How much will score go up…

Mar 222011
 

I just looked and I have 7 collections on my credit report that are paid off. If I can get them to accept GW letters how much do you think my score would go up?

Need To Improve Credit Score

Mar 222011
 

Hello Everybody,

 

Well my name is Lily and I am here because I need advice on impoving my Credit Score.

My parents are in DEBT and they are loosing our home the only hope we have is Refinancing, My father wants me to give it a try. I am the only one with a Decent Credit Score.

 

My Fico is 585.

 

The only problem is that i have credit card debt, i have never been late or missed any payments. the problem is that i have used more than my 30% on the cards.

I am carrying a balance on probably 10 cards.

 

Recently one of my dogs got sick and we couldnt affor the vet bill so i applied for several cards and i believe that had a negative impact on my credit.

 

can someone give me advice on how or what will help me  improve my credit.

 

Thank you very much.

 

BTW: My total debt is about: $7,000 (credit Cards) and i have an auto loan of ($19,000)

Removing Paid Collections

Mar 222011
 

How long does it take for a paid collection to come off your credit report? Is there anyway that you can speed up the process? And how much does your score improve after having them removed? Thanks

Rebuilding for First home

Mar 222011
 

My wife and I have been paying off our collection accounts for the past 2 months. We are trying to purchase our first home.  A realtor advised us to get our collection accounts to a zero balance. We recently checked our credit too see  if there was any progress. And my wife score dropped. She figured it was because of her 50,000 student loan that have 30, 60, and 90 latest. She contacted Direct Loan and they honored a deferment to start form the first day of being late. Will the action help her in any way. Or at least move up her score

Does a CA updating an account they bought paid in full hurt your score?

Mar 222011
 

While I have learned a lot on this forum I still have a ways to go.   Not sure if I potentially hurt my score or not. I had a Cap 1 charged off account from 2007.  Was purchased by a CA. The CA hadn’t reported on my Credit report so thought would be safe to just pay it. Got the thank you/receipt letter and it said that  account would be reported as paid in full by federal law.. Scared that a new collection being reported, even one paid will hurt my score.. So the question is, if they report this will it lower my score?

New line of credit to rebuild credit ?

Mar 222011
 

I am in process of rebuilding my credit, but I do not have a line of credit open. I am trying to get my credit where it needs to be so I  can buy a home. I have applied for a credit card but was denied. Is there any alternatives.

 

 

 

 

 

Another credit union conversion

Mar 212011
 

Just in case anyone needs a little more evidence that (most) CUS is awesome:

 

I was approved today by my little local CU (Pacific NW FCU) for cc $ 3,500 limit (which I’ve asked) best April (9.75%), no BT fees, no cash advance fee, no annual fee. They also offer to refinance my car loan (which I refused because I have 0% APR).

 

Before this I had only a low level, high-April cards with limits ranging from $ 500 – $ 800 (except Care Credit with a $ 2,500 limit), all opened in the past 18 months. I always PIF except Care Credit, which currently has a balance of $ 400 is a 0% promotional rate.

 

I have two small collections, and paid a small collection of unpaid since 2006 still on my credit report, and a number of overdue student loan payments from 2006 to 2007 (and I mean much because every semester credit reports on a second account, so several lates have multiple accounts). The present results are FICO EQ 681, TU 689 I assume they pulled EQ, but I’m not positive.

 

I really just wanted this card so I can use it whenever I go (hard to book hotel rooms with a small restriction map), and now it seems to me to sit down and do some gardening and not longer applied in the cards until the last drop of my bad guys a few years where all new accounts are old, and I’ll be in good condition. I also want to cancel only AF-Card, Capital One before AF is estimated in December.

 

It was definitely a different process to apply online and get an instant decision (or the dreaded 7-10 days notice). I had to give references and my application for a loan to be approved by a committee. But it’s nice to know that there were real people searching for on my credit report instead of a computer, and that they were able to see and appreciate the progress I have made in recent years.

Credit?

Mar 212011
 

just curious …………. all credit cards, store cards to circumvent the hard inqs a good score? anyone had success reconing card is rejected the only reason inqs? Share your story !!!!!!: smileywink:

Macys’s AmEx 90 day late…HELP!

Mar 212011
 

While trying to build my credit and pay down credit card bills, I’ve become very anal about late payment etc…

 

(back story)

I had a Macy’s store card, and this winter I was “given” a Macy’s American Express card; my assumption was that I moved from the traditional store card to the new American Express card; my GAP card did similar. I am currently signed up for the automatic payments for Macys, and made the assumption that the bill was only one (not two) and the monthly payment made automatically as always. Even checked my online banking regarding the payments, and noticed each statement was paid on time.

 

Well, I learned today that the store card and American Express card were two different account under my name, and the American Express was 90 days late. I spoke with the Macys account rep, and they agreed to remove the late fee if I paid the balance in full which I did. I plan on closing the account, too.

 

Now, I’m very concerned about my credit score as I know that 90 days late is a KILLER. Is there anything I can do with the credit bureaus to fix this? If they notice my other open accounts, I am never late (thank you auto payments). I understand that I am at fault for assuming differently therefore missing the payments, but I simply figured the store credit card transferred to the new one; odd to think a store having two different accounts under one name.

 

Any help would be great–thanks!

 

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