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Ok, so, I have had bad credit for as long as I can remember. I made poor decisions in my early AND late twenties....so here I am, 31 years old, with nothing to show (equity wise) for it. Last July I purchaced a car with ridiculously high interest (28%) just so I could start to make some good credit moves. Its now May, and I haven't missed a single payment! I just applied for a secure Visa with Capital One a couple of days ago....I was required to put down a 300 dollar security payment. Done and Done. I'm really stoked to start increasing my credit score so that I can hopefully get a mortgage approval sometime in the next 2 years. My current equifax score is 480 (ashamed) and my transunion score is 573. I would like to see both go up to 660 - 700. My car interest was recently dropped to 18%, and they told me by the fall it would go down to around 8%. I hope i'm doing everything I can. Does anyone have any advice that I should be doing in the mean time???
Good for you! Many of us have been in your shoes. One of the hardest parts is just facing your past mistakes - it sounds like you have done that. Now that you know what a hassle collections, late pays, and high interest rates are, you can use that to motivate you to keep plugging away at it! Good luck!