Established Member
Posts: 60
Registered: ‎10-09-2012
Need advice on pay off cap one card

Little back story....


23, still in college for nursing school, will graduate in May. I finally have a steady job and make good money, but I went through some hard times there for awhile. I have about 13k in fed student loan debts, and about 600 on a cap one credit card that was charged off and closed. My equifax score sits at 569. 


In less than a year(May-July) I'd like to be a point where I can buy a small house (50k), fix it up and live in it with a roommate. The goal is to have a payment small enough that the other roommate or two, will essentially pay my mortgage. I have extensive experience with renovating, so that's not the problem. The problem will be getting the financing. By May or Jun my income should be around 50k. 




1. There are two things affecting me negatively on my report, the first is the cap one card. I believe the debt is still with cap one, but NCO is servicing it. I've recieved a few letters from them. The SOL is 5 years in missouri, and I really can't wait that long. 


Is my first step to send a validate letter? I know it is my debt and it has only been a year. **My goal here is to pay the debt and have it taken off my CR at all bereaus. 


2. The other negative is a card I had awhile ago from commerce bank, it has a 30 and 60 day late. However it is closed and paid now since May of 2011. Do I attempt to remove this? what steps should I take?


3. My student loans are also on my report, and I doubt they are doing me any good. I have never made a payment because I have been in school and don't have to...are these affecting me in a bad way?


4. I've read about piggybacking cards, as in getting my self added to CC as an authorized user. That way it shows history and debt/credit ratio. Is this a good idea? Any tips? I can be added to a few cards my parents never use and my grandpa(who I'm sure has massive massive credit limits). 


According to equifax, my amount of debt, length of credit, and type of credit are poor. my payment history and new credit are fair. 


BTW I own no other cards.


Here are the screen shots! Any help is appreciated!