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Hello I am new to all of this. Basic overview is in January of this year (2015) I started off with 7 collections and a credit score of high 400s. I paid 4 collections the last of January and they agreed to delete the collections account (I have the letters). I had a Midland collections account and they could not provide me proof that the account was mines I disputed it with the FPBR and they agreed to delete it (I have that letter). As of today the accounts has 1 of 3 deletions but not removed from all 3 credit bureaus. My fico score increased to mid 500's. I applied for a CreditOne account was denied. Applied for Chase was denied. Dropped my score 40 points total. Applied for a CapitalOne both secured ($200 limit) and unsecured ($300). I did accept the unsecured offer but am unsure if I should accept the secured offer. I am trying to purchase a home and need a 640 ASAP. I also have a Capital One auto loan but I had quite a few late notes. I agreed to put the car in my name for my sister not thinking I would be approved because my credit was bad. Low and behold I was approved. SInce her income being reduced I pay the loan and she reimburses me. So I need advice on what should my next steps be to get quick points? Should I apply for anymore credit cards? Thanks for any insight!
@Anonymous wrote:Hello I am new to all of this. Basic overview is in January of this year (2015) I started off with 7 collections and a credit score of high 400s. I paid 4 collections the last of January and they agreed to delete the collections account (I have the letters). I had a Midland collections account and they could not provide me proof that the account was mines I disputed it with the FPBR and they agreed to delete it (I have that letter). As of today the accounts has 1 of 3 deletions but not removed from all 3 credit bureaus. My fico score increased to mid 500's. I applied for a CreditOne account was denied. Applied for Chase was denied. Dropped my score 40 points total. Applied for a CapitalOne both secured ($200 limit) and unsecured ($300). I did accept the unsecured offer but am unsure if I should accept the secured offer. I am trying to purchase a home and need a 640 ASAP. I also have a Capital One auto loan but I had quite a few late notes. I agreed to put the car in my name for my sister not thinking I would be approved because my credit was bad. Low and behold I was approved. SInce her income being reduced I pay the loan and she reimburses me. So I need advice on what should my next steps be to get quick points? Should I apply for anymore credit cards? Thanks for any insight!
have u signed up on credit karma to get a full look at your current credit reports? so u have one cc and auto loan now?
For best scoring you need to get THREE credit card accounts going. These may be secured or unsecured, it makes no difference. Avoid predatory vulure lenders like Credit One, First Premier, Open Sky, etc. Capital One is good - I would go ahead and do the secured card with them.
Try the shopping cart trick