PenFed CLOC and other rebuild questions

[Anonymous]

Hello, 

First off, thank you all for contributing to the great info on this board.  I started my re-build last summer but have really kicked it in to gear since the first of the year.  Steps so far:

• Subscribed to MyFico monitoring to keep track of my scores which currently are:
  • 574 (Eq)
  • 598 (TU)
  • 590 (Ex)
• Obtained the following CC's:
  • Indigo MC ($300/$0 balance)
  • TOTAL Visa ($300/$25 balance)
  • Fingerhut ($600/$10 balance)
  • Discover Secured ($400/$11 balance)
  • Citi Secured ($200/$0 balance)
• Additional credit:
  • Self Lender loan ($500, $415 balance.  Will be PIF Dec 17)
  • New this morning! PenFed CLOC $500
• The bad stuff
  • 5 items with CA's.  I'm working to get these off.  
  • Ch7BK dc'd in 2010.  Hopefully as this ages it won't have as much of an impact. 

Questions:

• What will the PenFed look like on my CR?  Is this something that will grow over time?  Do they do auto CLI's or will I need to request?
• One of my baddies is a collection with Stellar Recovery.  It says it is from Comcast but shows as a $0.  I've called Comcast who denies ever sending anything to Stellar Recovery.  I have a current in good standing account with them.  However, they won't send anything to Stellar to deny that I've had a collection.  I tried a dispute, which came back as verified.  Any suggestions on my next step?

Thanks in advance for your help!

[Anonymous]

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@Anonymous wrote:

Hello, 

First off, thank you all for contributing to the great info on this board.  I started my re-build last summer but have really kicked it in to gear since the first of the year.  Steps so far:

• Subscribed to MyFico monitoring to keep track of my scores which currently are:
  • 574 (Eq)
  • 598 (TU)
  • 590 (Ex)
• Obtained the following CC's:
  • Indigo MC ($300/$0 balance)
  • TOTAL Visa ($300/$25 balance)
  • Fingerhut ($600/$10 balance)
  • Discover Secured ($400/$11 balance)
  • Citi Secured ($200/$0 balance)
• Additional credit:
  • Self Lender loan ($500, $415 balance.  Will be PIF Dec 17)
  • New this morning! PenFed CLOC $500
• The bad stuff
  • 5 items with CA's.  I'm working to get these off.  
  • Ch7BK dc'd in 2010.  Hopefully as this ages it won't have as much of an impact. 

Questions:

• What will the PenFed look like on my CR?  Is this something that will grow over time?  Do they do auto CLI's or will I need to request?
• One of my baddies is a collection with Stellar Recovery.  It says it is from Comcast but shows as a $0.  I've called Comcast who denies ever sending anything to Stellar Recovery.  I have a current in good standing account with them.  However, they won't send anything to Stellar to deny that I've had a collection.  I tried a dispute, which came back as verified.  Any suggestions on my next step?

Thanks in advance for your help!

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Not sure I understand what you mean when you ask "What will PenFed look like?" PenFed is a great credit union. Just be patient and use your credit line well. Sometimes it is hard to wait for new credit to age (for me, too), but it is well worth the wait for PenFed.

I am sure you will get many better responses from others in the forum, but just wanted to add my two cents.

I edited my reply to add a congratulations on your rebuild!

[Anonymous]

Sorry about that!  What I meant was "What will the PenFed CLOC look like on my credit report?"

[Anonymous]

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@Anonymous wrote:

Sorry about that!  What I meant was "What will the PenFed CLOC look like on my credit report?"

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I am curious about this too! I just signed up for an account with them on Monday and was approved for the OD line of credit. They said it will show as open ended credit on my credit reports, but I don't know exactly what that will report as. Like a credit card? Like a loan with 0 balance?

[Anonymous]

Bump-any input on the Comcast collection?

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

Sorry about that!  What I meant was "What will the PenFed CLOC look like on my credit report?"

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I am curious about this too! I just signed up for an account with them on Monday and was approved for the OD line of credit. They said it will show as open ended credit on my credit reports, but I don't know exactly what that will report as. Like a credit card? Like a loan with 0 balance?

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It will report as "Line of Credit. But it will also say revolving. Not installment.

[Anonymous]

I would wait until your scores are better to apply for any loan products with PenFed they are too low for their lowest risk based lending. It starts at 624.

[Anonymous]

Actually even with my not so great scores I was approved for an Access America checking account with a $500 CLOC.  I'm hoping to finance a car through them this summer.  Anyone have any idea what my scores will need to be for approval?  

[Anonymous]

PNW - the score penfed gave me was 608. I was approved for savings, checking, cloc, and a $38k joint auto loan. My husbands score is higher than mine but both of us have a much lower equifax than the other two bureaus. My equifax fico 08 is 619 so I'm assuming that 608 is my penfed score (next gen??). They didn't send me a score for my husband who is joint on the loan though. I'm sure his score and his income are what helped. If they send us his score I'll update.

[Anonymous]

That's great to know! I'm hoping to buy a Mazda CX-5, which is about $31,000. With cash and trade in I'll need to finance about $26,000. If I continue the steady score increase until August when I want to buy I should (hopefully!) be ok.