My main goal is to improve my credit score, get a new car, and one day a house. Right now I want to focus on the first two. I haven't had any open revolving accounts/credit for sometime now. I just opened up a few accounts to get me started. My credit report has 9-10 collections, all stupid phone/electrical from past apartments. I didn't give forwarded addresses therefore noone could reach me b4 collections hit my report. I think I would rather do a PFD process with all to get it over with if possible. I currently bank with BOFA and joined a Credit Union today.
These are my new cards
Orchard (secured) $200 4months old
Midsouth CU (secured) $400 opened today
Crown Jewelers $1500 <month not reporting yet
Macys $100 <month
First Premier $250 <month
Denials
New york & company, dell, credit one, hooters,chevron
Credit Score FICO 10/4/07 EQ-579 EX-596 TU-592
Indentity guard 10/22/07 EQ-577 EX-584 TU-593
1 charge off $2636 loan with old CU, paid car loan $16k, 120 days late with same CU, 3-4 paid loans
1 student loan in repayment large balance
EQ & EX has 9 Collections TU 10
Majority denials for Collections, revolving credit limit not high enough, etc. I'm not sure which way to go first. Pay off collections 1 by1, try for a loan to pay then all off($4000), or establish payment history with new CU and try for car loan while keeping other accounts current with low balance. My Collections and student loan clearly take over my debt ratio. Should I try something with BOFA since I've been there 3yrs. Someone offered my auto financing last year, but the car wasn't too much better than current vehicle.Scores worse then...denied HSBC, Captial One then.
