Seem to be stuck at 650

[Anonymous]

I have been trying to repair my credit now for a couple of years. I keep hitting a 650 score ceiling despite everything I do. I just pulled my credit report this morning and it shows only 4 "adverse" accounts. Two of which I paid off awhile ago, and the other two are current child support orders that are shown as "collections" instead of monthly installments.

I have 4 cc's, all with low limits ($2k or under) and I want to boost them up. I have asked for increases but have been shot down so far. I would also like to purchase a new motorcycle next summer and need to get my score up for that as well. I have made all of the payments on time for the cc's and try to keep under a 20% total usage across the board.

Any advice on what I can do?

[Whitneyy]

Hello and welcome.

What is your utilization on your reports looking like? Also for your adverse files, since you paid them, you can try to GW them to get them to remove the tradeline as a whole. 

[Anonymous]

The report I pulled this morning didn't have a utilization total on it. I can tell you that I am using 21.29% of my available CC credit though as well as a loan for $5k, that is all the accounts I have open. 

What is GW?

[Whitneyy]

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@Anonymous wrote:

The report I pulled this morning didn't have a utilization total on it. I can tell you that I am using 21.29% of my available CC credit though as well as a loan for $5k, that is all the accounts I have open. 

What is GW?

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Goodwill. 

[elim]

If you don't have any "non-mortgage" installment loans...

I went to my local credit union and got a share secured loan that didn't put me out any cash and it gave me a 25 point boost across all 3. You can do a 1k/12month and have 1 payment left just about the time you apply for your bike.

You walk in with 1k, they write the loan for 2% and hand you back a 1k check, then as you pay each month, it free's up that much cash from your deposit account for immediate withdrawal (or you could just make the $85.00 monthly payments and leave the account alone and have 2k for your down payment ready to withdrawal next summer. I used Southeast Fed Credit Union and they specialize in bikes, boats, ATV's etc. (1%/1year, 2%/2 year, 3%/3year, etc). So if you establish that relationship they may actually write your bike loan next summer.

       Good Luck!

[bdhu2001]

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@Anonymous wrote:

I have been trying to repair my credit now for a couple of years. I keep hitting a 650 score ceiling despite everything I do. I just pulled my credit report this morning and it shows only 4 "adverse" accounts. Two of which I paid off awhile ago, and the other two are current child support orders that are shown as "collections" instead of monthly installments.

I have 4 cc's, all with low limits ($2k or under) and I want to boost them up. I have asked for increases but have been shot down so far. I would also like to purchase a new motorcycle next summer and need to get my score up for that as well. I have made all of the payments on time for the cc's and try to keep under a 20% total usage across the board.

Any advice on what I can do?

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You also state that you have two child support orders that are showing as collections instead of current. Contact your local CS agency for a letter and also dispute the inaccuracy with the CBA's.  I  would tell you to get the letter from CS stating you have been current since_____ or paid as agreed, but CS the case worker probably isn't allowed to submit that type of letter and to get it may take some time.  Here's the e-mail address to the CBAs try the dispute route.

On line disputes address for  credit Bureaus

Experian

http://www.experian.com/disputes/main.html

TransUnion

https://dispute.transunion.com/dp/dispute/landingPage.jsp?src=disclosure

Equifax

https://www.ai.equifax.com/CreditInvestigation/home.action

[Anonymous]

I went through the Transunion online dispute portal you have linked earlier today and marked all of the "adverse" entries as incorrect information. I guess we'll have to see if that helps any. Transunion seems to be the worst of all my scores so far with them at 604, Experian at 670, and Equifax at 647.

@elim: I will take a look into the credit unions around here to see about an account. I have been looking elsewhere since my bank that I have now shot me down for a motorcycle loan after having a savings and checking account with them for 5 years with a minimum balance of $2k on either during that time period.

On the topic of the GW letter, would I send that to the creditor listed as a negative or would I send that to Transunion?