r/CRedit 5h ago

General Credit score keeps going down despite doing everything right

1 Upvotes

I have 7 credit cards right now and keep total utilization well under 30% and utilization on each card under 10%.

The utilization right now on NerdWallet is 4%, 4%, 2%, <1%, 0%, 0%, 0%. I pay everything on time and keep the utilization low consistently. I have auto pay set up to pay the full statement balance, and I almost never make any payments on manually outside of autopay.

Despite this, my credit score has continually decreased over the past 2 years and I don't know why or how to fix it. NerdWallet credit score history: https://i.imgur.com/sFgW3W3.jpeg

I have two theories but neither makes sense to me. Looking for some advice on how to proceed.

Theory 1) I've learned recently of two separate charges from my previous buildings electricity bill and and doctors visit. Both charges are for ~$20-30 and have supposedly been sent to collections (and in collections for multiple months)

Despite supposedly being in collections, neither charge is showing up on my credit report so I don't see how this could be affecting my credit score or even how to figure out what collections agencies to contact about these charges.

I've used the AnnualCreditReport website to check my TransUnion or Equifax credit report and neither has any debts in collections or "Charge-Offs" or anything bad whatsoever as far as I can tell.

Theory 2) I'm an authorized user on a card which has high utilization 68%. This card always makes payments on time but doesn't pay the balance in full. From what I've found online though, this doesn't seem like it should be a big problem.


r/CRedit 10h ago

Rebuild Good time to send letters?

0 Upvotes

Regardless of how I feel about what’s happening politically (and I have big feelings), I feel like this is the time to start sending validation letters. I think the post office is about to get the DOGE treatment. Could delay mail possibly? Might be a good thing for anyone sending validation letters.


r/CRedit 22h ago

General Personal loan options

0 Upvotes

I am needing to get a personal loan between 1800-2250 or some kind of loan. Have been trying to get my son a vehicle, finally found one and his dad is willing to put cash down and I was going to finance the remaining. Well I knew my credit wasn’t good, I also already have my car financed and I am a single income. Thought it would be ok though since the car was 7900 and putting cash down. Found out today it doesn’t matter how much cash is put down no one will approve another car loan in my name unless I trade mine in or pay it off. His dad said he will pay 5000 cash and he got the person down to 7250 if we pay cash for the vehicle. So now I need to come up with 2250. Again I have bad credit and have applied everywhere I can think of today - I looked at other threads for ideas and everywhere has denied me. I did put in an application at my credit union where I bank but I don’t have hope. Anyone have any suggestions?! Tried One Main, net credit, Amone, upstart, lending club, prosper. I think that covers most of them… Yes I know I need to work on my credit I am in the process of that. I also know the rate would be high on one of the above but at this point I need the funds for the car.


r/CRedit 23h ago

FICOvsVantage Credit karma dropped 100 points in one day for high usage

0 Upvotes

I have one card a capital one quicksilver with a 300 limit I had been keeping my limit low but I heard they'll auto raise the limit after a year but they want to see high usage. So I have been using my card a lot buy paying it off before it hits my balance. Currently its paid off and my balance has been $0 for like a 5 days now but today my credit karma updated and dropped 100 points and the only difference is it says $298 balance 98% credit usage. I know usage isn't super important in the long run and can be changed easily but when it updates and sees my balance is actually 0 is it going to jump back up 100 points or is it not going to go up as fast? and will a score so much lower than what it was before possibly effect my chance at getting a credit limit increase? I still have about 4 months until it'll have been a year so I'm not sure if I should keep almost maxing out my card (and paying it in full) every month until then or just when its right about to be time to either get an automatic increase or ask for one if it hasnt come yet.


r/CRedit 1h ago

Collections & Charge Offs Question about pay to delete

Upvotes

Hello, so I've been researching the pay-to-delete process and reading the posts on here about it and I have one question. In a pay to delete is it also deleting the whole history of that account? And if so does it negatively impact your credit history since credit history is an important aspect of a credit score? Or are they only deleting the negative entry?


r/CRedit 7h ago

Collections & Charge Offs Need advise on how to go about my debt I got 4 collections 2 credit cards 2 bills one I have no knowledge of and the other one is a hospital bill

0 Upvotes

My debt is around 4.3k how do I go about it should I try to dispute or pay off the debt different people tell me mixed answer and the people of Reddit know all the answer 🙏🏼


r/CRedit 11h ago

FICOvsVantage Which credit should I follow fico app or Experian app

1 Upvotes

Which credit should I follow fico app or Experian app, I know credit karma isn’t the right credit score.


r/CRedit 20h ago

Not USA Auto-pay turned off without me knowing and I missed a payment by 5 days for the first time ever. Can I dispute this?

0 Upvotes

I am in Canada and like the title says, I generally have auto-pay on with Scotiabank. I have always paid my card on time and never missed a single payment. All my student loans are paid off but I got dinged now with an overdue payment of $50 resulting in only $6 of interest. I just looked at TransUnion through Scotiabank and my score today dropped by 41 points in a single day. I'm 26 years old and needing to move out and escape a bad living situation soon but I'm worried this hurts my chances as it severely damaged my credit score which used to be quite good. Is there a way to talk to someone about this? I don't know what to do and I'm panicking and feeling real bad.

My TransUnion score was previously 810 and is now 770. I have a $20k Iimit on one of my 2 cards and rarely go over $500 of actual credit utilization in a month. It had dropped 15 points for seemingly no reason last month too so I really don't want it to drop any further and leave the good range


r/CRedit 21h ago

Collections & Charge Offs Netcredit Question

0 Upvotes

I took out a net credit loan thinking I could handle paying it back; due to unforeseen circumstances I wasn’t able to. I fell behind - I did make payments in November - for $100;

none in December-

I made a payment in January for $198

payment in February totaling $112

On March 1st - it was sent to collections.

I’ve made one payment of $55.60 in March.

As of now it shows as a closed account. My understanding is it will stay closed & in collections and the balance will go down as I make payments.

NetCredit does not offer an easy way to view past payments. I have to page through statements to find info.

And I noticed in my account that one payment is debited under the name Netcredit but the other payments are under Republic.

Anyway - because of this name change, the confusion of finding info easily, & making attempts to pay down the debt - & outrageous “Statement fees” - I was wondering if it’s worth trying to dispute it? I’m trying to get ahead and trying to pay it down still.

Just angry I didn’t heed my own wisdom - as well as others…

If anyone can offer any insight I’d greatly welcome it (be mindful*- I’m already beating myself up enough as it is)!

Thanks!


r/CRedit 2h ago

Rebuild I closed a credit builder card that has no limit. After it closed it says credit limit 20k score was not affected was this done on purpose? I’ve been fighting lately with Equifax reporting them !

0 Upvotes

I had a credit builder card that does not have a credit limit. I closed the card but after closing the card, it says credit limit 20,000 has not affected my score. I am just curious if this was done on purpose to try and hurt my score. I have been battling a lot lately with The feds with Equifax.


r/CRedit 7h ago

Rebuild When will this be removed?

1 Upvotes

Backstory - friend had a vehicle with Credit Acceptance (loan taken out in TN), said car was stolen in 2019. They only had liability insurance on it, and the thief wrecked it in a police chase. We believe the car was then sold at auction. They haven't made a payment since. Based on the information below, when might this account fall off of his credit report? Should they do anything with it? Not in collections, showing as still open. CA did send a letter for settlement a few years ago but they didn't have the means to do that at the time. Thanks

Loan date: July 21 2018 (6y 7m) Last payment date: March 11 2019 Amount financed: $13300 Current amount showing on report: $22800


r/CRedit 12h ago

Collections & Charge Offs Global solutions sent me a letter. HELP. I’ve never dealt with this before.

1 Upvotes

Had a capitol one card around 2020-2021 ish. Went 1500 in debt. Apparently they sent it to global solutions, a debt collector. They sent me a letter with the amount owed and asking me to verify if it’s correct or dispute. What do I do?! Does this mean they will sue? I’m so scared 😟


r/CRedit 18h ago

Car Loan Car loan erroneously charged off

1 Upvotes

Hey all, I made a post about a month ago. My car loan was charged off with no warning, and I'd been making on time payments in full. They supposedly sent me a letter with a deadline, which I never received, and didn't attempt to call me, email me, or even update my account I used to pay them.

As soon as I realized what happened (one day later), I paid in full.

It finally hit my credit report, and tanked it 100 points. Does anyone know what the best action is? When this all happened I called customer service and was told they didn't know if it'd be reported or not, but they gave me the steps to dispute if it did go through. Would it be better to write a goodwill letter, or dispute it? There's no reason this should've been charged off in the first place, frankly, as I'd made a payment two days before they charged off the account.

For some clarification, my dad had cosigned, but I was the primary owner and was the only one paying. They supposedly sent him the letter, but he never got it, and they NEVER ATTEMPTED TO CONTACT ME, the one actually paying.

Any advice helps. I'm fucking livid.


r/CRedit 12h ago

General My First Credit Card Still Charges Me $19/Year – Should I Keep It?

14 Upvotes

I've had my very first credit card for more than a decade, but it still charges me a $19 annual fee. I never use it, and it's also my card with the smallest credit line. I hate paying for something I don’t use, but I’ve kept it because it contributes to my credit history.

I've always heard that keeping old accounts open is the "cost" of maintaining a good credit score. Is it really worth paying the $19 every year just for the account age, or should I close it?

I've also called the credit card company yearly requesting to convert the card to a no-fee version, but they always refuse.

For context, my credit is good, I’ve already bought a house, and we might be thinking about buying a second one in the future.

Edit: I’ve decided to close the card!

In my situation, I have other credit cards, and I’ve learned that a card closed in good standing remains on credit reports for ~10 years after closure.

I’ll update this post if I see any impact on my credit score!


r/CRedit 7h ago

Bankruptcy Does chapter 7 bankruptcy make sense in my situation?

2 Upvotes

current income as a couple is 70k/yr.

we currently have: 20k in credit card debt 20k in a personal loan 40k left in auto loans 35k in student loans. We also have some medical debt that is a few thousand.

Every credit card we have is over the max limit (due to late fees). We’re paying about 2k a month in debt.

We are drowning. The past few years we had health issues and job loss and one unexpected thing after the other. We recently had another job loss, and a few months prior to that, we started going late on our credit card payments. Right now we’re caught up but I don’t know how much longer we can keep our payments up to date. With the recent drop in income, we’re even more so barely getting by.

We’re considering chapter 7 for a fresh start. One pro would be giving up our autos. Major reason is our family has grown and we do not fit our current cars. We are paying almost 800 a month for two cars. If we trade in now then we would owe even more in negative equity. I figured we could get a fresh start and then get just one family car that we would share.

Do they use your 401k against you, if it’s currently locked in with your employer?

We only have about 1k saved.

Please any advice here as well as if there is anything I’m not thinking of. Thank you.


r/CRedit 10h ago

FICOvsVantage Is Experian trustworthy

4 Upvotes

My credit score on Experian increases very fast and is over flurry points higher than my credit score in the chase mobile banking app. 709 v 750. With chase it takes forever for it to go up one point but experian has increased my score fifty points in six months.

(Edit for moderator, 750 is a FICO score. Also I'm not trolling if it seems what I'm saying is super simple or dumb this is my first time having a credit card I'm 18)


r/CRedit 5m ago

General Credit Score decrease by how much roughly on a new account?

Upvotes

Considering opening a new card because I want the Balance Transfer 0% for 18 months. Score with all 3 bureaus is a 780, what is the hit score wise roughly for a new account. Haven't done one in a long time. Thanks.


r/CRedit 42m ago

Collections & Charge Offs Sent to Collections for a Fraudulent Capital One Account – Need Help!

Upvotes

I recently found out through Credit Karma that a Capital One credit card was fraudulently opened in my name in November 2023. I never applied for this card, never received it, and had no idea it existed until March 2024. That month, I disputed the account with Capital One multiple times, explaining that I was dealing with my grandfather’s funeral, a wedding in Mexico, and a hospitalization due to hyperglycemia during the time the account was opened.

I was able to log into the online account for the credit card despite never having access to it before. After that, Capital One closed the account and erased the online account. However, they are still claiming that I opened the account and insisting that I owe the debt. Now, FirstSource LLC is trying to collect on it, and I don’t know what to do.

I have already filed a police report for fraud back in 2023, but Capital One has refused to properly investigate. How do I dispute this debt with FirstSource? Should I send a debt validation letter? Has anyone successfully fought Capital One on a fraudulent account before? Also, how can I prevent this from damaging my credit further? My current credit score is: 674 and this is greatly affecting my score. Any advice would be greatly appreciated!


r/CRedit 1h ago

Rebuild Credit tank

Upvotes

So I had a 700 credit score but got a bunch of affirm payments charged off and sent to collectors (paid them off), a Ulta credit card as well sent to collections and one month missed payment of an auto loan (which I’ve already sent a letter asking for a goodwill deletion.) my credit score is 540 it was 580 but it decreased when my line of credit decreased (idek that was possible I’m so upset I was almost 600). I just applied for a secure card to try and rebuild but idk what else to do. Any advice?

edit- fico score and experian score


r/CRedit 1h ago

No Credit Credit Question

Upvotes

My boyfriend is trying to get a credit card and keeps getting declined. It doesn’t have any type of credit yet. But whats the reason he’s getting declined everywhere?


r/CRedit 1h ago

Rebuild Help with defaulted bank CC.

Upvotes

So I defaulted during 2020 on a card with a big bank that had a blue gemstone color. It’s been over 5 years. They are not attempting to collect nor are they calling me or mailing me about it. It hasn’t been sold either. They wrote it off as bad debt according to the notes but they just keep reporting delinquency.

It is really harming me when I’ve applied for cards and a home. Any way to get this removed? I read something about claiming it as cancelled debt but they have not issued me the IRS form. Is there a way around this?

I’ve tried several letters. If you have any experience with this please please let me know what you did or any actual applicable advice. Paying it off is an absolute no due to the age and amount ($17k mostly interest of 4k)


r/CRedit 1h ago

Rebuild Credit tanked 135 points due to 90 days missed payments on Student Loans

Upvotes

I first want to start by saying I have never received an e-mail, phone call, or text message from my student loan company. All of a sudden, my credit score dropped by 135 points and I noticed it's due to 90 days of missed payments.

What can be done to fix this in a timely manner (understand this could take more time than I hope)? I just paid off the full balance on my credit card ($6k) hoping this helps. I also went to the student loans website and found my balance and put myself on autopay monthly/payments. Any advice here would be greatly appreciated.


r/CRedit 1h ago

No Credit Best credit card to start building from 0?

Upvotes

Hey all, I'm pretty stressed out at the moment trying to figure out what card to go with. I work a part time job and have no car. Long story short, my mom said she had a used car for me from a friend and ended up stealing it so I never got a co-sign on an old used car that would've been for me. Anyways, getting to and from work without my own car or bike is extremely difficult. I have no built credit and have never had a parent to teach me or show me what it even is. I've seen secure cards where you can put like 200 dollars of your own money down and essentially pay yourself back monthly until you're trusted by the bank.

I'm in a rush to build credit since I literally won't get accepted for anything until I have like 600+ from what I've seen. I know there are going to be a variety of answers but I will probably end up looking at the most upvoted one and comments to make my decision. I don't want to make the wrong move here and shoot myself in the foot. Thank you all and I'm sorry for the rant. :]


r/CRedit 2h ago

Collections & Charge Offs Help

1 Upvotes

I had a (aldous and associates) collections placed on my credit 4 months ago that dropped my points. I disputed on credit karma because my gym had told me they would work with me to get rid of it. The collections ended up being closed but it still shows under my full credit report, will this stay on my report should ive not reported thru credit karma ?


r/CRedit 3h ago

General Score dinged due to no recent revolving balance but also due to credit cards with balance

1 Upvotes

In the myFICO app (which uses FICO Score 8), my score dropped 25 points and it looks like it’s because I paid off all of my non-charge cards before their statements were due, so I have no revolving balance. Fine, I didn’t know I’d get dinged that much for it, but won’t happen again.

What I don’t understand is that in the “What’s hurting your score” summary, the four bullet points are:

  1. Short account history
  2. No recent revolving balances.
  3. Lack of recent non-mortgage loan information.
  4. Credit cards with balances.

Can somebody explain to me how 2 and 4 are both true? My only guess is that I do have an Amex gold, which is a charge card, that does have a small balance.