Mztwinzs

10 Contributions 91 People Helped Top Contributor

Member Since: March 2016

Most Helpful Contribution

how can i raise my credit score 100 points in 6 months

Aug 06, 2016
Improving Is Possible
Helpful to 47 out of 48 people

In January of this year I decided I would get my credit together with the hopes of purchasing a home within the next 2 years. I have always been able to get car loans with very high interest rates and have managed to always be on time with my payments. I had school loans that were never paid on time due to all the payments combined being over $1000 per month. Credit cards have never been an issue because trufully no one was going to give me one with my credit score. So when I decided to start making changes at the begining of the year I decided to take a chance and applied for a capital one credit card. I really thought I would not be approved but to my surprise I was approved for 2 unsecure cards for $300 each. At that time my score was 560. 

Over the past few months I consolidated my school loans to a more manageable payment. I have used my credit cards responsibly and keeping my utilization under 10%. My capital one cards CL have each been increased to $2300. I now also have a credit one, merrick bank and walmart credit card. All of my bills are on auto pay so that I make sure I don't miss a payment. I have a few things in collections but they are all really old and will be coming off of my report in 6 months-2 years. I have been advised by my future mortgage lender to just let those be.

Yes you heard me right I did say lender. One of my friends in real estate was aware that I have future plans to purchase a home and set me up with one of her trusted lenders. She thought it would be a good idea for us to meet in order for them to pull my credit and set up goals that I can work on to make sure I get the loan when I'm ready. When my score was pulled my middle mortgage score was 643. I was told I can qualify for the loan now but I choose to wait because I want to continue saving and also raise my score more. I was advised to leave the few collection accounts alone and the only thing he wanted me to work on since I'm not buying now is to get my car refinanced. I started working on that after leaving the lenders office. I was real sketipical even still with a 643 about getting approved for a loan. I tried my hand and applied at NFCU (which the lender suggested) and within 15 minutes of applying I received an approval for $23000 :-) My interest rate went from 14.25% to 3%. My payments went down significantly! Between the savings of my car payment, finding cheaper car insurance, lowerig my cell phone and cable bill I am well on my way to reaching my savings goal well ahead of time.

I say all of this to say that making improvements to your credit and score are definitely possible. In only 8 short months I have gone from having poor credit to having decent credit. I was shooting for purchasing a home in 2018 however, that might be happening in early 2017 for me. Come January I will have my mortage score pulled again and if I am at 720 I will move forward in buying. I'm very optimistic that if I continue to do the things that I am doing I can increase my score by 77 points. I will definitely update my progress then.

******I forgot to add that I pulled all 3 of my credit reports at the beginning of the year and did what I see some people paying Lexingtonlaw and places like that do. I disputed things myself. The credit agencies make it easy to do yourself online now. I was able to get MULTIPLE items removed myself and it didn't cost me anything except a little time. The money that I would have used to pay someone else to do the exact same thing I was able to add to my savings and it didn't take long at all. I just added this because I want people to know you can do it yourself and it is not difficult at all.*********

Activity (10 Total Contributions)

how can i raise my credit score 100 points in 6 months

Aug 06, 2016
Improving Is Possible
Helpful to 47 out of 48 people

In January of this year I decided I would get my credit together with the hopes of purchasing a home within the next 2 years. I have always been able to get car loans with very high interest rates and have managed to always be on time with my payments. I had school loans that were never paid on time due to all the payments combined being over $1000 per month. Credit cards have never been an issue because trufully no one was going to give me one with my credit score. So when I decided to start making changes at the begining of the year I decided to take a chance and applied for a capital one credit card. I really thought I would not be approved but to my surprise I was approved for 2 unsecure cards for $300 each. At that time my score was 560. 

Over the past few months I consolidated my school loans to a more manageable payment. I have used my credit cards responsibly and keeping my utilization under 10%. My capital one cards CL have each been increased to $2300. I now also have a credit one, merrick bank and walmart credit card. All of my bills are on auto pay so that I make sure I don't miss a payment. I have a few things in collections but they are all really old and will be coming off of my report in 6 months-2 years. I have been advised by my future mortgage lender to just let those be.

Yes you heard me right I did say lender. One of my friends in real estate was aware that I have future plans to purchase a home and set me up with one of her trusted lenders. She thought it would be a good idea for us to meet in order for them to pull my credit and set up goals that I can work on to make sure I get the loan when I'm ready. When my score was pulled my middle mortgage score was 643. I was told I can qualify for the loan now but I choose to wait because I want to continue saving and also raise my score more. I was advised to leave the few collection accounts alone and the only thing he wanted me to work on since I'm not buying now is to get my car refinanced. I started working on that after leaving the lenders office. I was real sketipical even still with a 643 about getting approved for a loan. I tried my hand and applied at NFCU (which the lender suggested) and within 15 minutes of applying I received an approval for $23000 :-) My interest rate went from 14.25% to 3%. My payments went down significantly! Between the savings of my car payment, finding cheaper car insurance, lowerig my cell phone and cable bill I am well on my way to reaching my savings goal well ahead of time.

I say all of this to say that making improvements to your credit and score are definitely possible. In only 8 short months I have gone from having poor credit to having decent credit. I was shooting for purchasing a home in 2018 however, that might be happening in early 2017 for me. Come January I will have my mortage score pulled again and if I am at 720 I will move forward in buying. I'm very optimistic that if I continue to do the things that I am doing I can increase my score by 77 points. I will definitely update my progress then.

******I forgot to add that I pulled all 3 of my credit reports at the beginning of the year and did what I see some people paying Lexingtonlaw and places like that do. I disputed things myself. The credit agencies make it easy to do yourself online now. I was able to get MULTIPLE items removed myself and it didn't cost me anything except a little time. The money that I would have used to pay someone else to do the exact same thing I was able to add to my savings and it didn't take long at all. I just added this because I want people to know you can do it yourself and it is not difficult at all.*********

Navy Federal Credit Union® Credit Card

Feb 12, 2018
Approved 18 year olds
Helpful to 19 out of 19 people

Over the last 2 years I have carried my daughters on my credit cards as authorized users. November 2017 they turned 18. Today I had them apply for their first credit card with NFCU. Their Fico scores across the board is in the 740's. No collections, no late payments and not much income because they are in their final year of high school. I knew they would be approved because they have good credit. I was just surprised how much they were approved for. Each one got a credit limit of 25k. I know that may seen like a lot for a teenager but for many years I have tried to teach them the importance of good credit and the consequences of bad credit. Navy Federal has been very generous to us and I am glad my girls have them for their first experience with financial responsibility.

Walmart Credit Card

Feb 14, 2017
Another Update
Helpful to 15 out of 16 people

I applied for the Walmart store card on 7/2016.  At the time my score with TU fico was 608.  I was approved with a $500 credit limit. In October I got an automatic increase to $1100. In November I requested another increase and was given an increase to $3000 ( I made multiple requests in $500 increments that day until it maxed out at $3000).  Today I decided since it had been three months since my last increase I would request another credit limit increase. To my surprise it was increased to $6000 ( this time I did multiple request in increments of $1000). Today my TU fico is 703. I don't go by credit karma because according to CK my scores are bad at 618 and 630. I'm not sure what Walmart requirements are for cl increases but I use the card often. I have never had a balance over $600 since having the card. Some months I pay the complete balance off before the end of the billing cycle. At other times I make a couple of payments prior to paying it off. The interest rate is fairly high however, it is not a big deal to me since I don't carry a high balance for a long time. I have actually not paid much in interest since getting the card. Back in November I received a coupon with my statement for 0 interest for 12-24 months on a purchase over $200. I did some holiday shopping and took advantage of that perk. 

Overall this card has been really good to me and I have no complaints. I have never had to call customer service about any issues therefore I can't comment on how their service is. 

Walmart Credit Card

Nov 03, 2016
Works Well For Me
Helpful to 8 out of 8 people

I was approved for the Walmart store card 7/2016. At the time my credit score was 608 with transunion. I was approved with a $500 credit limit.  Over the last 4 months I have requested a cli and always denied. I have made numerous purchases and some months I pay the whole bill and other months I make multiple payments during the month and leave a small amount to accrue interest. I always keep my utilization between 0-10%. After making a purchase this past weekend I log online to pay my $37 balance and notices they automatically increased my limit to $1100! I requested an increase about 3 weeks ago and was denied so I was very surprised to see this today. I don't know what the strategy for them giving increases but I'm going to continue doing things my way since it is working for me right now. 

I have never had to interact with customer service so I haven't had any negative experiences thus far. 

Walmart Credit Card

Nov 14, 2016
Helpful to 1 out of 1 people

UPDATE: Was able to obtain another increase. I went grocery shopping over the weekend at Walmart and paid with my Walmart cc. I logged into my account to pay off the balance but couldn't since it is still pending. Not thinking about it I hit the request increase button and asked for a $500 increased. Approved! Turned around and did another request for $500. Approved! I kid you not I did 4 request and was approved each time. My credit limit is now $3000. As I stated in my previous review I just received a credit limit increase on 11/3/16 from $500-$1100. Now 11 days later I received a nearly $2000 increase. Again not sure what the strategy for increases with this card but I will continue to randomly request increases and hope that it works. Thanks Walmart!!!

Navy Federal Credit Union® Credit Card

Aug 15, 2016
Helpful to 1 out of 2 people

Two weeks ago Navy Federal approved my loan to refinance my car. On Friday I was bored and decided to take my chances to see if I would get approved for a credit card. To my surprise I received an approval response today for nRewards visa. I have a CL of $3000 and an interest rate of 17%. Considering my credit is not great I am ok with this start. They pulled transunion and my score with TU is 643 (now 638 since they did a hard pull). I also have 10 hard inquiries because I have been rebuilding and in order to rebuild you have to apply for credit. I have read NFCU is generous about giving increases so I will see after a few months if this is the case. 

Credit One Bank

Aug 28, 2016
Beggars Can't Be Choosy

I have had the card for 8 months now. I originally applied because I had not so great credit. I was approved for a CL of $300 which was increase after the first month to $450 (I assume I got this increase because I paid the $75 fee before I got my first statement). I haven't dealt with customer service so I can't really comment on that. Yes they have a lot of fee's but all of this was spelled out for me in the beginning. I have paid online with the standard payment option and it has never taken more than 3-4 days for my payment to post and for them to release the funds. I recently tried to request a CLI however I was denied because I have had the account less than a year. I accept that and will re-request at my year mark. I will say if they don't give me a significant increase I will most likely close the account after I purchase a house next year. Yes my credit started off really bad but I have really worked hard to improve it. I have 2 capital one cards with a significant CL, a walmart card with a good CL and recently was approved for a navy federal credit card. 

I'm not going to bash credit one because it has definitely assisted me with the rebuilding of my credit but I don't see myself keeping the card for long if I don't have a big CL. 

Navy Federal Credit Union® Credit Card

Nov 14, 2016

UPDATE: I was approved for the nRewards card back in August. I read several reviews saying Navy Federal tends to give CLI after 90 days. I applied once before the 90 days and got the will be notified within 24 hours message. As suggested I called and cancelled the transaction so that I didn't receive a hard pull on my credit. Today I log on and decide to request the CLI since I am at the 90 day mark and to my surprise I requested $4000 and they gave it me. Disappointed I decided to request another limit (not thinking it would allow it). To my surprise I was allowed to and this time I asked for the maximum. They increased it to $10,000! I am a happy camper. I have been using the card to to pay all of my recurrent bills and then I pay it off in full. On occasions I leave a small balance to accrue interest. I have earned rewards fairly fast and payments usually post the next day. For having this card such a short amount of time Navy Federal has been extremely generous. As suggested by other reviews I will request another CLI in 90 days until I max out at $25,000.

Consolidating student loans

Aug 06, 2016

I had no idea until know on how to find if someoe ever responded to my post. Thank you for your response and this is very helpful infomation!

credit scores vs credit karma scores

Sep 23, 2016
Late Payment Affect on Scores
Helpful to 0 out of 1 people

I have 14 negative items listed on my reports. They are all from student loans that I fell behind on before consolidating them. Before consolidating my payments were really high and for awhile I had issues paying.  It has been almost 2 years since these accounts were reported late. I know that this will show up on my reports for 7 years however, everything I read says it doesn't have as much affect on your score the older it is. My question is how long will this continue to have a big affect on my credit score?

Btw all of the negative items are for 90 day late payments. I'm not sure if that makes a difference but just in case.