Rebuilding my credit

[Anonymous]

Hi everyone,

I had a few questions in regards to building my credit up and was hoping some of you could help me. First off I'm the only one in my family with bad credit so none of them have any real advice for me. I'm 24 years old and according to credit karma my score is 584. I have no derogatory marks, the Ohio attorney general has a bill from the University of Cincinnati I owe but apparently it isn't being reported? First I'll jump into that, I didn't withdraw from my classes and owed the money. I wasn't working at the time so I made no payments unfortunately, UC sent it to collections which I had no idea so I didn't make any payments and it was then sent to the attorney general.

Second when I was 18 I maxed out a credit card which was sent to collections. I also had a phone bill sent to collections the same year. I paid both while in collections. According to credit karma I have four hard inquiries, two that were added and one removed. know one was for when I moved out, the other two were from Capital One for a credit card and one from Walmart for their store card.

I've paid my rent late twice in the past year by 10 days. My phone, electric, car insurance, credit card bill and internet have all been paid on time. Yet my credit isn't improving. I list all these because I don't know what exactly is reported.

I really want to get my score up at least 100 points as soon as I can so if anyone can give me some pointers and advice I'd greatly appreciate it.

Thanks

[Anonymous]

Bump

[basballguy]

Who Dey!

Franchise Andre Smith

Let Michael Johnson walk

Draft a Safety 1st Round

Draft a RB 2nd round

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On topic....Utilization is probably where you'd see your biggest impact.  The lower your CC utilization the better.  Take a look at this thread for full details on how FICO scoring looks and how credit karma compares to "real" FICO scoring:

http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Credit-Scoring-101-START-HERE/m-p/8169

As far as collections and such, you can "Pay for Delete" PFD which is esentially paying the collector in full to delete it off your credit report....usually requested in writing...that helps a handful of points at a time.  Slow process, but it works! 

[Anonymous]

Who dey!!!

Keep Andre and MJ both please

I know credit karma is a load, I'm just using it as a guideline so to say. One question with the "PFD", what if my balances were paid in full? I'm fairly certain I paid them in full is there a way to find that out?

I've just brought my credit card down to a $10 balance after it was near my limit (300), and I plan on keeping it under the 35% I keep hearing about. Sorry if I sound like a total "noobie" but I am

[basballguy]

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@Anonymous wrote:
Who dey!!!

Keep Andre and MJ both please

I know credit karma is a load, I'm just using it as a guideline so to say. One question with the "PFD", what if my balances were paid in full? I'm fairly certain I paid them in full is there a way to find that out?

I've just brought my credit card down to a $10 balance after it was near my limit (300), and I plan on keeping it under the 35% I keep hearing about. Sorry if I sound like a total "noobie" but I am

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If your collection balances are already 0 and your utilization is already less than 10% but greater than 2-3%....then the next step people do is sending "goodwill letters".

You basically send letters to The Man asking him to remove the collection from your report as a sign of "good will".  They got their money....so you just ask and ask and ask.  Sometimes it works....but 90% of the time it doesn't work. 

Depending on the Bank/Collection Agency/Vendor/Whatever you can search through these forums and find some tricks for some of the ones that appear on your credit report.

[Anonymous]

Awesome thanks so much for the advice I really appreciate it! I'll definitely be doing this and checking back in!