Credit Advice

good luck...

I'm not sure what the problem is. Your "$200.00" earns interest. Not much, but better then nothing!

I know what you mean. credit cards are no good unless you have good credit. but even if you do get a secured card, like the ultra vxvisa, they still report your progress to the credit agencies.

I agree and I would like to tell everyone the Credit card I currently use. Its called Account Now Credit Card. It lets you borrow money if you have direct deposit on it (I do this). I only started doing this like one month ago and everything that I borrow and pay back is reported to the credit agencies. I think I might pay for a monthly maintenance fee of 9 dollars but thats all. You can pay bills and every 30 days they report it so you will see progress on your credit history right away.

Another way to check for the unsecured card is to go to Bank of America and get a secured at first(it is in a holding), and if you use the card alot..it becomes unsecured quickly, and usually the limit is raised.

Do I have any chance of buying a house with a 634 credit score if i have a co-signer?

If you're buying a house and have a low score, you may already know that the first order of business is to pay off any past-due amounts and collections. Your loan officer will tell you what to deal with first, then do a "rapid rescore." If you can get to 680 or 700, you should be OK. Avoid asking for a co-signer and look for an REO (bank-owned) property. Be prepared for one or more sales to fall through at the last minute, though. This is how I bought my house. Just don't go crazy opening a bunch of new accounts to fix up the place, or you'll be digging yourself out all over again! Budget one doable (affordable) project per month: paint this room, put in that fence. And pay your cards down ASAP or pay cash!

I have an unusual credit profile that has a low score. I have tried using the simulator to see how to raise my score but it barely changed regardless of the options I chose, positive or negative. How can I get a strategic plan of action to legitimately raise my score over the next few years based on my actual credit history?

What is the difference from a secured credit card and a unsecured credit card?

Thank you Pizzley! That sounds wise.

To elaborate, I currently have no open credit card accounts or other monthly bills. I do have about $2000 total of bad debt, divided by about five accounts that have been written off and sold to collections people about a year ago from when I was laid off from my second job and just couldn't stay and school and pay the monthly card bills. I'm thankful for the credit because I couldn't have afforded my college books and fees with the case I had.

I just graduated college and my loan will be $50 a month since I worked my way through and only took out $8000 of student loans for the 4 year information technology and business administration dual major bachelor's degree. It actually took me six years, but I'm done and hope to enjoy a better income and job satisfaction than I have been getting out of working as a domestic.

As you suggested, a secured credit card would be helpful. Paying my student loan on time will help, Of course, the collections people call often with settlement offers that I can't afford yet this year. I like to pay what I owe legally and morally though I'm not in a hurry exactly as I have basic needs to meet and don't really think sacrificing food or dental cleanings to pay the settlements will really help my credit situation or score at all. I don't imagine I can get any type of loan like a car without a huge down payment and 14% interest for years to come even with higher income from a new job.

My room mate, who is also my ex g/f but now just my best friend suggested maybe getting one of her credit cards with me as an authorized user to help my credit. That is sweet of her to have faith and be so trusting of me though I don't think that would really help my score enough to matter, or could it?

If anyone has any suggestions for new college grad, I'm all ears. I was reading about establishing an emergency fund in the paper so I'm working on that now.