topic New Here in Rebuilding Your Credit

New Here

Anonymous — Wed, 26 Nov 2014 00:28:28 GMT

Hey guys what's up?

1st off, thanks for all the free & great info across these boards.

I've learned so much about credit, & how it actually works, & the way you are suppose to play the game. Currently working on building my credit, as well as helping out my wife. A little about me:

26 year old medical assistant. Always thought "credit was bad, & if I couldn't afford to get it on debit, I didn't need it." My 1st credit card was 2 years ago, a military star card, & the only reason I got it, was my 99 accord needed some work before I drove from Texas to Maryland. Got approved for $1,900, spent $1,800 of it. Prior to coming across this board, I had just been making the minimum payments. Add to that my student loans, no missed payments, & old traffic tickets that I never paid, made up my report.

Fast forward to now, the balance of that card is $1,211.42/$3,150 (recent auto increase), all traffic derogs paid & removed, a game stop credit card with a $500 limit (which I realize is now pointless), a 10k NFCU Cash reward Visa card (wife is a AU), & another 10k NFCU cash rewards Visa card (I cosigned for my wife, didn't want to tie up $500 for a secured card).

Sitting at 23k in total credit, no derogs. Not sure what went in to getting my score from Navy Fed, as I got my card prior to getting my wife's, & 2 baddies dropped, but the letter they sent following up the card, had me at a 675 via TU.

Sorry if it felt like I was rambling, but I'm on my way to the 700 club and it wouldn't have been possible with out this board. Keep the info coming ladies & gents. I'm here to soak it up.

Re: New Here

Anonymous — Wed, 26 Nov 2014 00:43:31 GMT

Hello and welcome!

Im always glad to see young people taking control of their credit, good for you! Im sure you will hit that 700 soon and you have plenty of time to work towards the 800s. Good luck to you

Re: New Here

emd0007 — Wed, 26 Nov 2014 12:19:15 GMT

Welcome to the club! Bad thing about credit is it oesn't cross your mind until it turns your life upside down and it can seem like a long trek uphill. I always laugh when I look over my credit history and see my college self rocking an 825 across the boards lol.

Re: New Here

Anonymous — Wed, 26 Nov 2014 14:29:28 GMT

I keep hearing about how generous Navy Fed is with credit lines and I keep kicking myself eveery time for closing my account years ago. It occurred to me that my niece is eligible, since she just married a military guy. If she joined would she be able to sponsor me? I really would like to find a way back in...