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Hi Karrade,
Please let us know which cc you recently opened. BTW, it's not important how much you put on that card each month, it IS important how much you let report. If you only have one card, it should report $0 balance on the statement cut date (which is different than the due date).
And have you looked at the HIPAA process for those medicals?
Visa card through our bank, and when we use it once a month we pay it completely also im not sure what "HIPAA process" is but the hospital bill was only a few hundred and the only reason it was on our credit was because we didn't know about the bill... our daughter has med problems and her insurance was supposed to cover it. so we paid it off already.
Hi Karrade,
If you have a bank visa, there is absolutely no benefit to opening a yucky stupid ridiculous (sorry!) card like First Premier.
The hospital bill is still hurting your FICO even if it is paid in full. HIPAA process will help you get that account removed from you reports, which may yield a score increase.
I'm not too impressed with your broker, btw. Many brokers are not too savvy about FICO and credit reporting. Check out the Mortgage Loan forums here for some reliable advice and information - including feedback from some very knowledgable mortgage peeps.
Best wishes to you in your efforts!
Thank you for your help beammeup
Major +1 to beamMEup's advice, above: Say no to the First Premier; get the baddie removed thru the HIPPA process; check out the Mortgage loan forum here; and let the broker find you a home, but don't listen to him on how to improve your credit score!
Do you have a close family member that could add you as an authorized user on one or two of his/her credit card accounts, accounts that have a long and unblemished history? That would be ideal for you, as long as the card reports the AU status. The trick here is that not all of them will.
If you can get added, and if the card reports to the bureaus, that alone could give you the boost you'd need. The HIPPA can work wonders, too.
Good luck with everything.
I am wondering what's dragging your scores down?
EDIT: Is your mortgage broker scamming you are you scamming them?
Hi, blacklotus!
I believe the OP stated that there was a medical collection (for a bill he was unaware of) which has since been paid in full, as well as a limited credit history.
@blacklotus wrote:
I am wondering what's dragging your scores down?
EDIT: Is your mortgage broker scamming you are you scamming them?
Please remember to be friendly, supportive, and respectful of others on these boards. There is absolutely no evidence to suggest that the OP was deceiving the loan officer in any way.
karrade:
three years, and no closer to getting the home of your dreams?
read. read. read. read. READ.
no advice is going to help you if you don't understand why you should (or should not) follow a particular piece of advice. following what other people tell you to do (even if they tell you the right advice) just because they tell you to do it will substantially hurt you in the long run.
Spend a weekend. Spend an hour a day. You and your partner. Discuss what you have each read, together. Read. Starting with the sticky notes. Use the search function and Read everything you can get your hands on, in the credit forums and mortgage forums especially.
Read. Good luck to both of you.
@Lel wrote:
@blacklotus wrote:I am wondering what's dragging your scores down?
EDIT: Is your mortgage broker scamming you are you scamming them?
Please remember to be friendly, supportive, and respectful of others on these boards. There is absolutely no evidence to suggest that the OP was deceiving the loan officer in any way.
Perhaps blacklotus is just asking if there's more to this situation? That would be a fair question. Three years, middle score in the upper 500s, getting a car loan not out of need but because someone tells them to do so -- and being able to pay off that car loan in a year; two medical collections which didn't lead to a fight with the insurance company, but was paid off no questions.
It does indeed look like the OP is being taken advantage of -- and that they have a lot of disposable income at that; but if there's more to the story, then let it all come out. You know?