ABCD2199's Eleven Rules to Credit Rebuilding

[AspiringDink1991]

I have a question about Rule #10, if a card reports more than the 88.9% that you mention, does that haunt you for ever or are you saying for just that one month? If I have had a card report over 88.9% for a single month how do I redeem that? I dont want that to be a ding for the rest of my life but it did happen once before I found this whole forum.

[Slabenstein]

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@AspiringDink1991 wrote:

I have a question about Rule #10, if a card reports more than the 88.9% that you mention, does that haunt you for ever or are you saying for just that one month? If I have had a card report over 88.9% for a single month how do I redeem that? I dont want that to be a ding for the rest of my life but it did happen once before I found this whole forum.

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On currently used FICO versions, utilization is a snapshot metric that has no memory.  It only takes into account what your reported balances are at the particular time the score is pulled, so if you have a card report extremely high util one month it will have no effect on what your scores are after the next monthly reporting if that card's util has changed.  Also, since the OP was written, we've found out that FICO uses regular rounding for util, so it would be actual util of greater than 90.4% (not 88.9%) that would put you above a 90% threshold.

[Anonymous]

So did you hand write all those letters or did you do them on the computer?  Just curious if you feel like it makes a difference?

[Anonymous]

Experian 567

Eq 542

Trans 562

Help please. Im a single mom, worked hard to finish nursing school. Now in my careee. I want to finally be able to buy a house this year.

I have 3 CC, all at zero balance. 
I have student loans, I've had 6 missed payments so my credit took a hit.

I was late on my car payment for one month, so my credit took another hit.
I have about 3-4 accounts in collection.

Accounts in collections are lvnv, portfolio rec, merrick, capital one. 

Where do I start? Please help.  

[righthererightnow]

SO USEFUL. Thank you for this.

[righthererightnow]

I have 3 CC, all at zero balance.

Zero balance for all will hurt your score. One of those should report, $10 or less.

I have student loans, I've had 6 missed payments so my credit took a hit.

Contact the school (look up Goodwill letters here), see if you can talk some of those off, or down.

Hope it helps. There's lots of good stuff here. Dig through the forums, lots of usable info. (Also if you make your own post people will jump in with direct advice too).

Message 154 of 155

[righthererightnow]

I have 3 CC, all at zero balance.

Zero balance for all will hurt your score. One of those should report, $10 or less.

I have student loans, I've had 6 missed payments so my credit took a hit.

Contact the school (look up Goodwill letters here), see if you can talk some of those off, or down.

Hope it helps. There's lots of good stuff here. Dig through the forums, lots of usable info. (Also if you make your own post people will jump in with direct advice too).