Hello everyone I am looking for any tips or ideas on what else I should be working on right now to improve my credit.
To start my Fico8 scores are as follows: Eq – 573, TU – 564, and Ex – 548. Pretty abysmal I know. I knew it wasn’t pretty, but I had no idea just how bad until my wife and I decided to buy a house at the ripe old age of 40ish. We spent most of our adult lives following me around the Navy.
Anyway I have two things right now marked for collection. An AT&T account in collection with EOS CCA from a long time ago that I recently and unfortunately settled on instead of paying in full. That only shows on my TU and EX reports. The second one I have is a debt with Direct TV that is being collected on by IC Systems Inc that was paid for last week. Hoping to see that one at least go to paid in full over the next few weeks.
I have a repo’d car that shows as no longer in collections but with a balance of $ 6583 to Capital One. I am hoping that I can get that PIF in January or February. I have another car that had a reinstated repo and a few lates. That account is was paid off on time though, but the lates and repo are still there ofcoarse. I have another old car loan from Chase bank that shows as Paid or paying as agreed and the last installment was 2008.
For revolving credit I have two accounts that are closed. The first was from DFS/Webbank in 2009 that I never used, but shows as pays as agreed. The other is Military Star that had a 120 days past due but is currently paid and closed since 2010.
That’s my history and currently I am at 14 months without a late. I have a new car loan from Capital One that is current and no baddies and I also recently applied for and was approved for the Cap1 secured card with a $ 99 deposit that I put an extra $ 100 on to make it a $ 300 limit. My wife is also in a similar situation although she is a bit better off was also approved for a Cap1 secured card with a $ 49 deposit that we added the $ 100 to to make it $ 300. We are both going to make the other an authorized user for our cards and are only going to use it for about $ 10 a month and PIF every month after the statement comes out.
Going foreward I intend to of coarse stay current on everything barring any kind of disaster. I also hope to get the Cap1 repo paid off as much as it is going to hurt to do so. I am also planning on starting a GW letter writting campain hopefully.
If anyone has any ideas of anything else we could both be doing to help bolster our credit that we aren’t already doing or anything you see that could be tweaked I would definately appreciate any and all input.