Hello I am 28 years old and i will be buying my first house in the next 8 months i hope. I have been working on my credit for the last 4 months by opening an installment loan,credit card,merchant card. All of these accounts have been paid each month and in good standing. I have some collections on my credit that i was unable to get removed. I have been looking into tradeline credit accounts but it will cost me some money to get them added. That's no big deal if it will work. If not should i just pay off all the collections first. What would be the best move for me. Again i know either way will cost money and that's no big deal but i need to do whats best for me short time to get my scores back up there. Here are my scores as of now. WHAT SHOULD I DO? PLEASE! IM LOST AND WANT TO MAKE THE RIGHT CHOICE! Trans Union Experian Equifax 547 603 514 Here is a breakdown of my report! TransUnion Experian Equifax Total Accounts 23 13 23 Open Accounts 15 3 4 Closed Accounts 8 10 19 Delinquent 1 0 0 Derogatory 16 8 15 Balances $4412.00 $2197.00 $4527.00 Payments $25.00 $111.00 $111.00 Public Records 1 1 1 Inquiries(2years) 12 4 15
Most mortgage companies will make you pay any chargeoffs that you have, so you might as well start there. You can buy tradelines, or see if a family member or friend who has a card with long history, no lates, and good utilization will add you as an authorized user. They don't even have to give you the card. They can have it sent to them and they can keep it. You only want the history.
Ok thanks! So let me make sure i get this right,i need to add some tradelines as well as pay off all of my charge off account? Where should i start? By adding tradelines or by paying the charge off accounts off? Should i put all my money into paying all my collection accounts off and working with them in getting them removed and then add the tradeline accounts or add the tradeline accounts and then work on paying the chargeoffs? Any ideas of a good place to buy these tradelines? Ive looked at creditpro but i hate 2 get ripped off by the amount of money its going to cost me.
First of all, do you have any relatives who will add you as an authorized user? As I said, they don't even have to give you the card, so you won't have access to the account. They can have the card sent to them and hold on to it. Then you can concentrate on paying your chargeoffs. Apex Credit Services (look for his posts here as apexcrsrv) sells tradelines. You can contact him for more information. Whether you choose to use him or someone else, contact the BBB and licensing agencies before you do any business with them.
