jte1958

Think about it. If you rent a couch for example, you really can't afford that couch. You pay 80.00 a month for the couch. You will pay you will pay $960 for the couch. You can buy really nice couches for 200 or 300 dollars.

No. The only thing that raises or lowers your score is credit inquiries and reports from businesses.

Close all but the oldest card.

NO. Get a 15 year fixed rate mortgage where the pymt is no more than 25% of your net income. Yes the rate you recieve may be better BUT the one time that rate adjusts do you think it will adjust downward?

Go into debt stay in debt and have a good payment history. Don't worship at the alter of the great FICO. www.daveramsey.com.

The only way to raise your score is to go into debt, create more debt and stay in debt. Your credit score is figured by four factors. The length of time you have been in debt, the amount of debt you have, the type of debt you have, and your pymt. history. Your credit score is NOT a measure of wealth it is an I LOVE DEBT SCORE. If you really want to be successful with your finances go to www.daveramsey.com.

Stay debt free. If you feel you need a card keep the oldest and close the rest.

Depends on have many years "several years" ago is. I think negative entries stay on your report for 7 years. If you still have the accounts open CLOSE THEM ASAP.

They may laugh you out of the bank or if they do loan u the money your rate will be atrocisis. My suggestion would be to buy a car you can afford to pay cash for. Every month put what you feel you can afford as a car pymt. into savings. ie: $1500 cash for a car. Save $250 a month for 10 months. You will have $2500 plus maybe $500 you sell your old car for. That gives you $3000 for a car buy a $2500 car for cash and continue to save $250 each month. Then do it all over again. You will gradually get better and better cars but won't be constantly paying the bank a pymt.

File a protest with the reporting agency. Ask them to verify that the accounts are true. While you are doing that place a credit fraud alert on your record with all three major reporting agencies. The agency has 30 days to verify the balance is yours or remove the negative activity.

IMO close all cc's asap. Your credit score is not a measure of wealth or lack thereof. I have a credit score of 780. A friend of mine makes twice what I do but his score is in the 690's. Now if we were to try to get a mortgage I would get the better interest rate bc of my higher score but in reality I would be far more likely to default on the loan bc of my lower income. You can get a mortgage if you can find a lender who does manual underwriting. Yes, your rate may be a tick higher but at least you will qualify for a mortgage that is truely affordable for you.

Just fyi I recently shopped for a car loan. My CU rate was the same as all others but I received a 1% discount for being a member.

Yes. Banks are scrambling to replace money that was taken away from them by the reform act.

You can go and get a free annual report from all threee agencies. www.annualcreditreort.com I think.

You will be taxed your current rate plus your employer can withhold a fee for the dispusrsement. At least I think this right.

Because u have a very short credit history.

Your score will be trashed at least for 7 years.

Call the report holder and dispute the entry. Then write a follow up letter reviewing what was said in that phone conversation. You can also dispute an entry by going to the website of the report. You can file a fraud victims report with each agency.

35% of your credit score is your payment history. the other 65% is how much credit you have the type of credit you have and the age of the credit. Your credit score is not a measure of wealth it is an I love debt score.

Bottom line the only way to do this is to get a loan and pay it off. You may have to accept a higher rate on this loan but that is how it is done. I suggest you save a big down payment and get a loan you can pay off in a year.

Points are nothing but pre paid interest. You pay 2 points to reduce your loan only to pay that 2% again as you pay off the mortgage.

You can't fix your score and get out of debt. 65% of your credit score is based on being in debt.

Personally, I feel that credit cards are unnesessary. Save up and pay for items with CASH. You can build a credit rating by paying things like you utilitites rent cell phone etc. on time or early. It may take you longer to build a good score but you don't run the risk of getting in over your head.