NEWBIE QUESTION RE: CCs PLEASE HELP!

[Anonymous]

That must be it then. Becuase right now even though the secured Cap1 is still on my report, they still count my Discover as the oldest account rather than the Cap1 secured.

[longtimelurker]

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@TiggerDat wrote:

My advice, first read the handy little booklet offered on the sign in screen!

Get Credit Karma and monitor your progress.

Open no more than four revolving accounts. 

Don't open any more after that before you get the mortgage.

Don't pay anything off which is outside the Statute of Limitations.  (Sorry, I know some will find this wrong of me to say, but if it gets paid it could stay on longer!)

Pay the tax lien or get your name off of it if it really is not your responsibility in any way.  Pay it off as soon as possible.  Even if you have the money, pay it with that CapOne card, then pay the CapOne card.  If it isn't counted as a cash advance, then it should earn rewards.  If it is counted as a cash advance, then don't use the card for it!

Only buy what you need and be thrifty about it.  Don't buy Del Monte, when the Kroger brand will do just fine.  Buy quality as long as you really need something durable, it should last longer and not need to be replaced as often.  Find the lowest price you can on everything.

Find excuses not to party, or party at home for cheaper.  Don't drive drunk, etc.  (This is related to being thrifty!)  Tell you friends that you have to work late.  Have plans with a coworker they don't know.  If you do go out, tell them you have to go to another friends birthday party which also happens to be that night.  Tell them you have to pick up a friend at the airport.  Tell them you will be at your parents house helping them repaint the living room. 

This is probably good advice for those drowining in debt, but I don't think that is the case for the OP, who is suffering from derogs and a low score.

[Anonymous]

Correct- I am not having cash flow problems at all.  My derogs are actually pretty low (medical bills, less than 1K, most of which will age out over the next couple years).  My big bad wolves are 1. Bad auto loan (it was an issue of principle, not cash flow.  I never got a title and got sick of the games and told them to stuff the car), and a tax lien of my ex husbands (which I am currently trying to resolve).  If it was a matter of "pay the bill, and bad credit is deleted", my credit score would be as high as it could get. 

I'm trying to find ways to get rid of the bad stuff, but, more importantly, get some positive credit going.  I've never had CCs in my life, and my student loans are all from the 90s, so I never had a really positive tradelines (except the auto loan which I could cheerfully smack myself for). 

It's starting to dawn on me that this is a process requiring something I DON"T have- PATIENCE!!

[Anonymous]

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@Anonymous wrote:

Correct- I am not having cash flow problems at all.  My derogs are actually pretty low (medical bills, less than 1K, most of which will age out over the next couple years).  My big bad wolves are 1. Bad auto loan (it was an issue of principle, not cash flow.  I never got a title and got sick of the games and told them to stuff the car), and a tax lien of my ex husbands (which I am currently trying to resolve).  If it was a matter of "pay the bill, and bad credit is deleted", my credit score would be as high as it could get. 

I'm trying to find ways to get rid of the bad stuff, but, more importantly, get some positive credit going.  I've never had CCs in my life, and my student loans are all from the 90s, so I never had a really positive tradelines (except the auto loan which I could cheerfully smack myself for). 

It's starting to dawn on me that this is a process requiring something I DON"T have- PATIENCE!!

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I strongly encourage you visit the credit rebuilding forum as you will find people with a wealth of knowledge about removing baddies from your CRs.

[Anonymous]

Thanks Irish.  I posted this when I was brand spanking new to all this stuff and didn't know where to post.  I think it would be rude of me to just ignore the posts of others, especially since everyone on the forum has been so kind, and so helpful.  I'm working on trying to get some more derogs off of the report.  I had 4 deleted on my very first dispute (YIPPEE!!! ) and hubs got his EX dispute back today and got rid of three, two of them were WHOPPERS, too!  So, I'm heading over to rebuilding to go celebrate ))

Thanks again for th post!  Everyone here has been amazing and super knowlegeable.