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seniorlovedaddy

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Applying for new credit with derogatory marks on credit
I currently have a credit score of 630 from both transunion and equifax despite having three derogatory marks in my credit history. This feat. is due greatly to my steady stream of early/on-time payments to fingerhut. As of late I have been plotting to make a big purchase through Maingear PC using their financing program, however I'm afraid that I would be turned down due to the still open derogatory marks on my account. I was recently turned down for a small car loan from a credit union, because of the open derogatory accounts totaling near ($2000), despite at the time of application having a credit score of 660.

Would you guys say that it would be a safe bet that I would be approved for maingear financing if I paid off the derogatory marks first? Even if they remained on my credit history showing that I paid in full?

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We have no idea as we do not underwrite for Maingear.  You would definitely be better off without the derogs than with the derogs so see if you can address them.  A paid derog offers little to no benefit.  You want to aim for removal where possible.

Keep in mind that the score that Maingear uses is what matters.   If they do not use a TU or EQ Vantagescore then the scores from Credit Karma will not be relevant.

Reply by
seniorlovedaddy

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Thanks for the advice. This definitely helped.

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