Reaging Accounts

[tydaddy]

Has anyone had any luck with utilizing this method before???? I have an account with MBNA that has 9 - 30-day lates and 1 - 60 day late that is killing me. I can dipute with CRA's but need a quick fix. My husband and I are in the process of trying to buy our first home and need his scores to come up as soon as possible. I have read a little about re-aging and would like to see if we can use this route to bring our account current. Let me know if anyone has had any luck and what the process is. I am thinking I might call them when I get home to see what I can do.

Otherwise if anyone has any better suggestions - it would be greatly appreciated. It sucks because we have the 10% down sitting in the bank but can't do anything until my husband's scores come up.

Any assistance would be IMMENSELY appreciated!!! Thanks everyone!

~ Heather

[kb9tbq]

Yes, definitely give a try calling the creditor and asking if they will offer up re-aging to wipe the slate clean on the reporting.

Also what is your utilization on current existing accounts? Like credit cards you can take the balance and divide by the credit limit: Amounts over 40% is a big affect on the credit scores; so if you have room to redistribute the balance to other lower cards. When you do balance transfer only transfer what is needed to bring the balance down below 40% or 30% lower the better.

How many of what types of accounts do you hold now on both reports, if your DH has less then 3 credit cards where you have others that he is not on, might add him as an authorized user to boost his scores up that way. Again rule is to add only to accounts (that are high credit limit verses balance; and good long established credit history).

I would not suggest using anyone elses accounts for the AU though; because you don't want the loan officer to figure unrelated debt into the debt to income ratio (and they are known to do just that).

Ok, best of luck with this.