General Credit Topics

[flipinswitches]

My Fico ex score is 618

I have a capital one card $500 limmit I got in Jan.

I have a House hold bank card $300 limmit got in Jan.

I was just approved for a WAMU Visa today $1000 limit (last card I am going to apply for)

one student loan for about $1500 deffered

one student loan for about $3500 deffered

and one student loan for about 10,000 for my current program

I am planning on buying a house next March, and want to obviously increase my score as much as possible between now and then. I keep a low credit card balance on my cards under 10% (trying to work the system). My main question is in reguards to my student loans I get $1500 per year tuition rembursement from my company and am planning to apply that to my older student loans. Should I just pay the one off for $1500 or should I pay down on both of them but leave them active to show a longer payment history? Or should I pay them both off before I apply for a home loan? I don't know if it will make much of a difference just wanted to get some oppinions one way or the other. Thanks guys!

[Timothy]

As long as the UTL is still down.

Pay the one with the highest APR or If your DTI may become an issue when you apply for the mortgage pay off the TL that you can.

Installment loans have little effect on the score unless you are late.
You may want to consider consolidating the SL's as well.

[Noah_Bodie]

Any lates, chargeoffs (paid or unpaid), collections (paid or unpaid), repos, et al.?

[flipinswitches]

Yeah a couple of years ago I was late on the student loan that is $1500 bucks and the reason my credit is crummy is 4-5 years ago I abused a couple of credit cards and they went into collections, which I paid off, however one of them shows that I owe $110 I am trying to figure out who the collection agency was. I called Chase they referred me to one collection agency then to another and another the last one wouldn't give me the name of the company who they sold it to. So I am going to have to work to find that out. If anyone has suggestions about that I would like to find away at least to have it marked as a paid account rather than active and still owe.

[Timothy]

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flipinswitches wrote:

Yeah a couple of years ago I was late on the student loan that is $1500 bucks and the reason my credit is crummy is 4-5 years ago I abused a couple of credit cards and they went into collections, which I paid off, however one of them shows that I owe $110 I am trying to figure out who the collection agency was. I called Chase they referred me to one collection agency then to another and another the last one wouldn't give me the name of the company who they sold it to. So I am going to have to work to find that out. If anyone has suggestions about that I would like to find away at least to have it marked as a paid account rather than active and still owe.

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If they can't find it - they can not validate/verify it.
I say REFUTE this.

[Noah_Bodie]

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flipinswitches wrote:

Yeah a couple of years ago I was late on the student loan that is $1500 bucks and the reason my credit is crummy is 4-5 years ago I abused a couple of credit cards and they went into collections, which I paid off, however one of them shows that I owe $110 I am trying to figure out who the collection agency was. I called Chase they referred me to one collection agency then to another and another the last one wouldn't give me the name of the company who they sold it to. So I am going to have to work to find that out. If anyone has suggestions about that I would like to find away at least to have it marked as a paid account rather than active and still owe.

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Is the $110 collection listed on your CRs as with Chase or a CA?

[flipinswitches]

On my report it shows it as Chase NA and it lists it as an open account Bad debt/collections. It says status as of Feb of 03 and lists a past due ammount of $110. What worries me though is that it is listed as an open account.

[flipinswitches]

bump