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CTUCK1805

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My credit score is 588
My credit score is 588. I started with no credit... Got a couple acconts open like fingerhut, etc. But i have no credit cards yet because of my score.. I just recently paid off a hospital bill that was sent to collections.. (Im still waiting on that situation to boost my credit score).. What can i do to raise it to fair or good credit mark?

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you're headed in the right direction...

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if you haven't yet, open accounts with a local bank branch.  you want a checking account with free bill pay and 2 savings accounts  One is your emergency fund.  Set up an automatic transfer of about 5% of your paycheck every week.  The second I call a lifestyle account .  This one is where you put as much as you can when your saving up for a big purchses, Chistmas Gifts, vacation, new computer, what ever. Once you have credit cards you save money here to make those big fat payments on your account that really help to boost your score.  As a rule of thumb, When ever you use a credit card, ask your self how its going to be paid. If you don't know then you shouldn't use credit to pay for it.  

After you have $1000 in your Emergency fund, Go to your bank and ask them to use that account for a secured Credit card. Your account will be used to secure the card.   Make those payments every month, and with in a year you should be able to start getting unsecured cards with higher limits  and your score will go up over time.  

Hope this helps.  Educate yourself and you will be in control of your credit and not the other way around. You've taken the right first steps.  Keep it up

Good luck  

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order from fingerhut (a little) and pay it off.  then just wait and be patient.

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