Not understanding why my scores are so low...need advice

[Anonymous]

Ive been lurking on these forums for two weeks now, and i think its amazing if i knew half of what i've learned 10 years ago id have perfect credit, my story like may on here goes back to when i was in college i opened a couple credit cards, did not manage my finances at all. I have been in rebuilding process for about six months i currently have 4 accounts in collections 2 of which im disputing as they are medical bills and i havent been to a hospital (besides the birth of my son) in about 10 years i plan on writing a gw letter to one and the last one im worried about is a reposession which falls off next month i was approved for a capital one secured and a credit one unsecured because before them ive only owned one credit card. The thing in think thats hurting my credit is all the inq. 24 total, 16 last year alone, but im not sure what my next step is i know using my new credit cards responsibly is a must. anything else i can do to help myself and my situation.

repo  7 grand reported june/2008

first premier cc 383 reported august/2010

comcast 190 reported dec/2012

currently exp 531 eq 610 tu 537

[Kirmie2010]

Offer PFD on the low balances that went to collection.  If they wont go for that, just pay.  (if you cant pay, set up a payment plan)

Not to say its good, but your repo, did they ever get a judgement?  If not, should be off your report within 3 months.  So not much to do there unless you can pay it now and want to be nice.

Inquiries can hurt up to 10% of score, so if everything were perfect and you had 100,000 inqs, youd still have a 765 score.  Inquiries are the least of the issues.

How is utilization on your currently open cards?  Over 35% overall util will drag your score down.  Itll increase if you lower it.  (I dont know what yours is at currently)

Where are you getting your scores from?  They are all over, makes me think either they dont have all your info or one of your credit reports doesnt list all your derogatorys?  (Maybe EX deleted some early?)

For now, keep utilization under 25% if you can (score bump) and let your accounts get a little older (another score bump)

Other than that, you need to work on your derogs.

Have you gotten your freebie annualcreditreport ? 

(Ive got mid 650s score and over 50 inqs and still getting cards and CLI approvals)

[Anonymous]

I was planning on doing just that with collections i used scoresense I was thinking of just getting them here maybe all are not reporting, I'm not sure, currently I haven't used any of the my open cards not sure how to as of now, was thinking using them and paying off before statement posts. I have not used annual credit. Ill pull them somewhere else and update

[jamie123]

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@Anonymous wrote:
I was planning on doing just that with collections i usedscoresense I was thinking of just getting them here maybe all are not reporting, I'm not sure, currently I haven't used any of the my open cards not sure how to as of now, was thinking using them and paying off before statement posts. I have not used annual credit. Ill pull them somewhere else and update

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You should consider getting a $500 shared secure installment loan with Alliant Federal Credit Union. It will help give your score a needed boost in points and look good on a manual review if you ever apply for an auto loan or mortgage.

This is how you do it:

1.Open only a savings account at Alliant Federal Credit Union.

2.Fund it with $550.

3.After the account is up and running for about ten days, apply for a 4 year $500 shared secured loan.

4.Shared secured loans have guaranteed approval because they will lock your $500 in the savings account.

5.They give you your $500 back in the form of a loan.

6.Setup automatic payments from the savings account.

7.Sit back and enjoy the extra points coming your way because the payments take care of themselves.

At the end of the loan payoff you will have about $23 left in the savings account because you started with $550. The extra money is to pay the interest over 4 years which amounts to about $27. Not a bad deal!

This is all done without any hard pulls! Opening savings accounts and applying for shared secure loans with Alliant DO NOT REQUIRE hard pulls.

Opening a checking account or normal loans with Alliant DO require hard pulls.