Good Credit??????????

Question

I just got my credit report this morning and there are two things negative on it. Well, when those are paid off, why is that I still won't be able to get a credit card, and is there any way that I can build my credit up again? I have small bills like columbia house, bmg, but can't get approved for anything, but the checking account, that isn't helping. someone please help me.

Answer 1

Negative credit can show for 7 years. realize that everytime you apply for a credit card, it lowers your score, same as if you need to rent a place they do a credit check. All of this lowers your score. BMG and cell phone don't really affect your credit in terms of building credit (but they do hurt if you don't pay). Try going to your bank and getting a CC from them with a very low credit line. Use it and pay it off every month. After a while, your credit will increase.

PAY YOUR BILLS ON TIME!!

Answer 2

Why do you want a credit card? The only thing a credit card will do for you is let you spend more than you make. And when the bill comes in, where will the money come from?

You don't really need a credit score. All it tells a lender is if you can manage your money well or not. A large amount in a savings account will do the same thing - plus, YOU earn the interest instead of paying it! If you ever have an emergency, you can go to your bank and take out the money without worrying about getting a loan.

If you decide to buy a house, the lender will want to know if you are likely to pay for it. If you've paid your rent, utilities, and other bills on-time and have over $10,000 in the bank, they won't really care what your credit score is.

If you're willing to pay the credit card company $100 every month, take that money and put it in a savings account. Before long, you'll pass that $10,000 mark.

Answer 3

one of the fastest way's is you can open a account with truecredit.com. They are a reputable agency to pull all three of your reports up along with alerts to let you know who is checking you credit & help you see your scores.. This also does no harm to your scores so that your rating does not drop any lower. You can file a dispute online with 2 of the three agencies & make sure they list the account as closed onyour report.The other one which would be equifax once you request your report online with true credit it will give you the number to call. This will take three weeks.You can also try Orchard bank they defintaly help people with bad credit. you can og to thier site & it would be better to get qualified over the phone instead of doing it online. They start you about $300 & raise it avery 3 months......Some people do not like Capitol One but they serve a purpose you can try to get a card thru them also. ummm about the 7yr thing it is 5-7 yrs from the date closed but as your credit grows you can possibly talk to your bank about qualifying for a loan based on a CD account where you can make pmts to. You dont get the money up front but it will show on your credit report..... hope this helps

Answer 4

Give it some time. Those accounts take a few times to update at the Credit Bureaus. It usually takes a few moths. In the meantime, go to your bank and ask about share secured loans or something like that. It could help. Keep you accounts in good standing...and if you end up getting a crdit card keep your ratio below 80%. Like if your limit is $100, keep your balance at $20 or less.