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Rebuilding credit....What's the next step?

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Member

Rebuilding credit....What's the next step?

Hi Everyone. I'm currently in the process of rebuilding my credit. As of right now my FICO score is 612. A little than the 590 something I had last year lol I currently have Capital One Platinum CC and Credit One CC. On top of that I have also open student loans all of which I have been paying on time. I was wondering if there is anything else I can do as of this point to increase my credit score? 

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Established Member

Re: Rebuilding credit....What's the next step?

Do you have anything bad reporting? Late payments? Charge offs? Collections?
You can get another card possibly secured try discover offers one that has an option to unsecure after 7 months
Use the AZEO method with these cards.
Message 2 of 5
Established Contributor

Re: Rebuilding credit....What's the next step?

Read ABCDs 11 Rules to Credit Rebuilding.  This guy is a credit guru!  You'll learn a lot from reading that 1 post.

 

You should have 3 cards, ideally only showing a balance on 1, at less than 8.99% util.  There are other great pointers in his article.

 

Keep it up, you're in the right place, and on the right track!

 

Peace!

~~~Rebuilding Score History~~~
Starting Ficos: EX 541, EQ 493, TU 523 (07/02/2016)
Latest Ficos: EX 659, EQ 696, TU 739 (02/24/2018)
1st Goal Ficos: EX 700, EQ 700, TU 750 (12/31/2018)
~~~Credit lines~~~~
BofA Platinum Plus: $2000
Capital One Platinum: $500
Discover It: $10,500
Chase Freedom Unlimited: $6400
Home Depot: $500
BofA Cash Rewards: $1500
Lowe's: $1000

My Credit Rebuild


Take the myFICO Fitness Challenge
Message 3 of 5
Member

Re: Rebuilding credit....What's the next step?

Hi thanks for response! The only thing bad in my reporting are two collection accounts. One of which is from Portfolio Recovery (an old Capital One bank card that went to collections when I was in college-worth $559 open 4 years ago) and another one is from The CBE Group Inc ( Time Warner Bill also happened in college-worth $216). Sent a PFD letter for Portfolio but they didnt really budge. The other one in collection is recent and I didn't had an idea of it until now (last bill after I left apparently when I was living off campus in college). Any idea on how to go about them or should I just focus on the AZEO to get where I wanna be? 

Message 4 of 5
Valued Contributor

Re: Rebuilding credit....What's the next step?


@tamagucciwrote:

Hi thanks for response! The only thing bad in my reporting are two collection accounts. One of which is from Portfolio Recovery (an old Capital One bank card that went to collections when I was in college-worth $559 open 4 years ago) and another one is from The CBE Group Inc ( Time Warner Bill also happened in college-worth $216). Sent a PFD letter for Portfolio but they didnt really budge. The other one in collection is recent and I didn't had an idea of it until now (last bill after I left apparently when I was living off campus in college). Any idea on how to go about them or should I just focus on the AZEO to get where I wanna be? 


Contact time warner directly and see if you can pay the bill in full directly to them, and then ask them to recall the collection. Portfolio is a tough nut to crack, seems to take a lot of time, letters and calls. And even then, deletes are rare. At the very least, having a zero balance on the account will help your scores. 

Gardening until June 2019

Starting FICOs: EX 623, EQ 589, TU 600 (06/10/17)
Current FICOs: EX 697, EQ 683, TU 700 (06/18/18)
1st Goal FICOs: EX 750, EQ 750, TU 750 (??/??/??)
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