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Where to Start? New Member, Some Progress Already

New Member

Where to Start? New Member, Some Progress Already

My credit used to be in the 500s, now I am at Experian 630, Equifax 639, and Transunion 658. 


Long story short, when I was going to college out of state my father said he was going to handle the CC's in my name that I used for living expenses. Turns out he didnt pay for them on time, and he charged one off. I came home 2 years ago to a whole mess of credit problems, and I've been trying to fix them.


On my credit I have:


1. Chase CC acct that shows it is closed, but a settlement was taken


2. collections account from Creditors Collection that shows closed no balance


3. collections account from Escallate LLC that shows closed no balance


4. collections from GECRB that shows closed, charge-off, transfered to other collector


5. Wells Fargo CC acct that shows closed, but settlement was taken



Most of these accounts and settlements are all from 2009-2010. 


For the last year I have had a C1 secured card, with first a $1000 limit (they gave me $300, I added $700), then after a year they upped me $300  to $1300without additional deposit. This is my only CC, current on payments for 15 months. 


Where should I go from here? I have an 80K / yr job, and chase turned me down for their basic CC despite the fact I bank with them. MB financial offered me a secured card, I bank with them as well. 


Should I get another CC or two? Is their anything I can do about the negative stuff above that shows up on my credit?




Message 1 of 5
New Member

Re: Where to Start? New Member, Some Progress Already


Message 2 of 5
Valued Contributor

Re: Where to Start? New Member, Some Progress Already

What about the rest of your credit profile? Your scores are pretty decent, considering.  Credit mix, AAoA, utilization, total payment history since the 09-10 baddies.  I'd get to work GWing the crap out of the older collection accounts.


Edit:  I should add, CC decisions are purely credit based, they don't care about your relationship with the bank and your credit score does not take into account your income.

  • Current: EQ FICO 706, TU FICO 701, EX FICO 706 | Starting Score: 525 (05/2012)
  • Starting total revolving credit: $1100 | Current total revolving credit: $36,700
  • Inquiries (12 Months): EQ 2 TU 1 EX 1 | Most Recent: 1/21/2014
Chase Freedom $9500
DCU Visa $10000
Capital One QS $2000
AMEX BCE $3000
Lowe's CC $8500
WalMart CC $3100
BOA Platinum $600
Message 3 of 5
Established Contributor

Re: Where to Start? New Member, Some Progress Already

Don't try to build a relationship with Chase, because you are now blacklisted for the settlement.  Even if you had paid the balance in full, they still would have blacklisted you indefinitely, because that's what they do.  GW letters should be your next course of action.  It's too bad that everything was settled and paid before you knew about PFD.  That could have saved you a lot of headaches.

Starting Score: TU: 566
Current Score: TU: 741 (Discover FICO); EQ: 755 (MyFico) EX: 774 (FAKO)
Goal Score: 800

Take the FICO Fitness Challenge
Message 4 of 5
Moderator Emeritus

Re: Where to Start? New Member, Some Progress Already

Start sending the GWs to those paid accounts.  Go ahead and get the secured card, it will give you another revolving TL that will help your account.  Read the link below regarding GWs.  Formulate your plan and get those going.  Good Luck!

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 5 of 5