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Anonymous
Building credit score help 2017-08-21 07:08:19 Post No. 3157460
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Building credit score help 2017-08-21 07:08:19 Post No. 3157460
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My credit scores are currently 512 (EX) 576 (TU) and 612 (EQ). My credit history was jacked up pretty much from the beginning, I made the mistake of paying for college and when I graduated there were no jobs so I have several months of rolling 180's and collections on my history from that. However, since 2014 I found several great jobs and I have everything current or paid. I just recently paid off all but one of my collections. I only have one credit card (Limit 1k) and I keep it at $100 usage or less. I have an auto loan of 10k starting since March of this year and it is also current. insurance payments, student loans, utilities and rent are all perfect since 2014. My scores were horrendous back in 2012 obviously but they have been very slowly but steadily improving. I'm tired of my poor history, which was completely not my fault, screwing up my life. I have a great engineering job that pays well and is steady so I'm finally ready to buckle down and get my **** in order. The only thing I have left is an air force loan, i was in ROTC in college and on scholarship but I was DQ from military service because I have a medical issue. They IMMEDIATELY started harrasing me for payments, I had zero dollars. I was a poor college student so I ignored them for years until I graduated and became a poor unemployed college student. It is only reporting to the EX score which is why it is so much lower than the others and has been listed as a charge off with no activity since 2013. They keep taking my tax returns though so I assume this isnt the sort of thing that will go away in 2020 after 7 years right? Also I have a plan to get my credit better and I'm starting to act on it but I would like some advice/critique on that. I plan on setting up an authorized user thing with my grandmother, she has excellent credit and her budget is very consistent due to retirement so her usage and such is going to stay the same so it should help me out.
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I also plan on breaking off of my parents phone plan and getting a contract of my own, just another recurring payment I can prove I'm responsible enough to pay. I also plan on getting another credit card or two, most likely secured with a graduate to unsecured program. Will consolidating my loans help my score as well? How about a second auto loan if I can get approved for one? Any other suggestions? I'm very responsible, live well below my means and I make great money now that I finally landed the dream job, its my really really horrible start that is screwing me over and over. Ultimately the goal is to get my score high enough to qualify for a good FHA program so I can buy my first home. Housing market in my area is only going up and I want to get one while its cheap so I can rent it in 10 years to help with my second loan. I think I covered everything but if there is some other info needed to advise just ask and I'll answer as long as its not personal.
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So is everyone here only a bitcoin enthusiast or are there people with actual credit history in biz?
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Be patient.
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>>3157680
Take a look at Credit Karma. I've been obsessed with my credit score since I turned 18 as I wanted to start building as quickly as I could. CK helped me every step of the way to 'Excellent' credit rating.
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>>3157800
Ive used credit karma to come as far as I have. I used to have a 520 TU and a 523 EQ before I started. Not sure what EX was but I'm sure it was sub 500. Credit Karma doesn't have advice that is specific to my exact situation, I've tried posting on their forums for personalized financial advice but have yet to get any answers. I'd prefer not to pay some guy $75 an hour just for him to tell me to get a second credit card.
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>>3157463
Your credit history will be there for 7 years. You will still get penalized until it goes away. You also took out a loan 6 months ago. That dings it too. Taking out more cards will hurt it too. Eventually it won't but it is another ding.
Stop taking out loans and pay down your student debt asap. That will help too.
Honestly, a credit score is nice to have high only if you want a loan. My credit score was 720 as i got dinged due to my credit card getting cancelled due to inactivity. I just showed my assets to the mortgage company and they gave me the best rate. Payed cash for my car. Literally see no point in credit or maintaining a score. It's a nice way to live.
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>>3157936
Taking the auto loan improved my credit score because my credit history is long but thin. lenders like girth I guess so diversifying helps. Another reason I'm considering the phone plan and the secured cards is to widen my areas of revolving debt to manage. I don't want to go no credit score because I want to buy houses. I am paying my student loans.
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