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Dre

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Everything posted by Dre

  1. The technique sounds quite interesting, but seems it would have to def. be managed by a responsible individual. Do you have experience from this type of credit building?
  2. This process seems a little confusing, and I wouldn't do it. If so, I would stick with one bank and one loan only. It's good to have mix credit, but opening too many lines of credit can also hurt your score. 1. Get a secured loan - if you choose to. 2. Get a store or gasoline credit card 3. If your scores are 650+ try for a prime credit. I would stop after that and even at #3 if I got declined. Hope this helps out some!
  3. Dre

    Piggybacking

    It won't effect your credit score anymore...
  4. I agree with all the above. If it were me, I def. would not drop $5K on a car. I found a car that I really wanted and bought an older model. I might be making a monthly payment, but it was cheaper and a car that I wanted...plus I ran my '92 Camry into the ground - 350K+ miles on it before getting my new/used car. 1. Find a car you really like or want and will not regret paying a monthly payment after about a month (if you have to make payments). 2. Use the $5K for something else or keep saving 3. There's nothing wrong with used, pre-owned, or certified cars; just shop around and be smart. Good luck!
  5. I agree with all the above. If it were me, I def. would not drop $5K on a car. I found a car that I really wanted and bought an older model. I might be making a monthly payment, but it was cheaper and a car that I wanted...plus I ran my '92 Camry into the ground - 350K+ miles on it before getting my new car. 1. Find a car you really like or want and will not regret paying a monthly payment after about a month (if you have to make payments). 2. Use the $5K for something else or keep saving 3. There's nothing wrong with used, pre-owned, or certified cars; just shop around and be smart. Good luck!
  6. I had this card and it helped improve my credit score greatly! I do not think it was listed as "secured" or "unsecured"; regardless, it was a great CC to help improve my credit score.
  7. Did you write a letter? Oh no...not a debt management company?!?!?! Get out of it ASAP if you can and save your money. There is so much information on these boards that will save you so much money and time!! I hope everything works out for you!
  8. ...and they probably don't even do it correctly; just take yo' money!!!
  9. I do not believe so. That would be awesome, but they only report when the bad things happen to us :\; only lines of credit will report positive and negative.
  10. I might have to do the same to CareCredit after I pay this balance off. They are very generous at giving CL's. Congrats!
  11. Dre

    Piggybacking

    You can become one.
  12. Well at least you are making good choices with your credit card closings. Just make sure you do it over time and not back to back. Pay off the loan and in due time, those scores will go up!
  13. BAM! HBSC closed my credit card which is fine with me. Reason: inactivity I only want to stick with two credit cards: Chase Southwest Airlines and my Carecredit. Let's see which one will be closed next...
  14. Oh yes, close these CC's that charge you a yearly fee, but I have credit cards open at the moment with a 0 balance and I just got pre-approved for a house loan. I only use one credit card and PIF at the end of each month, and I have seen an increase in my credit score. As for what credit score to aim for, it depends if you are trying to get any credit any time soon. I would shoot for 680+. Sounds like you and your hubby are on the right path so keep it up!
  15. Awesome rate on your loan! It wouldn't hurt ask them if they could make a deal with you if you decide to pay them off in full; see what they say! Post their response - I would like to hear what the response was.
  16. You have a great plan! Here is my advice and what I would do after you have your CC's paid off: 1. Cut up all of them except one (keep the one that'll benefit you the most - rewards programs, cash back, etc.) 2. Leave the accounts open 3. Start saving more - retirement, trip, emergency account (I would do this first and save for retirement) 4. Add additional money towards student loans 5. Enjoy the fact that you are out of CC debt In short: SAVE, SAVE, SAVE! And see what big item do you want to pay off next? House, car, student loans, etc....Tackle them aggressively as you did your CC - snowball payments. Hope this helps and good luck!
  17. I don't want to give you any bad news or discouragement, but try not to get a loan to "pay off" more debt because you will still be in debt. Here's what I would do: 1. Pay OFF every credit card. 2. Cut them up. 3. Only close the ones with fees (annually). You can call your cc companies and ask about any hardship situations, but pay these suckers off and start saving some money. Hope this helps out some! GL!
  18. /drumroll followed up with a /symbol crash!
  19. "Spend less than you earn. You're doing fine, I think. There is no great secret." - Big Heck, I even know this and I'm trying so hard not to use my credit card until I purchase my house. I'm going to do it; Jan. was one of those months and getting paid only once a month at the end of the month is the worse!
  20. LOL! Big, you always have great information, and this really made me laugh. I never read anything like the above advice ever. So when I read this tonight, I said to myself, "If Big says it's a bad idea, run the other direction". Thanks for the early week laugh!
  21. True that! I started establishing my credit with a secured credit card from Bank of America.
  22. Awesome job with starting at the age of 20! That's really good, because this entire process will help you in the future with your life. You did the correct thing about pulling your credit reports first. You want to pay attention to the LAST DAY OF PAYMENT because this help you have a better idea of your SOL (statue of limitations). Check your state's statue of limitations and even their debt laws. It helps you become very familiar on your attack plan. Next, I would not apply for anymore credit cards! Those inquiries are no bueno on your credit reports and will only hurt your score. You have 1 CC so keep that one current with on timely payments (even if it's the mim payment). I wouldn't use the card for any charges; get your debt under control first. After you looked at your dates of last payment, make sure the CA's are trying not to collect any date that is passed the SOL. There are a lot of threads on this board stating where to start next. Attack one-two CA's at a time (which you have). It will be a lot of letters and your sending CMMR's, but be patient and things will work out for the best! I hope this had given you some advice where to start your attack plan! Good luck!
  23. Ditto. Chase gave me a CLD on my very first credit card I've ever had, but I no longer use it; only use one credit card now. $755 to $500.
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