Trying To Get My EQ To 700. Would This Work?...

[Anonymous]

Is your CO paid, or unpaid? If unpaid, it will haunt you for a little while and I'd highly recommend a PFD. Small collection companies are pretty good with PFD, although they're usually not so great with settling for a lower amount. I think most of us can afford $200, so, it'd be worth it on your credit if it's not taken care of and you have the ability to do such. As for the rest, I think you should pay your utilization down to 9%, and you should see a sizable jump in your score. From there, apply for a REAL credit card, and ask your secured companies about the possibility of making your accounts unsecured & with higher limits. I could easily see you getting into 700's after that...

[jbh]

Paying end of this month , the $204 utility collection. Will likely update sometime in late Sept or Oct.

Message Edited by jbh on 08-23-2008 07:00 PM

[jbh]

Oh, it was mentioned earlier to get a new account. I am actually holding tight for Penfed. Once the baddie clears up and I see 700, I am going to apply there asap. That's my goal. I would reach them when there is a clean file, 1 year on at least 1 card and only 2 inq's in *2* years. If they say no, lord help me.

The idea is I want to use my fresh inquiries on EQ to my advantage and take advantage of a higher score. Since Penfed is highly regarded, I'd rather start small and build a relationship with them in early 09 and then, later in 09, prove to my bank (BoA) That I am worth a real card. 2 cards before I get my car loan is all I care to have.

Message Edited by jbh on 08-23-2008 07:01 PM