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She Has No Credit!!

Established Member

Re: She Has No Credit!!

i am kind of late to the challenge..i am 29 yrs young and i have terrible credit..not by choice when i was 18 i got cc,s never paid on them. i have a cr company currently working to get my baddies off,and they have told me to apply for a secured card to boost my score..however i dont know if this will help..i pulled my scores on y fico they were equifax 488 tu 517 plz sumbody tell me where to start i just have a short term goal of being a homeowner by the end of 2011!!!!!!!!!

Starting Score: 511 tu,466eq
Current Score: 511,466
Goal Score:700
Message 11 of 18
Epic Contributor

Re: She Has No Credit!!

 


shamekapta wrote:

i am kind of late to the challenge..i am 29 yrs young and i have terrible credit..not by choice when i was 18 i got cc,s never paid on them. i have a cr company currently working to get my baddies off,and they have told me to apply for a secured card to boost my score..however i dont know if this will help..i pulled my scores on y fico they were equifax 488 tu 517 plz sumbody tell me where to start i just have a short term goal of being a homeowner by the end of 2011!!!!!!!!!


 

Did you try the pre-qual with Best Buy Mastercard?

Capital One Secured would be a great choice

 

Those 2 choices above would be a no go if any of your previous accounts that you still have not paid are with those companies

Message 12 of 18
Senior Contributor

Re: She Has No Credit!!

 


shamekapta wrote:

i am kind of late to the challenge..i am 29 yrs young and i have terrible credit..not by choice when i was 18 i got cc,s never paid on them. i have a cr company currently working to get my baddies off,and they have told me to apply for a secured card to boost my score..however i dont know if this will help..i pulled my scores on y fico they were equifax 488 tu 517 plz sumbody tell me where to start i just have a short term goal of being a homeowner by the end of 2011!!!!!!!!!


 

Secured cards are very good to boost your credit, assuming you have no active accounts.

 

If you belong to a credit union, start there.

 

Among the banks, I recommend

 

Capital One (if you have not burned them)

Orchard (if you have not burned them recently)

Public Savings Bank (Best card for very bad credit)

 

Considering your homeowner goal, you should probably get at least 2 of them and put down more than the minimum. 

 

Message 13 of 18
Epic Contributor

Re: She Has No Credit!!

Did you say your working with the credit report agencies disputing or you hired an actually company to do it for you? if you are paying someone to do it I would fire them now, all of us here can walk you through how to do this all on your own and probably have better success

Message 14 of 18
Senior Contributor

Re: She Has No Credit!!

 


creditscore780 wrote:

She has a Chase Checking account


Chase is not easy to get with no credit.    I suggest you consider the Capital One secured card.  They add unsecured CL with good behaviour.    After about a year, you could apply for a Chase card.   You need 2 or 3 cards minimum to develop a good credit score.  It takes time.

 

Message 15 of 18
Established Member

Re: She Has No Credit!!

yes i hired an attorney, i feel like i could fix my credit but i don't know where to start.i thought about taking my tax return and paying off my baddies ,the largest thing on my report is a repo for 12000 back in 2004 but they reported it agin in 2008, my credit is so screwed up i dont know what to do r where to start;(

Starting Score: 511 tu,466eq
Current Score: 511,466
Goal Score:700
Message 16 of 18
Established Member

Re: She Has No Credit!!

i have applied and been approved for both the capitol one and the public savins one, when u say increase my score do u know how much it would? i'd be happy just to get into the 600 club by the end of the year, i really messed up when i was younger but iam really trying now that i am a resposible adult...does cone offer a unsecured card after several ontime payments?

Starting Score: 511 tu,466eq
Current Score: 511,466
Goal Score:700
Message 17 of 18
Senior Contributor

Re: She Has No Credit!!

 


shamekapta wrote:

i have applied and been approved for both the capitol one and the public savins one, when u say increase my score do u know how much it would? i'd be happy just to get into the 600 club by the end of the year, i really messed up when i was younger but iam really trying now that i am a resposible adult...does cone offer a unsecured card after several ontime payments?


 

Very good choices.  Mortgage lenders want to see a few positive TL and the longer the better, so it is good you started now.   It is better if you deposit more than the minimum or add to it over time.  

 

Capital One will look offer some unsecured along with the secured first.   Then at some point they should offer an unsecured card, but considering your credit, it won't be qucxk.   

 

Public Savings Bank does not unsecure, but since it has no fees, you should plan to keep it at least until you reach your homeowner goal. 

 

I would not plan to add any other credit cards, just take good card of these, use them every month and pay if full.  

 

Message 18 of 18