Help......Any suggestions?

[drkaje]

The CO and LVN Funding should probably be dealt with first. If you truly don't remember ever having an account with them, demand verification.

Is the CO paid? If not, research PFD.

I thought the financial advisor comment was really solid. At $108K/Yr income, the lack of good credit may be tied to spending wrong or just buying really expensive cars, LOL!

Citi was pretty good to me early in rebuilding. That being said, you already have a ton of cards so it might be better to do some repair before adding a ton of credit.

[Creditaddict]

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@Anonymous_pimp_pickle wrote:

Thanks for the reply.  The bmw loan is in my name.  I have never used a co signer for an auto loan and always got good rates.  I never thought about the Amex card either.   If I got added as an AU under Amex, would that help my chances?  The cap one card (my personal one) I got to start trying to build my own credit as most scores was always populated based on my auto loans and/or AU accounts.

Could I have a chance of being approved for maybe lets say a Chase freedom?  

Once again, thanks for taking the time to read and reply.

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1.  I would apply for the BMW Card.

2.  NO MORE AU!!! (I love me some AU and I have tons of them, but now you have huge auto loan, you have small credit steps on your own, the scores are good... lets conitnue on getting your own cards that look as good or better then your AU cards.

2a. Go to Chase and do the Pre-Approval - If Freedom comes up as one of your options then sure go for it, if you get no offers, I would not apply for any Chase Cards currently.

3,  Apply for the Amex Charge Card... If you get instant approval, I would go back in and pick out 1 of the revolving amex cards (Bleu Cash Preferred) is my fav. but apply for what makes sense for you and rewards and apply, it won't hurt if your denied because you already had pull from charge... if approved well great!

[Creditaddict]

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@drkaje wrote:

The CO and LVN Funding should probably be dealt with first. If you truly don't remember ever having an account with them, demand verification.

Is the CO paid? If not, research PFD.

I thought the financial advisor comment was really solid. At $108K/Yr income, the lack of good credit may be tied to spending wrong or just buying really expensive cars, LOL!

Citi was pretty good to me early in rebuilding. That being said, you already have a ton of cards so it might be better to do some repair before adding a ton of credit.

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Sorry with my first post about advisor... i did read to fast and missed those things... I agree now! lol ~ sorry all.   rest of my steps stand after that!

[Anonymous]

The main reason I don't have any major credit cards is because of not really having a need for them. I do a ton of saving and actually paid cash for my home. Sounded like a good idea when I did it, guess it still is. I always had the cards that I'm an au on to fall back on if I wanted to charge something and not use my cash or savings.

Thanks again for all the replies.

[Anonymous]

No, the charge off isn't paid. Any benefit to paying off vs just letting it fall off? Its funny the auto lenders don't seem to care that I have au accounts but maybe because collateral is involved. If the accounts were changed to joint accounts, would that make a difference? I guess I'm trying to skip some steps but thanks for all the suggestions.

[Creditaddict]

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@Anonymous_pimp_pickle wrote:
No, the charge off isn't paid. Any benefit to paying off vs just letting it fall off? Its funny the auto lenders don't seem to care that I have au accounts but maybe because collateral is involved. If the accounts were changed to joint accounts, would that make a difference? I guess I'm trying to skip some steps but thanks for all the suggestions.

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Joint would be viewed differently but I would probably skip and just get one on your own because you ever need to close that card later or joint does something you can't make it going away by just asking to be removed like you could currently on all the AU cards... I understand years after you were added and they are all still fine so why not... but really if you did do joint, I would pick just 1 Chase Card to do it... you can't joint Citi, or Capital One, don't think BofA either... Chase you can and it won't be a credit pull but you have to call in and request form... if you do it and you don't plan on using it... I would set alerts on it to email or text you if it so much has a $10 charge on it so you can watch very close! 

[Anonymous]

Thanks again.

[Anonymous]

For example, my mom is au on all of my dads cards and has applied for credit cards and got them with nice limits. I was really curious if the same thing will happen for me, especially since I have my own income and she does not.

[drkaje]

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@Anonymous_pimp_pickle wrote:
No, the charge off isn't paid. Any benefit to paying off vs just letting it fall off? Its funny the auto lenders don't seem to care that I have au accounts but maybe because collateral is involved. If the accounts were changed to joint accounts, would that make a difference? I guess I'm trying to skip some steps but thanks for all the suggestions.

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Try searching the rebuilding forum for help with the one late payment. Someone probably has an e-mail address or contact info.

An unpaid CO is a huge deal for better lenders. If the debt owner will accept a PFD (Pay For Delete), you'll pretty much jump to above average credit overnight. Another scary thing to consider: the debt may be within statute of limitations so they could sue and get a judgment. You really don't want a judgment hanging out on your CR 7-10 years.

Car companies are probably hosing you with crazy interest rates. If you weren't getting hosed, they would have been able to say yes with 1 pull. IMO, a lot of people's need instant gratification and a shiny new car help them ignore rates.

If you don't owe LVNV any money, dispute them off your CR.

With some work, you could be at tier one credit!

[Anonymous]

What's crazy interest rates? I don't think I have ever had one :more then 6% and my current one with bmw is 3.19 or 3.9...can't remember but its what I went to multiple dealers in multiple states because I wanted better pricing, had nothing to do with the interest rate. Thanks for the observation though.