New Visitor
Posts: 2
Registered: ‎03-26-2007

Why me?

Hello forum,
Since I was in college I do not remember my credit being good. In my entire life I think I have had 6 delinquent payements show on my credit report and most of them appeared last year when I left teh country for a number of months.
I am just curious could there be any other reason that I am not aware of to why my credit has always been bad?
I never had any deliquent payments in College and even then my credit score was about 600.
What gives?
Moderator Emeritus
Posts: 5,436
Registered: ‎03-10-2007

There's more to it than delinquent payments.  Were you ma...

There's more to it than delinquent payments.  Were you maxing out cards?  Going over limit?  I know when  was young I used mine til they couldn't be used then just paid enough to be able to use them again.
New Visitor
Posts: 2
Registered: ‎03-26-2007

thanks for replying

Thanks for replying,
actually, there were to credit cards in my name, both of which I did not use, my parents claimed that they were helping me build credit. But from what I know my parents managed the cards well.
The only thing I can think of is that one credit card was a joint card with my dad, and he went bankrupt after divorce, I am not sure if that could have affected me?
But have generally been good with bill paying and have always tried to avoid late payments.
A matter of fact I am now 28yrs old and just got my first credit card, on my own terms, sime years ago closed off one of the credit cards that my parents got.
Valued Contributor
Posts: 2,374
Registered: ‎03-15-2007

Re: thanks for replying

You should pull your credit report here and see what's on it.

Most likely, your score is low simply due to a lack of credit history. Remember that your score does not start high, but rather begins moderately low, and rises as you show good credit and money management--paying your bills on time, for instance.

The good news here is if you don't have any major hits, like charge-offs or BKs, you should be able to significantly improve your credit score. Keep any credit card you have now, and charge just enough to get a bill. Pay that bill on time every time (autopay if you can). Open another credit card (don't pay any more than $39 for an annual fee), and do the same--charge just enough to get a bill, and pay that bill on time. About every six to nine months, bug the card companies for an increase in your credit line--higher credit limits look good. In six to nine months, get another credit card.

A year from now, you should be looking at a significant gain. You should then be around 650 to 675. When you're up to buy a car, you might want to look at financing part of it in a simple-interest loan. Save your money, and pay an extra $100 or so each month on the loan to retire it within two years or so and keep your interest payments down. A paid car note also looks good on a credit report and raises FICO.

In three or four years, there's no reason you shouldn't have a FICO well into the 700s.
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