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New Visitor
Posts: 3
Registered: ‎07-03-2007
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I know I have no chance....... for good credit anytime soon

My credit file says I have 72 late payments. All in a matter of 6 months back in 2004. Now its almost 3 years ago and I haven't missed a payment since then. My balances are relatively low (utilization around 45%, will improve on that soon). Now my credit scores are around 600 - 624 on all 3. No bankrupcies, and 1 charge off, all collections clear. With that many late payments I don't think my score is relative anymore except for a financier to see my track record for the last 3 years and give me a chance. Am I correct in assuming that? Or does my score help any? I know right now it is not very enticing for good rates but I want to buy a car or something just to boost my credit a bit more, instead of credit cards (no collateral, no shot).
Any advice you can give would be deeply appreciated on what I can do further and better.
Moderator Emeritus
Posts: 6,182
Registered: ‎03-29-2007
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Re: I know I have no chance....... for good credit anytime soon

Welcome... Please read the Scoring 101 thread. GW is your friend! Smiley Happy
Frequent Contributor
Posts: 491
Registered: ‎05-23-2007
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Re: I know I have no chance....... for good credit anytime soon

Your scores are not really that bad at all. Give a GW a try but if that doesnt work just keep paying your bills on time and make sure you clean up any collections. Keep your Credit Card utility to under 10% and you will see the scores improve.
Established Contributor
Posts: 581
Registered: ‎04-11-2007
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Re: I know I have no chance....... for good credit anytime soon

My FICO score is around 647 and I have 15 lates that are 30 day lates on my report from 2003 and an AMEX that has just finished a dmp  (120 days late and $7700 balance) and is scheduled to come off around July 11th.  I thought I was hopeless also and got a lot of good informaiton from posters here and also the the "drive" to continue my credit repair.
I called my bank this morning to inqury about a personal signature loan (non-secured) and explained my background.  They told me they look at the entire picture but place most importance on the last two years of no lates, collections, and utilitization along with salary.  That gave me some hope.   So you many wnat to contact a Credit Union or local bank in your area and see if they will work with you.
Good luck!!!!

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