How to rebuild credit? Fast? Secured Cards?

[Anonymous]

What is the best thing i can do to build my credit and build it fast? Im at a place right now where I can afford all my bills and I have money to spend to rebuild my credit from my careless days.

Whats dropping my credit:

Sallie Mae: 1 late payment for sallie mae for 60 days. Late once in dec 2018, 68 on time payments. Faxed them a letter for good will removal today.

Penn Credit: Con edision bill my roomie never paid. I paid this 4 years ago i was able to dispute and have equifax and transunion drop but still showing on experian

Chase Auto Loans: was late 2 times out 21 payments. Paid off loan. I was going through situation with dealership where i wanted to give back car because of problems it had and didnt pay those months. Tried to dispute as inaacurate nothing happened.

Citi secured card: I opened a secured card and the fruad system with them is so crazy i couldnt use the card. So i disputed my $800 secured payment got it back and then they closed the card with high blance and put in collection.

So far ive paid any collections I only have showing on my report. Opened secured cards. $500 open Sky, $250 Grain, I just got approved for a credit one card for $300 also. 

Im considering buy 2 tradelines to increase account age and credit utilization so that i would be able to get approved for more cards. Any other plans?

[Girlzilla88]

Honestly the biggest things hurting your score are your baddies.      Are any of them near coming off this or next year?!

[Anonymous]

Thanks for your response. Im pretty sure the penn credit will be removed, Its already been removed from Transunion and equifax. The only other baddies is Chase auto loan, sallie mae, and citi. Im going to do whatever i can to try get them removed. 

My files according to experian is thin and i should open more accounts. I just open 2. Im considering a Self Lender loan, thoughts?

[Anonymous]

---

@Anonymous wrote:

Thanks for your response. Im pretty sure the penn credit will be removed, Its already been removed from Transunion and equifax. The only other baddies is Chase auto loan, sallie mae, and citi. Im going to do whatever i can to try get them removed. 

My files according to experian is thin and i should open more accounts. I just open 2. Im considering a Self Lender loan, thoughts?

---

Experian and Credit Karma love to promote products. Don't build too fast too soon. It will probably hurt more than help. A thick file is good, but if built properly and over time. Yes you have a thin file, but we all started there. There is no such thing as rebuilding credit quickly, unfortunately.

Edit: I also do not agree with "buying" tradelines. This can activate the anti-abuse algorithm and will automatically exclude them from helping you in any way.

[Anonymous]

Thanks i acutally dont need credit for anything at the moment. Im just building it to build it for when I need it in the future. Right now my score is 647. I want it as high as possible and to maintain it for when I need it down the line.

[Girlzilla88]

How long ago did they start?!     Typically 7 to 10 years depending is how long some will be but you can also look up and see if someone here has a Forum for the specific ones you have and see if they will do an Early Removal or possibly PFD etc

[Red1Blue]

---

@Anonymous wrote:

So far ive paid any collections I only have showing on my report. Opened secured cards. $500 open Sky, $250 Grain, I just got approved for a credit one card for $300 also. 

I am curious to know how Grain works and helps with credit. Are they like a credit card that give you credit based on your income and spending ?

[Anonymous]

---

@Red1Blue wrote:

---

@Anonymous wrote:

So far ive paid any collections I only have showing on my report. Opened secured cards. $500 open Sky, $250 Grain, I just got approved for a credit one card for $300 also. 

I am curious to know how Grain works and helps with credit. Are they like a credit card that give you credit based on your income and spending ?

---

It's basically a secured credit card but they don't send you a card. Basically you deposit money into your account afterwards that will be added to your grain as your credit limit. When you want to spend money from grain let's say $50 you withdraw the money back to your bank and you spend with the money with your debit card. 

basically what I did was just deposit the money in grain and forget about occasionally I might pull out $50 to my bank and put it back.

long story short it's a secured card 

[Red1Blue]

---

@Anonymous wrote:

---

long story short it's a secured card 

---

Interesting. If they do not advance the money and if we are going to put our own money then why do they charge interest on the  amount you withdraw ? Do they report the credit history to credit bureaus ? How does it help in credit building ? Why not keep some money in the savings account and draw from it as needed.  Also why not put as much much as we want in the Grain account instead of what they say $500 or $1000 limit. I am not sure what is the difference between this and other methods. I am still not sure. I downloaded the App and installed it and trying to figure things out. I called customer support and technical support and I have been on the phone waiting for 25-30 minutes and finally I get a message " No agents are available to take the calls. Leave a message and they will get back to you". Not a comfortable place to be in. Especially if we are giving all the information about the Primary Checking account.

[Anonymous]

---

@Red1Blue wrote:

---

@Anonymous wrote:

---

long story short it's a secured card 

---

Interesting. If they do not advance the money and if we are going to put our own money then why do they charge interest on the  amount you withdraw ? Do they report the credit history to credit bureaus ? How does it help in credit building ? Why not keep some money in the savings account and draw from it as needed.  Also why not put as much much as we want in the Grain account instead of what they say $500 or $1000 limit. I am not sure what is the difference between this and other methods. I am still not sure. I downloaded the App and installed it and trying to figure things out. I called customer support and technical support and I have been on the phone waiting for 25-30 minutes and finally I get a message " No agents are available to take the calls. Leave a message and they will get back to you". Not a comfortable place to be in. Especially if we are giving all the information about the Primary Checking account.

---

Tbh I don't withdraw often it just reports to bureaus that I have a open credit line and it's paid on time. The way I think of it is it's a secured card they just don't send you credit card. Whatever you advance out of grain to your account is what you spent. They charge you interest just like a regular secured card would.

If your getting this I would recommend to not really spend on it. Just use to boost available credit, and payment history. I try to use just to keep active but that's it.

as far as submitting bank info it uses plaid which a lot of other apps use