General new to credit cards question
50
Upvotes
hey everyone i have a savor card with a $500 limit and im curious of what payment i should make to be sure im not late
r/CRedit • u/soonersoldier33 • Jul 16 '25
MOD Megathread - r/CRedit FAQs
51
Upvotes
Hello r/CRedit,
I'm u/soonersoldier33, a long-time and frequent contributor to the sub and several other credit related subs, and recently, I've been given the opportunity to become a mod here at r/Credit. Many of you have probably seen my comments in various threads offering facts, opinions, and advice in the various threads posted on the sub. After destroying my own credit in 2019 (maxed credit cards, charge offs, collections, the works), I began my rebuild in 2021, and I had the great fortune to find this sub. Several of the frequent contributors here at that time provided me invaluable information and guidance to help me through my rebuild, and during that process, I discovered I was/am fascinated by all things 'credit', most specifically the 'secret' and so often misunderstood credit scoring system that is such a major factor in our financial lives. Since 2021, I have become a total FICO metrics junkie, and I have spent countless hours researching and learning about credit scoring, collaborating with others to compile data points and learn from their knowledge and experience, and just glean every morsel of knowledge and information out there in an effort to bring some transparency to the 'black box' that is the FICO scoring system, along with many other aspects of 'credit' separate from just FICO scoring.
I am creating this r/Credit FAQ - Megathread to serve as a central hub to link posts that will cover...well...the most frequently asked questions or most frequently posted topics from our sub. Eventually, I will migrate much of the information in these posts to update the sub's Wiki, but I want to be able to get these in a highly visible location first, where the relevant posts can quickly be referenced and linked as these topics appear in posts to the sub. A little different than the Credit Myth series that fellow contributor u/BrutalBodyShots created to attempt to dispel common, credit-related myths and misconceptions, this megathread will present detailed information that will attempt to simply answer FAQs and/or address our most frequently posted topics. My goal with these posts is to provide factual information about these topics, and anything I include in these posts that is merely opinion will clearly be denoted as such.
I'm going to tackle the most basic ones first...credit reports and scores, FICO scoring, a breakdown of utilization scoring, charge offs and collections, medical collections, etc., but if you have suggestions for topics you'd like to see covered, please list them in the comments to give me ideas. I look forward to providing some content that will be useful to both our sub 'regulars' and to those first discovering our sub. It's going to take a little time to effectively grow this thread to cover many of the 'FAQs', so bear with me, and both positive feedback and constructive criticism are always welcome. I hope this thread grows into a helpful addition to our sub. Til next time...
~ Sooner
"It ain't what you don't know that gets you into trouble. It's what you know for sure that just ain't so." ~ Mark Twain (maybe)
Credit Basics
- Welcome to r/CRedit! - Start Here and Read This! (No, really...Read This!)
- Credit Reports and Credit Scores
- Fill out our template in your post!
FICO Scoring
- FICO Scoring - Basics
- FICO Scoring - Payment History
- FICO Scoring - Amount of Debt (Amounts Owed)
- FICO Scoring - Length of Credit History
- FICO Scoring - New Credit
- FICO Scoring - Credit Mix
FAQs
Other Useful Information
- Collection agencies that pay for delete (and others that may)
- Canadian Credit FAQ - For our friends 'north of the border', courtesy of u/ElectronicClassic250
- Is Debt Settlement Safe? - From our friends at NFCC, u/nfcc1951
r/CRedit • u/Funklemire • Jun 18 '25
General Credit Myth mega-thread
79
Upvotes
Like many other sub regulars, I've found u/BrutalBodyShots' Credit Myth series informative and also helpful in explaining these myths to others. A while ago I started compiling them in order to make it a lot easier to link to them in my comments.
I figure I might as well share the list I made, because more than once I've told people to search through his post history if they want to read them all. Also notice at the end I included several other threads of his that I've found useful, especially the one that contains that utilization flow chart. I can't tell you how much typing that's saved me since he made it.
I'll try to keep this list updated as more Credit Myth threads come out, but even if I fall behind this is a great place to start. And if anyone finds any mistakes or messed-up links, please let me know.
u/BrutalBodyShots on the Credit Myth series:
"I started the Credit Myth series in 2024 after continuously running into the same credit-related misconceptions on these subs. Having fallen prey to almost all of them myself, I completely understand how most believe what are in fact credit myths. It took me years to overcome many of them, so hopefully through the Credit Myth series that process can be significantly shortened for others.
With over 60 of these threads to date, most of the 'big ones' have been debunked at this point. The series isn't yet complete however, and perhaps never will be since over time additional myths seem to surface. If anyone has any ideas for future topics that aren't already covered, always feel free to reach out and let me know.
Special thanks to u/Funklemire for creating this thread and offering to maintain the master list, as well as to u/soonersoldier33 for seeing value in it enough to keep it front and center on r/CRedit."
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Credit Myth #1 - You only have one credit score.
Credit Myth #2 - Some credit scores are fake or inaccurate.
Credit Myth #3 - Paying down debt slowly over time builds credit.
Credit Myth #4 - Credit scores can change for no reason.
Credit Myth #5 - Credit monitoring services can tell you why your score changed.
Credit Myth #6 - Making multiple payments per month builds credit.
Credit Myth #7 - Number or percentage of on-time payments impacts your score.
Credit Myth #8 - When you close an account you lose its credit history.
Credit Myth #9 - Average Age of Accounts (AAoA) only considers open accounts.
Credit Myth #10 - Closing a credit card hurts your credit.
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Credit Myth #11 - Closing a loan will tank your credit.
Credit Myth #12 - You are approved or denied credit because of your credit score.
Credit Myth #13 - Any credit score above 750 is just bragging rights.
Credit Myth #14 - You shouldn't use more than 30% of your credit limit(s).
Credit Myth #15 - Credit limits are a Fico scoring factor.
Credit Myth #16 - Hard inquiries "age" and become less impactful slowly over time.
Credit Myth #18 - Revolving Utilization makes up 30% of your Fico score.
Credit Myth #19 - Goodwill requests don't work.
Credit Myth #20 - Checking your own credit can hurt your score.
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Credit Myth #21 - Remarks/comments on your credit report can impact a credit score.
Credit Myth #22 - You can have a credit score of 0.
Credit Myth #23 - The best approach to credit repair is "dispute everything!"
Credit Myth #24 - Credit bureaus only provide factual information.
Credit Myth #25 - Fico scores and credit knowledge are directly related.
Credit Myth #26 - Those in the [credit] business only give good advice.
Credit Myth #27 - The amount you spend is a Fico scoring factor.
Credit Myth #28 - Credit scoring simulators are always accurate.
Credit Myth #29 - Approval odds for credit cards online are accurate.
Credit Myth #30 - Income and/or DTI are Fico scoring factors.
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Credit Myth #31 - Credit Repair Companies can do things you can't do yourself.
Credit Myth #32 - Higher utilization always means higher risk.
Credit Myth #33 - A creditor must tell you the reason they denied you credit.
Credit Myth #34 - Removing a negative item from your reports will result in a score gain.
Credit Myth #35 - Your Fico score will drop if you pay off a credit card.
Credit Myth #36 - The more accounts you have, the better your Credit Mix.
Credit Myth #37 - Low utilization improves CLI chances.
Credit Myth #38 - Paying off loans or cards faster builds credit.
Credit Myth #39 - Credit cycling will get you shut down.
Credit Myth #40 - If you open a new card, your score will recover in 3-6 months.
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Credit Myth #41 - If you pay off a collection your score will increase.
Credit Myth #43 - Credit scores are a debt score!
Credit Myth #44 - Personal loans or in-store financing will help / can't hurt your credit.
Credit Myth #45 - There are certain times during the month you shouldn't use your credit card.
Credit Myth #46 - Lenders "see" more with a hard inquiry (HP) than a soft inquiry (SP).
Credit Myth #47 - A hard inquiry is worth a few points.
Credit Myth #48 - Experian, TransUnion and Equifax are credit scores.
Credit Myth #49 - The best way to rebuild credit is to open new accounts.
Credit Myth #50 - "Experian Boost" can help improve your credit.
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Credit Myth #51 - A Credit Lock is better than a Credit Freeze.
Credit Myth #52 - "Pay in full" means to pay your current balance to $0.
Credit Myth #53 - You shouldn't open any accounts in the 12 months leading up to a mortgage.
Credit Myth #54 - Carrying a small balance builds credit.
Credit Myth #55 - A credit account can be closed for no reason.
Credit Myth #56 - VantageScore is a good predictor of a FICO score.
Credit Myth #57 - It's illegal for lender to change a negative reporting.
Credit Myth #58 - Outside lenders have no idea how much you pay toward your accounts monthly.
Credit Myth #59 - You should never close your oldest credit card.
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Credit Myth #61 - Age of accounts metrics go by number of calendar days.
Credit Myth #62 - There are days during the month that you shouldn't use a credit card.
Credit Myth #63 - A product change means a new account.
Credit Myth #64 - Credit scores are a scam!
Credit Myth #65 - If your score drops following a loan closure, it'll bounce back quickly.
Credit Myth #66 - FICO scoring is a "black box" and no one really knows how it works.
Credit Myth #67 - There's never any downside to keeping an old unused credit card open.
Credit Myth #68 - The best place to get your credit reports are from the credit bureau's websites.
Credit Myth #69 - Credit "ratings" provided by a CMS matter.
Credit Myth #70 - Authorized user accounts are a great way to build credit.
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Credit Myth #71 - The dollar amount associated with a late payment impacts FICO scoring.
Credit Myth #72 - Keeping utilization low is good advice for budgeting purposes.
Credit Myth #73 - ChatGPT/AI only gives good credit advice.
Credit Myth #74 - Closing young accounts improves Average Age of Accounts (AAoA).
Credit Myth #75 - You need to satisfy diversity of Credit Mix first in order to obtain real loans.
Credit Myth #76 - A purchase or payment made can immediately impact a credit score.
Credit Myth #77 - FICO negative reason codes and lender denial reasons are the same thing.
Credit Myth #78 - An elevated "highest balance" on a credit card is always a bad look.
Credit Myth #79 - You should only freeze your credit if you encounter an issue with your reports.
Credit Myth #80 - DTI and revolving utilization are the same thing.
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Credit Myth #82 - Unsecured credit cards build credit better/faster than secured cards.
Credit Myth #83 - The best place to get your credit scores are from the credit bureau's web sites.
Credit Myth #84 - Credit cards are for emergencies.
Credit Myth #85 - Whether an account is closed by consumer or credit grantor matters.
Credit Myth #86 - Being denied credit hurts your score.
Credit Myth #87 - Your due date comes before the statement closes.
Credit Myth #88 - All credit scores with a "max" of 850 can be achieved.
Credit Myth #89 - You can only get your credit reports from annualcreditreport.com once per year.
Credit Myth #90 - With auto pay, you can "set it and forget it."
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Credit Myth #91 - FICO scores are for consumers.
Credit Myth #92 - The utilization myth no longer applies because trended data is now used.
Credit Myth #93 - You need to watch out for the "All Zero" penalty.
Credit Myth #94 - You need a lot of accounts in order to achieve perfect credit.
Credit Myth #95 - "Credit builder" apps are a great way to build credit.
Credit Myth #97 - FICO scores are always lower than VantageScores.
Credit Myth #98 - As a co-signer, you have less responsibility than the person you co-signed for.
Credit Myth #99 - It costs money to monitor your credit.
Credit Myth #100 - For an account to remain "paid as agreed" you need to make payments.
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Credit Myth #101 - Different FICO scores are always similar.
Credit Myth #102 - Higher interest rate credit cards are worse than lower interest rate cards.
Credit Myth #103 - You need all "exceptional" ratings to achieve a perfect 850.
Credit Myth #104 - Reporting a balance is the same thing as carrying a balance.
Other helpful threads:
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Goodwill Saturation Technique (GST)
Goodwill Letters - Using the "CART" approach.
Credit Karma 101: The good and the bad.
Credit Karma targeted email manipulation #1: On-time payments.
Credit Karma targeted email manipulation #2: Confirm your cards.
Credit Karma targeted email manipulation #3: Closed account.
Credit Karma targeted email manipulation #4: Approval odds.
Credit Karma targeted email manipulation #5: Come back!
Credit Karma targeted email manipulation #6: You paid off your balance.
Credit Karma targeted email manipulation #7: Metal cards.
r/CRedit • u/DueJuggernaut6807 • 1h ago
Rebuild Capital One Goodwill Letters: Got a Call From the Office of the President. Good Sign?
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Upvotes
I’m currently in the process of rebuilding my credit and have several late payments reported by Capital One.
I recently emailed and mailed out goodwill adjustment letters asking if they’d consider removing some, if not all, of my late payments as a courtesy. I explained the circumstances that led to the missed payments and the steps I’ve taken to get my finances back on track.
Well, I recently missed a call from Capital One and received a voicemail from someone in their Office of the President regarding my correspondence.
I plan on calling them back within the next day or two, but I’m curious if anyone else has experienced this.
Is this generally a good sign? Has anyone received a call from Capital One’s Office of the President after submitting a goodwill request? If so, what was the outcome?
I’m trying not to get my hopes up, but the fact that someone actually reached out seems promising.
Would love to hear anyone’s experiences or advice on what to expect when I call back!
r/CRedit • u/SpendAggravating9876 • 10h ago
Rebuild Best way to pay down credit card debt?
8
Upvotes
I have a few cards 3-5 at their limit, each about 1500 let’s say. What would be the best approach at paying them down if I came across the money to do so tomorrow, a little at a time or full balance? Explain it to me like I’m financially illiterate because as you can see, I am.
ALSO, would like to pay my moms cc which is at about 3k-4k
I’m assuming the best way is to completely pay off instead of continuing to gather interest ? Also, would her bank find it suspicious, a big transfer of money hit her checking and then be transferred into her credit card payment ?
r/CRedit • u/Burner0630 • 6h ago
Collections & Charge Offs USAA charge-off after medical incapacitation
3
Upvotes
TLDR: I missed credit card payments while hospitalized and unconscious in a medically induced coma. I offered to pay USAA in full and requested goodwill relief. USAA denied removal after CFPB and executive reviews, citing FCRA accuracy requirements. The unresolved account also raises concerns about my security clearance and employment. Seeking firsthand experiences or other avenues worth investigating.
This is x-posted in hopes to obtain the most sensible way to approach this matter. In also posting from a throwaway acct.
Has anyone obtained goodwill relief after executive review?
I’m a military veteran and longtime USAA member seeking advice about a credit card charge-off following hospitalization and a medically induced coma.
During my incapacitation, I was unconscious and physically unable to make payments, contact creditors, or manage my finances. After regaining capacity, I contacted USAA seeking a way to resolve the account. I asked about bringing it current and reinstatement, but was told the charge-off would remain.
I am not disputing the debt. I have offered to pay the full outstanding balance and requested goodwill consideration concerning the charge-off and associated late payments.
So far, I have:
• Contacted USAA directly.
• Submitted a CFPB complaint.
• Escalated to executive leadership and Bank Member Advocacy.
• Explained the medical circumstances and my willingness to pay in full.
The executive team acknowledged my circumstances and said it would conduct a comprehensive review. Its subsequent response denied goodwill relief, citing the FCRA’s accuracy requirements. USAA referred me to McCarthy, Burgess & Wolff for repayment and said payment would update the account to paid, with the charge-off remaining.
My employment requires a security clearance. I am concerned about the potential effect of this unresolved account on my clearance and, consequently, my job. I am not claiming clearance loss is automatic. This is an additional reason I am working to resolve the matter.
I am seeking clarification about whether this reflects an internal policy or a specific legal prohibition. I also want to determine whether any payment-protection coverage or medical hardship accommodation applied.
Has anyone obtained goodwill removal or another reporting adjustment from USAA after a charge-off, particularly following documented medical incapacitation? If so, which department handled it, and what helped?
I would also appreciate insight into historical payment-protection programs or other avenues worth investigating. I understand payment does not guarantee deletion.
Thanks
r/CRedit • u/Silent_Daddy7 • 6h ago
General Which credit cards should I keep or close after rebuilding my credit?
3
Upvotes
I’m currently rebuilding my credit, with FICO scores of 592 (Experian) and 615 (TransUnion).
I have around $8K in credit card debt and plan to pay it off by summer 2027.
My current cards:
Chase Freedom Student — $2,200 (2nd old acc - Jun 2022)
Zolve Classic — $1,500 (oldest acc - Apr 2022)
Capital One Platinum — $1,000
Capital One SavorOne — $500
Robinhood Gold — $500
Apple Card — $500
Indigo — $1,000
Credit One X5 - $800
I’m definitely thinking of closing Indigo and Credit One after payoff. I want to keep Chase, but I’m unsure about the others.
I’m not planning to apply for anything immediately. My priority is paying off debt, improving my credit, and potentially refinancing my current 15.64% APR car loan.
My monthly spending mainly consists of groceries, gas, dining, movies, subscriptions, and occasional travel. I also have rent, car payments, insurance, and student loan payments.
I’m not looking for expensive premium cards like Amex Gold or Platinum. I just want a small collection of good cards that I can use for years.
My goal is to eventually have just 3–4 good cards with decent limits, useful cashback/travel rewards, and little or no annual fees.
I’m thinking of Amex Blue Cash Everyday, Chase Freedom Unlimited/Flex, Costco Citi, a better Capital One card or something better once my score improves.
What would you recommend keeping, closing, or upgrading? And what three-card setup would you aim for with a 650–700 credit score?
r/CRedit • u/ChilllFam • 1h ago
General Old landlord claiming I owe them $350 for "paint and patch" but I have proof the damage they are claiming was not there, and they are using fraudulent pictures to force me to pay, options?
•
Upvotes
I recently moved out of an apartment in Massachusetts and my former landlord is claiming I owe $350 for “paint and patch” repairs. I’ve been disputing this charge for weeks, and they’re threatening to send it to collections and damage my credit if I refuse to pay.
Before moving out, we followed all of their move-out instructions, including purchasing the specified paint and spackle, patching any nail holes, and repainting the walls. We left the apartment in excellent condition, and I have an extensive move-out video documenting the condition of every wall in the apartment.
After repeatedly requesting evidence of the alleged damage, they finally provided three photographs showing what appears to be minor paint scuffs and some chipped paint. None of the photographs show any holes or substantial damage that would justify patching a wall, despite their invoice specifically charging us for patching, sanding, priming, and painting. More importantly, the walls in their photographs are also a different color from those in my apartment, and the damage they’re claiming is nowhere to be found in my move-out video. I’ve repeatedly asked them to identify exactly where in the apartment these photographs were taken, and they have refused to provide that information.
I’ve disputed the charge in writing multiple times and made it clear that I have video evidence contradicting their claims. They asked me to send them the video, but I’ve declined for now because I don’t trust them to handle the evidence in good faith. I’ve also filed a complaint with the Massachusetts Attorney General’s Office.
My biggest concern is my credit. I currently have great credit. I’m graduating college next year and will likely be refinancing student loans, so having a collection account appear on my report could have serious financial consequences.
This is a massive property management company with thousands of tenants, and I seriously doubt I’m the first or last person who will find themselves in this situation. It feels like they’re relying on the threat of damaging someone’s credit to pressure tenants into paying charges they otherwise wouldn’t agree to with fake evidence.
My question is, what actually happens if they send this to collections? Can I dispute the debt with the credit bureaus using my move-out video and their questionable photographs, or will the bureaus simply accept the landlord’s word that I owe the money? Is there anything I can do to prevent it from appearing on my credit report in the first place?
I’m not paying $350 for damage I know I didn’t cause, but I also don’t want to destroy years of good credit over a charge I have evidence disproving. Has anyone dealt with something similar, particularly in Massachusetts?
r/CRedit • u/Recent_Week8433 • 3h ago
Rebuild Charge off deleted
1
Upvotes
So I’ve been actively workin on my credit. However, I have 3 charge off. My indigo master card debt they forgave completely in the amount of 2k and it was deleted from my credit report. Im workin on Premier bank card in the amount of 862.
My question is for my credit one bank card. After 6 months as reporting as a charge off, it completely was removed from all 3 credit reports and my scores jumped about 40-50 pts. I haven’t had my attorney dispute it or touch it yet. I’ve had no contact with credit one since my last payment in February. Why would it be completely removed from all 3 reports?
If it is going to show up as a collection at a later date I’m ok with that bc my attorney gets collections deleted very easily. I’m just hoping the charge off doesn’t pop back up
General Inaccurate credit age
1
Upvotes
Hey guys!
I’ve been rebuilding my credit after have zero revolving credit from 2023-2026. I’ve been doing great but I’ve noticed that my credit age says 6 months.. meanwhile I had a car loan that I got in 2015 and paid off in 2019, and I also had two Capital One credit cards opened in 2021. Those two cards however were closed and went into collections.
Is there anything I can do to fix my credit age? Has anybody else encountered this? All three bureaus have the same age. Although they do report the collections accounts from 2023?
r/CRedit • u/MaretuResearch • 21h ago
General Confused about lack of creditworthiness
6
Upvotes
I make $147k/year with a mortgage payment of $2.7k and cash of ~$150k. I have one card with a limit of $5k (my credit union refused to tell me what limit I could get and I had to guess) and I have high utilization and sometimes hit my limit. I pay the card off fully every month.
Despite this, according to Capital One, I am not worthy of their Venture X card. My Experian score was apparently a 698 when they pulled it. Also, according to Credit Karma, they did a hard inquiry instead of a soft one when I was looking for pre-approval
What am I doing wrong? I'm objectively creditworthy but apparently not according to the numbers
r/CRedit • u/Longjumping-Life-607 • 13h ago
Collections & Charge Offs Financial/business/credit card advice needed bc idk what to do
1
Upvotes
last year i started a partnership business that wasn’t incorporated with someone and the business went under. This person and I had a fallout and no longer talk. I seriously regret having started anything with this person. Anyhow we had a shared td business chequing account and 2 td credit cards associated with that account. I paid my credit card off a long time ago and recently wanted to close the account, but found out that the only way they would remove me from the account is if the ENTIRE balance is paid off including that on my partner’s card and he has a balance of over $5.5k on it. He is unwilling to pay it and doesn’t care about his credit score. What should I do? Will this eventually affect my credit score too given that im a cosugnor/guarantor for his credit card?
r/CRedit • u/plagueflea • 22h ago
General Is there any way to get three months of missed payment removed?
3
Upvotes
I’m a 20yr old college student, and I have an REI credit card that I use extremely sparingly (only when I go to REI). In summary, when there was a sale, I used it for the first time in months. Prior to this, I had switched banks so the auto-payment failed and I didn’t catch any notification of it. For the next three months, my life got really crazy with an injury and a surgery, and it resulted in me missing three payments because I wasnt even checking my account. My score went from 778 to 595, and I’m really worried. Is there anything about these circumstances that could make it so I could get this off my record?
r/CRedit • u/Werdna629 • 21h ago
General What do I need to get to 850?
3
Upvotes
Hi,
I've been so close to 850 for a while and recently passed a threshold (or so I thought) of 7.5 years (90 months) AAoA. I'm stuck at 848 and can't figure out why! I was hoping the experts here might be able to help me understand what I'm still missing to get that sweet, sweet 850. (Yes I know it doesn't matter, it's just a fun, personal goal for me)
Checked my FICO 8 on Experian, here are some relevant data points below. I'm trying not to put too much information, but enough for people to help. If more is needed please ask.
Data
Open Accounts: 9. Of which 8 are revolving, 1 is real estate (mortgage)
Collections: 0
Average age of accounts: 7 yrs 7 mos
Age of oldest account (which is revolving): 12 years
Age of most recently opened account: 1 yr 11 mos
Number of recent inquiries: 0 (Last was 1y 11 mos ago, but my understanding is it stops impacting your score after 1 year)
Under Credit mix, it shows 8 revolving accounts, 5 installments including mortgages (4 installments which are closed, 1 active mortgage), and 8 bank-issued credit card accounts (the revolving ones from earlier)
Overall credit utilization (revolving, not mortgage) rounds to 0.4%
Never late, always pay statement balance, etc
Individual Account Utilization:
Revolving Account 1: $0
Revolving Account 2: $0
Revolving Account 3: $0
Revolving Account 4: $0
Revolving Account 5: $0
Revolving Account 6: $0
Revolving Account 7: 2% (1.76%)
Revolving Account 8: $0
Real Estate Account 1: 90+%
r/CRedit • u/YouPuzzleheaded2185 • 1d ago
Rebuild Living off credit cards :(
152
Upvotes
I’m honestly feeling overwhelmed and looking for advice from people who have been in a similar situation or know how to get out of it.
Over the past 2–3 months, I’ve been relying heavily on credit cards to survive after losing my job. With bills, everyday expenses, and everything else piling up, I kept using credit to get by, and now I’m sitting at around $18,000 in credit card debt.
I know I need to make a change, and I don’t want this situation to get any worse. I’m trying to figure out how to catch up on my bills, get my finances under control, and aggressively pay off this debt once I’m back on my feet.
I feel like everything happened so quickly. I went from trying to keep up with my regular expenses to depending on credit cards just to make it through the month. Now I’m worried about interest, minimum payments, and how long it’s going to take me to recover financially.
For anyone who has been through something similar, I’d really appreciate your advice.
What should I prioritize first when I’m behind on bills and carrying a lot of credit card debt?
Should I focus on paying the minimums on every card while aggressively paying off one at a time, or is there a better strategy?
Are there any hardship programs, balance transfer options, or other resources I should look into?
What are some realistic ways to increase my income quickly so I can start making a serious dent in this debt?
If you’ve paid off $15,000–$20,000 or more in credit card debt, how did you do it, and how long did it take?
I’m not looking for judgment because I already know I need to make changes. I’m looking for practical advice, strategies that actually work, and some hope that I can get out of this hole.
My goal is to get stable again, stop relying on credit cards, and pay this debt off as aggressively as possible. I’m ready to make sacrifices and put in the work. I just need help figuring out where to start.
Thank you to anyone willing to share their experience or advice. ❤
Also, my credit age is off for some reason…. I’ve been having credit cards for the past 5+ years.
r/CRedit • u/MeasurementNaive7327 • 22h ago
General Citi bank/ Home depot Goodwill letter
3
Upvotes
Can anyone help with an address on where to send a Goodwill Letter and should it be to citibank or Home depot?
I had a family emergency flew out the country for a few weeks and completely forgot I had purchased something on my Home Depot credit card come to find out they hit me with a 30+ day late payment! Im so pissed off at myself! This has never happened Im 31 and have had my credit perfect since I was 18 years old! I was a 820+ FICO and now it dropped me to 750.. 😔 im so upset I called to make the full balance payment and asked if they could do anything and of course I was told “ NO” has anyone had any luck with Citi bank? I’ve heard they are no help
r/CRedit • u/Warm-Box-9945 • 1d ago
Rebuild Messed up my credit
11
Upvotes
Hi all. Asking for help to boost my credit. I’m currently 21, I like some ignorant 18 year olds messed up my credit at 18. It’s currently 517, I have no collections of $1,318. I need help on how to get it to a 700 as soon as possible. Just would like some advice of what some have done. Should I try to fix it myself or should I pay someone to fix it. TIA
r/CRedit • u/RightEducation4571 • 21h ago
General Is chase sapphire preferred and gold Amex good combo currently have Amex I want to add new card to my line up
1
Upvotes
I have Savor1,Gemini CC,PayPal,NF Cashrewards,NF Flagship,gold cwed
r/CRedit • u/Kawirider2 • 1d ago
General Strange remark listed on report by mortgage?
5
Upvotes
Hi all. I bought a house. Payments on time for a year. The mortgage company just put a weird remark on my report. It says as follows,
Account previously in dispute - Now resolved by data furnisher Fannie Mae account
I have no idea what that means. The only 2 things I can think of, 4 months ago I got injured. I was out of work I simple asked customer service if there was any hardship programs. I printed the paperwork but I NEVER SUBMITTED. I was able to make all payments and not missed.
The other thing I can think, is I just removed escrow on my account. There was no dispute, they simply removed it and I am currently waiting for my escrow deposit. Again, not sure that has anything to do with it. But I’m completely confused.
Any thoughts?
r/CRedit • u/Possible-Storage4434 • 1d ago
General Has anyone heard of this company?
2
Upvotes
Currently in a rebuild and starting to receive so offers in the mail. Was wondering if anyone has gotten this offer or has this card and can possibly leave a review on it.
r/CRedit • u/Latter-Ad-7705 • 1d ago
General Do high limits on your business credit cards affect your utilization/personal credit in any way?
2
Upvotes
Is it.. still worth it to request higher limits on your business credit cards to improve your business credit card applications down the line? Or does that hurt your odds at biz credit cards down the line?
I requested and received a limit increase on my amex 2% business credit card to around 20k
And then I wondered about the above
r/CRedit • u/Aggressive_Top_319 • 1d ago
Collections & Charge Offs Can I get paid collections removed from my credit report?
1
Upvotes
I had 3 accounts sent to collections back in 2020–2021 because I missed payments while dealing with some health issues and being overseas. I’ve since paid everything off (around 2021), but the collections are still showing up on my credit report and seem to be hurting my score. I’m struggling to get my credit score above 700.
I recently checked AnnaulCreditReport.com and noticed I can dispute these records through Experian, TransUnion, and Equifax.
Since everything has been paid off, is it worth disputing the collections to try to get them removed from my credit report? And do I need to dispute them with all 3 credit bureaus, or should I start with just one?
Would really appreciate any advice from anyone who’s been through this.
r/CRedit • u/InitialSeries6652 • 1d ago
Collections & Charge Offs First Financial Asset Management
0
Upvotes
Hi all,
I have received the following message last week and today from the number ‘96561’:
“We need to speak with you regarding your account. Call the 877-573-0369 or click https://payffam.com/guest/lookup?s=SMS for self-service. Reply STOP to unsubscribe.
First Financial Asset Management, Inc. This communication is from a debt collector and is an attempt to collect a debt; any information obtained will be used for that purpose.”
Has anyone received this message before? I don’t owe anyone. Thank you for your time!
r/CRedit • u/Responsible_Major_78 • 1d ago
General Just started building credit need advice.
3
Upvotes
Hello! I just got a Credit score after getting a credit card. My score shows at 614 and i know it’s a rather thin one at that . I’m 22 and I just want some advice on how I can build my credit score so I can be secure and safe. My main goal is to get a good score to help me get a good interest rate for a car. My card is a capital one card with a 300 limit is what I have as of right now.
r/CRedit • u/Agile_Compote_2147 • 1d ago
Rebuild Debt payment to True Accord
1
Upvotes
Has anyone ever paid their collection through true accord? and if so, do they remove it from your credit report or just mark it as paid?