Rebuilding Credit

Discussion in 'Credit Talk' started by Kevin Yaeg, Nov 15, 2000.

  1. Kevin Yaeg

    Kevin Yaeg Guest

    You never know what you have till you lost it. My credit was horrible for the last couple years but over the last 6 months I have been working on rebuilding my credit, paying off old debt and opening new accounts to re-establish myself. I only have about 5 derogatory items on my credit now but I have opened over 10 new accounts with banks who do not care about my past credit. I also did a share secured loan with my credit union. They did not run my credit because it was secured by my savings account. I took out a loan for $10K with them so I would have a high credit shoing good payments.

    The following banks gave me a major credit card:

    Capital One 200

    Direct Merchants Bank 200

    First National Bank of Brookings 200

    First National Credit Card 200

    First Premier 200

    Net 1st Mastercard 500

    Providian 300

    Security Bank 200

    Sterling Bank & Trust 300

    Most of them are secured except for Providian but all of them didnt care that I had unpaid charge off's on my credit. The reason I went for so many bank cards is because you need to outway the number of derogatory accounts. I think I have 6 derogatory accounts which are slowly getting paid in full.

    This time next year my credit will be very good. I am working on getting a new car loan right now which with that will look very good in a year as well. Most banks wont look at prior derogtory as long as its paid in full after twenty four months as long as you have reestablished yourself with other good credit.

    Also all my secured cards in a few months will be at the high limit of either $5000 or $10,000. The only one I can't deposit more into is Capital One.

    I'm happy with where my credit is going.

  2. Jessica

    Jessica Guest

    My credit is horrible what should I do?
  3. Momof3

    Momof3 Well-Known Member


    If you could give more details on your current situation, collections judgements any tradeline etc., someone may be able to help you here:)

    P.S. Please don't listen to David AKA Lucy, he is spreading pure garbage!

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