@eyeswideshut wrote:Hi, I'm new to this board. I have made dumb mistakes my entire life. I am finally fed up with not having good credit. I tried applying for a secured credit card today and was denied. I really just need to know where to start. My car recently got repossessed also. So I have no credit cards, no bank accounts, no car. I can't get an apartment through a broker because my score is bad and I have a judgement against me from a previous apartment complex. I would like to buy a house, get a car and be a normal human being! I just recently got a new job paying good money. Someone please help! Just need to know where to start.
Thank you!!
Calm down, first.
You will always find someone who is/was worse-off then yourself. The very first thing you need to do is get your credit reports and post up the details on the forum so we can help.
A couple of guidelines:
1. Stop applying for stuff. You're only causing more damage.
2. This will take time. Rebuilding DOES NOT happen overnight.
3. You WILL get frustrated, discouraged, pissed off, etc. Just remember, you got yourself into this, now you have to get yourself out.
You definitely need a checking account. I know I often think to myself how I managed 14yrs ago without one. It sucks, get one.
A local CU would be your absolute best bet imo.
They are much more understanding and forgiving imo.
Good luck.
We're all here to help each other.
I've recently started rebuilding myself after originally joining here a little over a year ago with my credit score being a meager 557 - and now I'm sitting at a 580. Rebuilding takes time so, patience will be key here - this doesn't happen overnight. Like previous posts mention, try posting some details on your current financial situation - like DOFD or last activity on your derogatory marks/accounts.
In regards to where you should start...
First you need to open up a Checking / Savings account. Try researching some local Credit Unions in your area as they are there to actually help people in our situation. A local credit union is ideal, because you can actually grow a relationship with them. Stop applying for credit as more inquiries make your credit profile look even worse! Which secured credit card did you apply for? Some secured cards have tougher requirements than others - just because it's secured doesn't mean anyone can get it. The secured card from SDFCU is highly regarded on these forums - and if you don't want another hard pull on your credit, try the OpenSky secured card. Another suggestion that I took myself is applying for the Fingerhut Fresh Start program. You'll start out with a low line of credit through Fingerhut - an online retailer. Once you pay off one of their items through a simple installment loan, you'll automatically graduate into a revolving line of credit with them (like a store card).
Manage your secured credit cards responsibly while never EVER letting your utilization go over 30% - ideally you should try to keep them around 10% and pay off your balances to avoid paying higher interest rates. Keep this up for awhile and you should see improvements over time. Try to work on the bad marks in your credit file. Be patient and don't get discouraged!
