Just getting started...so I need any advice

[Anonymous]

I am trying to rebuild my credit. I have read about other success stories but I can never just get there. Earlier this month I just recently signed up on this website because I wanted to see how my creditors were reporting and how it was affecting my credit score.

At this time my credit scores are: EQ 569 TU 600 EX 595 (just went down today from 603 8pts...due to my mortgage was paid off)

When looking at my credit report I am showing I have:

2 collection accounts w/Speedy Cash (500.00 & 657.00)

CA w/GE Capital Retail Bank 630.00

CA w/Cap One CC 750.00

I sold my house last month so I am not sure if this will have a negative impact on my credit score.

August of last year I started my journey into repairing my credit and boosting up my credit score but to no avail it didn’t do much. I paid in full 1 medical bill which they company deleted it from all 3 credit bureaus, Comcast (through a CA) I paid in full but they are still reporting on my credit report I asked them to take it off and they told me they couldn't I would have to Comcast directly and see if they would delete it, and TXU energy paid in full to TXU directly but they wasn't taking it off.

Any advice will help me greatly on how I can boost my credit score up and help me get some of the collection accounts off my credit report.

[ezdriver]

How many active tradelines do you have ... other than your mortgage which is going away?

You need three or more ... with positive payment histroy for 12 or more months before you will see substantial improvements. Also, I discourage people from fixating on scores. instead, I encourage people to focus on building a robust credit profile and work it for 12 or more months ... patiently. Remember that scores are the results of a good credit profile. You cannot really improve you credit profile by trying to manipulate scores.

Have you pulled your three credit reports from annualcreditreport.com? If not, then do so and fix what you can on it until you can do no more. At the same time, get a few tradelines working for you.

[Anonymous]

Thanks ezdriver....

Excuse me for my ignorance since I am new at this but what is tradelines?? If I think you are speaking of revolving credit. I am financing a car which I will be through paying off by the end of the year. I have a first premier cc I am paying monthly which only has a 250.00 cl. I have had this card for almost 10 years. That's about it. 

I have pulled all 3 off my credit reports by pulling them I had a Chase CC which was in CA and I made a settlement with them and paid it off. 

What type of tradelines should I get? 

[Anonymous]

Excellent advice there from Ezdriver. Also that Cap One CC - is Cap One reporting that as a charge off with a balance?

[Anonymous]

---

@Anonymous wrote:

Thanks ezdriver....

Excuse me for my ignorance since I am new at this but what is tradelines?? If I think you are speaking of revolving credit. I am financing a car which I will be through paying off by the end of the year. I have a first premier cc I am paying monthly which only has a 250.00 cl. I have had this card for almost 10 years. That's about it. 

I have pulled all 3 off my credit reports by pulling them I had a Chase CC which was in CA and I made a settlement with them and paid it off. 

What type of tradelines should I get? 

---

Yes, he is referring to CC accounts. For best scoring you need to have three CC accounts active. I would suggest apping for a Capital One card, secured if you get turned down for unsecured.

Are you carrying a balance of your FP card?

[Anonymous]

Yes

[Anonymous]

Yes I am carrying a 125.00 balance but I have excellent payment history with them. 

[Anonymous]

Get that balance below $25 and you'll see a score increase.

[Anonymous]

Ok...thanks NormanFH

Also what are good CC for me to start off with to increase my tradelines? 

[Anonymous]

---

@Anonymous wrote:

Yes

---

Yes the Cap One charge off is reporting a balance? How old is this charge off?