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Rebuilding Credit

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Anonymous
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Rebuilding Credit

Happy New Year all!

 

I'm brand new to the forum and I've just purchased my 3 credit reports to see where I stand. 

 

EQUIFAX - 633

 

TRANSUNION - 587

 

EXPERIAN - 634

 

I have 2 items in collection from 2014. Both items totaling $303. I also have 2 revolving accounts that total $2000 which are credit cards that are currently closed from 2014.

 

At the time I did not have any knowledge of how important credit was. But now that I am trying to buy a home my eyes have been opened into how the world works on credit. I just need some advice from the credit gurus in here.

 

What should I do to make my score improve? I really want to straighten up for the new year and on. I was oblivious to this credit world. Any and all the advice you can give would be much appreciated.

 

I just need to know where to start.

 

Thanks so much! Smiley Happy

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Anonymous
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Re: Rebuilding Credit

You will probably want to open three revolving accounts check the Capital One pre-qual site see if you have any offers you can also open secured cards if you can not open any others.  Bank of America, Open Sky, Discover and others have them.  Without knowing what type of collections you have it is hard to advise but if they are not medical you can try a pay for delete there are examples of letters on this site as well as others.  Keep your utilization on the cards low allow one card to report no more than nine percent and the others report zero this will maximize you scores.  To pay off you account before it reports find you statement date and pay it a couple of days before that date.

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