September 11, 2011 | Posted by admin
I am a 22 year old grad student. I have had 2 credit cards since I turned 18 and have never had a late payment. I have one account that is about 2 years old that had ONE late payment when I had my child about 1.5 yrs ago. So over 4 years, I had one late payment (30 days late). I had a medical bill from my daughter go to collections that her father was court ordered to pay but it still went to my report instead of his 
I paid it off the moment I saw it pop up on the report so it showed a red box on the report for only a month. So basically I have two negatives (the one late pmt about 1.5 yrs ago and the collections account that was not my fault). I have 4 open credit card accounts right now, and also a car loan that I have NEVER been late on nor any of the cards. The kicker is I have 70k in student loans from my private school and masters program. I will be in the health field and hopefully will have no problem paying them off since they are 90% federal loans.
My credit score is only 647…I would like to buy a house in a few years but I just feel very discouraged that my score went from 747 down to 647 from those two negatives. Is there hope for obtaining a mortgage in say, two years, if I keep my perfect payment schedule? Or will my student loans drown me? I just need HELP!! Thanks so much!
Categories: Improve Credit Score | 
Tags: car loan, collections, credit card, credit cards, credit score, federal loans, grad student, health field, kicker, masters program, medical bill, mortgage, pmt, private school, student loans | 
1 Comment »
September 7, 2011 | Posted by admin
just checked my credit score – it is (embarrassingly) in the high 500s. Yes, it sucks.
There’s nothing really terrible on my credit report – no bankruptcy, no collections. I was late 30-60 days a few times, but that was back in 2003. Everything has been current and paid on time since then. I believe the thing that is lowering my score is my credit usage/utilization – almost 100%. I have about 5K in CC debt on 3 CCs.
Now that I can afford to pay this off slowly, would it be better for me to pay off one CC at a time or a little off each one, gradually paying all 3 off? Does it make a difference?
I don't think there’s really much more I can do to improve my credit score except to pay off this balance and increase my available credit. Would it help to get a secured card with a high credit limit (which would increase my available credit)???
Help me please.
Categories: Improve Credit Score | Tags: bankruptcy, ccs, collections, credit report, credit score, secured card | 6 Comments »
September 3, 2011 | Posted by admin
I got in over my head when I was 18 and some of my accounts went to collections. A few of the accounts are dropping off of my report over the next few months and others I am paying and getting taken off of my report through validation and settlement.
I feel that I have learned my lesson from my actions through a lot of research I feel that I have a much better knowledge of the credit system and how to balance my finances. Just recently I opened a few credit card accounts to rebuild my credit. I have kept the balances under 40% and paid them on time every month. This has helped raise my credit score a bit. I expect that the old accounts dropping off of my credit report and others being paid will help as well.
In September I am planning to purchase a car. I have saved up a sizable down payment, k but by then I will have k. I am putting down 5-6k and then paying down the loan by 2-3k.
Any suggestions ideas to help me raise my credit score? Car buying advice? My score is currently 550
Categories: Improve Credit Score | Tags: 6k, collections, credit card accounts, credit report, credit score, validation | 6 Comments »
August 30, 2011 | Posted by admin
I am looking at getting a loan for a home. I have an inharrentence that will be paying my monthly home loan as well as a possible ,000 down payment. My grandfather is co-signing for the purchess of my home.
I know that by doing it this way the loan will be based off of my credit score. I have a credit score today of 586 and need it to be 600 for some and 620 for fha loans. How do I boost my credit score in the next 30 days. I need to be out of my current place in 60 days.
I have never had a credit card and I still do not have one. I have prepaid credit cards. I have never been approved for a credit card since the day I was 18 years old. I have debt not much just a bunch of little collections most under 0. a couple over 0 but no more then ,000. I was told to pay the small ones first. I was then told dont pay them at all. I dont know what advice to take. I have searched this for months now. I can have all my debt payed off in one day if that is what needs to be done, but I was told that would make it worse, I was told I cant do nothing until I get a credit card or other credit related loans but i cant be approved for those until I have a higher credit score. I am stuck between a rock and a hard place. I need my credit to be at least 620 with in the next 30 days. Who can help me make that possible.
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Categories: Improve Credit Score | Tags: 18 years, collections, credit card, credit score, current place, fha loans, getting a loan, home loan, prepaid credit cards, rock and a hard place | 3 Comments »
