Rebuilding Your Credit

[taylor711]

I need help. My current credit score is 578 (EQ), my goal is 680. I have one Capital One credit card with a $200 limit, that I opened in 02/2011 (never late). I just opened a 1st Primer CC with a $300 limit (never late) . I cosigned on a auto loan in 2010 and the car was repoed in 2011. Its now a charge off. I also have a lot of inquries(33) when I was car chopping. I have a auto loan with Capital One that I opened in 02/2012 (never late) however, my score just doesnt seem to be moving. Any Advice to help me speed up the process?

[annielorie]

do you have any other baddies or any judgements lat es on your reports?  Also who did you cosign for family or friend

[taylor711]

I cosigned for a family member, nothing else bad..

[llecs]

The new accounts are a drain on your score. Give them a chance to age and avoid applying for anything.

The repo is recent, relatively speaking. Once you have 100% saved up, try sending a PFD to the car lender (you can always offer a settlement).

Get one CC to report $0, and get the other to report a balance of under 9% of the CL.

[taylor711]

I just remembered I had a $500 loan that I opened in 2008. There were some slow payments at that time, but the account was paid and closed.

[annielorie]

Send a goodwill to remove any derogs from that loan since its paid and closed they may GW it.  

[Shogun]

Hello and welcome to the forums.

You have 2 issues that are dragging your scores down.

1.  Too much bad credit

2.  Not enough good credit

I would suggest that you go to www.annualcreditreport.com and pull your CRs.  That way you will know exactly what is on your reports.  Then you will need to start cleaning and building a health CR.