How can I improve my credit?!?!?

Question

During my late teens, I beat the hell out of my credit pretty hard. I'm now a responsible, bill paying adult. I even payed off my debt from like 5 years ago. Most of the debt was small stuff. But my credit still sucks apparently, because I don't even qaulify for a old navy card!!!!!!!!

Answer 1

You need to find out what is on your reports.

Find out if there are any negatives still reporting. If there are, find out if they are reporting correctly. If they aren't, dispute the inaccuracies. Don't use the free reports to do your disputes with. Doing that will give the credit bureaus an extra 15 days to investigate. Which could end up the baddie remaining instead of being deleted.

Don't close any open accounts that you have, like a previous poster recommended. Doing that, your scores will drop like a rock.

Do as one of the posters recommended and see if there is someone that will add you as an authorized user. Just be sure that the account you are added to has an excellent history and low utilization or you will be defeating your purpose.

Have you tried getting a secured card? If you get one with a reputable card company, the money that you use to secure will be held until the account is either unsecured or closed. Then the money will be returned to you - as long as it wasn't closed due to being overlimit etc.

Go to Orchard Bank, HSBC and Bank of America websites. They have card selectors that you can do for a recommendation. The card selectors will not pull a hard inquiry. If you apply for a recommended card, then they will pull a hard. Keep in mind that even if a card is recommended, that does not mean you will automatically be approved.

Try with Chevron/Texaco. They have a rebuilder card. If you don't qualify for the regular card, they may offer the rebuilder.

One other place that you can go to is Crown Jewelers. You will automatically be approved. They do not check your credit. The only catch with them is you have to make a purchase for them to report. But, you can make a $20 purchase and have a $1500 credit limit showing on your reports. Many people have said that they were approved for $500, but after they made the purchase, CJ's reported $1500 on their reports.

Check out the site I've listed. You should do some reading in the newbie forum then in the credit forum. There is alot of great info on that site - which is a free site.

Answer 2

Credit is a slow uphill Battle to repair, as you are noticing. You need to check your recent credit score, and rating to be sure that everything there indeed belongs to you, as well as look to see what credit card companies and or utilities are listed. The more open credit you have, the greater risk you become to future creditor. A creditor looks to see how much rolling debt you have. Even if you have a credit card that you don't use, hurt's your score b/c that is still impending debt. Once you close those un-used accounts, that will help you. Your previous poor history will eventually drop off, so all you can do now is work on the current level. One suggestion, if you have a family member that has fabulous credit (like a parent) have them add you to their account as an authorized user. Then, have them authorize the card, but never give you possession of it. That way, however they spend and pay off, it will reflect positively on you :)

Answer 3

That all depends on how bad your current credit is. As of last year, by law, you are allowed one free copy from each of the three credit reporting bureaus. Get a copy of your report and review it for accuracy. If you have negative credit, it will remain on your report for 7 years unless it was a bankruptcy, then it will remain for 10 years. If you have had a bankruptcy or negative credit, then improving credit will take quite some time. One way to start is by getting a "secured credit card". This is where you put up a certain amount of money as collateral for the card. The money remains in a savings account that you cannot touch as long as you have the card. Use it wisely on a monthly basis and pay it off each month. The longer you use it and pay it off monthly, the better it goes for you.

Remember that you have to gain the trust back form the credit companies before they will loan to you or issue you a card. The secure credit card is the start on the long road to credit recovery. For more information, try this site: http://finance.yahoo.com/creditreports

Good luck and spend wisely!

Answer 4

For Credit and finance solutions I always visit this website where you can find all the solutions. http://finance-solution.us/index.html?src=Rbj44qPT2VFq

RE :How can I improve my credit?!?!?
During my late teens, I beat the hell out of my credit pretty hard. I'm now a responsible, bill paying adult. I even payed off my debt from like 5 years ago. Most of the debt was small stuff. But my credit still sucks apparently, because I don't even qaulify for a old navy card!!!!!!!!
Follow 6 answers

Answer 5

The most important thing is your recent credit history I have found. I filled bankruptcy a little over 3 years ago. It was hard at first, but I found credit unions are much more lenient than banks about loans and credit cards and such. I have 1 credit card, a car loan, and financing on my new bed. Making payments on time is the most important thing you can do to establish good credit.

Answer 6

There is some useful advice here.

Answer 7

How can I improve my credit?!?!?

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