- Centurion Member
- Posts: 4913
- Joined: Sun May 20, 2012 4:35 pm
- Location: WI
Good work and congratulations.
I don't consider mine a success judging by how I seem to be considered by most lenders, but it is a story and thus I will share.
I defaulted on a number of cards in late 2002. Not interesting in making excuses for why and no one on earth cares anyway, so I'll just say I defaulted and they were charged off. Included were a couple of cards from Chase, a couple of Amex, and a couple of others. I honestly have no idea what my score was then, I didn't even care at the time but I would guess it had to be 400 or so at best. So I can't tell you what it was, but after that happens it's easy to get a rough idea.
The first time I actually checked my credit was after the baddies had fallen off. I'd been paying on my student loans. At that time it was 727 on one and 742 on the other - I believe EQ was the lower of the two. So I'd had a long history of paying installment loans with the student loans and a car I paid off during that time that was recent.
To be totally honest I really should have just left it alone, I would truly have been better off. I have since gotten a car loan that I've paid every payment on time and in full for almost 2 years now. That's fine but as far as credit cards, I truly regret getting any and I wish I had left it alone. I can't seem to and that is to my detriment. I don't charge what I can't pay in full and I pay in full, but that's beside the point. I wish I had left well enough alone and never gotten a card.
Anyway, if you want to talk about "success" I guess one measure would be getting somewhat back in the good graces of Amex as I had 3 of their cards before they accused me of being delinquent on a card I never had and cancelled them. I also got back in with Discover who I'd charged off one card to as well, and Chase gave me a card recently too (haven't received it yet) though it is my lowest limit, but I understand why. I guess those would be "successes" to some degree. In terms of stress, pain in the ***, even credit score I cannot say having these cards has been a success. I've found that I just happen to prefer the simplicity of a debit card. Yet I apply for another card, because of the rewards. Makes zero sense I know.
Anyway don't mind me hope someone gets something out of this they find useful, if anything it's that you can get back in with companies you thought would blacklist you for life, with enough time. Whether that's good, I think the jury is still out on in my mind.