Trying to rebuild.

[Raison]

Looking to rebuild. My scores seem to bad all over the place. Trying to get near 680-700 range by December if possible on fico and a 620-650 vantage. March 2020 my scores were low 400s hoovering 430s

Exp fico 8: 620

Exp vantage 3.0: 554

Tu/equipment seem to both be hoovering vantage scores of 550s

Currently this is what I have all almost 3 years old. 

Victoria's secret: 620/900 cl

Express next: 0/250 cl

Discover it secured: 99/200 cl

I just added 2 new accounts: 

Credit one platinum in july with $300 cl

Military star card 4700 cl(just randomly applied not even thinking about it but it upped my available credit and dropped my usage down from 60% to 15%)

I feel like I need another major card to continue the rebuild. But the other side says Go garden for a bit.  My end goal would be to get one of the bigger cards like Chase/citi/boa or something in those lines.

I do have a recent collections in going to pay off in the next few months,  a card with some recent 60 days past due. I have taking a self lender loan out for a year and that has helped raise my score tremendously. I do have one account that should fall off my report in March. 

Need some help on what to do Garden or try for another card in a month or 2 since I have 2 recent inquiries and 2 new accounts.

[Anonymous]

I'm a newbie here myself - but if I were you I'd focus on getting those balances paid off. Sounds like you're carrying about $1500.

The advice here is a great place to start: https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/ABCD2199-s-Eleven-Rules-to-Credit-Rebuilding...

3 cards and 1 installment loan is enough to start moving the needle. Then you focus on taking out the trash (catching up collections, PFD/ GW letters) 

[Anonymous]

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@Raison wrote:

Looking to rebuild. My scores seem to bad all over the place. Trying to get near 680-700 range by December if possible on fico and a 620-650 vantage. March 2020 my scores were low 400s hoovering 430s

Exp fico 8: 620

Exp vantage 3.0: 554

Tu/equipment seem to both be hoovering vantage scores of 550s

Currently this is what I have all almost 3 years old. 

Victoria's secret: 620/900 cl

Express next: 0/250 cl

Discover it secured: 99/200 cl

I just added 2 new accounts: 

Credit one platinum in july with $300 cl

Military star card 4700 cl(just randomly applied not even thinking about it but it upped my available credit and dropped my usage down from 60% to 15%)

I feel like I need another major card to continue the rebuild. But the other side says Go garden for a bit.  My end goal would be to get one of the bigger cards like Chase/citi/boa or something in those lines.

I do have a recent collections in going to pay off in the next few months,  a card with some recent 60 days past due. I have taking a self lender loan out for a year and that has helped raise my score tremendously. I do have one account that should fall off my report in March. 

Need some help on what to do Garden or try for another card in a month or 2 since I have 2 recent inquiries and 2 new accounts.

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decreasing overall util was good, but you still have individual util hurting your scores. You need to pay off/down VS and Disco (you can let a small amount, under 9% report to reach AZEO for maximum score boost).

Paying off VS will cross several utilization thresholds, each of which will give you a small score boost. Same with Disco. 

VS is at 68% util

Disco is at 48% util

Apping for more cards will not increase your scores. You get dinged everytime a new card pops up on your CRs. This hurts your AAoA and AoYA.

I would take care of the baddies on your CRs, let those new cards age, let those lates age a bit, and pay down the cards you currently have. In a few months you should be in a much better spot to app for something if that is all taken care of.

With EX 620 scores (unknown other 2 CBs Fico scores) you may likely get a denial from those big banks prime cards (especially with the fairly recent lates and open CA) and even if you squeak by you will end up in low limit purgatory. Only bank I know of that uses Vantage Score (and 4.0, not 3.0) is Sync.

Good luck!

[Raison]

The other 2 scores are sitting at EQ 574 and TU 594.

No plans to get the big bank card until next Spring at the earliest. I am currently working to drop the VS down quite a bit as I actually make multiple payments a month.

The collections is the other thing I am working on to push that in the dust. All are attainable short term goals and long term the big bank card.

Definitly headed to the garden for a bit.