Hello everyone, my name is Matt and I am new to these forums. I tried to search but was fruitless in my efforts. I have already made my eyes numb from reading the abundance of information (I thought my job in insurance was complicated!) and I thank anyone in advance for advice.
Here is my story:
I fell into a lot of the same pit-falls that many college students get locked into (good credit + college life+ credit cards+stupidity = driving a 15 year old car when you are 27). I am now trying to satisfy any "baddies" that have popped up on my report(s).
I currently use a credit monitoring system through Bank of America called Privacy Assist Premier (anyone use it or familiar???). It brings up my scores as 649 (Equifax), 601 (TU), and 601 (Experion).
Concerns:
1. BoA is listed as a revolving account that lists a $1577 balance on a $1000 limit. This account started life as an MBNA CC and I am under the impression that BoA now owns MBNA. About 3 years ago it went to collection and I have since paid the balance in-full to the collection agency. I attempted to call BoA credit card division but they were unable to find anything about the account. What are my options?
2. I was thinking about opening a personal account at a credit union (any recommendations for one in Pennsylvania let me know!!!) My intent is to have an option, when the time comes, to purchase a loan with a good rate. My concern is two things; the first being that I recently applied for a secure credit card from my current bank (BoA). I am still waiting for the approval from BoA but was thinking that my scores might be hurt if BoA and a CU pull my credit now.
I am also concerned that if the CU turns me down for an account my attempt to improve my credit over the next few months will be futile.
Thank you,
Matt
