How to repair my credit?
Apr 12, 2010
in
Mobile Credit Card Processing
Ok I am 23. I am a first year grad student and I also have a full time job. I am trying to be responsible and plan for my future. I have a low credit score because of stupid stuff and now I am trying to build my credit and show that I am responsible. I have 3 hospital bills on my credit report which I just paid all three of them off, I have a utility bill that I paid off, and I have a old phone bill that I am in the process of paying off. I wont to get a credit card to help show that I can pay bills online but I am not sure who I should go through since my credit isn’t the best. any suggestions. Thanks in advance
Like this post? Subscribe to my RSS feed and get loads more!
3 comments
bdancer222 on April 12, 2010 at 8:42 pm
You should have negotiated a pay for delete for those medical and utility bills. You pay $x and they remove the item from your credit file. This would have helped your credit score. As it stands, those derogatory items should show paid but will remain on your credit file for the balance of the 7 year reporting period. Of course, paid old debt looks better to creditors than unpaid.
You may have to get a secured credit card — you pay a deposit which is held as collateral for the line of credit. Use the credit card and pay it in full every month. After a year, you can probably convert it to a regular credit card account.
It’s going to take at least 24 months of consistent, on-time payment history to even begin to improve your score.
General Custer on April 12, 2010 at 8:42 pm
Get copies of your credit reports and be sure they correctly reflect you paid.
J J on April 12, 2010 at 8:42 pm
Well it sounds like you are on the right track, good for you.
As for your question, even though you are in the process of correcting your credit, you’ll probably have to go with a small amt subprime WFF, MBNA, or CapitalOne card. No biggie. Rebuilding you credit takes time, and these are the beginning steps =)