@Anonymous wrote:I have a $400 collection that's from 2015 I am attempting to validate, and another for Synchrony held by Portfolio Recovery for $1,181 also from 2015. There are two more but they're falling off my report in a couple of months so I'm just going to let them go.
My plan such as it is, as advised by some members here, is to open 1 or hopefully 2 secure credit cards in the next couple of months to start building my credit history back up. Right now my only good standing accounts are AUs.
If the first debt validates, I will be contacting the CA immediately to work out a settlement. The second doesn't drop off until april of next year so I figure I'd rather get ahead of the game and see if they'll let me settle for less as well. Since it's Portfolio I'm aware they'll delete it within 30 days of payment. Does it make sense - is it even probable - to take out a small loan of 1-$1,500 from my bank or another lender (so long as it's not flagged as a CFA) to make those settlements?
I'm not worried about a high interest rate so long as I can pay it off early with no penalties. I already have money on hand to cover that, literally the idea would be to put a personal loan on my credit report that was paid and in good standing. Or does something that small not make a difference even if I could get one? Am I thinking too hard about this?
I would get a couple secured cards right now. The resulting score boost will give you better options no matter what you do next. Can you get into NFCU?
@Anonymous wrote:
@spiritcraft1 wrote:
I would get a couple secured cards right now. The resulting score boost will give you better options no matter what you do next. Can you get intoNFCUU?Do you think it's even possible right now? MyFico88 is EX 638 EQ 522TUU 629 - the EQ is in the dumps right now because I had to send them a letter with my identification to prove who I was, as no one could access the EQ report, and all of my accounts dropped from it. They're slowly adding them back.
Absolutely! See thatNFCU GoRewards card in my sig? I got that with a 408 TU 09 score withh (8) CO,s totalling 45k and (3) CA's totalling 18k all just two years old. The Discover was approved as a secured card at a 580 EX or EQ, can't recall and the Applee FCU was around the same score with TU. There are many options out there and a local CU may help and that will grow a history with them for that personal loan should you need it.
NFCU is the best. Try Discover prequall if you have not burned them recently. OpenSky though "subprime" does not require a HP and you could cancel after a year. Do this secured card deal and then do what you want with the CA's. It WILL boost your score.
You need a TU or EX puller.
@spiritcraft1 wrote:
Absolutely! See thatNFCU GoRewards card in my sig? I got that with a 408 TU 09 score withh (8) CO,s totalling 45k and (3) CA's totalling 18k all just two years old. The Discover was approved as a secured card at a 580 EX or EQ, can't recall and the Applee FCU was around the same score with TU. There are many options out there and a local CU may help and that will grow a history with them for that personal loan should you need it.
NFCU is the best. Try Discover prequall if you have not burned them recently. OpenSky though "subprime" does not require a HP and you could cancel after a year. Do this secured card deal and then do what you want with the CA's. It WILL boost your score.
I tried Discover Prequal the other day and it returned Discover IT and Discover IT Chrome, no secured cards.
I am so sorry if these are stupid questions, I am just trying to be careful I don't make things worse so I'm asking everything, even things I've read about - if I app for a regular (unsecured) card on the SUPER OFF CHANCE that it may go, am I burning my chance for the secured? I keep getting prequal's from capital one for an unsecured card as well, I'm just nervous to pull the trigger because of the HPs and the fact that prequals aren't guaranteed and seem to be there just to torment me. 
@Anonymous wrote:
@spiritcraft1 wrote:
Absolutely! See thatNFCU GoRewards card in my sig? I got that with a 408 TU 09 score withh (8) CO,s totalling 45k and (3) CA's totalling 18k all just two years old. The Discover was approved as a secured card at a 580 EX or EQ, can't recall and the Applee FCU was around the same score with TU. There are many options out there and a local CU may help and that will grow a history with them for that personal loan should you need it.
NFCU is the best. Try Discover prequall if you have not burned them recently. OpenSky though "subprime" does not require a HP and you could cancel after a year. Do this secured card deal and then do what you want with the CA's. It WILL boost your score.
I tried Discover Prequal the other day and it returned Discover IT and Discover IT Chrome, no secured cards.
I am so sorry if these are stupid questions, I am just trying to be careful I don't make things worse so I'm asking everything, even things I've read about - if I app for a regular (unsecured) card on the SUPER OFF CHANCE that it may go, am I burning my chance for the secured? I keep getting prequal's from capital one for an unsecured card as well, I'm just nervous to pull the trigger because of the HPs and the fact that prequals aren't guaranteed and seem to be there just to torment me.
According to DP's anyway, Discover may pull EX if you cold app and could still pull EX with the prequal.
Check this out: https://ficoforums.myfico.com/t5/General-Credit-Topics/The-quot-Which-Banks-Pull-Which-Report-For-Apps-quot-list/td-p/5542910
If you are getting a prequals for unsecured cards, you may be better off than you think. Your EX and TU score may be able to land a card or two that is unsecured. Don't worry too much about INQ's but don't waste them either. I would give Discover a shot. Cap1 is (3) HP's for perhaps a bucketed card... not a Cap1 guy so someone else would have to help there.
Who did you burn?
Who are your AU's with?
Do you have a few local CU's?
Can you join the Navy? 
You are close to making a big step here. You are almost in AMEX land with your EX score.
@spiritcraft1 wrote:
Who did you burn?
Who are your AU's with?
Do you have a few local CU's?
Can you join the Navy?
You are close to making a big step here. You are almost in AMEX land with your EX score.
Burned: Amex (yep 
), Chase, and SynchronyX2. I have two auto loans still on my report that are paid but were charged off. Two medical bills from 2014 fall off this year. Amex fell off a while back but I'm sure I'm blacklisted. Chase falls off this year.
AUs: Citi (Costco, $15k), Chase (Amazon, $19,5), Lowes ($20k) These make my credit karma look snazzy, if nothing else.
CUs: Closest Credit Union is 4 hours away in Denver. I've been with Alpine Bank for 5 years since I moved here.
Navy: Not only am I turning 40 this year, but it would severely hurt my business to take off on a tour of duty at the moment.
@Anonymous wrote:
@spiritcraft1 wrote:
Who did you burn?
Who are your AU's with?
Do you have a few local CU's?
Can you join the Navy?
You are close to making a big step here. You are almost in AMEX land with your EX score.
Burned: Amex (yep
AUs: Citi (Costco, $15k), Chase (Amazon, $19,5), Lowes ($20k) These make my credit karma look snazzy, if nothing else.
CUs: Closest Credit Union is 4 hours away in Denver. I've been with Alpine Bank for 5 years since I moved here.
Navy: Not only am I turning 40 this year, but it would severely hurt my business to take off on a tour of duty at the moment.
That part was in Jest... Any family members serve?
Sync will let you back in at some point, AMEX as well. How long ago for these burnings?