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Where to go from here!!!?

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Established Member

Where to go from here!!!?

Hello Everyone!

Just restarting my rebuild this year 2019 after falling off about 7 years ago, merely 3 years after starting the first time. God willing I will stay focused this time! Experian.com has me at 505, Credit Karma Equifax has me at 525, and Credit Karma Transunion at 525 as well. I know they are not exactly correct many times or based on fico 08 or 14 or newer scoring models. My credit profile has NO open accounts and 19 closed accounts including 5 collections. Even all the closed accounts have extensive late payment history. Student loans, an auto loan, a couple personal loans, and a couple utility collections. 9 of the accounts fall off by end of this year. 5 of the accounts I'm working on PDFs and should have no problem doing so. Almost certain student loans are double reporting. Should leave me with merely 3 accounts by end of this year. Applied for Citi Secured, Capital One Secured, and Discover It. Much to my surprise I was approved for the Citi Secured and the Capital One Secured with $99 deposit. Discover denied me. Along with these 2 secured CCs and a pending student loans consolidation account will give me 3 open and 3 closed accounts. Should I continue my great payment history for awhile before applying for ANY thing else guys? Just garden the 2 CCs and student loan? Any help or direction from here is greatly appreciated. Thanks.
Message 1 of 12
11 REPLIES 11
Regular Contributor

Re: Where to go from here!!!?

Yeah honestly I would just build the relationship you have with Citi and capital one and work on getting all the baddies off your report also when the time comes and you've paid off your accounts ask if they stop reporting when it's fully paid and if not send in some Goodwill letters to the collection agencies it actually worked for me last month thanks to a good will letter I had my last collection acct removed anyways best of luck to you we gotta start somewhere you know I'm definitely no expert or anything just my opinion.

Fico 8 scores 100% on time payments 18% utilization tu inquirys 5 eq inquirys 4 ex inquirys 11:
Ex: 726 tu: 716 eq: 718
Aaoa is only 9months
Discover it cash back: $4500

Citi double cash: $1000
Fingerhut account: $800
Google store card : $1500
Amazon prime store card: $800
Citi AA Mile Up:$3700
American Express everyday: $2000
American Airlines WEMC: $6300
17k auto loan 6 year 10.99% interest loan
Gardening since: 04/30/19
Message 2 of 12
Contributor

Re: Where to go from here!!!?

 wrote:
Hello Everyone!

Just restarting my rebuild this year 2019 after falling off about 7 years ago, merely 3 years after starting the first time. God willing I will stay focused this time! Experian.com has me at 505, Credit Karma Equifax has me at 525, and Credit Karma Transunion at 525 as well. I know they are not exactly correct many times or based on fico 08 or 14 or newer scoring models. My credit profile has NO open accounts and 19 closed accounts including 5 collections. Even all the closed accounts have extensive late payment history. Student loans, an auto loan, a couple personal loans, and a couple utility collections. 9 of the accounts fall off by end of this year. 5 of the accounts I'm working on PDFs and should have no problem doing so. Almost certain student loans are double reporting. Should leave me with merely 3 accounts by end of this year. Applied for Citi Secured, Capital One Secured, and Discover It. Much to my surprise I was approved for the Citi Secured and the Capital One Secured with $99 deposit. Discover denied me. Along with these 2 secured CCs and a pending student loans consolidation account will give me 3 open and 3 closed accounts. Should I continue my great payment history for awhile before applying for ANY thing else guys? Just garden the 2 CCs and student loan? Any help or direction from here is greatly appreciated. Thanks.

Keep the cards you have and keep utilization low. Spend as much as you need but by statement day make sure the cards are reporting low ult and then Pay in full before the due date. 
 
Im like you as I started to fix my credit again after trying before. I have a Citi secured and discover secured. Keep up the good payments try and pay off some collections and your score will start to rise. Remember this credit game isn’t a sprint so numbers moving slowly in the + category I’d better than moving down rapidly in the - category. 
 
Good luck! 
Message 3 of 12
Established Member

Re: Where to go from here!!!?

I'm excited, because much hasn't changed since 10 years ago when I originally started. Same PFDs and GW letters, etc. Scoring systems seem to be a little different but altogether similar. Also, quick question about whether I should allow my fiancee to add me as AU on her 5k CC with perfect payment history of 5 to 7 years or so? Or would it not make a big difference than the 2 CCs aging that I just got?
Message 4 of 12
Contributor

Re: Where to go from here!!!?


@BeyondMG wrote:
I'm excited, because much hasn't changed since 10 years ago when I originally started. Same PFDs and GW letters, etc. Scoring systems seem to be a little different but altogether similar. Also, quick question about whether I should allow my fiancee to add me as AU on her 5k CC with perfect payment history of 5 to 7 years or so? Or would it not make a big difference than the 2 CCs aging that I just got?

Get added on. Positive payment history will look good on your account. If she’s responsible with the CC as you said than I see no harm and getting added. 

Message 5 of 12
New Contributor

Re: Where to go from here!!!?

@travisz281

Do you think a good will letter would be acceptable to a mortgage company that reported negatives for almost an entire year while going through a loan modification? That was 1 year 5 mos ago but nonetheless its still a negative. Just wondering if good will letters are more for late fees.

 
Starting FICO 8 Score: 2/12/19 EQ579, TU 588, EX 624
Current Score: 10/27/19 EQ682, TU 708, EX 692
Goal Score: 750+ by March 2020


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Message 6 of 12
Regular Contributor

Re: Where to go from here!!!?

@credit_mama well in my experience it was a 3 year old title loan I never paid but to answer your question I honestly don't see why not the point of a good will letter is just to politely ask the collection agency or creditors to stop reporting negative things to the bureaus

Fico 8 scores 100% on time payments 18% utilization tu inquirys 5 eq inquirys 4 ex inquirys 11:
Ex: 726 tu: 716 eq: 718
Aaoa is only 9months
Discover it cash back: $4500

Citi double cash: $1000
Fingerhut account: $800
Google store card : $1500
Amazon prime store card: $800
Citi AA Mile Up:$3700
American Express everyday: $2000
American Airlines WEMC: $6300
17k auto loan 6 year 10.99% interest loan
Gardening since: 04/30/19
Message 7 of 12
Established Member

Re: Where to go from here!!!?

I thought so. Thanks for confirming. Also kicking myself by not applying with NFCU secured CC as I been a member for a few years.
Message 8 of 12
Established Member

Re: Where to go from here!!!?

Did last app with NFCU... Got approved! Excited about that. Working these PFDs and GWs to these 5 COs, and letting everything age. Do have a question about student loans appearing as US Dept of Edu AND as Dept of Edu Navient. Is this considered double reporting?
Message 9 of 12
Senior Contributor

Re: Where to go from here!!!?


@BeyondMG wrote:
Did last app with NFCU... Got approved! Excited about that. Working these PFDs and GWs to these 5 COs, and letting everything age. Do have a question about student loans appearing as US Dept of Edu AND as Dept of Edu Navient. Is this considered double reporting?

It sounds like your student loans were defaulted, in which case, the reporting would be correct.  The original account holder *and* the collection agency can both report on a defaulted loan.


EQ: 795 | EX: 785 | TU: 783 | Accounts: 2/6 6/12 10/24
Happy practitioner of AZE6or7or8
Message 10 of 12
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