07-14-2013 06:13 PM
Hello guys I am new to the board but have done a little reading on it. I use credit karma and free creditreport.com and don't understand why I have so many different scores. Which ones should I be looking at? I want to by a new car later this year and want to wait till I can get a better interest rate. I have a 2004 with over 130k on it and need something that's not a money pit. I bought my first house last year in August with a 3.24 rate but my current car loan is about 17%. I have cleared all old debts except one that's says missed payment and also reads paid in full at the same time. I wish it would just come off. I have some credits cards with low CL but the problem I'm having is they say I don't have enough long credit history, to many new open accounts, don't have a high average of credit limits over 2000. I have been working on my credit for 1.5 years now and don't seemed to be getting anywhere.
07-14-2013 11:30 PM
Hello everyone! My name is Sheri, and I have crappy credit.
However; I am trying really hard to improve my score! My husband and I don't have a lot of debt at the moment (no car payment, we rent our house, no credit cards, etc.), just a lot of medical bills due to him having Crohn's Disease and lots of hospitalizations, and me having to have tests run every 3 months.
We do have past debt, a few credit cards here and there, late payments, etc., and it's hurt us tremendously. My score sucks. I need to fix it!
So yeah, here I am
07-16-2013 09:23 PM
Hello everyone, my name is Javier and I'm delighted to have found this awesome site. I just recently got approved for a NFCU nRewards card with a $7.5K CL, I'm still in disbelief. My goals are to buy my first house in the next 2 years, I plan to achived this by continue what I have been doing and write a couple of goodwill letters. I'm still not sure if it is too early to refinace my car with NFCU, I'm making a $517 monthly payments since March 2013. What is holding me back is that I have too many HP since March 2013.
07-17-2013 02:28 PM
07-18-2013 11:08 AM - edited 07-18-2013 11:17 AM
just want to say ty for all the useful information here. i've decided to create a credit file for several reasons late last year:
* i have a 2 year old son and will want a house within a couple years.
* i want several credit lines to fall back on should i need to.
* get an auto loan within a year for a nice car.
heres my backstory- i decided to work on my credit for the first time in my life in 2009, after i saw my credit report for the first time, it had about a dozen collections and no good news. i read a little and found out that debts fall off after 7 years and noticed 3 or so that this would happen to so i focused on the others. i payed or settled for all the accounts over the next 1/2 year and decided to let 2 or 3 fall off in the next couple years. i was pretty happy that i took some initiative in repairing my credit somewhat because i never thought much of my credit and wouldnt care if a 3 year gym membership i couldnt get out of or a dental bill was on my report, i just didnt think about that stuff. i didnt do much else i guess bc i didnt really know much about credit so i didnt think about it untill late last year when i was just feeling i should organize a lot of aspects of my life. one of the things i wanted to do was get myself ready for a future as a responsible parent and having a good credit file and some good tradelines.so i started searching for info and after reading my credit report i found 3 collections. 2 about to drop off and 1 which i am in the process now of trying to get PFD. if this doesnt work soon i may try to just pay the amount and hope i can gw it off. i decided after some research to get a cap1 card and got the min. $200, i then applied for a barcley bc my transunion was unusually high compared to my other scores (720 or something?) but i was denied. i came to realize this was bc i hadnt had a credit card since college and i needed at least 6 months to have an official credit score. i also couldnt get a report here at myfico bc i didnt yet have 6 months history. so i got a HP for the barclays for nothing. later found out my TU was high bc my sister had put me on as an AU back in 93 when i was in high school, and we both just forgot it was there but since getting the cap1 card it has dropped to closer to what my other two scores are.
my current situation- i am itching to get some revolving accounts on file as i now have 7 months history. i have a low income atm of about 2k/month but i am sure i can get that higher over the next year. i have 650-670 scores and think i should be able to qualify for a few. if i take a few inquiries it shouldnt matter 1/2 year to a year from now. on the upside if i have several TLs open and keeping low util i think my score should be higher in a year than just sticking with a cap1. plus if i can get some CLI on these accounts then i have a good shot at getting some decent CCs in a year. giving me a year or so to put the final touches on my credit after that and be ready to take out a mortgage. thats a two year plan but the first half is pretty simple for the next year.
additional information- through researching this and other forums i have found a few cc's that i may have a chance of getting as there have been people posting about being approved with similar credit to mine and even worse credit getting some. some of the cards are store cards . i think i will apply for a walmart card, an amazon card, and a target card. as far as cc's i will apply for the cap1 quicksilver before anything else as on the site it explicitly says theres one for excellent credit and one for avg. credit. after that im thinking of either barcleys as i now have an official fico and my tu is slightly higher,that plus it seems to be the easiest to obtain for avg credit according to many threads or an NFL visa. i figure none of them will have very high limits but thats fine. in 6 months from now i will have 1 year on my initial inquiries from december and 6 months on these inquiries. i may get some CLI along the way but 6 months from now i believe i will be around 700 fico and should be able to get CLI on a few cards. i may also apply for dcu at some point and keep a small balance with them in case i want to apply for a CU TL at some point as everyone seems to love them.
-HAD BAD CREDIT 4 YEARS AGO TONS OF COLLECTIONS. PAID OFF MOST WAITED FOR A FEW TO DROP OFF.
-IN DEC 2012 GOT 1ST CC. CAP1 AND WAITED 6 MONTHS TO HAVE AN OFFICIAL FICO. DURING THIS TIME 2 COLLECTIONS DROPPED OFF, HAVE 1 WHICH WILL BE PFD OR PAID AND GW. CREDIT SCORES WERE AT 550 EXCEPT TU WHICH WAS UNUSUALLY HIGH AND NORMALIZED SOMEWHAT AFTER THE CAP1 CARD.
-JULY 2013 CREDIT SCORES BETWEEN 650-670 HAVE AN OFFICIAL FICO SCORE.
-GOALS- WANT A GOOD CREDIT FILE WITH 720+ SCORES AND GOOD CC'S. WANT TO BE ABLE TO GET A GOOD MORTGAGE IN 2-3 YEARS.
ps. i used the credit simulator and it seems that in 3 months time my score should bump up almost 30 pts for on time payments. it doesnt go up any higher for any other setting more than 3 months. so im assuming that sometime in the next 3 months i will have passed some fico scoring milestone. i may get to 700 faster than i thought!
07-19-2013 11:03 AM
Hello everyone. I'm Amanda and I have crappy credit. I suffer from generalized anxiety disorder and struggle with depression. When I'm depressed, I tend to buy things to make myself feel better. This landed me with 4 maxed out credit cards and hardly a way to pay them back since my hours were suddenly cut at work and I haven't been able to find a second job. I never pay late, but I only pay the minimum. I'm now left with an awful score and over $4,000 of debt. My goal is to get my credit score to at least 700 (eventually...) and rid myself of most of my debt. I don't even qualify for secured cards anymore!
07-20-2013 07:17 PM
I DID IT!!!!!
REFI HERE I COME!!!!
|Alert:||Your FICO® score has exceeded your target score of 620|
Score Watch alert/Changes to your FICO® Score
|Your FICO® score has gone up to 625 on July 20, 2013.|
|Target score alert:||Your FICO® score has exceeded your target score of 620.|
07-21-2013 08:41 AM
A little late to the game. I started in Feb 2013 with the inabaility to even run my MyFICO score, due to lack of current history. I was sitting with about a dozen collections and no current active cards.
1) clear court judgements
2) payoff collections
3) score above 700 by EOY
4) obtain vehicle loan
8/12 paid and removed
just last month (per credit sesame) my score jumped 37 points to 678.
overall debt in collections left $3500
07-22-2013 07:26 PM
I seem to be stuck in the mid 650's. Nothing negative on my credit for at least 4 years, and a bunch of new accounts opened all with on-time payments.
Amex Green Card - CL $NPSL
Chase Slate - CL $1500
Capital One Classic - CL $1000
Capital One Cash Rewards CL $1000
Barclaycard Financing Visa - CL$3000
Macys - CL $2000
No installment loans and a vehicle lease.
07-23-2013 11:40 AM - edited 07-23-2013 11:44 AM
Since I've found this forum, I've become obsessed with my credit. I couldn't even sleep last night lurking about in the various areas.
Currently have CapOne Platinum Visa, unsecured with a $450 limit and a Wells Secure card with $1,000 secured limit. Burned HSBC & CapOne about 5 years ago, as we got caught up in housing slaughter. Leasing a Volt from Ally and Wells Dlr Svcs financed my other car--car loan credit is stellar. Old collections are killing me.
So glad I found this community--you guys rock!
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO