Not sure what I should do?

[ACN323]

In the process of paying down my 3k Capital One charge off. I have it down to $2496, after paying $200 monthly. Not much, I know..but it's all I can do at the current moment, until I can throw like 1k at it and then another big chunk. That is the only baddie on my credit report. I have 3 accts in good standing, one secured through Citi, (19 months old), one unsecured through Disco (13 months old) and an AU on my husbands Amex acct, (4 months). I've been doing AZEO every month and have seen increases in my TU F8 scores and EQF8 scores. My EX F8 score however, has remained the same for months...I don't understand why, because it has the exact same things on my credit report as each of the other bureaus. There's nothing different compared to the other two. My TU and EQ are like 10 points within eachother. I know I won't see significant score increases until I pay off the Cap1 to 0, but it's so frustrating to see EX just sit there. I haven't applied for any new credit cards since 06/19. I only have 3 inquiries that are due to come off this year and next. Should I apply for another card, or just continue gardening and paying down the Cap1 charge off? Any advice would be greatly appreciated! 

[Anonymous]

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@ACN323 wrote:

In the process of paying down my 3k Capital One charge off. I have it down to $2496, after paying $200 monthly. Not much, I know..but it's all I can do at the current moment, until I can throw like 1k at it and then another big chunk. That is the only baddie on my credit report. I have 3 accts in good standing, one secured through Citi, (19 months old), one unsecured through Disco (13 months old) and an AU on my husbands Amex acct, (4 months). I've been doing AZEO every month and have seen increases in my TU F8 scores and EQF8 scores. My EX F8 score however, has remained the same for months...I don't understand why, because it has the exact same things on my credit report as each of the other bureaus. There's nothing different compared to the other two. My TU and EQ are like 10 points within eachother. I know I won't see significant score increases until I pay off the Cap1 to 0, but it's so frustrating to see EX just sit there. I haven't applied for any new credit cards since 06/19. I only have 3 inquiries that are due to come off this year and next. Should I apply for another card, or just continue gardening and paying down the Cap1 charge off? Any advice would be greatly appreciated! 

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It looks like you're doing everything right. FICO scoring works best when you also have an installment loan that is reporting. AZEO requires you to have 3 active revolving accounts, 2 reporting zero balances and one reporting a small balance that you pay in full. Now since the Capital One is a charge off, and you are an AU on your husband's account, then you only have 2 CCs that count for Fico scoring. You need one more CC then you can have AZEO. AZEO does not work with an AU; all your CCs must be primary accounts AFAIK. Good luck!

[ACN323]

@Anonymous  good to know! No wonder this has been such a slow rebuild for me! Any cards you recommend? I don't want to get a fee harvester card, but maybe for the sake or rebuilding it makes sense? Then cancel it after my scores increase? Or does it make sense to get another secured card? 

[Anonymous]

You could try to prequal at

 BB&T (sp equifax, need to be in region, or suntrust; they both are combining to form Truist)

 Get a card with NFCU if you can become a member; they will HP when you open the account but you can use the HP to apply for cards, if you don't get a good one, they will give you a secured card

 you can try Merrick bank, Blaze, or Mercury cards. Merrick and blaze have AFs

 if you're past one year with Discover you could try their prequal tool (you're allowed One Discover card per year I guess)

 is you're an au on Amex, why not try another Amex for you? Prequal first. 

There are tons of subprime cards out there, but I don't think they are worth your time. Try this and see what happens

 good luck!

[ACN323]

@Anonymous I will definitely check some of those out! Thanks! 

[Girlzilla88]

@ACN323    I wouldn't shoot with Amex right now (just my 2 cents) but the others did sound hopeful you do also want to make sure what card you are using as your main card for you AZ method is a Bank issued type of card and then the others report to 0.     Everyone is being a bit stingy or stingey not sure how to spell it lol right now so if you can get a foot in anywhere it will be great, but you are correct that once that big bad wolf is gone (and hopefully you can get it all the way gone not just paid off) then your scores will see a good boost     Any progress is a good progress so be proud of what you have accomplished so far I saw you say I know it's not much, BUT something is better than sitting in the same position so GO YOU!!        Stay on track and if you want to check around for SP prequalifiers or banks/places you trust for a card definitely read up on them here or ask FAQ on a specific card you may have in mind so we can help too      Good Luck 

[ACN323]

@Girlzilla88 Thank you! I try the Amex prequal all the time, not sure why...I know my 573 Experian is literally not even in the ball park of their approvals at all, but I'm always like just try lol. I might be able to pay off the entire chunk of the Cap1 in like a month or so. Maybe I'll just hold off on applying for any cards and focus on that. I switch between my Citi secured and Disco each month in terms of letting a small balance report. I think once I see my EX go over the 600 threshold at some point, I'll feel better. It's just been A LONG time in the 500's. Thank you for the encouragement, hopefully something gives soon! 

[Girlzilla88]

@ACN323      Both routes sound good honestly, but if you can wait to pay it off/get it off then honestly you would have a better shot at more approvals or even possibly higher SL approvals.      Keep us posted and look forward to good news soon!

[ACN323]

@Girlzilla88 I spoke with a CSR at Cap1 and she said they will not do a pay for delete. I will totally try a goodwill letter, but I heard they are pretty tough to crack, if they do. I will def update once I make some moves! 

[Girlzilla88]

@ACN323    For PFD or GW reach higher up try the CEO or someone of importance and if you can PIF PIF that is the best route to take and usually results in positive endings