topic Re: Alternate ways to increase credit scores fast! in General Credit Topics

Alternate ways to increase credit scores fast!

Anonymous — Sat, 10 Dec 2016 19:50:30 GMT

Hello everyone. In March 2016, my credit scores were hovering around 330 across the board. Currently, my scores are in the 600's: Equifax at 615, Transunion at 649, Experian at 652. I have a secured credit card with limit of $200, another card wit $500 limit, and an amazon store card with an $800 limit. I have 4 student loan accounts. I paid off a collection from 4 years ago. I opened a self lender account and am paying that. I am planning to get surgeries soon and want to get medical loans for that (maybe carecredit?) and I want to get a car by next summer. What are some other ways for me to increase my credit score?

FY: I alsO have 12 inquiries on my account for student loans, setting up stuff for my new apartment (phone, internet, cable), applying for these credit cards, and seeing if I could get carecredit (I was denied).

Re: Alternate ways to increase credit scores fast!

SouthJamaica — Sun, 11 Dec 2016 00:24:48 GMT

@Anonymous wrote:
Hello everyone. In March 2016, my credit scores were hovering around 330 across the board. Currently, my scores are in the 600's: Equifax at 615, Transunion at 649, Experian at 652. I have a secured credit card with limit of $200, another card wit $500 limit, and an amazon store card with an $800 limit. I have 4 student loan accounts. I paid off a collection from 4 years ago. I opened a self lender account and am paying that. I am planning to get surgeries soon and want to get medical loans for that (maybe carecredit?) and I want to get a car by next summer. What are some other ways for me to increase my credit score?

FY: I alsO have 12 inquiries on my account for student loans, setting up stuff for my new apartment (phone, internet, cable), applying for these credit cards, and seeing if I could get carecredit (I was denied).

1. Care Credit is only accepted by certain providers.

2. I assume you have some negatives in your report; you could send "verification" letters to the bureaus asking

for negatives to be verified by the creditor who reported them; that sometimes results in some of them being removed.

3. You could try to maintain your 3 cards as follows: have 2 of them report a zero balance when the statement cuts, with the 3rd

card reporting a small balance.

4. Pay your student loans down as fast as you can, but don't pay them down to zero unless a payment is due.

I don't think a "loan" will be a good thing for you, you'll wind up a predatory lending victim. I strongly advise you to stop thinking along those lines. But if you really want to go that route you should start building a relationship with a credit union.

Re: Alternate ways to increase credit scores fast!

Anonymous — Sun, 11 Dec 2016 00:30:04 GMT

1. I'm aware of that. It is accepted by all of the folks I have had consultations with.

2. As mentioned, I have a 4 year collection that I just paid off and it is not reported as collection paid in full. I have also missed two months of payment for one of my cards that I had for a year. Those are my only negatives.

3. good idea. I can definitely try that

4. I am just out of college (23) and this is my first job. I cannot afford to pay down more than my monthly bill

I need a loan or something to afford my surgeries.

Re: Alternate ways to increase credit scores fast!

SouthJamaica — Sun, 11 Dec 2016 02:27:37 GMT

@Anonymous wrote:
1. I'm aware of that. It is accepted by all of the folks I have had consultations with.

2. As mentioned, I have a 4 year collection that I just paid off and it is not reported as collection paid in full. I have also missed two months of payment for one of my cards that I had for a year. Those are my only negatives.

3. good idea. I can definitely try that

4. I am just out of college (23) and this is my first job. I cannot afford to pay down more than my monthly bill

I need a loan or something to afford my surgeries.

Then my advice is to build a relationship with a credit union, so that, when the time comes, you can borrow on fair terms and without the adverse scoring effect of loans with 'finance companies'.

But I am concerned that you are going to get over your head in debt.

Re: Alternate ways to increase credit scores fast!

Revelate — Sun, 11 Dec 2016 03:57:26 GMT

Are these elective surgeries?

Insurance being "mandated" and not effected by pre-existing conditions, is probably a better route otherwise I'd think?