@Anonymous wrote:
I've been trying to clean up my credit for a few years now, making all the rookie mistakes along the way, but I've just about reached the end of my rope. 4-5 years ago I had a score in the 400's. One baddie and no other credit history. Since then I've done secured loans and then got a low CL capitol one card. I now have 5 cards with a total credit limit of 27,500. My scores are TU 691 EQ 696 EX 698. Sounds like a success story, right? Yes and no. I got to the high sixes very quickly, and even broke 700 for a short period, but I can't get any higher. I even lost 7 points on my TU score today for using less than 15% of a cards CL
No you didn't. Something else caused the point loss.
(not sure how that works). I just don't understand how people can be in the 800's a year after starting their journeys with active derogatory marks.
It can't be done; you would need to get rid of the derogatory marks.
My baddie is a charge off set to drop off in about a year.
Send a verification letter to the bureaus; maybe it will be dropped. Maybe not. But doesn't cost much to try.
Is there anything you guys can recommend to help me get over this hurdle?
You don't tell us much. We would need to know your card limits and balances, and whether you have any installment loans and if so the original amounts and the balances. Then maybe we can give recommendations on how to optimize.
I want to buy a car soon and apply for a mortgage in a couple years. I need higher scores to get the best rates. Thanks in advance for your help and for reading through my ranting.
@Anonymous wrote:
Hey guys thanks for all the replies! Sorry I was pretty frustrated when I wrote this and as usual this is simply my error (at least for this current point drop). I had my payment cycle dates mixed up and I paid the balance on my card after it had posted. I now know all my billing cycles end on the 5th of each month. My balances and limits on each card are
Cap one quicksilver - 0 of 8,750
Cap one venture one - 76.84 of 12,000
Citi dbl cash - 93 of 2,300
Chase free unlimited - 0 of 3,500
Charge off (which has been paid) is set to drop off on different dates for the 3 bureaus according to my reports, but around July - August of 2019. I do not have any current installment loans. I want to finance a car but I would like to get my scores up for better rates. Are there letters I can write to get the baddie off early? I attempted early exclusion (very early lol) last week on the TU dispute site but I haven't heard anything back yet.
OK so having 3 cards report zero and 2 reporting small balances is good, so you're optimized there.
You could increase some of your FICO scores, including your FICO Auto 8, by adding a small share secured loan and paying it down to 9% of the loan amount.
What I would do is keep sending 'verification' letters to the credit bureaus about the chargeoff. If the creditor doesn't get back to them, it would be dropped.