Building off a socre of 606

[kimball]

I recently decided that I would like to start building my credit card score before I graduate from college next spring (yes I'm extremely late). I have student loans that I have deferred after college because I can not afford to pay them back right now. I've applied for different credit cards unknowngly knowing my credit card score. I was declined multple times. Does student loans affect my credit score that much? When I applied for Discover their rejection letter said the following: Serious Delinquency, too few accounts paid as agreed, and lack of recent revolving account information. I'm worried that I will graduate with a terrbile credit card score. I want to rebuild my credit score so in the future I can possible buy a house or a car. What can I do?

[swtneka]

Have u pulled your CR to see what's on there? That should be your first step. See what collections you have and try to PFD, PIF or DV them (if incorrect), try getting a cc from places that help you build/repair credit. Like fist premier bank, or cap one, or matrix. I have a card from them and started at 607 in march. I now I have a 626 and expect it to grow in a few months. This take time and patience. And sounds like u have it since u r not in a rush to get major credit. I hope some of the guru's can chime in and help u further. I am only telling u what I did. gl

[fishbjc]

NUMBER ONE:  S T O P APPLYING! 

Pull your credit reports and go over them with a fine-toothed comb.

READ these forums....and READ them again.

If you are looking for your FICO SCORES.....BUY THEM HERE!!!!

You can sign up to CreditKarma or CreditSesame, but don't pay attention to their scores, it's just a rough guesstimate.

Take Notes!

Ask Questions before doing ANYTHING!  Attack your items one-by-one. 

In order to build or re-build...you may have to start with SECURED CARDS.

Rebuilding or Building takes time and patience. 

[kimball]

Thanks guys for the responses. I have stop applying already. I've looked into secured cards and I have narrowed down to capital one secured card. I've also looked into maybe applying to Barclaycard Rewards MasterCard because the req's are fair to good credit. Does anyone think it's a good idea? Also, is AnnualCreditReport a legit source to get a report? Or Can I go to my bank (us bank) and request one for a fee? The two things that I can think off that could be bad on my credit history are my student loans or my fraternity dues which I pay off. I don't believe Ive been sent to collection so that's why I'm little bit curious why my score is that low. Thanks guys for the help!

[cwwatts1202]

annualcreditreport.com is where you are able to obtain a copy of your 3 CR's for free once a year. So yes, get your reports from there and see what is on them. Capital one secured is a good place to start, no to the Barclay's, you probably wouldn't be approved, no sense in taking the HP. After getting your CR's see what's on them, dispute if necessary, try for PFD's etc.

[kimball]

So I went onto annualcreditreport and check off Experian and TransUnion to look at my report. Both companies said they were unable to check my report. Did I do something wrong? Also, Does anyone know what is the minimum requirement fee for capital one? I have seen it can be $49, $99 to $200?

[cwwatts1202]

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@kimball wrote:

So I went onto annualcreditreport and check off Experian and TransUnion to look at my report. Both companies said they were unable to check my report. Did I do something wrong? Also, Does anyone know what is the minimum requirement fee for capital one? I have seen it can be $49, $99 to $200?

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Maybe you answered the security questions wrong? Not sure... Capital one basis the deposit on your credit, you will have to pay wither $49, $99, or $200 deposit, and the credit limit is $200 no matter which deposit you have to pay. 

[kimball]

Thanks! Maybe I did and did not realize it. Will this count towards my free reports for the year? Also, If I apply for capital one will I get an HP?

[cwwatts1202]

If you dont actually get/view the report it shouldnt count, you may have to call the CRA that you tried to view it from and it wouldnt let you and find out what happened. This happened to my husband and they asked him another set of security questions and they unblocked it or something so he could view it online. Yes the cap1 will be a HP.

[kimball]

Thank for the help! Also how long will the HP from the credit cards apply for stay on my history for?