Equifax is my worst report. I have 3 negative items. The most recent one is from 6/98. My score is 641. Qspace score from about a month ago was 700. Reasons for low score are: recent negatives (most recent one is 6/98), limit/balance ratios too high (highest balance is $500 on a card with $2500 limit, I DON'T GET THAT), too short of account history (I have good accounts from 1993 (s. loans) but oldest credit card is from 12/98). Only 22% of Americans have worse credit then I do. I have nine positives on my Equifax report. AM I GOING TO GET DENIED AN APARTMENT BECAUSE OF THIS LOW SCORE????? I WANT TO MOVE IN JUNE. WHAT CAN I DO TO INCREASE MY SCORE IN THAT SHORT OF TIME. I HAVE AN INVESTIGATION GOING RIGHT NOW FOR ONE NEGATIVE. ANY ADVISE, PLEASE!!!!!
Re: Equifax score....HELP PLEA Molly, A score of 640 will not keep you from getting an apartment. Your score is not bad. However, apartment communities have a limit to the # of negative items they allow without charging an additional deposit amount. They want your report to be 80% clean or more. The apartments I moved into gave me a list of their credit guidelines. Maybe you can ask that upfront. This was a luxury apartment community and they were strict. Instead of the usual $100 deposit, I had to pay one months rent for a deposit. I would be prepared for anything. But I am almost sure you will get it but maybe have to pay a little more for deposit. My score was in the low 600's
Re: Equifax score....HELP PLEA When I moved in 5/98 they wouldn't give my apartment unless I had a consigner. My reports have improved. In July of 2000 I had a combined total of 23 negative items on my reports. I now have six. I am scared to death that they will deny me. I am going to be moving in with someone else. I feel sick now because I will have to explain this to them. On the brighter side, I only need to raise my score by nine points to be in the next bracket score bracket 650-699 My negatives are from: 6/98 I5 4/95 I5 9/94 I9 Should I concentrate on getting only the oldest removed? I don't think my score will improve that much if I get the oldest one removed, it is a I9 though. It will fall off in Sept. I am disputing the oldest one right now. What should I do to improve?
Re: Equifax score....HELP PLEA Molly, With 23 negatives you can surely expect to be denied w/o a cosigner. Remember the 80% I posted above. With 6 items I am sure you will be ok. NOt perfect, but you will get the apartment. I am sure with 23 negatives your scores was WAY lower. Dont worry. Just have more deposit money at hand.
Re: Equifax score....HELP PLEA You might be able to pay 3 months rent up front...if you have the $$$$
Re: not Molly, but Equifax notations: R= revolving account (credit cards) I- Installment account (loans) O-open account (whole balance due each month) R1 or I1= pays as agreed never late R2 or I2= 30 days late R3 or I3= 60 days late R4 or I4= 90 days late R5 or I5= 120 days late (ouch) R9 or I9= charge off R7 or I7= making regulare payments under wage earner plan R8 or I8= repossession
Re: wait a sec. I have like 4-5 negs, about 4.5 years old> My score is 565. I got in an apartment with One months rent as deposit. My rent is $950/month. Should be no problem With a little cash.
Re: wait a sec. Molly, if your future roommate has good credit you'll have nothing to worry about. My credit was awful when I moved in (luxury apt., very exclusive and picky!), but my roommate had good credit. I turned in my application and never mentioned my concerns and we got approved. I would just not say anything and if there is a problem they will let you know. They won't just decline you, they'll work out something.
Re: wait a sec. If they have 20 open apts and nobody to fill them...they will be more apt to work with you. If they have a waiting list 20 people long for 1 apt...probably no chance.