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Credit Debt As College Student
Hi everyone,
I would like to share my experiences here on Credit Karma INC. I signed up for a credit card at 18 and had always, always made on-time and before-time payments. I ended up missing upon a payment due to both economical and health situations that were out of control. The Bank as a result REFUSED to negotiate with me over a $35 dollar fee and kept charging my account. I was bounced, redirected to both managers and employees who offered no relief and refused to help. Because of the actions of the creditor mentioned above I was forced into a DMP despite being a loyal customer of 8 years.

As a result my credit took a hit from 700 to 500 due to the creditor. What are the ways that a credit-score can be raised without use of a secured card?

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I suggest reading the articles on this site because Credit Karma's purpose is to teach about credit and how to build it.  Honestly, you will likely need to get a secured card to rebuild your credit, but I might suggest holding off until possibly your senior year.  You need to have the money to deposit and the consistent money to pay the card.

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Maybe these options?

As you may know overtime, a late / missed payment has less of an impact however, because of previously higher score a missed or late payment has a larger penalty than if your score was already low say mid 500's ( there way of saying you should know better with a score like this I think). Since legally they cannot change a payment history all you really can do is overshadow it with more ontime payments and simply let time pass. You could also do a dispute and provide documentation proving you made your payments on time and that you were not aware that the fee was being carried over. 

However, long as you payment status is current (whether the account is closed or open), you may start to see a bounce back. I would also utilize credit karma's score simulator if you havent already on what your score may look like if you make ontime payments for 6 or 12 months etc. One final point may be to close the account, stay current or pay off the balance then send a certified letter requesting to be removed. Downside to this is you lose 8 years of credit history and age, so becareful. Hope this helps. 

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