I am working on rebuilding my credit right now. I was doing so good, had good credit, a great job, and then I was out of work for 2.5 years due to a back injury (which required 2 surgeries, the second was a fusion). I am getting back on my feet now, back to work (although not making as much as I was), and am wanting to build my credit again. I am looking at doing the 3 banks trick by ol' Bill. My first concern is the length of the credit line. It will only show 3 months long on the CR, right? That won't be enough to bring up my credit score, will it? 3 months of on time payments? Second problem I have is with Macy's. I have a $100 credit line with Macy's, which reports perfect on all 3 reports. However, it does not report the high credit limit, which is affecting me a lot. I was denied a Cap1 card due to over utilization. It shows that I am over the limit by $37, because the limit is $0. I called Macy's and they said that it isn't a credit limit, but a credit guideline, so there is no "limit". Is there any way to get that reported, or do I have to write to Cap1 explaining the circumstances and maybe they will reverse the decision. I've been coming here for a while (2001), and don't have my old login information, so I made a new account. I've learned a lot, and got on the right path of credit management and things, but Murphys Law sucks. Thanks !
Put 1000 in a savings acct. at one bank, then take out a secured loan against it. Then use that money to make a deposit at another bank and so on. 3 banks, 3 loans. Pay on it weekly instead of monthly, in 3 months, they are all paid off and reporting perfect to the CRA's. That's the basic information that I got, anyway.
