help...

[Babdah]

Now that every thing is going to fall off next year, what is the best way to bring up my credit score? I read that takeing out small loans of 200 to 300 doller will increse my score but would it increse it enough to be able to by a house in may/june 2012? any advise, my scores are around 526 on all three 3 CB?

[bruiseviolet]

You can purchase the stuff from here or do a search for creditkarma.  MyFico will give you your true fico score and then has a simulator to show what getting credit cards and for how much will do to your score etc...   creditkarma also does this- however they use a FAKO score- but still good to get an idea of what will help bring your score up.  I'm in the same boat- hav e a judgement and other than that it's basically getting some credit to bring my score up.  

[JM-AM]

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@Babdah wrote:

Now that every thing is going to fall off next year, what is the best way to bring up my credit score? I read that takeing out small loans of 200 to 300 doller will increse my score but would it increse it enough to be able to by a house in may/june 2012? any advise, my scores are around 526 on all three 3 CB?

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When next year are they suppose to fall off?

How many accounts are negative?

Are they Collections, Lates, Judgements, Liens, etc etc?

Have you started rebuilding your credit as of yet?

Where did you obtain your scores from?

[Babdah]

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@JM-AM wrote:

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@Babdah wrote:

Now that every thing is going to fall off next year, what is the best way to bring up my credit score? I read that takeing out small loans of 200 to 300 doller will increse my score but would it increse it enough to be able to by a house in may/june 2012? any advise, my scores are around 526 on all three 3 CB?

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When next year are they suppose to fall off?

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Jan 12, March 12, Sept 12, Nov 12

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@JM-AM wrote:

Are they Collections, Lates, Judgements, Liens, etc etc?

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Unpaid loans, so not to sure if they are Collection or lates

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@JM-AM wrote:

Have you started rebuilding your credit as of yet?

Where did you obtain your scores from?

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Yes, I sent out two PFD to two utilty bill that are on my CR but one did not want to hear it so i am going to try again Monday, I have not heard from the other one. My Fico, EQ is 526 and TU is 480

[JM-AM]

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@Babdah wrote:

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@JM-AM wrote:

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@Babdah wrote:

Now that every thing is going to fall off next year, what is the best way to bring up my credit score? I read that takeing out small loans of 200 to 300 doller will increse my score but would it increse it enough to be able to by a house in may/june 2012? any advise, my scores are around 526 on all three 3 CB?

---

When next year are they suppose to fall off?

---

Jan 12, March 12, Sept 12, Nov 12

---

@JM-AM wrote:

Are they Collections, Lates, Judgements, Liens, etc etc?

---

Unpaid loans, so not to sure if they are Collection or lates

---

@JM-AM wrote:

Have you started rebuilding your credit as of yet?

Where did you obtain your scores from?

---

Yes, I sent out two PFD to two utilty bill that are on my CR but one did not want to hear it so i am going to try again Monday, I have not heard from the other one. My Fico, EQ is 526 and TU is 480

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If those 4 dates are all the negatives you have on your reports, once they fall off you will see a decent increase to your scores depending on the rest of your credit profile IMO.

Do you have any revolving accounts (credit cards) open and in good standing? If not you need to apply for a secured card and use it wisely..... IMO

Do you have any installment loans open and in good standing? If not thats okay for now until you start building up your credit profile..... IMO

I would not apply for a mortgage until your scores are in the 600's preferably at least 640 as a middle score, but 620 is usually enough to qualify as of todays market. I do not see you qualifying for a mortgage until all those baddies fall off at minimum and if you have no revolving credit you need to apply and start building history as most underwriters want to see a few accounts open for a minimum of 12 months and some prefer 24 months.