Jump to content

I need Positive TL's!


Recommended Posts

I just realized (blonde moment, I suppose) that one of the reasons (aside from all my past irresponsibilty) that my credit is bad is I don't have ANY open accounts. I show a bunch of debt, but NO credit at ALL!

I just got an Orchard Secured card with a CL of $200. I plan on increasing the limit montly or bi-montly. They aren't reporting yet.

I applied for CJ but hadn't purchased anything because I didn't find anything worth buying. I decided to buy a Fossil watch for my BF so that they will start reporting as well. (And, so he can have a nice watch ;))

With scores in the low 500's I think I should probably wait until I get some of the negatives off my report before applying for more credit. Any other suggestions?

Other creditors that don't check credit? I need help re-building, but I think I may just have to wait it out. :oops:

Link to comment
Share on other sites

Purchase something and then make a payment the next day...they usually report quick, after a payment.

Take it slow, try for one account a month...thats how I did it.

get the account reporting before you move onto the next one..

not too many inquires at a time and check out

whogavemecredit.com

It will tell you what kind of scores people had when they were approved..

Good Luck

Link to comment
Share on other sites

Purchase something and then make a payment the next day...they usually report quick, after a payment.

Take it slow, try for one account a month...thats how I did it.

get the account reporting before you move onto the next one..

not too many inquires at a time and check out

whogavemecredit.com

It will tell you what kind of scores people had when they were approved..

Good Luck

Thanks for the tips. I checked out whogavemecredit.com and noticed that it would probably be in my best interest to wait. A lot of people with scores higer than mine were being denied credit.

I didn't realize making a payment so quickly would cause them to report sooner. Thanks! :p

Link to comment
Share on other sites

Get an installment loan going. Join a good credit union and take out a secured loan. Make sure they report to all 3 CRA before joining of course. There are a few threads on this board that go into it in more detail if you need more info.

I was in the exact same situation as you last month. My 5k secured loan started reporting this month though and I have FAKO's again (no FIKO's for another 5 months). Still waiting for Orchard and CJ to start reporting.

Link to comment
Share on other sites

I would try getting a New Millennium Banks Secured card and also a USA Shopping Club Card.

USA Shopping Club will give you a 12k limit but it cost about $150 to activate the card, but they give you a 100.00 credit to use towards purchases when you enroll.

They report a CL of 12k and they have about 14k products to choose from on there web site.

Link to comment
Share on other sites

Get an installment loan going. Join a good credit union and take out a secured loan. Make sure they report to all 3 CRA before joining of course. There are a few threads on this board that go into it in more detail if you need more info.

I was in the exact same situation as you last month. My 5k secured loan started reporting this month though and I have FAKO's again (no FIKO's for another 5 months). Still waiting for Orchard and CJ to start reporting.

Not sure exactly how secured loans work. I don't have any money to secure it with, but have a car title. Would that work?

Link to comment
Share on other sites

I would try getting a New Millennium Banks Secured card and also a USA Shopping Club Card.

USA Shopping Club will give you a 12k limit but it cost about $150 to activate the card, but they give you a 100.00 credit to use towards purchases when you enroll.

They report a CL of 12k and they have about 14k products to choose from on there web site.

This will not help you attain your goals,

Danger will robinson!!![/B]

Link to comment
Share on other sites

With scores in the low 500's originally, here's what I did:

First off, I applied for a TL with Crown Jewelers. I bought a $30 silver ring, made a payment the following day. Within 5 days they were reporting a $1,500 CL to TU and 5 days later were reporting the same CL to EX.

I then waited about one month, had some IQ's removed and some account deletions. I then applied for a card with Credit One Bank. They have a $69 annual fee and a monthly fee of $5.95, but it sure beat the ridiculous amount of fees that cards like First Premier charges upfront. I was approved with a $200 CL. They had already begun reporting the TL to all three credit bureaus before I had even received my card.

After that was reporting, I went to HSBC's website and applied for the HSBC Mastercard. Keep in mind that I did not apply for an Orchard Bank card, I went directly to HSBC - the parent company of Orchard. I was approved for a $300 TL. I received my card and they have yet to begin reporting.

So as of now, I have $2,000 in credit on my reports. The three TL's have jumped my score a pretty significant amount in the past month or so and after a few months of positive reporting, I know it will only go up from there.

As far as the USA Shopping Club that was mentioned above, IMHO, you should stay away from that. Although it sounds great in theory, the company has had way too many complaints against them (you can find them if you search on the internet). Keep your secured card and wait.

:)

Good luck!

Link to comment
Share on other sites

Guest
This topic is now closed to further replies.
 Share

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.