HELP, building credit.

[jordanhand]

Hi I am completely new to this whole thing so any help would be greatly appreciated.

I seriously need to fix my credit as I've completely ruined it in the last 2 years. I've been using credit karma and credit sesame and they have me at 560 and I just applied for a secured card and it told me my score was 456? Which one is correct?

I have 0 credit cards

I have two collection accounts- 1 for $256.00 and one for $996.00 I just mailed a pay for delete letter to each of those hoping to get them taken off.

I have a car lease that ends 3/2015 and I need to get my credit up that way when my lease is over I can get another car.

* I pulled my credit report and I had a car loan for 16,000 that I paid off ( car was totaled) but there was 2 late payments while I was waiting for my insurance and everything and it is saying the account is being reported negatively although it has been paid off with only 2 late payments? Is this correct?

I was completely naïve and did not know that paying things late affected your credit score I thought it was only affected when you let something go to collections. Im 23 and moved out on my own when I was 17 so things are a slight struggle so I do often pay things late. Which I now know have HUGE impact on your score.

Without any credit cards and 2 collection accounts I don't really know how my score is this low, if I start making on time payments for the next year how much will this help?

Any suggestions as of where to start?

[couponcrazy619]

Hi and welcome to the forum.

You will find tons of useful tips on how to get you on your way. If i was you, I would look into getting a Fresh start Program with Fingerhut and also look into getting a sercured CC with your bank or Credit union. If you don't have any of those....look at capital one or I have a merrick bank card. 

Good luck on your jouney 

xx

[jordanhand]

Thank you!!

[nativenyer]

My first credit card was a secured Capital One card.  I then got First Premier and finally Credit One.  A lot of people have had bad experiences with First Premier and Credit One but I pay down the balances every month and I've never been so I've never had a problem.  Credit One actually gave me a $100 increase after 6 months, unasked.

As far as the car loan you can send a GW letter and asked if they would be willing to reverse the lates since there were only two.  That would make the account go positive  From what you have said they are reporting it correctly as negative.

[nativenyer]

Are the two collections medical?  If they don't agree to a PFD then pay it and then do a GW.  This works well with medical collections.  I've never had problems getting them removed.  If not medical you can try the same route.  Fico scores paid and unpaid collections the same.

[jordanhand]

The accounts are from sprint, one is for the phone bill and one is for the actual phone since I did not fulfill the contract.

[jordanhand]

I will definitely try that! Thank you!