trying to move forward

For just about anything you want to get off your chest about credit cards.
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ficosontheritz
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trying to move forward

Postby ficosontheritz » Sun Dec 21, 2014 4:49 pm

New to the forum, thanks for having me!

I went through a very rough time in 2008 due to medical bills. Lost a house, tanked cc ' (lived on them for 1 yr). And ended up with a foreclosure (completed in 09) and a few charged off cards.

Pulled myself up from my boot straps, got to work cleaning it all up. Made some agreements, settled on a few, told a few to take a hike ( they were very rude in their collection, and while I was trying to work with them and make payments, they felt the need to berate and brow beat me constantly).
I opened a credit union account right after the problem and filtered all my money through it. I financed a car at an outrageous interest rate, was able to refinance it with the credit union at a much better rate after 18 mos. Got a couple ditch diver CC's and used them a little each month and paid them off. Credit Union gave me a 500 credit line so I rolled with the 2 crappy cards, and the CU CC. 1 year ago I got a capitol one platinum with a toy CL of a measley 300. So I had those 4. After being urged by a friend I called on a Navy fed Cc. Was approved (I couldn't believe it) for a 6k signature rewards card.
The other day I had an offer for another capitol one quicksilver, which gave me 500 and a usaa that was just a basic 1000 visa. Somewhere peppered in there I got a walmart store card for 700.

I am on 0% for 12 mos on navy fed, and will carry a small balance for the next few months (yeah I know I should pay in full). And the others are paid off before the interest accrues. I use them for cable on one power on another and so on.

Closed the crap cards this past Thursday (that felt good)! The person on the phone was a jerk to me about it.

So here is my list:
CU CC. 500
Cap one plat. 300
Cap one quicksilver 500
Walmart 700
USAA 1000
Navy fed 6000
Balance on navy fed 1400 others 0

I am still working on credit and am currently in the mid 6's. Cannot get limits up due to the second mortgage from my home I lost got a judgment for 30k I am still paying. But am trying to round out my credit wallet. Any suggestions from the forum?


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CarefulBuilder14
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Postby CarefulBuilder14 » Sun Dec 21, 2014 9:17 pm

With everything you have going on credit-wise, there may be some things you need to see a credit counselor about. So this advice is very limited in scope.

I wouldn't open any more cards for a bit. A $6k Navy Fed rewards card is pretty good for the negative marks from your past that are still showing. Once some more of your negative marks age or fall off and the judgment ends, the history you build with the $6k card will make it easier to get better rewards, limits, and APRs.
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card

ficosontheritz
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Location: florida panhandle

Postby ficosontheritz » Sun Dec 21, 2014 9:52 pm

I have cleaned up what I can. I was able to square most of it up , some things have been paid. Most have fallen off. Last year I financed a vehicle for 2.88%. I am not in a need for credit, just trying to get into a mortgage soon.

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CarefulBuilder14
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Postby CarefulBuilder14 » Sun Dec 21, 2014 10:37 pm

What are your FICOs? Your 'baddies' are getting old, but you still have a number of them and they are substantial ones. Getting a mortgage with good terms could be difficult.
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card

ficosontheritz
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Posts: 4
Joined: Fri Dec 19, 2014 2:19 pm
Location: florida panhandle

Postby ficosontheritz » Sun Dec 21, 2014 11:08 pm

Mid 6's from 630 to 670. Only have 2 unpaid collections left. Soon to be off, 3 paid collections that don't have long either. And the judgement. Lots of good long term accounts open with no baddies, all recent.

ingramjuan
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Postby ingramjuan » Sun Dec 21, 2014 11:50 pm

Looks like you are moving forward. Agreed with a pervious thread to hold off on getting additional credit cards. Good Luck!
CARDS:
Capital One Platinum (2001) |Capital One QuickSilver World (2002) | Amex Gold Delta (2013) | Best Buy Visa (2013) |Discover It (2015) | Amex Platinum (2015)

Gardening Since: June, 2015

Next Cards:
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Business: Amex Plum
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takeshi
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Postby takeshi » Mon Dec 22, 2014 8:07 am

ficosontheritz wrote:Any suggestions from the forum?

Derogs tend to have the biggest impact. Effect does taper a bit over time but as long as you have them they will affect your odds. If you qualified for 2.88% on auto that's a bit of a positive sign.

ficosontheritz wrote:I am not in a need for credit, just trying to get into a mortgage soon.

How soon? General advice is no new credit 6 months to 1 year prior.

That really just leaves you with managing revolving utilization (do not exceed 30%) and optimizing (only one balance reporting at 10% or less) just prior to your mortgage. However, it looks like your utilization is in check.

ficosontheritz wrote:After being urged by a friend I called on a Navy fed Cc. Was approved (I couldn't believe it) for a 6k signature rewards card.

NFCU is more lax with approvals and limits which is why they're frequently recommended for those that are eligible for membership.



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