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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
Start by pulling your full free reports from annualcreditreports.com
Where are you seeing the Equifax and Experian scores? Are you getting them here or from some other place?
Thanks for quick response. Yes I got the report from this site. I requested yesterday, and only Two reports came. TranUnion hasn't shown up yet.