of 19
Established Contributor

Re: Need a Plan .... Ready to start rebuilding!


@Sunshine93 wrote:
Thank you so much. How do I find out my internal score with Navy?

You may get a letter about your secured approval.  But that number won't matter much.  After say three months of paying in full on your nRewards though, your internal score will support an unsecured card.  You will then certainly get a letter stating your internal score.  I was approved for an $8k flagship with a 586 TU and 291 Internal NFCU score.    My Wife was just approved for a $15K AMEX with a 580 TU and a 313 Internal score.    NFCU utilization matters and then starting limits are determined by DTI (debt to income) and Income it seems.  The NFCU internal score is secret and there is now way to know it ahead of time as far as I know.  What matters is knowing it exists and do things that will boost it like paying your nRewards on time and in full.  The NFCU internal score is a huge deal especially for rebuilders like us.

 

Just keep paying on time.   My overall point is that, at this point, your next CC can likely be an unsecured NFCU card.  No need to bottom fish because if you play your cards right, NFCU will reward you.  Then protect that relationship as there is nothing like NFCU.




Rebuilding from a sudden, swift and complete credit disaster in early 2014 | Starting Scores 2017 = Very Low 400's
8-1-18 -
12-24-18 -
12-1-19 -

Biz Credit in Order of Approval - Uline, Quill, Grainger, SupplyWorks, MSC, Amsterdam, FuelMan .8K, Citi Tractor Supply Rev .8k, Builder Pro 5.4K, Amazon Net 55 $5.5k, NewEgg Net 30 10k, Richelieu 2k, Wurth Supply 2k, Global Ind 2k, Sam's Club Store 11.k, Shell Fleet 19.5k, Citi Exxon 2.5k, Dell Biz Revolving $15k - All No PG | AMEX Biz Gold NPSL
Message 15 of 19
Established Contributor

Re: Need a Plan .... Ready to start rebuilding!


@Sunshine93 wrote:

Collections on 3 CRs:
PRA (Cap 1)- $942 ; Date Updated: 12-27-18


Portfolio Recovery has a somewhat new policy. if a consumer pays a debt in full or settles on a delinquent debt, Portfolio Recovery will remove the delinquent account from the three major credit bureaus within 30 days of receipt of payment. www.portfoliorecovery.com

 

Deletions for reported PRA accounts apply to both accounts paid in full or settled in full. So if a consumer can't pay the full amount, they can call in and request to settle for a lesser amount. Good luck!


Life was a lot simpler when what we honored was father and mother, rather than all major credit cards. ~Robert Orben

SCORES: Excellent · 830 to 848
INQUIRIES: 0
UNIVERSAL REVOLVERS: $200K Club
NUMBER OF CC ACCOUNTS: Less than 10
CARD USAGE: Minimal
CREDIT HISTORY: Very Lengthy · Seasoned Accounts
INCOME: Sufficient
UTIL: 1-2%
PYMTS: 100% Positive · Always PIF · AZEO
INSTALLMENTS: No thanks!
ASSETS: 100% Equity
TOTALLY REFUSE TO: Pay Interest or Annual Fees, Combine Accounts, Reduce Limits, Submit 4506-T, SCT, App Spree, Accumulate Inquiries, Do business with Comenity, Synchrony, Cap One, Wells Fargo, Citi, Barclays or any other credit-cancerous lending institutions
Message 16 of 19
Senior Contributor

Re: Need a Plan .... Ready to start rebuilding!

Couple of recommendations regarding your credit repair journey:

  1. I would hold on to your USAA Secured Card even though it doesnt graduate. Your building history with this card.
  2. Now that you have had success in getting new accounts, I would focus 100% on your collections and charge offs.
  3. PRA should be on the top of your list because if you pay them or settle, they will remove the collection off the account.
  4. What is the utility charge off and who is the collection agency.
  5. Is BBT the bank?
  6. Was the tuition a student loan?

 

American Express: Platinum Charge, Optima, Business Gold
Barclays: Arrival+ WEMC
Capital One: Savor WMC, Venture VS
Chase: Freedom U VS, CSR VI
Citibank: AAdvantage Platinum WEMC
Elan/US Bank: Fidelity VS
Credit Union: Rewards Visa
FICO 08: (1.1.20) EX: 827 / EQ: 838 / TU: 833
Message 17 of 19
Established Member

Re: Need a Plan .... Ready to start rebuilding!

1. USAA is supposedly changing their secured card. Possibly one that graduates 🤞🏽 I have placed it in the sock drawer for now.
2. My plan.
3. If they remove it from my credit report , it wouldn’t say settled ? Do they allow you to settle and pay over 3/6 months ?
4. Utility is SCE&G - still with the them. Comcast- credit management is the collection agency.
5. BB&T is the bank. Orginal limit $1800, $2153 with fees now.
6. Tuition is not a student loan. The actual college. Something happened between them and financial aid so they charged me.
Current FICO 8 (Jan ‘19): EX: 566 TU: 540 EQ: 517
Goal (Dec ‘19): EX: 670 TU: 680 EQ: 690
Secured: Capital One; Discover; NFCU
Message 18 of 19
Established Member

Re: Need a Plan .... Ready to start rebuilding!

With the Cap One Credit Step program, the increase is seen after the 7th statement cuts. I received the card in January. And just received my increase on June 30th. Hope that helps clarify any questions.
Current FICO 8 (Jan ‘19): EX: 566 TU: 540 EQ: 517
Goal (Dec ‘19): EX: 670 TU: 680 EQ: 690
Secured: Capital One; Discover; NFCU
Message 19 of 19
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