The Count Down

Discussion in 'Credit Talk' started by roni, Feb 11, 2001.

  1. roni

    roni Well-Known Member

    Hey guys,
    I sent in my big payoff check to First Premier ($120bucks) heehee!! As soon as it clears they will get THE PHONE CALL! "I am calling to close my account". I can not wait. They are very slow in posting payments though. But this time next week, they will join the pile of cut up cards: Optima secured & FCNB. I am on my way.....BTW: I had the card since 3/00 and got NO, Nada, none- increase in credit line. But they charge me $6/mo to have their sorry card. I used that card only for buying credit reports online.

    roni
     
  2. sam

    sam Well-Known Member

    good work!

    You don't need them anymore after all of your hard work! woohoo.

    isn't it a great feeling to reap the benefits of your hard work? getting rid of your sub sub's who treat folks so bad?

    Others should take note! You won't be stuck with the sub primes forever!!
     
  3. roni

    roni Well-Known Member

    RE: good work!

    I dont think some of the newbies know my story. But many of us here were in the pits of subprime hell this time last year. Banks like Citi and Chase extended a hand and raised us up to some plastic which carried just a little more status. Opening subprimes and paying religiously WORKS!

    Keep the Faith!

    roni
     
  4. rolo

    rolo Well-Known Member

    RE: good work!

    how many cards do u have roni.
     
  5. LKH

    LKH Well-Known Member

    RE: good work!

    As far as using the subprimes for rebuilding I would assume for most people it helps but I don't think it has helped me at all. I have the usual assortment of subprimes, the oldest just about 2 years old. I have a car loan that I just refinanced and 3 student loans. So far after almost 2 years my scores have not improved significantly. I have no lates on any of them and new negatives. I have also had my bk removed from 2 out of 3 reports but still no increase. Any ideas?
     
  6. LKH

    LKH Well-Known Member

    RE: good work!

    I meant no new negatives.
     
  7. roni

    roni Well-Known Member

    grand total : 12

    Ok, lets recap

    4/99-FNBM secured $200(closed 4/00)
    11/99-Cap1 secured $200 raised to $400 now
    3/00- First Premier $350
    4/00-Orchard Bank $300
    4/00-Providian $500 raised to $2800
    4/00- FCNB secured $450 (closed 11/00)
    8/00-Capital one $2000
    8/00-Capital one $200 (closed 11/00)
    8/00-Chase classic $2000
    9/00-Citibank gold $9000
    9/00-Citibank $9000
    9/00-Speigel $400

    That makes 12 cards in my history. I had no other credit except for a charged off discover card due to come off next year -that was from my college days......My credit problems are from defaulted student loans....
     
  8. roni

    roni Well-Known Member

    RE: good work!

    I never had a bk so I can't really compare myself. My equifax and experian went up alot. I was 594 in 4/00 and was at 650ish last month. My transunion dropped due to a judgement from the DMV which still pisses me off. I havenot worked on it's removal yet. This just happended 12/00. I had a new car loan with finance co which may have helped. I also have a line of credit from MBNA. What are your credit line balance ratios. I keep my balances below 15 % at all times possible.

    roni
     
  9. sam

    sam Well-Known Member

    RE: question roni.

    What do you think contributed most to the raise of your score?
    Removal of chargeoffs completely?

    or newly established credit?
     
  10. roni

    roni Well-Known Member

    RE: question roni.

    I would say establishing new credit. Why? Because Equifax still has the original creditors of my student loans listed even though I deleted many of the guarantor agencies. So in other words, I have about 17 negatives on Equifax even though I deleted many (11 student loans reappeared last fall). But my score still rose from 594-653 in 8 months. I added cards and car loan. The loans are marked paid which lowers the debt ratio and they defaulted in 98 so they are getting older everyday. This is with the many credit inquires. Without those my score should rise ( about 30+ inquiries in 6 months).

    Now Experian has all the loans dropped but 2 and 1 other negative(discover) and more score is about the same. Go figure.

    Transunion has 2 loans reported and no other negatives at all besides the new judgement and they dropped me to 560. My score was 625 this last summmer before this appeared in 12/00. That is quite a drop.
    Who can really figure out credit scoring.

    I think Transunion shows that newness of bad debt counts the most against you. I think age of bad credit is the most important factor. I have come to the conclusion that new good accounts and letting bad ones age is the key to score raising. But that is what they have been telling us all along. A good account means you are not late and dont carry a high balance.

    roni
     
  11. Top

    Top Guest

    RE: question roni.

    Roni,

    Where can I apply for citibank gold? I can't find on citibank web page. All I can see only Platinum, AA and etc.

    Thanks
     
  12. roni

    roni Well-Known Member

    RE: question roni.

    ok,
    when you get to website you will click list of cards. then you click the AMerican Airlines WORLD mastercard. Next the full list of AA cards will come up. You will see the reg card and the gold. Do not click the Click cards.
     
  13. LKH

    LKH Well-Known Member

    RE: good work!

    My credit line ratios are very low. I pay every one in full every month - never carry a balance. I just signed up with Junum last week so maybe if they can get rid of the last of the negatives it will go up?
     
  14. Top

    Top Guest

    RE: question roni.

    Thanks! Roni, but Annual Fee $85!
     
  15. Top

    Top Guest

    RE: question roni.

    sorry I mean Annual Fee $50
     
  16. roni

    roni Well-Known Member

    RE: question roni.

    Get it and then upgrade up platinum select the same month when you receive the card. That is how most of us got rid of the annual fee. Upgrading was very easy. Just ask. Good Luck!

    roni
     
  17. Donna

    Donna Well-Known Member

    Good for you! Roni!

    I tell you - canceling that 1st Premier card felt soooo good! What a ripoff that confounded thing is!

    Anyway, let us know when you make the call. I'll be here to help you celebrate.

    Donna
     
  18. Top

    Top Guest

    RE: question roni.

    Thank you so much. Will apply and let you know.

    Thanks again.
     

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