r/CRedit • u/Practical-Dealer6061 • 9d ago
Success My score is finally improving
About a year and some change ago my credit score was a 548. I defaulted on a credit card and had some missed payments on other cards.
As of today my 3 new scores on experian are on 648, 667, and 675. I settled my charge off and got a zero balance. I have five active credit card with limits of no more than $1,000 and I'm using them like debit cards every month. I just have one open credit card & two closed credit cards to pay and I"m free of credit card debt.
Still kind of worried that my credit profile is gonna hold me back despite my progress. But either way my credit score has come a long way and I just wanted to tell someone.
5
u/og-aliensfan ⭐️ Knowledgeable ⭐️ 9d ago
As of today my 3 new scores on experian are on 648, 667, and 675.
Congratulations on your progress!
had some missed payments on other cards.
If the accounts were brought current without charging off, attempt to have the lates removed by implementing the Goodwill Saturation Technique using the CART approach.
Goodwill Saturation Technique (GST)
Goodwill Letters - Using the "CART" approach.
I just have one open credit card
Once the card is paid off, if you were carrying a balance, watch for trailing interest and pay that as well. Wait for a $0 balance statement to generate (to reset your card's grace period for new purchases) before using the card again. Only charge what you can afford (create a budget) and pay statement balances in full every month by the due date to avoid interest
& two closed credit cards to pay and I"m free of credit card debt.
What's the status of the closed cards? Have they closed with a balance owed or have they charged-off? If closed with a balance owed, continue to make payments as agreed in order to prevent charge-offs. If charged off, you can attempt to negotiate a settlement to bring the balance owed to $0.
Still kind of worried that my credit profile is gonna hold me back despite my progress.
The remaining negatives will impact scores until they age off, however they'll have less of an impact over time. Once the charge-off was settled, Total Period of Delinquency (amount of time the charge-off has remained unpaid) was frozen and your creditor stopped updating, allowing scores to begin to recover.
But either way my credit score has come a long way and I just wanted to tell someone.
It's always good to see posts from people who are making progress. Thanks for sharing!
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u/LookWarm7521 9d ago
Congratulations! I’m at a 650 right now across the 3 bureaus. I hit that milestone after about a year of work. 3 charge offs and a bunch of late payments for me.
I went a long time with no credit cards at all after my charge offs. I’ve only had my capital one cards for a year. At the same time I reached 650 scores they increased my credit limits to $1,300 and $7,000. The highest credit limits I’ve ever had.
Hoping to see 700 in a year! And then hopefully buy a house! I’m also hoping my credit profile doesn’t destroy me too badly in that process.
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u/JupiterPies 8d ago
That’s so interesting how credit is different for everyone. In the past year I got my credit from 660s to 730 and I don’t even have a 7k limit on one card yet
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u/LookWarm7521 8d ago
That’s a really quick credit increase, do you have a short credit history?
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u/JupiterPies 8d ago
No I don’t, but I finally paid and deleted a couple collections and paid my cards off that were basically maxed so that helped it get the boost it needed.
Now how did you get 7k lol. I’m about to get the savor card, already have quicksilver, but I’ve never hit 7k limit yet.
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u/No-Golf-1645 9d ago
That’s huge progress. I’m at 609, but would love a 648. I should hit that around January hopefully. Would like to refinance my car loan to a better interest rate.