1 People Helped
Member Since: September 2012
Good article and makes sense to not get obsessed over a perfect score. I must admit I have to a degree and check my credit scores from all major bureaus at least twice a week. It's king of fun. I was in the duldrums with credit scores in the low 500's across the boards. I defaulted on many credit lines, cards and even had a short sale a bit after the financial crisis. But since I'm getting close to retirement, I decided to get my act together. I kep a BP card and always paid on time. I got the Creditone card which is not great but it boodted my score enough to get other offers. Then Cap one gave me 2, the Merrick one gave me one. I applied to Barclays and got accepted. lastly Citis Simplicity approved me for $4,800. I transferred my balances to it for 18 months and put on automatic payments so I won't worry about it.
I closed CreditOne bank because I couldn't pay on auto and it has a %75 a year fee. My score went down only 2 points and worth it.
My scores are: Trans 750, Rxperian 740 and Equifax 680. The latter refuses to delete one account I have in dispute. the other bureaus did so.
It was a long road out of the pit after paying many debtors and handling disputes correctly. Now I'll be applying for a home loan.
anothercolombian's response was:
Car dealerships are dangerous. Read the fine print before signing. When I bought my new car back in 2006, the deaker ran my credit report 28 times, even though I asked them not to do this. My credit score went down so much that I couldn't get financing. My car got repo'ed, my trade in was lost. I had to get credit on my own and was lucky that HFC could do it and got my car back.
Never again. I'll get a credit line check or preapproval and won't sign the finance paperwork they put in front of you. Btw, car dealership went out of business a few months later.
Very inspiring story! thank you for sharing.
anothercolombian's reply was:
But you should dump it after your score is in the 700s. It gas an annual fee of $75, express payment of $5, $20 for another cardholder in the family, no way to do automatric payments, $15 for credit line increases. In short, once your credit is stable and good, sat goodbye. Who needs it when, if you don't rememeber to pay ontime ypu'll pay a $35 late fee? I don't think you even get an alert to pay ontime.
This card doesn't cater to good credit. But it helps in rebuilding your credit or creating it, as they report to all three bureaus. They also have a free score and report. I haven't cancelled it yet, even though my credit is now about 775 TU and EXP, I'll be buying a house soon and the higher the better the score. Cancelling Credit One will lowere my score a bit. It's my second oldest card.