Hello all,
I'm trying to work at some long-term goals, with the intention of building my score high enough for an auto loan before the end of 2012. I currently have a score 645 with limited history.
I have one Charge-Off account with First Premier Bank, which was recently paid in full though the collection agency. Unfortunately, the collection agency popped up my report today, showing the account was paid in full. I'm now disputing with FNB to see if they can remove their defaulted status. Will the Paid in Full status from the collection agency remain on my report or should I try to get it removed?
I currently have one credit card, a secured card Capital One, with a limit of $320, which I've never been late on. I try to carry a low balance on it, to keep the ratios in check, but the low-line of credit seems to also do some harm to the score. I was contemplating moving to Wells Fargo's or CitiBank's Secured cards, with the hopes of being graduated to a non-secure card after 18 months. Is that a smart option? I'd really rather not pour more money into Capital One to increase my limit.
Outside of those two items, I have nothing else outstanding and have come to a mental block on what else to do.
A side note, the collection agency for FNB also noted that I had and outstanding balance from Bally's, for a contract I never used. I was told it was close to $2000, but since it's not on my Credit Report, I thought it would be better to just let it sit. This was from at least 5 years previous, so even if it was put on now, it would only remain for another 2 years. Or have I got it wrong?
I'm 22 trying to make sure this doesn't stall me in the long run. Thanks a ton for any help,
