What to do about bad credit

[Zeryl]

I checked my CR today, and have 570+ on all three, with the highest number being 592.

I have one charge I have not paid off (plan on doing that in the next week).

I have two old CC's that went to collections, and paid off 2+ yrs ago. I have a bally's loan out (never late 2.5 years), and my two student loans (combined 3200), which have never been late (4 years now).

I know my credit is quite low for a normal CC, but I'd like to stay away from a secured card as I don't really want my money tied up like that.

Anyone have any advice to help bring my score up into the mid 600's?

Thanks,
Z

[MidnightVoice]

Zeryl wrote:

Anyone have any advice to help bring my score up into the mid 600's?

Read the entire message board? 

[Zeryl]

Aye, I've been doing that. Just hoping for some advice for my situation. Any advice on a CC that I could get to assist that isn't secured, with regards to my CR? I'm not looking for anything big, just a couple hundred dollars.

[Tuscani]

Welcome... I suspect you have not read the entire forum yet. How about starting with the Scoring 101 thread?

[Anonymous]

Try to GW the paid collections.

How old is the unpaid charge off? If it's too old to report, dispute it off. [Read Scoring 101 to know how old is too old]. Otherwise, PFD.

[MercyMe]

You might try Orchard Bank.  They're pretty lenient -- and less expensive than say, First Premier.  You also stand a better chance of CLI with Orchard, than you would with First Premier.  Also, though I stand a bit baffled about this one, you might try Washington Mutual.  My husband received a Wamu ESPN, recently, with  a $2000 limit and scores under 600.  His highest, I believe, was 592.  His lowest 548.  He has 2 collections on his reports and a couple of late pay accounts.  He likes to charge up stuff and then not pay -- please don't do this!!!  Use the card to build a sound payment history.  That is key! This is the third time I've been hardpressed to get his credit cleaned up. 

Also,  don't pay your charge off without an attempt at a PFD.  My own experience with a charge off has been a nightmare!  If only I knew then,  when I paid it, all that I know now, thanks to so many in this forum. 

Heed the wise advice in here -- should you get a card.  Keep the balance low -- between 1-9%.  Pay particular attention to Tuscani and Noah_Bodie's posts on this.  I wish you well!

:-mercy

Message Edited by MercyMe on 06-23-2007 07:23 AM

[Zeryl]

Thank you for the information. I'm gonna take some more time, learn all the abbreviations that I don't know from the last 2 days reading, and try to come up with a plan. Looks like the one open collection left on my account, was opened on 12/1/2004 (Calvary). Amazing since it should have been about two years previous that it hit, but I guess Sprint held on to it for 2 years before selling it. I do wish I had known about PFD when I paid off two collections back in early 2004, would have been much better than paying them, and them still being on my report

[MercyMe]

You can still try writing goodwill letters to those you previously paid.  They may delete them.  GW is goodwill.  PFD is pay for delete.  CLI is credit limit increase.  I know.  It can be confusing.  But you'll catch on quickly!  I promise.  Hey!  Look at me!  I'm GWing and PFDing all over the place and I'm still new here, too!

[Anonymous]

best thing to do is come up with a plan, like you said you are going to do.  if i had known a year ago what i have learned in the past few weeks, my scores would be rockin' right now.