after one year . . .

Discussion in 'Credit Talk' started by dave, May 24, 2001.

  1. dave

    dave Well-Known Member

    In May, 2000, I had five cards--Cap.1, Orchard, Providian, all subprime, one of them secured, with total credit lines of 19.5K and an average APR of 18.5.

    I closed out the two Cap.1s last summer.

    Today, all but the two Orchards and Priovidian are prime with total credit lines of 73K and an average go to APR of 13.7.

    I never expected such a dramatic change. I also owe less on my cards now then I did a year ago and the average APR on balances that are carried month to month is below 10%.

    I also got a new car loan for 8.9.

    This is after rebuilding credit.
  2. Nave

    Nave Well-Known Member

    That is excellent and certainly an inspirational story for those of us still in sub-prime hell. Congratulations Dave.
  3. NanaC

    NanaC Well-Known Member I grow up, I wanna be you! (It's either that or a fire truck) That's excellent news! :) Gives me hope!
  4. Pat

    Pat Well-Known Member

    Thats excellent! Congrats!!

    I've been at it for a little less time. I just have a few left that won't go away, but with great advice from this board, I'll get'em removed.

    I also recently got an 8.9% car loan and will be going for a mortgage on a piece of property I'm putting an offer on tomorrow. I wouldn't have dreamed of even trying a year ago :)
  5. roni

    roni Well-Known Member

    Really after one year?......that is very impressive. We ALL are proud of you.....good work!
  6. Rob

    Rob Active Member

    Hi Dave!

    Excellent Job! I am on my way also, I started last year with a 507 credit score and today it is 682'ish. did you do it yourself or hire a company? I used The Law office of Jack Schould, he got off 60+ items and 15 items off of my wifes reports in a year. Then 3 months went bye and no luck, I just hired lexington the other day to clean up my final two items. WOW! I can't believe I stared last year with over 60 bad entries and then nothing. The internet has changed everything, and has helped me learn all these great secrets, it funny, the other day I was telling a friend about my success and he didn't believe me, said thats impossible and bad credit stays on your credit for 7-10 years, that is what we all learned or was brain washed to believe. I am sure a lot of people on this board must fell this way.

    I am just now starting to get prime stuff, a amex green card came pre-approved with out me asking and now I am going to try for some higher limit prime cards so I can get rid of my providian balances. What was your credit score when you stated last year, please share what you did

  7. dave

    dave Well-Known Member

    I don't know what my credit score was then or now. I had some tax liens that I paid in 99. These are real credit score killers. Besides that, I had the five cards with perfect payment record. The oldest was five years old.

    Otherwise, it was just a domino effect. My Providian line was at about 9K when I got an offer for the Citibank Plat. Then I got the World Aadvantage and ATT Cards. After that I got a preapproval for an MBNA credit line. Then came Nextcard and MBNA Plat. I think I'm finished with applying and may have to drop some of these cards since I can't use all of them.

    One way to increase lines that seems to be effective is to carry a substantial balance and pay it off aggressively. Plus the obvious pay on time and don't go overlimit.
  8. dave

    dave Well-Known Member

    Thank you everyone for your warm compliments.
  9. Hope

    Hope Well-Known Member

    You're the man Dave!


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