Daphne88

They are removed from your report 7 years after either you pay them off or they give up trying to collect.

The inquiries by these collection agencies should be 'soft' inquiries (I think), so they won't count against you.

It's hard to say. It will remove a mortgage from your credit 'mix' (bad), but it will also remove a large debt (good). Ty using the simulator on this site and see what it says.

My husband has terrible credit, but still got a job after allowing the employer to see his credit report. I think mattzzg1 is right. They just want to make sure you're not drowning in debt so bad that you're likely to steal from them.

Check your credit reports at annualcreditreport.com. Have any incorrect marks against you removed.

Other than that there's not much you can do to quickly improve your credit score at least not from 508 to qualifying for an unsecured card.

Of course pay down existing debt, make payments on time and make payment arrangements with any collection agencies after you. In the meantime a secured card is a good choice.

No, a general purpose card like Mastercard or American Express is better. Too many store cards can actually hurt your score.

If your file is 'thin' or the store is one you shop at frequently, consider getting the card anyway. I love my Kohl's card. As a wife and mom of 3, I shop there frequently enough to qualify for their VIP awards. And since I pay in full each month, I don't have to pay their outrageous interest rate.

Credit card companies report to the credit bureaus at the end of each billing cycle.

You don't have to pay all the way down to zero, just make sure the balance on each card is less than 1/3 of the credit limit. If you have many accounts (especially store credit cards) pay off and close a few of the newest or least useful cards.

A secured credit card is a good place to start.

Get a few debts to pay (and pay them). How else can lenders know that you're a trustworthy person to lend money to?

You can get a complete detailed credit report at
annualcreditreport.com.

Good luck.

Most bad marks disappear after 7 years (bankruptcies take longer). Good marks will stay.

Say for example, you had a credit card account that you often paid late. You paid it in full and closed the account. Seven years from now, it would show simply as paid in full and closed with no reference to the late payments.

Lenders figure that if you're already paying $$$ a month on existing loans, you've got that much less to pay them.

Also, a large number of loans is seen as risky. Can you consolidate? If not, maybe you could pay extra each month on the smallest loan and get it paid off early, then go on to the next etc.

That depends... Do you trust yourself not to just max out the cards again and find yourself in twice as much debt? Be careful (and be honest with yourself).

If you decide to go for it, there may be a small dip in your credit score in the short term (a hard inquiry, a loan where the current balance is close to the max balance). Assuming you pay on time and keep your credit card balances low, it will help in the long run.

There are other things to think about too. Compare the interest rate on the loan to the interest rate on the cards. Does the savings in interest outweigh the loan fees? It may not be worth it.

I'm not sure you can do that. Good credit takes a lot of time to build. There's not much you can do in thirty days.

If you have credit cards with high balances, pay them down to nothing, or at least less than a third of your credit limit. When the balance is reported to the credit bureaus at the end of this billing cycle, you should see a boost in your credit score.

If you're paying something in installments like a car loan or a student loan, pay it in full now.

Well, if your credit is really bad you could try a secured credit card. Charge only a small amount each month and pay it in full and on time.

There are also rent-to-own furniture places that used to advertise on late night TV: "We don't turn anybody down". They make you pay through the nose, so don't get anything too expensive.

It's going to take a while no matter how you go about it. Good luck.

I don't think so, sorry.

Go to annualcreditreport.com. You're entitled to get one free report from each of the three major credit reporting agencies each year. You can get it directly from them there.