Rebuilding Your Credit

[britishexpat]

I recently appied for a prosper loan and got a decline saying that my score generated from experian is at 504

My Fico score through walmart at that time was at 654... should be higher now as all balances have been paid off in full on all 6 accounts?

I tried to call experian but I got nowhere with them. told to go online and register... would not allow me to do this...?

currently my cards are. 1 @ 7 months old and the other 5 are all at 5 months history.

anyone have a number for me to call them and get this resolved as I need to get a loan to improve my business ASAP... 

[britishexpat]

Also I am getting denied on all applications elsewhere... I thought that waiting till at least one card was at 6 months at least would be a good time to apply for credit... getting high HP's on file due to this... how long should I wait? I have 0 utilization on all cards right now... my fako scores with TU and Eq should be in early 700's this month... and FICO with walmart should rise to high 600's? what am I doing wrong here? are my denials all down to experian giving me such a low score?

[ah12345]

For the best possible score you should leave a small balance on one of your cc 1% utilization is better then 0 balance reporting on your cards

[britishexpat]

That's all well and good leaving a small balance, ill do this but why are experian messing everything up for me here... just reapplied on the prosper site and got a score of 509 wow that went up by a massive 3 points? what are they playing at here with me.... 

[ah12345]

Also fakos score can be way off from your real FICO scores all hard pulls count for a yr. So if you have many my advice was 8 months from the time you last applied.

[ah12345]

Every credit agency has their own method of scoring maybe you have to many reacent accounts and many hard pulls those two can drag someone score down

[britishexpat]

I was just got refused with 2 other credit cards, barclays and discover... I am about to say sod it all... been here 2.5 years only got green card in feb 2012.. $5k to immigration in fees and all that... no work at all around here for me, so started a small concrete business that needs to expand to make it... Can't make it without some help in the credit lines or a loan, but with experian giving me a score that is basically non exsistant what is the point in staying here and just waiting for them to bring my score in line with the other bureau's...I take it you need all 3 of them in a good to fair level score at least to get some decent credit going...  I'll go back to the UK and get a loan tomorrow but my wife and kids will not get in so easily as me. So frustrating is all this credit reporting over here! My wife lost her job not long after I arrived over here and I ended up paying off all her debts and her mortgage to make sure she would not stress out... thinking I would have little difficulty getting new credit up and running after 6 months.... now look at me!!!

[britishexpat]

If I remember rightly, when I first bought into TU online I decided to pull up all 3 cb's only to not get the one from experian.... now when I try and get it online I get the unable to verify info? I have accessed my report by them through annualcreditreport.com and all is right there. I got refused credit a long time back with my bank and they pulled EX then to and the score given was 504... same as it was last week... 7 months later... it can not have been updated or couldit have been frozen?

[britishexpat]

surely the score cannot be the same for 7 months can it?

[ah12345]

It can be if you keep having a lot of hard pulls and 2.5yrs of credit is still consider new also not having a job will be a barrier to get credit.