help rebuilding credit

Dec 112010
 

Still plugging away at it but………………need some help………..I’ve done alot of work on my credit over the last yr and now what I’m left with in addition to getting my utilization percentage down on credit debt (working on) is a

 

bankrupcty that’s about 9yrs old chapter 13, paid out all debts reclaimed

1 medical collection that will be 6yrs old on Jan 1, 2011   $117

1 med collection that will be 6yrs old on March 1, 20111   $436

1 cable co collection; 4yrs old, will be 6yrs on Sept 2012  $326

 

Wondering if anyone has advice on what to do about the above, Bankrupcty hasn’t really been an issue for awhile. Just purchased first home this time last yr. Currently using resources to pay off credit cards to increase credit score/bring down debt. Have considered getting another credit card to pay off these balances but already have 5 totaling $1378.00. and at 87% utilization so don’t know if it’s a good idea.

 

EQ: 595  TU; 602  EX; 626

Help With Building Credit

Aug 292010
 

I’m new to credit building. I have a credit card w/300.00 limit. The card is only 3 months old. How much of a increase do I need. I will have to send the money in for a credit increase on my secured card.

How Long To Show After Creditor Reports

Jul 152010
 

I have cleaned up a bill with one creditor and they said they will report to the agencies on July 21st.

 

Without a rapid rescore, how fast will that typically show up if my lender did another credit pull?

 

Thank you.

My best option?

Feb 072010
 

Currently, I’m around a 605 score(per USAA mortgage, 605 is my average).  I was told by USAA, I need a 620 to apply for a VA mortgage.  I would like to buy a house within the next 2-4 months, if possible.  I have the USAA credit monitoring for all 3, and the scores listed on them are 589/596/609.

 

I have 2 chargeoff accounts that have been settled on my report.  These are from before I found this forum.  For the time, I’m going to assume the GW letters will not help(they haven’t yet).

 

I have 2 chargeoff accounts that have not yet been paid, as I want to have enough funds to do a PFD on them.

 

I have one regular credit card account(Capital one, $550 limit, had it 10 years), and one secured credit card(BoA, $300 initial limit).  I tried for a Wells Fargo card, but they denied me.

 

It looks like my options, at the moment, are:

 

1) Saved up enough to handle a PFD on one of the 2 remaining chargeoffs.

2) Send BoA money to increase my limit

3) USAA sent me the application for their new secured platinum card.  Limit of $250-$1500, depending on how much I send in.  The money gets put into a CD, that earns interest.  $35 annual fee

 

My impression is that opening another credit card, will have the biggest impact on my score.  The chargeoffs are over 2 years old now.  If I understand correctly, buying a house before April 30(or having a contract in place), will get me the tax credit of $8,000.  In turn, I could use that to handle a chargeoff(I think).  Would like some other opinions on the situation.

Message Edited by Speedwagon on 02-06-2010 05:50 PM

To those PSECU members, a question…

Jan 262010
 

Ok, so I became a member of PSECU about 4 months ago through my sister.  Im not even going to talk about the 2 months it took me to actually get my membership papers after mailing them almost every kind of documentation save getting into my car and showing up at their doorstep.

 

Anyway, last week I applied for their credit card and was declined due to….

 

1) Excessive amount of new credit accounts opened within the past 12 months

2) Excessive amount of available credit

 

Ok, so heres my issue:  I have opened two accounts within the past year, one auto loan for over 40k which is already down to 17k and another credit card with a 12k limit which I owe nothing on.

 

I understand the second reason, well, because I do have an excessive amount of available credit, however, I also have the annual salary to back it up.

 

My question is, should I bother with a full recon?  I called the CSR number and she said they dont really offer recons since each application is manually reveiwed, however, I could send in a letter explaining my situation and documentation with regards to proof of income (W2′s/TaxReturns).

 

From what Ive heard, they are a pretty good credit union and are like NFCU with limits, which I like.  Is it worth the time and effort to do this? Â