cakesntae531

Whoa waaaay harsh! R-E-L-A-X!! I think what Camalott MEANT to say is, what is your credit score currently?

Pull all three of your reports. I am in my 2nd year of college and my student loans have had 0 effect on my score negatively.

It's actually better for your crdit score if you show 1% to 4% utilization on your cards. Crditors want to see that you can handle managing a crdit card and if you pay it off each month, it does not relfect that you are using your credit.

Thanx everyone. Old Navy is actually one of the cards that I do have and yes they do report. yay!!

ps, a checking account or a money market is not going to help your credit score. Obtaining bew credit will over time with a good payment history will boost up your credit.

No. The reason that your score is low is that you have 0 utilization. Credit card companies want to see a credit history with activity. Because you are paying it off, they do not see any use on your cards because your bills are closing at 0.00. And it is proven that people who have a utilization of between 1% and 5% typically have a hgh end credit score.

That is kinda true but... Say you had a checking account that charged off (went negative and was closed by the bank due to the negative balance usually after 30 days negative) well the bank puts you into Chexsystems which is like a credit report for banks. It is not affecting your credit score at this point. However if the bank cannot make payment arrangements with you or you do not pay the balance back that they ask for, then they will outsource your account to a collection agency who WILL report it on your credit report. So like I said its kinda true but there are a lot of details involved in between checking accounts and credit scores.

You need at least a 620 score.

I would raise your score to at least 650 to get a somewhat affordable loan. Even fha loans require you to have a 620 or higher score. And no white, black, asian, gay, straight, etc.. have absolutely nothing to do with it. Y should or would it?

I went from a 565 to a 656 in about 2 months simply by paying off my credit card debt to ring my utilization down and opening a new card. Try the ones credit karma mentions are for your type of credit.

I work at a bank going on 7 years now, and I want to tell you this is NOT TRUE!! Depending on how far behind you are the bank can and will forcose even though they are cashing your checks. The one thing that I can say is PLEASE PLEASE stay in contact with the bank and try to work out some other arrangement. Chances are, the bank does not want to forclose, but will, if they feel you are not being uncooperative when they try and contact you. Keep trying even though you were denied for the hardship program. Ask possibly for a modification on your loan?