1 People Helped
Member Since: December 2015
Don't call recon. Wait to hear their response first. There have been lots of bad feedback calling Chase recon for CSP. If you have any other accounts with chase, you can log in and see if you got approved there. If they deny you, then call recon, maybe even a few times to try to get a yes.
fleuriste's response was:
Most landlords do not report rental payments to CRAs. However, it is possible to do this. If your landlord accepts payments through erentypayment or Cozy.co, there is an option for the tenant to have the payments report.
The credit reporting agencies like to see that you are using your credit responsibly. If you pay off your cards, it looks like you are not using your credit. Try to add a third card if you can, then allow one card to report a small balance of less than 9%. This should improve your credit score.
There are now websites that will collect rent and report payment history to CRAs for a nominal fee. eRentpayment and Rental Kharma are just two of these sites. As a landlord, if I had a tenant who was interested in such a feature, I would certainly try to accomodate my tenant. For instance, eRentpayment costs $3/month to collect rent, which can be split or paid in full by either party.
fleuriste's reply was:
If you can get your landlord to agree to switch payments through erentpayment or Rental Kharma, they have an option to allow you to report your rental payment history to the three major CRAs. I don't know how this would impact credit scoring.
Hop over to the MyFico forums. They have good advice as to what cards to apply for when you are building your credit. You might start with a secured card and move up from there. You might not be quite ready for rewards cards, but the people there will know more than I do on that.
You need to check your credit report. A lot of things can result in a large drop, but it is just speculation until you look. If your credit utilization is high, then your score will drop even if you are making the minimum payments. If you cosign on a loan with someone else and they fail to make a timely payment, your credit will take a hit. If you look at your Credit Karma score reports, they should show some sort of derogatory information (an old collection gets reported, a late payment, etc.)
Get your credit card utilization to under 10%. If you have more than one card, only carry a balance on one. If you keep your utilization low, you should start seeing an increase in your score. But understand that you credit cards are only going to report to the CAs once a month, shortly after a statement cuts.
I'm not sure if it helps to report your rent, but there is a website called eRentpayment which will report your payments to a credit agency if you elect for them to do so. Through this website, you can pay your rent automatically to your landlord and it costs only $3/month. I wouldn't pay $10 a month for this service, but I'd consider $3/month. You would have to get your landlord to agree to sign up for the service. As a landlord, I welcome online payments, but I woudln't bear the cost of it.
My Chase accounts report to the credit agencies about a week after the statement come out.