credit help?

Question

i have 3 small credit cards owing 300. id like to get a loan and pay them off and then pay that loan monthly as one payment instead of the 3 each month. however with 2 credit bureau's im in the low 500's like 565. transunion gave me 603. i always get denied therefore i was considering debt consolidation. i am 23 and not married, but would like to be soon. all this low credit worries me it will affect my future husband's credit-he has exceptionally good credit. like 700's. is debt consolidation at my age the best?i have delinquent accounts taken to collections that got paid off but remain on my report for 7 years. i also may have gone over credit limits a few times, but always paid quickly afterwards. is debt consolidation for me or what is? please help

Answer 1

there are over 1,700 factors that go into your credit score

Here's how to improve:
1) don't change jobs every month
2) pay your cards ON TIME - and make the payment - no shorts
3) pay them off
4) keep them away from being 'at limit'
e.g. your 3 cards have a $100 balance each -
that mean's YOU're maxed OUT on existing credit
o u c h !
5) don't apply every week for a new card - makes you look desperate for money

all the best!

Answer 2

your entire debt is $300 that isn't bad. Keep the three accounts open start with the lowest account and pay as much as possible over the minimum payment while making the minimum payment to the other cards. Once that account is paid off apply the extra money to the next card until all cards are paid off. Close the accounts after paid if you wish.

The reason for not consolidating the three cards will also do a credit report stating the accounts are paid as agreed which will help your credit score.

Answer 3

First quit using the credit cards if possible. If the balances only total 300 you should be able to pay them off quickly if you don't use them. |You want start by paying extra on the card with the highest interest rate maybe double or triple the minimum payment or whatever you can afford. When that card is paid of go to the next highest rate card, then finally the last card. One of the factors into your credit score is the amount you owe compared to the high credit limit. Generally you want to keep the balance at 50% of the high credit limit or below. When all of the cards are paid off and you credit score has been rebuilt cancel all the cards but one and request a limit increase on the best card.

Answer 4

You will pay more in interest for a consolidation. Take a good look at your debt. List who you owe, their payoff balances and their monthly minimum payments. Notate any that are past due and the past due amounts. Are you still being contacted by collection agencies or being sued? Highlight those. Now, with your income, what can you pay off, even in installments? In addition, since you are getting organized, what improvements can be made to your credit report at the same time? I do this for a living. I own both a collection agency and a credit repair business. There are ways to get the negative reports deleted. If I can answer more specific questions, feel free to email me. Good Luck.

Answer 5

no, just double the payments you make each month. If minimum is 15, send in 30. Keep doing this, it will build your score up, and keep track of your balances so you won't go over what you have.