Updates
- All but 1 credit score is now above 600
- Credit One increased my credit limit from $400 to $600 randomly. No letter or notification or anything. I haven't even had the card 2 months but I certainly won't complain!
- Utilization ratio is hovering around 39% (had a expensive vet bill come up I split between the cards) but will drop with next month's payments below 20% for all cards
Sounds like you're on the right path. Keep it going!
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.
Wow it's been a long time since I visited this forum.
I recently went through a divorce so I can honestly say I'm right back where i started after that, a new car purchase, and 80% utilization on most of my cards after my father's heart attack. Scores are all about 550 now. Removed myself as authorized user from all my ex-husband's cards.
My "garden" had expanded to include a unsecured Finger Hut card with a $250 limit, a Wells Fargo Secured card with a $300 limit (only got because I had a bank account with them during my divorce and after a year of positive reporting it graduates to Unsecured), a Credit One card with a $300 limit, Verve at $500 and a Firestone Bridgestone card at $900. In continuing good news, the collections reporting to my credit dropped from 17 to 7 and has stayed that way for the past year.
Time to get back on track.
A few questions, if I may ask, of the more seasoned posters...
- I called all the cards where I was a authorized user on my husbands cards and had myself removed. Two recently started reporting negatively as late as hes not paying his bills apparently. Can I dispute these?
- I'm using the "snowball" method to pay down all of my cards to $0 or 30%. I'm setting a chunk of change aside each month to accomplish this within 6 months. Will this help increase my scores?
- I have 4 Unsecured cards ($1950 total available credit) and 4 Secured cards ($1900 total limits). Should I close my Secured cards once they are paid to $0 and keep only my Unsecured lines of credit?
Glad to be back everyone!
Lightbulb went off in my head today... maybe I'm getting slower as I get older.
If I'm going to get rid of my secured cards anyway... why didn't I tell them to close them and use the deposits to close the accounts as suggested above. Since they are almost maxed out, this is the quickest way to get rid of that debt instead of making small payments for the next 1.5 years... *insert picard facepalm moment here*
So I called First Progress and closed 2 of my biggest debts ($1300 total in secured debt) and immedietly put the payments that would have been going to them to my other cards next in line and I paid off THREE cards with that! (US Bank, Fingerhut and Wells Fargo)
This shaved off 4 months from my "payment plan" i figured out. I'll be 100% debt free in March 2015 if I can stick to it!
More success today!
Just got this e-mail from TransUnion. I sent physical letters but did a online dispute as well just to see what it was all about.
The accounts reporting negative where I was a 'Authorized User' formerly on my ex-husbands account have been removed!
You have done good to get back on the right track. I would think your previous experiences helped you for this time. Good luck.
Sent out a batch of HIPPA validation letters today for medical baddies on my credit.
Also a angry demand to remove the 10+ credit inquiries from Carmax for my recent vehicle purchase.
And one PFD letter to a 5 year old account.
Fingers crossed!