Trying to Rebuild My Credit

[Dj4Money]

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@Anonymous wrote:

Also having credit card limits under 2,000 can hurt your credit - credit limits being too low was something that was always coming up on my credit report. When my card was secured, I would increase the limit by $100 every month I could. It took almost a year, but I got it up to $2,200 and my scores took a 15 - 20 point jump (depending on the CRA) the month I increased it over $2k (went from 1,800 to 2,200 in one shot). That probably won't be a fast fix but knowing that it's something to work towards will help you get there. 

Like the others already said, the most recent items are hurting you the most, deal with them first. All but one Med collection I had did paid for deletion, and said they delete as curtosey once paid in full, I asked for it over the phone, didn't get PFD's, and they all followed through. I would definitely ask for a PFD letter though and get one in writing if you can. 

Also look to see which items are reporting to all 3 bureau's - dealing with those first instead of a collection that is reporting to only 1 bureau will help you more because it affects all 3 scores and not just one. 

My credit was worse than yours 1.5 years ago and now I have lender pulled scores at 680's. Getting the recent collections off, raising your credit card limit but keeping utilization low, and making the payments on your open trade lines on time will help you most. If you don't need your credit right away, let the car fall off, if you do need it though and you can make arrangements to PFD it might be worth it.

Good Luck

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 That's interesting about low limits.

 Right now I have a Capital One secured card with $200 balance (for $99 + I paid the annual fee in advance). I thought it might be useful to use it constantly and add to the balance every month or so to increase overall credit availability.

 First goal is to get both over $300 so I can use them for rentals and holds like at hotels. Next is to continue to increase so I can pick up some needed things I have been putting off because I was preserving my cash to get these secured cards in the first place.

 The other card is a SDFC secured card, I should have it in a week or so.

 Are you suggesting I get either or both cards up to at least $1,000 even if Capital One is raising my credit limit anyway?

[MarineVietVet]

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@Anonymous wrote:

Also having credit card limits under 2,000 can hurt your credit - credit limits being too low was something that was always coming up on my credit report. When my card was secured, I would increase the limit by $100 every month I could. It took almost a year, but I got it up to $2,200 and my scores took a 15 - 20 point jump (depending on the CRA) the month I increased it over $2k (went from 1,800 to 2,200 in one shot). That probably won't be a fast fix but knowing that it's something to work towards will help you get there. 

Like the others already said, the most recent items are hurting you the most, deal with them first. All but one Med collection I had did paid for deletion, and said they delete as curtosey once paid in full, I asked for it over the phone, didn't get PFD's, and they all followed through. I would definitely ask for a PFD letter though and get one in writing if you can. 

Also look to see which items are reporting to all 3 bureau's - dealing with those first instead of a collection that is reporting to only 1 bureau will help you more because it affects all 3 scores and not just one. 

My credit was worse than yours 1.5 years ago and now I have lender pulled scores at 680's. Getting the recent collections off, raising your credit card limit but keeping utilization low, and making the payments on your open trade lines on time will help you most. If you don't need your credit right away, let the car fall off, if you do need it though and you can make arrangements to PFD it might be worth it.

Good Luck

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May I ask who supplied that report?

I ask because that doesn't sound like any comments a FICO generated report would have. FICO doesn't look at credit limits; only the percentage of available credit being used at any one time.

[Anonymous]

update I got 4 collections removed since my first post this is all i have left

charge off for auto loan of $1197 dofd is 8/2009

1 medical collection for $1497 dofd is 12/12

1 medical collection for $272 dofd is 12/12

which one of these 3 should i attack next 

[Anonymous]

I would start with the smaller medical collection.

[Anonymous]

i was thinking that too but those people wont pfd they will just update it to paid said something bout thier contract with the oc doesnt allow them to delete

[Anonymous]

Tell them your contract with your wallet doesn't allow you to pay unless it can be removed 'somehow'.

[Anonymous]

Seriously though, you might try contacting the OC, and trying to work directly with them. Give them a good story for how it went unpaid, and that you want to pay it but you will only pay them directly and only if they first recall it from collections.

If they try to tell you to contact collections, ask for a higher up, supervisor, manager, whatever.

[Anonymous]

the funny thing is i contacted the oc and they closed down for good no longer in business she told me to call the ca they have the debt so im stuck with aholes

[Anonymous]

Well, use that info as leverage. If the OC is no longer a legal entity, any 'contract' they may have had *should be* null and void.

[Anonymous]

so since the hospital closed down your saying i should be able to use that against the CA