Major Help Needed

[Anonymous]

I have been out of bankruptcy 5 years and Litterly my score has been then same....could this be a glitch....

Also I have on my report zero deliquentcies but i have derogatories on my report how can i get this removed most are from my BK- I pulled my report and im getting the same scores i really need help of what i can do and change, i cant secure a auto loan and i have nothing negative on my report aside from the BK.

In total I have 3 credit cards-What can i do to get the dergatories off ?

Hsbc-1000- Bal 965

Credit One bank- 200 -Bal 157.00-

Target- 200- 120.00

Tidewater- Limit- 1500- Bal420.00

Great american Finance Co- Limit- 1500- Bal 1234

Credit union loan-Limit 1500-Bal 1348

Auto Loan- Limit 16,000 Bal-7,810

got this off my fako's

Your revolving account balances are too high in comparison with your credit limits. [TransUnion, Experian, Equifax] Having credit available to you is a sign that you are able to manage your finances responsibly. Lenders like to see that consumers have a large amount of credit available to them, but not so much that they could spend more than they could afford to pay back. If you currently have multiple accounts open with high balances, try reducing your balances below 35 percent of your limits. If you do not have many open accounts, consider opening a new credit account or asking your creditors to increase your limits.

You have not had enough debt experience. [TransUnion, Experian, Equifax] A healthy balance of credit and loan accounts is key to achieving a high credit score. It is important to build a record of responsible credit use over time with different types of accounts. Consider opening a new account to strengthen your credit report.

There are too many recently opened accounts on your credit report. [TransUnion] Time is one of the most important factors for a healthy credit score. The longer your accounts have been opened, the better they are perceived by lenders. Opening new accounts can cause your credit to appear unstable, because a record of responsible use has not yet been established for the account. Your borrowing power should improve as you keep your new accounts open, active and paid on-time.

The balances on your bankcard accounts are too high in comparison with your credit limits. [Experian, Equifax] Having credit available to you is a sign that you are able to manage your finances responsibly. Lenders like to see that consumers have a large amount of credit available to them, but not so much that they could spend more than they could afford to pay back. If you currently have multiple accounts open with high balances, try reducing your balances below 35 percent of your limits. If you do not have many open accounts, consider opening a new credit account or asking your creditors to increase your limits.

[AndySoCal]

The first factor is what is impacting your score the most. You need to get your credit card debt to under 10% of each card limit ideally.  For example paying the Capital one account to  a $15.00 balance.  You should see some improvement when you get to less 50%. How long have had these accounts in terms of time.

[Anonymous]

I have had one of these cards for two years and the others approaching two years the car note, I have had for three years- what about the area that reads deragatory what can i do about that should that be their-

[haulingthescoreup]

poorcredit2010, those are not FICO negative comments. They are FAKO's --they look a lot like TrueCredit comments.

Since they are commenting on how your credit reports affect your FAKO scores, the comments are not particularly useful. (Also, they're just comments. They're not derogatories, which are notations on your credit reports about late payments, settled for less than paid, etc etc.)

*** Whoops, just saw that you knew you were posting FAKO comments. But still, don't be guided by these. ***

Go ahead and pull your EQ FICO and TU FICO if you can. The negatives listed on those, in order, are the ones to work on.

But right off the bat, your big problem is high util. You're going to have to get those balances down, one way or another, before you are attractive to lenders. And util is a huge driver of your FICO scores. --hth

Message Edited by haulingthescoreup on 10-08-2009 04:21 AM

[RobertEG]

You are at over 64% of overall % util on revolving debt, with 96%, 80%, 78%, and 34% util on indiv cards.

Credit score improvement mandates levels, as a start, of less than 50% on all.