I have maxed out my Stafford Loans and I applied for a Sallie Mae. I got denied and was told I needed a co-signer. Since then, I have worked very hard to get all the "baddies" off my credit. I will list all the information about them below. Can someone please tell me how much each one affects my credit and what I can do to change them? Or at least tell me why Sallie Mae is denying me. The problem with my credit is high utilization and old negative accounts. For the past 3 or 4 years I have never missed a payment or late on a payment. Nothing negative.
The first mark against me is that I have high utilization. Almost 90% on my credit cards. I realize that I have to pay those down.
All my baddies are:
1. Capitol One Credit card
- Condition- Paid
- Balance- 0
- Pay Status- Collection/Charge off
- All my lates show in history in 03'. Was up to 150 days past due
2. Capitol One Credit card- a different one
- Condition- Paid
- Balance- 0
- Pay Status- Collection/Charge off
- All my lates show in history in 03'. Was up to 150 days past due
3. American General Finance
Condition- PaidBalance- 0Pay Status- Late 30 daysThis account has a judgement on it as well. I sent a GW letter today.
