After years of assuming my credit file was a war zone and taking for granted credit was out of my life, I began reading this board, and finally got up the courage to get my reports. Lo and behold, my nemisis, a long overdue student loan I've been paying for the past 6 years on time isn't on any of my reports. What I do have is a Providian Charge-Off from 1997 on all three, another collection from 1994 which is just about to fall off. I have a judgement on one (experian) which wasn't debt-related, but was a dispute over severence with an employer (they won). And that, is just about it. A few inquiries, none initiated by me. I have no positives at all, I've avoided credit on most levels. I do have a digital phone account (not reporting), and I do have a Direct Merchant's Bank card which hasn't reported me to any of the CRA's even though I have had them for 8 months and have paid perfectly, and kept low balances. The question is, how bad off am I? I need to buy a newer car. I'd like another card with a larger balance for work travel. What should be my strategy? Thanks in advance, this board is incredible! The posts here have made me feel like I am not alone.
RE: How bad off am I? (slightl The DMB card will report sooner or later they wheren't reporting for the first year i had them . latly they started reporting after they changed their policy. as far as i know they've reported to equifax and experian. nothing on transunion (yet ) .
RE: How bad off am I? (slightl Cap 1 rejected me in August. I need the 94 stuff to fall off before I'll get anything new.
RE: How bad off am I? (slightl I assume so, at least that's what I was applying for. I have gotten the usual pre-approved letters from subprimes for secured cards (IE Orchard, Associates, Crooks Country, FCNB). It seemed from what I saw here that Cap1 was above the rest a little. DMB took me on the $500 for $99 deposit deal. I wish I could swing a deal with Providian to get that off my record. And my stuff from 94 is set to fall off in January. I will try a few things when that happens I guess.
RE: How bad off am I? (slightl Why dont you dispute the items this month. Usually, the credit bureau will go ahead and delete an item that is within 6 months of coming off. It is worth a try. It is hard to believe that you couldnot get a secured card with anyone which reports regularly to the credit bureaus. Capital one gave me a secured card when my credit was very crappy. It was just$200 but it was a start. With a secured card under your belt, 6 months of good payments, the dmb account reporting and then the removal of the 94 defaults you will look pretty good in a few months.
