Hi - I just signed up for the Equifax Credit Watch service and got my FICO score (586, yuck!). I would like this great boards help in trying to raise that score so my wife and I can by a house this fall at a decent interest rate! What should my next step be, would it be helpful to copy and paste that report to a post here? Or just the things that look like they could be the deregatory items. Thanks for your help!
Thanks for the reply. I haven't pulled the other two scores yet. I will do that, but thought I could get started on the Equifax one. Here is some information. Discover Financial Services INDIVIDUAL ACCOUNT 04/1993 05/2000 Revolving PAYS AS AGREED $8775 $0 12/2001 Prior Paying History 30 days past due 01 times; 60 days past due 00 times; 90 + days past due 00 times; ACCOUNT CLOSED AT CONSUMER'S REQUEST. PAID ACCOUNT/ZERO BALANCE Universal Card/Cbsdna INDIVIDUAL ACCOUNT 08/1997 03/1998 Revolving PAYS AS AGREED $6000 $0 08/2000 Prior Paying History 30 days past due 01 times; 60 days past due 00 times; 90 + days past due 00 times; CLOSED ACCOUNT AMOUNT IN H/C COLUMN IS CREDIT LIMIT US Bank INDIVIDUAL ACCOUNT 04/2000 02/2002 Revolving PAYS 31-60 DAYS $10500 1180 $12272 $464 06/2002 Prior Paying History AMOUNT IN H/C COLUMN IS CREDIT LIMIT (I belive this one is also listed as past due. I think this one is killing me because we are over our credit limit by $2,000. I'm working with a Manager of this CC company to see how that could have ever happpened. I belive they lowered my credit limit while I was nearly maxed out). From what I can tell those are all my negatives. I do have a a few cards that are listed as being PAID ACCOUNT/ZERO BALANCE, are those hurting my score? I don't ever use or need these store cards. Should I have them closed? Thanks for your help. I'm learning every day!
I would dispute the first two as " paid never late" with the cra's. you probably have a good chance to update them to positive accounts since they both show only 1 30 day late. that would be my first step. for the us bank account, i would ask them to send me a printout of all account activity for the last year, to see what they hell happened. do you have copies of all you statements?. were you notified of the cl decrease?
Actually, Diva...touchdown may be better served by trying the goodwill letter first. I feel as though if he (I think) tries to go through the CRA first, it may hurt his chances of a goodwill letter later because they (the OCs) may suspect he is just trying credit repair and possibly verify. Just my thoughts....
Thanks so much for the replies. I think what I'm going to do is the goodwill letter first as suggested, then if that doesn't work, dispute them. I still have a question about 3 or 4 merchant/retail charge accounts that are listed on my credit reports. There is no balance and I haven't used these cards in 2 or 3 years. Should I contact the stores to have those cards closed and taken off? Thanks
I'm a big fan of the goodwill adjustment. But it is also OK to dispute at the same time, it has no effect on their decision, IMHO.
I have another question about my credit report. My late pays, one from an account closed in 1998 and one from an account closed in 2000, even though they are 2 and 4 years old, are they still hurting my score?
Yes. Maybe not as much as they would if they were in the last 6 months, but ANY negative on your report will hurt. How many positive accounts do you have? That score seems harsh if that is all that is bad on your report. No collections?
