@Anonymous wrote:Hey I'm new to the forums and I've been on a journey to rebuilding my credit. I'm not sure or maybe it has I'm assuming but I need help on what to do next. The only thing I have hurting my credit is some fed Loan servicing and US of dept of education accounts. They're recorded as several different accounts The balance is about 15,000 for everything but some accounts are open and some are closed. If these are in good standing no dont pay them off you wont get much for doing so and you need at least 1 open installment loan to help boost Fico
I also have a first premier credit card as a charge off. If its unpaid settle it to get the util off the books and updating stopped
Lastly the last account which I've paid off already but still shows negative and closed is a Santander loan I took out for a car. My question is is worth paying these student loans the ones that are not closed to help my credit or would you guys suggest holding. Any comments or suggestions would help me out and sorry if my post has already been addressed by some one else. Thank you any feedback is appreciated!!
My credit right now is 620 Equifax / 659 trans union / 637 Experian.
I have a car Loan i just took out recently that's about $16,945 which I set for 72 months but I'll have that paid off in about a year and half.
I have a discover credit card max is 2000. Last reported balance is $179 so about 9 percent usage
I'm an authorized user on my moms account for capital one. That balance max is $7000/ current balance is around $3700. This is the highest usage but I'm helping my mom pay it down. I know this is definitely affecting my overall usage.
I also have a capital one card which is $500 max but only $11 dollars last reported balance.
My final card that I have is a OpenSky which was my first card that I've started with. I don't use this one at all. The max is $200 and I've been having it at 0 balance for some quite some time.
let me know if you guys need any more info.
You want only 1 card reporting a balance and it looks like that will the the AU so pay off all yours so they report at 0 each month, this will help boost your Fico. It will also rise as that AU card is paid down.
