Hi everyone: I haven't posted here for awhile, but I have a question. I have spent the past eleven months re-building my credit with a FCNB secured card, target card, and Dell computer loan (I have two paid chargeoffs and an old, occasionally delinquent student loan). My fico went from around 470 to 650. I was recently sent a shell pre-approved gas card and got a credit limit of $450.00. Here's the problem: I'm back in school and I have new loans which all showed up as separate entities (6 altogether) in early September. At the same time I was sent a pre-approved FNANB card, but was turned down because of "too many new accounts." These loans are actually from Dec 2001 and June 2002, but they only showed up on my CRAs in September. I now have three more pre-approved offers from Capital One and Bank of America. I'm not sure how to handle this. Is it in my own best interest to dispute some of these loans (that seems silly since they're accounts in good standing) or should I just dispute the old chargeoffs and some inquiries. I've really worked hard over the last 11 months to re-build my credit through paying my bills on time (no matter what!) and I feel it's beginning to pay off, so I don't want to miss out on these opportunities. Does anyone have any advice for me?
The loans should not hurt you-- they are currently under deferred because you are in school, correct? If so, they should not hurt your chances to get more revolving credit. I would not dispute these-- they are essentially unrated right now. More likely that the other cards you have opened recently will prevent you from getting more credit cause they are so new. I would just hold-off on applications until you get these at least 6 months old.
Great answer lb. Do you have a real answer to the question or are you just back into your old habits again.
