Only 3 open account left on credit reports deferred Student loans until 2012

[Anonymous]

My Equifax FICO is 606, after settling and paying all of my charge offs. Everything with the exception of Experian is showing accurately with all 3 credit bureaus.

 Initially I started off at a 503 Equifax FICO. I have a prepaid card that I use and have money sent to it through my payroll, and my bank debit card. Does anyone know how I can raise my FICO with only having 3 open non active accounts? I really don't want to apply for a credit card, any other options?

[llecs]

What are your 3 open accounts? The SLs?

If you have no CCs reporting on your CRs, your FICO score is taking a hit. I too had no CCs at one point. I didn't need any. But I did learn after adding the first 3 that my scores shot way up. You don't have to be in debt to have a CC. You can always opened a secured CC somewhere, and the limit doesn't matter either. You can always get one for a couple hundred and you'll see a large gain provided you don't charge up the card and have that balance report. You can always PIF and then shelve the card for a while and then use it again for a cup of coffee and then repeat the process every 3-4 months.

[Anonymous]

Yes they are student loans, I currently work full-time and am in school full-time, so all of them have been deferred until 2012. I'll look into a secured CC then. Thanks for the advice.

[MarineVietVet]

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@Anonymous wrote:

My Equifax FICO is 606, after settling and paying all of my charge offs. Everything with the exception of Experian is showing accurately with all 3 credit bureaus.

 Initially I started off at a 503 Equifax FICO. I have a prepaid card that I use and have money sent to it through my payroll, and my bank debit card. Does anyone know how I can raise my FICO with only having 3 open non active accounts? I really don't want to apply for a credit card, any other options?

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Even though you paid those charge offs they are still hurting your score the same as if they were unpaid. You'll need to try and get them deleted and that will help also.

From a BK years ago to:
8/09 TU-765 EQ- 783
9/09 EX pulled by lender 802
3/10 EQ- 800

You can do the same thing with hard work

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[Anonymous]

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@Anonymous wrote:

My Equifax FICO is 606, after settling and paying all of my charge offs. Everything with the exception of Experian is showing accurately with all 3 credit bureaus.

 Initially I started off at a 503 Equifax FICO. I have a prepaid card that I use and have money sent to it through my payroll, and my bank debit card. Does anyone know how I can raise my FICO with only having 3 open non active accounts? I really don't want to apply for a credit card, any other options?

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do not apply for credit cards. secure credit cards works best, deposit the min at each financial insitution that offers secure credit cards. charge something small, pay the min before its due and pay the rest the next month. repeat the following every other month. and get a secure loan, its an account used as collateral. that you pay every month. you're score should skyrocket.  as for the charge off's, do not pay em. it does not do any affect to your score once paid, just let time do its part and for the SOL expires.