topic Anyone have any idea please ??? in Rebuilding Your Credit

Anyone have any idea please ???

Anonymous — Wed, 02 Jul 2008 23:09:58 GMT

In Oct 2006 I took out an Auto Loan (reported as Installment) I paid it off last month 5 mths early, I also took out a $2000.00 loan(reported as Installment) from my CU in Aug. 2007 paid it off last month 6-7 mths early. Recieved a CC from CU in Dec 07 for $500.00 they just increased it to $3500. But I just took a loan out from my CU for $10000.00 to buy a Motorcycle.

Last month I also went on an app spree and recieved a Target CC for $1500 and a Crap One (just to get things reporting to EQ and EX. for $500

Anyone know if I hurt myself paying those items off fast or helped and did taking out a new loan so soon hurt. Will I see a major drop in my CS from the 2 new CC and the increase of my CU Visa ?

My CS on TU was 644 (waiting till end of july to pull it again ), NA on EQ and EX

I do have 4 medical collections on TU from 2003 /2004 (not paid, because 2 are not mine but they keep verifing that they are)

Re: Anyone have any idea please ???

Anonymous — Thu, 03 Jul 2008 00:02:37 GMT

Did you have any revolving credit?

Any score increase you would be receiving will be offset some by the new accounts, decreased average age, inquiries, etc....

If you didn't already have revolving credit, I'd say expect a net increase. But this is just my guess. How scoring works is not a strong section for me in this whole mess that is called credit.

Message Edited by sidewinder on 07-02-2008 05:02 PM

Re: Anyone have any idea please ???

Anonymous — Thu, 03 Jul 2008 01:44:52 GMT

Yes my CU CC was revolving it had the $500 limit not its $3500