Rebuilding my credit- STUCK

QuestionsRebuilding my credit- STUCK
asked 4 years ago

Hey everyone,


Another long time lurker.. first time poster. I’ve always been a little intimidated to post on here but I wanted to share how far I’ve gotten so far and see if anyone could help me figure out how to get further. I feel like I’ve hit a plateau with my progress. 


Back story:


I turned 18 and had no idea what the importance of credit was basically. No reason to elaborate on how I fudged it up. My score was 450 this time last year. Turned 25 this year and decided to buckle down and get my credit fixed.


Spring 2016- Rehabbed my student loans and consolidated them.

October 2016- App for my first credit card in 10 years. I got approved with a $ 49 deposit for a $ 200 limit secured Capital One card. I keep that card below 20% when the balance reports (The last two months I’ve kept it under 6%).

February 2017- App for a Credit One unsecured card and was approved for a $ 300 limit. I keep that one under 10% so far. They just bumped me to a $ 450 limit too. 

February 2017- App for VS card (Not using SCT) and I was approved for $ 250. I’ve applied for this card several times over the years and always been denied. HAPPY DAY!


Since October, I’ve brought my score from a 480 to a 616 by fixing my student loans, keeping my new cards at optimal utilization, and because 7 years went by and several things fell off. CK still shows me at 590, but shows me at 616 so I’m taking that one! lol 


Lately, my score is only going up a couple of points each update. Before it was going up 20-30 points each update. Is it normal to taper off like this or can I do something else? I currently have 4 collections accounts (2 medical bills, an old ATT bill my dad took out in my name, and Dish Network for $ 300 for not returning equipment). I have the Dish equipment in my spare bedroom.. Just never returned it :I .. I also have one public record for a car accident that I didn’t have insurance to cover. 

Collections total about $ 2500 and the public record is about $ 1800. 


I also have THIRTEEN inquiries. (I just bought a car in October and they ran my credit a million times to find someone to approve me at a rate I would pay) My car loan is with Wells Fargo at 11%. 


SO.. sorry for typing so much. I’m just at a loss. I wish my score would go up faster and I’m unsure of the best steps to take next. Should I send PFD letters? DV? Or just start paying them off and then GW letter? Or maybe I should use the SCT to get a few more cards. If anyone has any advice, I would be very very grateful. 

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