Hi,
Thanks for reading my post.
I have posted this thread in another section of the forum, and was told this Rebuilding Section is a better place for my problem.
I am very new to the forum and trying to learn some knowledge and experience to re-build my credit.
My current Equifax score is 710, and Experian is very low 588. (not sure why the difference is so huge)
Here is my situation:
I have only had 2.5 years credit history from my car loan and I have paid it on time. Currently still owe about $4000. About 1 year and half ago, I moved from Oregon to Texas for new a job after graduation. During that transition, I missed one payment to the previous apartment's cleaning fee (some dog pee damage) . I was very dumb and stupid that I missed this payment, and it went to collection. And I didn't negotiate, but directly paid off once I found it out. So , even after I paid it off, it still effected my score and it dropped hard.
In order to kinda fix this problem, I opened a credit card 2 months ago, and start to use it for some small purchases, and pay it off right away on time. And also, as I have mentioned, still have the car loan about $4000, that I pay it monthly on time.
Questions:
1. Is there any suggestions?I know it does not have short cuts to rebuild score, but it should have better ways / habbits to do so. Please let me know what you would do in this situation. Any input is appreciated.
2. Why the Experian and Equifax has huge difference? I know even I paid it off, it still stays on the report for 7 years. Just curious if there is anything I can do about it.
3. I have read some of the posts here about credit repairing companies. And some suggest we can do it by ourselves. As a beginer, I do not know where to start first. Just curious if I can bring some data here to find some suggestions? Or is there any good company I can consult with. And how much I'll have to pay them?
4. I 'd like to ask about the credit report (from Myfico ). In the Experian report (score 588), there are 4 baddies:
a. You have a public record and/or collection on your credit report. --> Even a paid off collection will stay there, if I understand it correctly
b. You have few accounts that are in good standing. --> I only have one credit card, should I apply a couple. What is the strategy or purpose to do so?
c. There is no recent activity on your credit cards. --> I do have transactions on the card. Is it a delay since I got my credit card not long ago?
d. There is no recent activity on your revolving accounts. --> Not sure what this means? I pay my car loan on time ever since I got the car. Should I pay more, or may be there is a mistake?
Thanks again, I appreciate any help
