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08-11-2017 07:59 PM
Get a personal loan for let us say $1000 make the minimum payment the first payment and pay it off with money received from the personal loan.
In addition, having a secured credit card of balance of $500 and pull out $100 of the ATM and putting it back in the account the next day.
Would it work reporting and building my limit?
08-12-2017 01:06 AM
I don't believe this would help you much. First off, it's the long payment history that makes the personal loan worth it. If you make one payment and then pay it off, it can only help you for one month. Plus, you'd still be charged interested on the loan, and probably some "fees", too.
Withdrawing money from your card and putting it back in might help some, but it's a good thing to carry at least a small balance on a card each month. I believe the ideal util number is.. 8.9% or something like that?
Nothing beats actually using your cards and paying them down to around that magic utilization number before your statement hits as far as I know. That will let your score grow as well as your limits.
08-12-2017 08:15 AM
08-12-2017 09:02 AM
08-12-2017 02:59 PM
08-12-2017 06:38 PM
credit karma says 591 for trans and 597 for equifax. Not Even sure. I did a real credit report on june 18th all where in the 520's fico around 520.
Just checked my fico and its 552 now. 12 medical just came off on trans and experian, still waiting on equifax.
1 account with a 30 day late. Which is in disbute. Child support sent out a bill 1 1/2 after we went to court and by that time it was already late. Bullcrap. 6 credit inquires which 2 i didnt run. So i will have to disbute. 14 collection accounts all but 1 are medical because my exwife put all the bills to her address and i was out of state at the time. She used my medical card and never paid. 1 state tax lien on jun 26th 2016 so im not sure if their going to remove it or not.
I have 8 accounts all never late one payment in 11 years.
I have a credit repair person for 6 months. But know ive learned all the letters etc how to disbute it.
I have one installment plan for a car but will be paid off in feb 2018 $1900 left
I have a month old capital one card that hasnt reported yet. $25/$300
I have a freshstart fingerhut account of $180. $30/180 paying off and using it in couple of months to get my limit up.
So im worried that when the car is paid in full on feb when i buy a house in june or july that it wont show any installments that my score will drop.
applied for a secured discovery card and was declined 2 months ago.
What else do you think i should do.
I thought about the victora secret store card hack.
Thoughts Thank you Jeff
08-12-2017 07:59 PM
08-12-2017 08:35 PM
This would bring down your AAoA and does nothing to demonstrate how you are at repaying loans over a period of time.
Pulling 100 out of an ATM is considered a cash advance so there will be cash advance fees and depending on the UW deciding a CL increase or going to unsecured it could draw flags to them. I would suggest keeping a good UTL with purchases that will be paid off to keep it cycling.
08-12-2017 09:39 PM
I use the secured card for gas once a month. Get the statement make minimum payment then wait a week and pay off the balance. At the end of the month I'll have enuff for another secured credit card. Should I just use $200 on this $300 to open the other one and pay it off the $200 at the end of the month? Also what's that the name of the loan that you don't get any money. You pay ever month and then after the end of the term you get the money.