I have Providian visa Gold and Providian M.C.,Ialsoo have Sterling M.C and Visa. I recieved preapproved for Amoco and Walmart. Would these be worthwhile to add? And do they report to the CRAs? Thanks
RE: Rebuilding credit,what kin Could you please tell us what kind of credit problems you are rebuilding from. Bankruptcy?, collections(paid/unpaid), judgements and how long ago and all counts. That would help me answer your question. roni
RE: Rebuilding credit,what kin I have student loan 120 late which have been paid but listed as charge off 120 days late. Also, I have a 1995 fedreal tax lien which I am making payments on and which I would like to figure out how to remove.Thanks Roni, You always seem to come up with excellent advice.
RE: Rebuilding credit,what kin Well the student loans are gonna hurt you. The lax lien I heard is a killer. I would have to say you must play it safe. Capital one and Orchard Bank is your best bet. I think a unpaid lax lien may limit your chances with Citibank. But you may have a shot. Honestly, it is worth the inquiry. The lax lien is gonna stay probably but you could dispute it. That is something that I am scared of and do not know anything about. YOu are lucky to have providian. And you have 2 cards. That is not bad. I think the preapprovals say that your credit is not so bad. I certainly dont get any preapprovals. Also, is the tax lien on all 3 reports? roni
RE: Rebuilding credit,what kin Roni, the tax lien is not on my Equifax report, but on the others.I disputed the student loan online with Equifax, and will check on that in a few days.That would totally clear my credit there.I just wondered what would help me more, visa mc cards or a Walmart or amoco card to improve my credit line. The student loan is on all my reports. They ressurected this one from 1983 and started reporting it in 1999.Great,huh.
RE: Rebuilding credit,what kin That is awful about the student loans. You might be better rehabilitating the loan if it is a large amount. That is if you have not already repaid it. I dont think retail cards are as important as some have made out. I think you should get cards according to your own needs. Limit your cards to 5 lines. This is especially true for someone with a short credit history or a blemished credit history. Too many accounts, especially new ones hurts scores more for people with blemished credit or new credit. Do you need a gas card. Do you normally use amoco. If so, get it. If you are a Walmart addict, get it. But I think most retail cards have high aprs. and should be avoided. But that is just what I think. You want a card which will give you the highest credit limit to enhance your ratios. This is for score boosting purposes only. You already made a great choice with Providian. Dont go applying for prime cards with the student loans defaults. I have SL defaults and I get no where with them. Amoco turned me down also. Or was it EXxon, Anyway it is really up to you. I would go for the easiest to get and most needed. Also remember, preapprovals dont mean much these days. So be careful with the inquiries. Good Luck. roni.
