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trying to build credit need advice

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Anonymous
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trying to build credit need advice

im trying to build my credit back up i made some mistakes in the past far as applying for a lot of credit cards and loans i have mostly everything paid off my credit that was derogatory except for sprint bill which is 691$ and jcpenny which is 300$ i have alot of hard inquiries about 27 of them what can i do to raise my credit score pretty fast ?

Message 1 of 4
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BungalowMo
Senior Contributor

Re: trying to build credit need advice


@Anonymous wrote:

im trying to build my credit back up i made some mistakes in the past far as applying for a lot of credit cards and loans i have mostly everything paid off my credit that was derogatory except for sprint bill which is 691$ and jcpenny which is 300$ i have alot of hard inquiries about 27 of them what can i do to raise my credit score pretty fast ?


Welcome to the boards erichdw....

 

From the looks of what you mentioned, there are things you can do to raise your score, but it's not going to be fast. 

If you have paid derogatory accounts, you can begin the GW process.

If you have unpaid derogatory accts, you can begin the PFD process.

 

Info on these and other helpful topics can be found here http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Helpful-Rebuilding-Threads/td-p/224981

 

The first thing to do is STOP applying!  With all those hard inquiries on your files, you look desperate to creditors & you're scaring them away.

 

Next...after you begin the processes mentioned above, and hopefully have some luck getting some negative items removed, ONLY then think about applying.  Even then, the absolute best advice I have (because I had to do it myself years ago) only apply for a card you can GET....not the card you WANT!

One day, these 2 will be the same card, but you have a bit of work ahead of you before you get there.

 

Gotta be honest with yourself & say, "I screwed it up, so I have to work hard to fix it".

 

When I was there, I got a high int credit card (always pif) and a car loan at 19% interest!  Yeah...I bit the bullet & knew it was what I had to do to begin the repair process.

BK 7 discharge 06.24.2020 No Fico score at all. Smiley Sad
Message 2 of 4
SarahJo
Established Contributor

Re: trying to build credit need advice


@BungalowMo wrote:

@Anonymous wrote:

im trying to build my credit back up i made some mistakes in the past far as applying for a lot of credit cards and loans i have mostly everything paid off my credit that was derogatory except for sprint bill which is 691$ and jcpenny which is 300$ i have alot of hard inquiries about 27 of them what can i do to raise my credit score pretty fast ?


Welcome to the boards erichdw....

 

From the looks of what you mentioned, there are things you can do to raise your score, but it's not going to be fast. 

If you have paid derogatory accounts, you can begin the GW process.

If you have unpaid derogatory accts, you can begin the PFD process.

 

Info on these and other helpful topics can be found here http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Helpful-Rebuilding-Threads/td-p/224981

 

The first thing to do is STOP applying!  With all those hard inquiries on your files, you look desperate to creditors & you're scaring them away.

 

Next...after you begin the processes mentioned above, and hopefully have some luck getting some negative items removed, ONLY then think about applying.  Even then, the absolute best advice I have (because I had to do it myself years ago) only apply for a card you can GET....not the card you WANT!

One day, these 2 will be the same card, but you have a bit of work ahead of you before you get there.

 

Gotta be honest with yourself & say, "I screwed it up, so I have to work hard to fix it".

 

When I was there, I got a high int credit card (always pif) and a car loan at 19% interest!  Yeah...I bit the bullet & knew it was what I had to do to begin the repair process.


+1

 

It's going to take time, patience, and a ton of lurking and/or questions on this forum.  As mentioned in another thread, you'll never find a better cheering section as we all want eachother to succeed!


Present Day...Equifax: ???, TransUnion: 777, Experian: 781
Sept. 2016...Equifax: 652, TransUnion: 608, Experian: 597
Message 3 of 4
Anonymous
Not applicable

Re: trying to build credit need advice

Thank you for that really helped 

Message 4 of 4
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