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Have $2000 In Cash .. Need Suggestions!

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New Member

Have $2000 In Cash .. Need Suggestions!

So My Scores Are Currently 706 TU,701 EX & 702 EQ & I Would Like To Get Up To Somewhere Around 750-760 I Have A Couple Cards Now As I Will Post Below:

 

CreditOneBank Limit $400 Balance $0

Cap One Secured Limit $600 Balance $0

Cap One Quicksilver Limit $600 Balance $0

MyJewelersClub Limit $5,000 Balance $20

 

I Do Have 1 Negative Account On My Report That I'm Disputing Now In Hopes Of It Falling Off. Total Negative Account Balance ($3805) Which Was A Loan For A Car In 2015.

 

I Don't Have Any Positive Installment Loans On My Credit So Someone Suggested Me Get One But I Really Dont Know If I Could Trust Them As There Credit Score Is Not Too Good.

Sooooooo, I Would Like To Know Since I Have Extra Cash To Play With,What Would Be Best For Me To Do That Can Either Payoff Now Or In The Long Run ? I'm Really New To This & Im Just Trying To Learn & I Hope That I Made This Post Correctly With Enough Detail 😫

Thanks Everyone & Have A Good Evening!

Message 1 of 8
7 REPLIES 7
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Valued Contributor

Re: Have $2000 In Cash .. Need Suggestions!

Getting that negative off will definitely help.  An installment loan would help, you could do a CU share secured loan and then pay it down substantially once funded.  

Ch 7 Discharge 3/12/2018
Cap One VentureOne $3,500, CapOne Savor $3,300, Kohls $3,000, BBVA $2,500

Closed CreditOne $800, Blaze MC $3,000, Waufair $5,000

Infiniti Financial lease
Subaru/Chase 1.99%

Message 2 of 8
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Valued Contributor

Re: Have $2000 In Cash .. Need Suggestions!

You should see an increase with the negative off but do you mind if I ask if your Jewler card is a Bank Card?!    It looks like you are trying to do the AZEO method, but it works best when the balance is 8.9% or less on a Bank Card.   Smiley Happy










Message 3 of 8
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Valued Contributor

Re: Have $2000 In Cash .. Need Suggestions!

I would also second the CU secured loan (small amount you can just pay off in 6 months) to show installment type loan.










Message 4 of 8
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Established Contributor

Re: Have $2000 In Cash .. Need Suggestions!


@iamKingNipp wrote:

So My Scores Are Currently 706 TU,701 EX & 702 EQ & I Would Like To Get Up To Somewhere Around 750-760 I Have A Couple Cards Now As I Will Post Below:

 

CreditOneBank Limit $400 Balance $0

Cap One Secured Limit $600 Balance $0

Cap One Quicksilver Limit $600 Balance $0

MyJewelersClub Limit $5,000 Balance $20

 

I Do Have 1 Negative Account On My Report That I'm Disputing Now In Hopes Of It Falling Off. Total Negative Account Balance ($3805) Which Was A Loan For A Car In 2015.

 

I Don't Have Any Positive Installment Loans On My Credit So Someone Suggested Me Get One But I Really Dont Know If I Could Trust Them As There Credit Score Is Not Too Good.

Sooooooo, I Would Like To Know Since I Have Extra Cash To Play With,What Would Be Best For Me To Do That Can Either Payoff Now Or In The Long Run ? I'm Really New To This & Im Just Trying To Learn & I Hope That I Made This Post Correctly With Enough Detail 😫

Thanks Everyone & Have A Good Evening!


Is the negative car loan a legitimate debt that you did not pay?  You should only dispute items that are factually incorrect for your credit report.









Message 5 of 8
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Regular Contributor

Re: Have $2000 In Cash .. Need Suggestions!

Put $1200 of it in a PenFed checking account and collect the $200 they are offering! Check the thread in Personal Finance for more info.

Message 6 of 8
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Super Contributor

Re: Have $2000 In Cash .. Need Suggestions!

Are you eligible for membership into NFCU?

 

If you have no open installment loan, Navy offers a 5 year SSL.

Message 7 of 8
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Super Contributor

Re: Have $2000 In Cash .. Need Suggestions!


@iamKingNipp wrote:

So My Scores Are Currently 706 TU,701 EX & 702 EQ & I Would Like To Get Up To Somewhere Around 750-760 I Have A Couple Cards Now As I Will Post Below:

 

CreditOneBank Limit $400 Balance $0

Cap One Secured Limit $600 Balance $0

Cap One Quicksilver Limit $600 Balance $0

MyJewelersClub Limit $5,000 Balance $20

 

I Do Have 1 Negative Account On My Report That I'm Disputing Now In Hopes Of It Falling Off. Total Negative Account Balance ($3805) Which Was A Loan For A Car In 2015.

 

I Don't Have Any Positive Installment Loans On My Credit So Someone Suggested Me Get One But I Really Dont Know If I Could Trust Them As There Credit Score Is Not Too Good.

Sooooooo, I Would Like To Know Since I Have Extra Cash To Play With,What Would Be Best For Me To Do That Can Either Payoff Now Or In The Long Run ? I'm Really New To This & Im Just Trying To Learn & I Hope That I Made This Post Correctly With Enough Detail 😫

Thanks Everyone & Have A Good Evening!


I believe you'll pick up some points if each month you let one of your Cap One cards report a small balance before you pay it off, while having the other 3 cards report a zero balance.

 

I don't know what you mean about using your extra cash. It sounds like you only owe $20.


Total revolving limits 653000 (575000 reporting)

Message 8 of 8
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