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Got Bad Credit?? Need It Fixed??

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 7 years ago '05        #331
Y.G. 27 heat pts27
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Yoooooo! Anybody?

 03-29-2011, 12:36 PM         #332
feardafoot 
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I don't know what you guys think bad credit is... All i know is my lowest score is 735 right now and no one will approve me for a CC. Not even Orchard Bank.

I have 1 derogatory account on all 3 branches. It is a verizon account. Shows collection but its a 0 balance and shows paid. It was reported in 04 so it can stay on there until 2014.

Its possible i may have too much debt. Too many open accounts, or it may be the personal loan agency i use. Who knows..... Its embarrassing though i will tell you that. I also have little cards like Kay Jewelers, Lowes hardware, and HH Gregg. All have 0 balances. Maybe i should close them and get them off the reports. My girl has a 600 score and she has 3 credit cards. I have 735 for the lowest and no one will approve me.

 7 years ago '05        #333
Y.G. 27 heat pts27
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 feardafoot said
I don't know what you guys think bad credit is... All i know is my lowest score is 735 right now and no one will approve me for a CC. Not even Orchard Bank.

I have 1 derogatory account on all 3 branches. It is a verizon account. Shows collection but its a 0 balance and shows paid. It was reported in 04 so it can stay on there until 2014.

Its possible i may have too much debt. Too many open accounts, or it may be the personal loan agency i use. Who knows..... Its embarrassing though i will tell you that. I also have little cards like Kay Jewelers, Lowes hardware, and HH Gregg. All have 0 balances. Maybe i should close them and get them off the reports. My girl has a 600 score and she has 3 credit cards. I have 735 for the lowest and no one will approve me.
What bureau is saying you have a 735 score? What are the other two scores?

 NO RELIGION said
Shoot Rekonize a PM even if he doesn't post on the board he'll reply to your pm.
Got to spread breh. Good looks.

 7 years ago '10        #334
rek0nize 66 heat pts66
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 feardafoot said
I don't know what you guys think bad credit is... All i know is my lowest score is 735 right now and no one will approve me for a CC. Not even Orchard Bank.

I have 1 derogatory account on all 3 branches. It is a verizon account. Shows collection but its a 0 balance and shows paid. It was reported in 04 so it can stay on there until 2014.

Its possible i may have too much debt. Too many open accounts, or it may be the personal loan agency i use. Who knows..... Its embarrassing though i will tell you that. I also have little cards like Kay Jewelers, Lowes hardware, and HH Gregg. All have 0 balances. Maybe i should close them and get them off the reports. My girl has a 600 score and she has 3 credit cards. I have 735 for the lowest and no one will approve me.
Score really only means so much.

If your credit to debt ratio is horrible people will deny you for things even if you have a high score.

Don't close those open accounts either, even if they are showing a 0 balance, it will help your total open credit ratio. The moment you close those, it will shrink that number give you a higher ratio thus lowering your score.

 7 years ago '10        #335
rek0nize 66 heat pts66
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 younggangsta_s said
My chick has a few credit cards. All are current except one that she forgot to pay the bill on a couple months in a row and she just decided to let it go. Now they're tryin to sue her. I'm not sure if it's a collection agency or the card company.

Should she dispute the negative with the credit bureaus, try to settle, get on some type of payment plan, or just let it go and ignore the lawsuit? I believe the card is about 2 years old.
Ok, this is where you have to make an important decision based on 1 thing.

How much does she owe on the credit card she let go??

If you're being sued, you can file for bankruptcy, but over ONE credit card, I don't recommend that option at all, UNLESS its like some crazy 25k credit card thats fully maxed.
Once you have been sued and ignore the lawsuit, they automatically win the judgement and now they can detach your wages until they receive the total amount plus court costs.

In your girlfriends situation I would definitely call them up and work out a payment plan with them and settle it that way, that would be in your best interest, because if you let them detach wages they will take the max allowed by law out of her check.

Let me know how much she owes on that credit card.

You can post in this thread, I totally forgot about this thread again and now i have it booked marked to help people whenever they have questions.

 7 years ago '05        #336
Y.G. 27 heat pts27
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 rek0nize said
Ok, this is where you have to make an important decision based on 1 thing.

How much does she owe on the credit card she let go??

If you're being sued, you can file for bankruptcy, but over ONE credit card, I don't recommend that option at all, UNLESS its like some crazy 25k credit card thats fully maxed.
Once you have been sued and ignore the lawsuit, they automatically win the judgement and now they can detach your wages until they receive the total amount plus court costs.

In your girlfriends situation I would definitely call them up and work out a payment plan with them and settle it that way, that would be in your best interest, because if you let them detach wages they will take the max allowed by law out of her check.

Let me know how much she owes on that credit card.

You can post in this thread, I totally forgot about this thread again and now i have it booked marked to help people whenever they have questions.
My girl is at work so I can't get the exact amount she owes. I know the limit was $750 and the balance she owes now is $900 - $1200. I remember her saying they offered her some type of payment on their "Solutions" site. Should I tell her to go ahead with that? And what type of payment plan should she ask for? I know she doesn't have enough to pay off that balance in 1 payment.


Last edited by Y.G.; 03-31-2011 at 12:01 AM..

 7 years ago '05        #337
philthepain 
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rek0nize - what company do u recommend going thru to get a secured card? trying to find one with a low interest rate/annual fee. thx in advance

 7 years ago '10        #338
rek0nize 66 heat pts66
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 younggangsta_s said
My girl is at work so I can't get the exact amount she owes. I know the limit was $750 and the balance she owes now is $900 - $1200. I remember her saying they offered her some type of payment on their "Solutions" site. Should I tell her to go ahead with that? And what type of payment plan should she ask for? I know she doesn't have enough to pay off that balance in 1 payment.

Since it's only roughly 1k, DEFINITELY go with the payment plan, to halt the being sued process. On their site, it will usually say the different terms you can set up a monthly payment plan. Like 6 months, 9 months, 1 year etc..

If they don't she can call them up and work a payment play up with them, most people are pretty good about working with you, whatever she thinks is the MOST she can afford per month, go with that, because she will pay it off quicker and get that mess over with.

 7 years ago '10        #339
rek0nize 66 heat pts66
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 philthepain said
rek0nize - what company do u recommend going thru to get a secured card? trying to find one with a low interest rate/annual fee. thx in advance
Capital One's Secure Master Card, by far.



Only a 29 dollar annual fee. The interest rate is 20 percent though, but it's a secured card and they have you by the balls already knowing you're trying to rebuild your credit and or can't get a regular credit card and have no choice.

This is the same card I used to help rebuild my credit in the past and it worked wonders.

Interest rate really won't matter to be honest, because if your goal is to get some positive credit rolling, you're just gonna keep a very low balance on it anyway. So by doing that the interest really wont k!ll you on a small balance.

If you pay all your payments on time, up your credit limit if you can, they will turn the card into a unsecured card at some point in the future(6 months+) and send you your money back + interest.

 7 years ago '05        #340
philthepain 
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what if i already got capital one collections on my a.ss? the acct has been delinquent since 07 and it was cancelled. i still owe em 1262.10 but they sent me a settlement letter for 980.00. could i still get a secured card from them?

 7 years ago '10        #341
rek0nize 66 heat pts66
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 philthepain said
what if i already got capital one collections on my a.ss? the acct has been delinquent since 07 and it was cancelled. i still owe em 1262.10 but they sent me a settlement letter for 980.00. could i still get a secured card from them?
Honestly, they PROBABLY WONT approve you, but you can still try. If you can't or don't want to go this route try an Orchard Secured Card as it seems to be the next best one in the line of secured cards.

 7 years ago '05        #342
Y.G. 27 heat pts27
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 rek0nize said
Since it's only roughly 1k, DEFINITELY go with the payment plan, to halt the being sued process. On their site, it will usually say the different terms you can set up a monthly payment plan. Like 6 months, 9 months, 1 year etc..

If they don't she can call them up and work a payment play up with them, most people are pretty good about working with you, whatever she thinks is the MOST she can afford per month, go with that, because she will pay it off quicker and get that mess over with.
Thanks man. I'ma definitely tell her to call them in the morning tomorrow.

 7 years ago '05        #343
Y.G. 27 heat pts27
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 philthepain said
rek0nize - what company do u recommend going thru to get a secured card? trying to find one with a low interest rate/annual fee. thx in advance


I was looking at these for my girl. I was going to tell her to go with the Wells Fargo even though the interest rate is higher, simply because it's a more reputable bank and she can get an unsecured card after 18 months.

rek0nize, which one would you recommend?

 03-31-2011, 06:17 PM         #344
feardafoot 
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 younggangsta_s said
What bureau is saying you have a 735 score? What are the other two scores?



Got to spread breh. Good looks.
Truecredit.com

Trans 759
Experian 745
Equifax 735

25 total accounts
7 open on 2 branches, 10 on another
15, 17 , and 18 closed accounts
0 delinquent on all 3
1 derogatory on all 3
74,000 in balances on all 3
1,500 in payments on all 3
2 inquiries on trans, 3 on experian, and 18 on equifax (last 2 years)


Last edited by feardafoot; 03-31-2011 at 06:27 PM..

 7 years ago '04        #345
DatDurtyBoi305 1 heat pts
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Hey I have 7 negatives on my equifax and 12 negatives on my Experian. Couldn't get my transunion for some reason. What should I do first? I disputed some online. I saved the pages if you need to see them to give me a better answer. Rek0nize please help me with this whenever you have the time. Thank you.

 7 years ago '10        #346
rek0nize 66 heat pts66
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 younggangsta_s said


I was looking at these for my girl. I was going to tell her to go with the Wells Fargo even though the interest rate is higher, simply because it's a more reputable bank and she can get an unsecured card after 18 months.

rek0nize, which one would you recommend?
The Orchard secured card for sure. The Orchard card is HSBC, which a LOT of people use. I would say the Navy one, but they stopped giving out that secured card about a year ago or so or I would say pay the one time 8 dollar member fee and do that one.

Every secured card company will insecure the card at some point as long as you pay on time and don't carry high balances all the time.

 7 years ago '10        #347
rek0nize 66 heat pts66
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 feardafoot said
Truecredit.com

Trans 759
Experian 745
Equifax 735

25 total accounts
7 open on 2 branches, 10 on another
15, 17 , and 18 closed accounts
0 delinquent on all 3
1 derogatory on all 3
74,000 in balances on all 3
1,500 in payments on all 3
2 inquiries on trans, 3 on experian, and 18 on equifax (last 2 years)
So you have a total of 74,000 available total credit you could use and only 1,500 total in used credit?? If so that is GREAT.

18 Inquiries in 2 years is a LOT to have, creditors look at that when determining giving credit, they a.ssume you're trying to get a lot of credit and view it as a risk.

May I ask what the one derogatory is??? That could be the problem depending on what it is. If not I got a strong idea what it is that is getting you denied.

Let me know..

 7 years ago '10        #348
rek0nize 66 heat pts66
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 DatDurtyBoi305 said
Hey I have 7 negatives on my equifax and 12 negatives on my Experian. Couldn't get my transunion for some reason. What should I do first? I disputed some online. I saved the pages if you need to see them to give me a better answer. Rek0nize please help me with this whenever you have the time. Thank you.

Well, first off, what kind of dispute did you do?? What was the reason of the dispute??

What kind of negatives are they?? late payments?? credit cards/loans you just let go?

It seems you're in about the same boat I was years ago with quite of few negatives.

Yeah it would probably be good to see the pages to get a better understanding of everything and help you out.

 7 years ago '09        #349
mtva24 225 heat pts225
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 philthepain said
what if i already got capital one collections on my a.ss? the acct has been delinquent since 07 and it was cancelled. i still owe em 1262.10 but they sent me a settlement letter for 980.00. could i still get a secured card from them?
get an Orchard...Citi and Navy FCU next...I know Bank of America had one, not sure if they still do...Wells Fargo has one, but I think their's may be harder to get

 7 years ago '10        #350
rek0nize 66 heat pts66
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The bank of america card is through HSBC just like Orchards. That Navy card isn't offered anymore from penfed.org

 7 years ago '09        #351
mtva24 225 heat pts225
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 rek0nize said
The bank of america card is through HSBC just like Orchards. That Navy card isn't offered anymore from penfed.org
Why would B of A's card be through another bank? It says that card is administered through Fia Card Services N.A. not HSBC... And why is the Navy FCU card still on their website?


Last edited by mtva24; 03-31-2011 at 10:32 PM..

 7 years ago '10        #352
rek0nize 66 heat pts66
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I was speaking of penfed.org and their Credit Union's Secured card. Just a mix up with the one you're stating. I was thinking they were the same for some reason.

The one I'm looking at is through HSBC. Because every card isn't through the company you see on the card. HSBC are the lenders for a lot of other corporation's cards and partner with quite of few people.

 04-01-2011, 10:59 AM         #353
feardafoot 
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 rek0nize said
So you have a total of 74,000 available total credit you could use and only 1,500 total in used credit?? If so that is GREAT.

18 Inquiries in 2 years is a LOT to have, creditors look at that when determining giving credit, they a.ssume you're trying to get a lot of credit and view it as a risk.

May I ask what the one derogatory is??? That could be the problem depending on what it is. If not I got a strong idea what it is that is getting you denied.

Let me know..
The 74k is total debt. 40k left on mortgage, 28k left on car note, and the other 5 open accounts (personal loan, jewelers, hardware place)

Im guessing the 1500 is revolving balances. The 1 derogatory is on all 3 branches and its verizon wireless. Reported in 2004 i have paid it in full but it reports (collection) It shows i have paid it but it is derogatory because of the collection.

It could be all the closed accounts on my report. But they all show paid on time and in full. Also it could be the jewelry, hardware, and personal loans. The jewelry account has a 0 balance now with a 3,500 limit. Hardware is also 0 balance with like a 1,000 limit. There is also a HHGregg card i have too. Electronic store with a 0 balance also. Limit i think is 1,200. I have no idea what to do. It funny i get denied for all credit cards. I had balances on all those small accounts and my scores never really changed much so that cant be it.

I do show 2 lates on my house note from 2 years ago. Account is in good standing but the 30 days late is shown.

The inquiries on Equifax came when i got my M3. I guess they sent it to multiple banks and all of them went through Equifax. Also i have applied for credit cards in the last 2 years. My scores are almost mid 700's all the way across and i got a 8.9% interest rate on that M3. I thought it shoulda been lower


Last edited by feardafoot; 04-01-2011 at 11:01 AM..

 7 years ago '10        #354
rek0nize 66 heat pts66
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That's honestly an excellent score and good credit you have going on.

Yeah closed accounts wont harm your report, although it's best to keep them open to up your total available credit to debt ratio, and I'm thinking that's where your problem may lie.


Revolving Credit is the hardest thing to get. Cars and home's you can find SOMEBODY to give put you in either if you have somewhat decent credit. Especially since the recession hit, they buckled down on giving out cards and tightened up a lot.


Are those 3 cards that have a 0 balance reporting every month still??

When was the last time you were able to get a card of some sort and when did the decline of not being able to get a card anymore begin?

 04-01-2011, 04:11 PM         #355
feardafoot 
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 rek0nize said
That's honestly an excellent score and good credit you have going on.

Yeah closed accounts wont harm your report, although it's best to keep them open to up your total available credit to debt ratio, and I'm thinking that's where your problem may lie.


Revolving Credit is the hardest thing to get. Cars and home's you can find SOMEBODY to give put you in either if you have somewhat decent credit. Especially since the recession hit, they buckled down on giving out cards and tightened up a lot.


Are those 3 cards that have a 0 balance reporting every month still??

When was the last time you were able to get a card of some sort and when did the decline of not being able to get a card anymore begin?
Good question. These small accounts i have just paid down to 0. So i need to keep track and see if they keep reporting. I have never been approved for a credit card other than a Kay Jewelers, HHGregg, and Lowes. I have applied to Capital One, Chase, Discover, Visa, you name it.

 7 years ago '10        #356
rek0nize 66 heat pts66
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Another question:

Did you get any of the denial letters in the mail from them?? They usually send those out and give the reason for why you were denied.

With knowing what any of those say, we can start steering you in the right direction on how to get you some credit cards in the future.

Honeslty, whatever they are denying you for, it can't possibly be more than 1 reason which is good.

 04-01-2011, 07:22 PM         #357
feardafoot 
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 rek0nize said
Another question:

Did you get any of the denial letters in the mail from them?? They usually send those out and give the reason for why you were denied.

With knowing what any of those say, we can start steering you in the right direction on how to get you some credit cards in the future.

Honeslty, whatever they are denying you for, it can't possibly be more than 1 reason which is good.
Yes good question. When i see mail from cc providers now i just trash it because i dont want one right now. Actually i do but i was waiting until everything i had out besides mortgage and car note was paid off. Instead of little accounts here and there i want a good cc.

 04-17-2011, 03:58 PM         #358
IMAKEHITS 
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good post

 7 years ago '04        #359
nwo504 32 heat pts32
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i owe sprint $400 should i pay in full to raise my score? Its the only bad thing on my credit.

 7 years ago '10        #360
rek0nize 66 heat pts66
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 thatruest said
I've missed 3 payments in 4 years. I've 4 different credit accounts. Last one I missed was last month (Target, hadn't used that in six months, every month I've to remind myself I still have that). Anyway, just paid off the 80 dollar balance I had left yesterday. Is that going to k!ll me? (missing 3 payments in 4 years, that is).


Capital One-$200 balance on a $500 limit
Target-$0 balance on a $500 limit
CareCredit-$310 on a $865 limit
Credit One-$75 on a $400 limit

Nah it wont mess up your credit at all.

It takes 90 days to be delinquent and them to report you as being late. 1 late payment wont even show up 99 percent of the time.

You should be more than fine with no negatives at all.

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