Help Building Credit?

[FemaleNeed Credit]

Hi,

Living in the state of MASSACHUSETTS and I'm trying to establish credit in order to get car and maybe purchase a house in the future.

Credit Scores information provided by True Credit

TransUnion: 745

Experian: 645

Equifax: 628

Accounts Open :1

Accounts Closed: 2

Derogatory Account

Being Disputed by me but still on credit report 3,711.

The only account I have open now is a Macy's account at that is a credit limit of 100.00.

What credit card companies that use TU only. I need to re-establish credit.

HELP!

Thanks!

[Dre]

Check out the sticky above: "Who Pulls Credit" (as you already posted on it as well). That will give you a little insight, and a website: whogavemecredit.com.

Why do you only want TU? It's your highest score at the moment. Remember: If you are applying for a house soon, you might not want to apply for credit cards for 6 months. Work on managing your debt and cleaning up your CR as much as possible.

[scorch]

Also keep in mind that when applying for pre approval for a house, loan officers go by your middle fico score. The only place you can get them at the moment is at http://www.myfico.com/12/Home.asp

I say get a new credit card, but not necessarily a replacement. You may qualify for the hooters card. They pull TU.

[cap1kid]

What kind of derogatory is that? if it is old you might want to leave it alone. Sometiems bad thins can happen for disputeing old bad accounts. You may loose age if it falls off. Or it may update tricking the CRAs into believing it is recent.

The only sure things are utilzation, age and on time payments.

[FemaleNeed Credit]

Just went for a Hooter card and was decline and I went for a Chase a few days ago they will send me a reply via mail. I can tell you that I was deny for that as well.

It seems that I can't get credit no matter what I do.

I don't think Credit Card companies like me.

[scorch]

I am surprised you were denied for a hooters card. You may have to go sub prime (Orchard or First Premier) or get a secured card. What kind of baddy do you have?

[cap1kid]

Stay away from Subprime cards- they are junk- here is my advice from a different thread:

I like the idea of a credit union- but here is how I would approach it.

1) Set up a special savings account at the credit union-(not a checking account you pay bills with)consider this your credit repair account

2) Place $1000 in that account with the intention of not touching it for a year. If you don't have 1000- place $50 a pay into the account - or whatever you can afford- and wait until you have $1000.

3) Keep working on getting those other cards Util down to around 10% or lower- this will increase your scores.

4) Apply for a credit card at your credit union- If your approved for over 1000 Great-

5)If denied - immediately ask about secured- You may broach this subject with a lending officer prior to applying for the initial card- This is your backup plan and hopefully will result in only 1 inquiry- I've found that Cu's tend to pull from EQ

I believe that $1000 seems to be a benchmark- and now you can stay away from the 300 junk cards- They have their place- but should be carefully weeded out, if they carry annual fee

[scorch]

cap1, the OP only has one credit card with a $100 CL. Even though I have never had a sub-prime card and have never had any experiences with them myself, I suppose you could be right about staying from them. I still think she needs a new credit card though.

FemaleNeed Credit, if you are looking to build your credit rating, you may also want to consider getting a secured card or private label credit card such as Jared or crown jewelers before being able to get a regular unsecured credit card that is not widely known as sub-prime. I personally would focus on getting a secured card which can be graduated to unsecured. That is how I started and it was a good move. Like cap1 said, you may want to save up some money in order to re establish your credit.

By the way, getting that collection account or charge off (or whatever it is ) removed is just as important.

[cap1kid]

I believe those subprime cards get more people in trouble and create long term problems. If you are patient, you can get a nice $1000+ card with no fees and star building a nice savings account at the same time. If she goes on an app spree with the likes of First Premie, Crap1 Orchard - she's likely going to get a crappy 300 card with fees. If she follows my advice she's better off in the long term Plus she saves those inquiries.

junk begets junk-

[mt2va]

I believe those subprime cards get more people in trouble and create long term problems. If you are patient, you can get a nice $1000+ card with no fees and star building a nice savings account at the same time. If she goes on an app spree with the likes of First Premie, Crap1 Orchard - she's likely going to get a crappy 300 card with fees. If she follows my advice she's better off in the long term Plus she saves those inquiries.

junk begets junk-

I have to agree with this. I was actually going to suck it up & go the sub-prime route to get something going but just couldn't stomach the fees. If I can shell out $250 in fees why not save that towards a secured card deposit where eventually I will get my money back at some point. In fact some of my problems currently on my CR are from sub-prime cards. Not just the fees but they add more fees on top of fees on top of fees.

I'm at the stage that I can't get any CC anywhere. I can't apply to Cap 1, Merrick, Orchard, Household, First Premier, Applied Bank, etc etc because of including them in BK years ago or burning them on a sub-prime card in the last 10 years so I guess I'm blacklisted with them. Probably for the best since I should stay away from them.

I'm taking Cap1Kid's advice & will be putting my money in a CU account & watching it grow. Then after a few months see if they have a secured CC available. If not, I can always take the money out & get my secured card elsewhere. In the meantime I'm building a relationship with them & hope to re-fi my car with them too. The only thing about the secured CC is that even those are not guaranteed which really surprised me since you are securing the debt with your own money.

[cap1kid]

MT2VA- I think it will work for you...I was stuck in subprime hell, which turned into chargeoff hell. I then went almost 3 years with no credit cards and paid cash for evrything. About a 1 1/2 years ago I got a wake up call when I was contacted by an attorney wanting to file a lawsuit on one of those subprime chargeoffs- that had gone from 800 to over 2000 because of late fees and overlimit fees etc. I found this site and changed my life. I thought of the credit union solution after talking to some people at my CU about credit repair. I think the 1g is a good benchmark. Treat it like a 300 card (that way utilization is never over 30%)

[stop foreclosure]

I have always like the credit unions. I have heard about prepaid credit cards that report each month the bureaus, has anyone else heard of them? I am not sure if it the same as the "subprime" cards that people have been talking about in this post. I will do some more research and try to back track where I saw the prepaid cards that report.

[scorch]

I have always like the credit unions. I have heard about prepaid credit cards that report each month the bureaus, has anyone else heard of them? I am not sure if it the same as the "subprime" cards that people have been talking about in this post. I will do some more research and try to back track where I saw the prepaid cards that report.

Yes, they are called secured cards.

[Dre]

I have to agree with this. I was actually going to suck it up & go the sub-prime route to get something going but just couldn't stomach the fees. If I can shell out $250 in fees why not save that towards a secured card deposit where eventually I will get my money back at some point. In fact some of my problems currently on my CR are from sub-prime cards. Not just the fees but they add more fees on top of fees on top of fees.

I'm at the stage that I can't get any CC anywhere. I can't apply to Cap 1, Merrick, Orchard, Household, First Premier, Applied Bank, etc etc because of including them in BK years ago or burning them on a sub-prime card in the last 10 years so I guess I'm blacklisted with them. Probably for the best since I should stay away from them.

I'm taking Cap1Kid's advice & will be putting my money in a CU account & watching it grow. Then after a few months see if they have a secured CC available. If not, I can always take the money out & get my secured card elsewhere. In the meantime I'm building a relationship with them & hope to re-fi my car with them too. The only thing about the secured CC is that even those are not guaranteed which really surprised me since you are securing the debt with your own money.

I wish the best for you and it does sound like a great idea as well!

[FemaleNeed Credit]

OMG folks, I forgot that I had a fraud alert on my credit reports which made creditors not approve me. I had a old telephone number listed and now I have to change it.

I went for a Discover card and talk to CSR who asks me for more information. She remind me that I had a fraud alert on my report.

Now I have to find out how to change the number on my Fraud report it was easy to put the fraud alert on my Credit Report but it is hard to change the information that is put on there.

I hope I get the Discover card. The CSR said they have to verify some more information and I shall receive information via mail. If all is correct that they use TU...then I should be all good since my score is in the 700+ range.

Thats why I didn't get approve for Hooters.

I will keep you update folks.

So happy that I ran into this forum...it is so helpful!

[Dre]

Glad you found that out. Yea, a fraud alert usually keeps the cards/loans for getting approved . And your scores, you really don't need to touch the Hooter's card; unless you enjoy those rewards.

You should stick to the prime cards with those scores.

[mfalexander1964]

++Hello to everybody who's working on repairing their credit!! I recently had a conversation with my sister, who informs me that she's trying to establish her credit, as she has been divorced for some time now, and has recently remarried. While she was married to the first, her husband had went and got a Discover and a Lowes credit card, and they were joint owners of these accounts. Now that she's remarried, and trying to establish credit of her own, she has been informed that there is a Discover account open, as well as the Lowes, which her exhusband has exceeded the limit of credit, making it impossible for her to get a credit card in her name. She has requested to have her name removed from the accounts, but they are telling her that she can't. What are her options???? I'm hoping someone here can give some good advice on how to next approach this delicate situation. The Discover is being paid as agreed incidentally.

[FemaleNeed Credit]

Well Today I got e-mail confirmation Discover Card has approve me. I will lay off applying for anything else for now. I still need a Visa or Master Card.

Just amazed that I got approved when it took me years disputing information on my CR. Wonder why Hooters didn't approve me...thats a bit weird.

Will update you all...

Discover Pulled my TU credit report.

[FemaleNeed Credit]

Hey Guys,

I have a question?

I got my Discover card a few days ago for credit limit of $500.00. They also send me an invitation for Discover More Card. My question is this should I apply for this card?.....I have apply for Target and Jupiter still waiting on a reply from them.

What I really need is a Visa or MasterCard...I have tried Citi Decline,Capital One Decline but that was about 9 months ago. This is the first time my credit rating has been up in order to obtain credit. I just want credit to build credit and have for emergency.

Any suggestions would be welcome...Thanks!

[scorch]

Even if you have been pre approved for a credit card, for some reason there is a small chance that you can be denied if you apply. Although if you apply and get approved, it may be better for your credit rating to responsibly have multiple credit lines.

[FemaleNeed Credit]

Got my Target Card Decision and they said they are unable to verify my address and telephone number.

Should I give them a call?

What is Lexis Nexis Risk & Information? Never heard of them before

[scorch]

Got my Target Card Decision and they said they are unable to verify my address and telephone number.

Should I give them a call?

What is Lexis Nexis Risk & Information? Never heard of them before

Lexis Nexis reports public record information on people. They are not a CRA.

[Bigwoodystyl]

Lexis Nexis reports public record information on people. They are not a CRA.

Lexis Nexis is most definitely is a CRA and as such are governed by the laws of the FCRA.

The company also compiles a good bit more than "public record information"...

You can order a report for $8.00 or $9.00, I think..

[scorch]

Lexis Nexis is most definitely is a CRA and as such are governed by the laws of the FCRA.

The company also compiles a good bit more than "public record information"...

You can order a report for $8.00 or $9.00, I think..

Well, I talked to one of their representatives who told me that they do not report credit information.

http://en.wikipedia.org/wiki/Lexis_Nexis

[Bigwoodystyl]

They're most definitely a CRA. Perhaps, I misspoke when I said they report more than "public record" information. Most of the information they report are public records. However, this is much more in depth than what the layperson considers "public records"

They're regulated by the FCRA and you can get a full file disclosure directly from the company.