Rebuilding Your Credit

[Michelle27]

Ok, i was approved for the BoA 99/500 card, well i have several collections and want to know if this is a good idea to do, here is what is all on my report:

$144 doc bill (old)
$189 comcast bill (new this year)
$138 att bill (new this year)
$357 doc bill due to fall off 12-2008
$886 Credit card due to fall of 1-2009
$854 cingular bill also due to fall off 1-2009

Ok i am thinking of using the $500 to PFD the
$144 doc bill,
$189 comcast bill,
and the $138 att bill,

Is this a good idea to do with the BoA 99/500? Any suggestions would help thanks

[HappyDays]

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Michelle27 wrote:
Ok, i was approved for the BoA 99/500 card, well i have several collections and want to know if this is a good idea to do, here is what is all on my report:

$144 doc bill (old)
$189 comcast bill (new this year)
$138 att bill (new this year)
$357 doc bill due to fall off 12-2008
$886 Credit card due to fall of 1-2009
$854 cingular bill also due to fall off 1-2009

Ok i am thinking of using the $500 to PFD the
$144 doc bill,
$189 comcast bill,
and the $138 att bill,

Is this a good idea to do with the BoA 99/500? Any suggestions would help thanks

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What is your SOL?    doc bill $144...what is old?      need DOFD/DOLA

Who is reporting the comcast bill...the OC or a CA?

att.  is this attorney or att phone?   who is reporting?

[Michelle27]

My SOL is 7 years, The $144 doc bill is an old collection from 2004, Date Opened: 08/2004 Date Reported: 04/04/2008 CA is reporting the comcast bill At&t is the phone company CA is reporting this, sorry i didnt make this clear in the first post hope this helps thanks!!

[Michelle27]

Anyone?

[Timothy]

IMO- No

Save the $ up and PFD them

Don't max your CC to pay them.

[Michelle27]

Would it not look good if i charged say $450 and paid on it monthly? is that not a good idea?

[ByrdMan]

That's 90% uti. So, if you are prepared for a big score drop, go ahead. Make sure you have a PFD on these before paying them. Are you going to need to app for anything soon?

[Michelle27]

Wow i didnt know that, how did you figure that? well what if i charge 1 collection to my credit card, then immediately pay the credit card off and just do it 1 at a time, would that be better? no i dont need to apply for anything i was lucky to get the BoA 99/500 card.

[ByrdMan]

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Michelle27 wrote:
Wow i didnt know that, how did you figure that? well what if i charge 1 collection to my credit card, then immediately pay the credit card off and just do it 1 at a time, would that be better? no i dont need to apply for anything i was lucky to get the BoA 99/500 card.

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450/500=.90 (90%). If you do that one at time thing, make sure you pay off MOST of the balance BEFORE the statement cuts and then pay off the balance in by the due date. This will help your scores to go up, as opposed to down. Then lather, rinse, repeat for the remaining ones.

[Michelle27]

Do you think i should even use the card? is that possible? should i just keep it for emergencies will that make my scores go up?