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what should my next step be

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selective
Member

what should my next step be

been fixing my score the last year from bad choices in 2019 what should my next step be have already

paid all collections and charge offs... 2 charge offs and 1 collections couldn't get deleted from report but all 0 balance and say paid

opened 2 secured cards one with armed forces bank ( 6 months) other with u.s. bank (2 months)(will be doing azeo next report update didn't know u.s. bank post 1st of the month balance instead of statement balance)

opened credit builder loan (9 months)

average age: 5 years

late payments: 3 (from charge offs i couldn't get deleted)

 

scores

eq: 591  tu:617 ex:623

income 60,000

 

Message 1 of 7
6 REPLIES 6
GatoradeZeroGuy
Frequent Contributor

Re: what should my next step be

1 more credit card and then allow time to continue report positive payment history from your 3 cards and your loan.

 

Perhaps an emergency fund 3-6 months to help curb the ill effects any future bad choices/luck/life in the future.

 

60k income in CA is much different than 60k in MI, so only you know the context of how much that will be. 

 

Cap1 Platinum, Petal 1, Mission Lane, Discover Secured, Other CU secured Try the prequals, see what you're offered. 

Starting FICO 8s

Current FICO 8s

Current FICO 9s



Message 2 of 7
selective
Member

Re: what should my next step be

thanks for the input, already have about a months pay in savings account.

live in the middle of nowhere in ks so 60,000 is about as good as it gets, no morgage or car payment so thats a plus.

end game would like delta reserve, and world of hyatt, since i work a week than have a week off 2023 my plan is to take advantage of the week off and go for status with delta and hyatt while i travel

Message 3 of 7
Chazzay12
New Contributor

Re: what should my next step be


@selective wrote:

been fixing my score the last year from bad choices in 2019 what should my next step be have already

paid all collections and charge offs... 2 charge offs and 1 collections couldn't get deleted from report but all 0 balance and say paid

opened 2 secured cards one with armed forces bank ( 6 months) other with u.s. bank (2 months)(will be doing azeo next report update didn't know u.s. bank post 1st of the month balance instead of statement balance)

opened credit builder loan (9 months)

average age: 5 years

late payments: 3 (from charge offs i couldn't get deleted)

 

scores

eq: 591  tu:617 ex:623

income 60,000

 


Sounds like you're on a good path. @GatoradeZeroGuy  gave great advice already to build up your personal savings and apply for one more card. You get a point boost for having 3 revolvers& 1 installment. Check prequalify pages. If you need to Discover has a great secured card that graduates usually in 6-7 months. 

After that sounds like you just need to garden and let those new positive accounts age and gain some positive history. Your scores will keep going up. The charge offs will take 7 years to fall off. See if you can maybe write a good will letter to the collection agency to have the collection account removed since it's been paid.

 

however - I think a big congratulations is in order for taking the right steps and working on your credit and personal finances. You're definitely on the right path Smiley Happy





Scores as of 9/30/2022

Discover It (Student) $500 | Capital One QS $800 | Amex BCE $1000 | Chase FU $500 | Car loan w/ Langley @ 3.5%. 8.2k left.
Message 4 of 7
Suzette2
Frequent Contributor

Re: what should my next step be


@selective wrote:

been fixing my score the last year from bad choices in 2019 what should my next step be have already

paid all collections and charge offs... 2 charge offs and 1 collections couldn't get deleted from report but all 0 balance and say paid

opened 2 secured cards one with armed forces bank ( 6 months) other with u.s. bank (2 months)(will be doing azeo next report update didn't know u.s. bank post 1st of the month balance instead of statement balance)

opened credit builder loan (9 months)

average age: 5 years

late payments: 3 (from charge offs i couldn't get deleted)

 

scores

eq: 591  tu:617 ex:623

income 60,000

 


When I was in your shoes I got 'self.'   Know a lot of folks here don't like it but it helped me in the low 500's and I still have the card for age. 
you open a secured w them. Pay monthly.  As you pay the 'loan' off and they report to 3 bureaus, they give you a visa for the amount you've paid.  This helps with a credit mix since you have a card and a 'loan.'  
I started w this and open sky (secured but no credit pulls). I think about 6 months later I got a cap-1 card- bucketed- but I still have it. The closer to 700 the better the cards.  Good luck! 🍀 

June 2020 :October 2022 :
Message 5 of 7
selective
Member

Re: what should my next step be

 


@Suzette2 wrote:

@selective wrote:

been fixing my score the last year from bad choices in 2019 what should my next step be have already

paid all collections and charge offs... 2 charge offs and 1 collections couldn't get deleted from report but all 0 balance and say paid

opened 2 secured cards one with armed forces bank ( 6 months) other with u.s. bank (2 months)(will be doing azeo next report update didn't know u.s. bank post 1st of the month balance instead of statement balance)

opened credit builder loan (9 months)

average age: 5 years

late payments: 3 (from charge offs i couldn't get deleted)

 

scores

eq: 591  tu:617 ex:623

income 60,000

 


When I was in your shoes I got 'self.'   Know a lot of folks here don't like it but it helped me in the low 500's and I still have the card for age. 
you open a secured w them. Pay monthly.  As you pay the 'loan' off and they report to 3 bureaus, they give you a visa for the amount you've paid.  This helps with a credit mix since you have a card and a 'loan.'  
I started w this and open sky (secured but no credit pulls). I think about 6 months later I got a cap-1 card- bucketed- but I still have it. The closer to 700 the better the cards.  Good luck! 🍀 

 

was a fico tu: 477 when i signed up for my credit strong loan 9 months ago


 

Message 6 of 7
selective
Member

Re: what should my next step be

:update:

 

myfico updated eq: 627 tu:629 ex:637

opened discover secured card, and opened a hysa with amex to try and get a relationship started there anything else i should do or just let time take its course

Message 7 of 7
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