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New Ostrich Coming Out of the sand

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Anonymous
Not applicable

New Ostrich Coming Out of the sand

Yep, That has been me, hiding from my credit. I am engaged and need to get on solid ground before the wedding next year.

My credit report is mostly empty, but I had 2 state of Calif.tax liens. One was because I failed to file taxes. That is done and I no longer owe them. The other will be paid in full next month.

I paid the IRS this month too. Yay.

I have two medical collections from 2011. I am afraid to call tge collection agency and provoke the dragon. They should fall off next year right. I should have been covered by state Medical program, but I am afraid to call them and reset the clock for collection. The total of tge two bills is $4600.00. I cant afford to pay. So just waiting for them to fall off. I moved in 2011, so I didnt even know about the bills.

I also have a closed chase cc for $1000. Paid in full.

Other than that I have no history. No FICO either. It says "unrated"

Ck had me at 652 last eeek, so I applied for an unsecured Cap1QuickSilver (meant to get platinum, but clicked wrong ad). Was approved for $300. Ck, (TU and Eq) both dropped to 637 immediately. :-/ 15 pts for one inquiry?!! Have not received card, so the CA has not seen new credit line.

After reading here, I learned about the benefits of AU, so my fiance added me to his card. We live together. He has had the card 11 years and has a 10,200.00 limit. I am waiting for the CA to pick this up, and waiting for new cap1 in mail.

So now the credit bug has got me and I am compulsively checking for updates in my credit. And stalking the forum here.

I am temped to apply for more credit, or open a secured loan, but I am trying very hard to be patient and wait for the AU and new credit line to hit my account.

Do any of you have suggestions for something I have missed?
Message 1 of 14
13 REPLIES 13
medicgrrl
Valued Contributor

Re: New Ostrich Coming Out of the sand

Have you checked the SOL on the debts you owe? If you are past the SOL then it may be worth it to contact the medical provider to find out why they didn't bill MediCal(I'm guessing that is what you were referring to). Even though they'll fall off next year, you need to make sure you still can't be sued and maybe getting $0 balances reported in the meantime.


EQ 778 EXP 782 TU 729
Message 2 of 14
Anonymous
Not applicable

Re: New Ostrich Coming Out of the sand

I read SOL for medical bills in California is 4 years. I think I am safe from lawsuit. So now just let it run out?
Message 3 of 14
medicgrrl
Valued Contributor

Re: New Ostrich Coming Out of the sand

It's up to you whether you let it run out with a balance or not. But if you think the medical provider erred by not billing MediCal, it might be worth it to contact them directly to find out. You may be able to bypass the CA.


EQ 778 EXP 782 TU 729
Message 4 of 14
Anonymous
Not applicable

Re: New Ostrich Coming Out of the sand

PLEASE let me know how being added as the AU does for you as far as average age of accounts and of course, bump in scores. I have an aunt or grandfather willing to do this, and I would like to know the benefits. Thanks.
Message 5 of 14
Anonymous
Not applicable

Re: New Ostrich Coming Out of the sand

I have not yet received my card, or an updayed score. I can not yet reply based on personal experience, but if you read here, or do a search on getting added as an AU to an account with good standing history, it should help, both credit limit and average age of accounts. I am trying patiently to see my first fico generate!
Message 6 of 14
Anonymous
Not applicable

Re: New Ostrich Coming Out of the sand

Should I apply for some store credit, like Walmart? What ate my odds of approval?
Message 7 of 14
Anonymous
Not applicable

Re: New Ostrich Coming Out of the sand

Congrats on your engagement!  Here is my 2 cents regarding your medical bills-  If you have any kind of documentation that you had state medical coverage, you can use that to dispute the bills.  Their failure to properly bill the state should result in removal.  The bills cannot be filed now because the statute for filing is usually 12 months to 2 years, depending on the carrier.  The flip side is like you stated, wait it out to be removed.  Since you have other negative items on your report, you will only gain 10-20 points max for the medical bill removal.  The biggest jump in score comes when your last negative item is removed.  

 

As far as what to do next, you wait lol  I would not apply for anything else yet.  Which credit card did your fiancee add you to?  Do you live together?  Not all companies will report an AU account if you don't share the same address.  Keep in mind that his utilization will affect your scores too.  Use your cap 1 card and pay all but a small amount each month so it will report and you can build credit.  You can get increases to your limit as you establish history.  

 

Should you apply for other credit right now, your limits would be minimal -  if you actually were approved.  It is better to wait a few months for everything to start reporting and your scores to establish before applying for new credit.  Credit building is a marathon, not a race.  You are getting started in the right direction!!!

Message 8 of 14
Anonymous
Not applicable

Re: New Ostrich Coming Out of the sand

Thank you for your advice. I will hold off applying for anything. To answer your question, my fiance and I do live together. The card he added me to is a Capital 1 platinum. It is from 2006 with a 11,200 CL. The utilization is going to be zero as he is in the process of a balance transfer. He has excellent credit.
Message 9 of 14
Anonymous
Not applicable

Re: New Ostrich Coming Out of the sand

Also the statement closing is in 2 days. I am hoping to see a vantage score increase then. Anyone know when I should see a fico score from an AU account?
Message 10 of 14
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