Rebuilding Log (Help Needed!)

[ladyjaye82]

Just saw my first score increase since joining myFICO. I'm pretty sure it was based on bringing my UTI down from 36% to 23%. I'm on pace to have my credit cards paid off by March or earlier dependent upon a work bonus and a potential tax refund. I also was able to get my Cap1 Platinum upgraded to the Quicksilver card with no AF. Hoping to get another CLI in the spring. Working on PFD for some medical collections based on the info I received here and another very old paid collection should be falling off next month.

Once my cards are paid off my big debts are my car loan and my student loans. In theory I can pay my car off before the end of the year if I throw money at it while continuing my minimum on my student loans. Should I be focusing on that next or should I be putting more money on my student loans because I owe so much more than I borrowed due to deferements and forbearance?

[Anonymous]

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@mrs50cal wrote:

Just saw my first score increase since joining myFICO. I'm pretty sure it was based on bringing my UTI down from 36% to 23%. I'm on pace to have my credit cards paid off by March or earlier dependent upon a work bonus and a potential tax refund. I also was able to get my Cap1 Platinum upgraded to the Quicksilver card with no AF. Hoping to get another CLI in the spring. Working on PFD for some medical collections based on the info I received here and another very old paid collection should be falling off next month.

Once my cards are paid off my big debts are my car loan and my student loans. In theory I can pay my car off before the end of the year if I throw money at it while continuing my minimum on my student loans. Should I be focusing on that next or should I be putting more money on my student loans because I owe so much more than I borrowed due to deferements and forbearance?

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I would concentrate on the school loans to get them below the original amounts - preferrable to 90% of the originals.

[ladyjaye82]

So I've been really focusing on paying down and completely payed off my Cabela's card. As a result they lowered my limit from $1500 to $1000. Why would do this? Don't most companies raise it to encourage more spending? What do I do at this point? Do I request an increase? Call them? I'm really bummed out by this.

[ladyjaye82]

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@ladyjaye82 wrote:

So I've been really focusing on paying down and completely payed off my Cabela's card. As a result they lowered my limit from $1500 to $1000. Why would do this? Don't most companies raise it to encourage more spending? What do I do at this point? Do I request an increase? Call them? I'm really bummed out by this.

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Bump!

[Anonymous]

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@ladyjaye82 wrote:

So I've been really focusing on paying down and completely payed off my Cabela's card. As a result they lowered my limit from $1500 to $1000. Why would do this? Don't most companies raise it to encourage more spending? What do I do at this point? Do I request an increase? Call them? I'm really bummed out by this.

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Its called "balance following" - and it sucks. A lot of the prime banks will do it if your account is maxed out and you make minimum payments for any length of time. Sometimes they will follow you all the way down to $100 bucks. Not much you can do other than start showing better usage patterns (PIF before the statement closes), and wait them out.

[ladyjaye82]

Ugh. Not the answer I wanted to hear but thank you. Bad business, imo but I guess I'll just set up some of my reocurring charges (Netflix/MyFico) to this card and then just PIF monthly. Thanks for the answer.

[ladyjaye82]

Ok so I have this lone charge-off on my reports and I'm wondering what/if anything I need to do in regards to this account. If I understand all of this correctly it should drop off my account this year.It's already marked as paid so I'm assuming I need to take no further action in regards to payment on this account. Should I request an EE?

Also has anyone had any success with getting a GW removal from a closed auto-loan with USAA? My ex-hubs and I had a joint loan for his vehicle that he has since re-fied in his name only. We had one 30-day late back in 2013. Iwould LOVE to get this dropped but I know USAA can be a bit stingy.

[ladyjaye82]

Bump!

[ladyjaye82]

Help?

[gdale6]

Try to get the EE on the Cap-1 if no go try GW request to them directly