Have 550 credit score, need 620 for a home equitly loan

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Hi Everyone

I have a 550 score currently
I just opened a Capital One unsecured with 300 limit
Ive had a secured card for 200 with first progress open for a year
I have 7 derogatories  (3 of them are chase credit cards totaling 20k), None of them have been paid and they are all about 5 years old

What else can I do to boost my credit score? Thank you in advance!!!

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The best thing you can do to boost your credit score is to wait until the derogatory remarks are off in a couple of years, and make sure you pay your bills on time between now and then. 

Any accounts you have open, keep open.  Length of your credit history matters.  

When your credit score gradually improves, ask for higher limits on your cards, so your usage won’t be too high.  When your credit is much better, apply for higher limit cards. 

Make only a few payments on each card every month and pay the amount in full.  

I was able to slowly get my credit score from the mid 400s to the mid-high 700s over time.  

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You can ask to be added to someone's credit accounts as an "authorized user". The pros are the credit boost is instantaneous. Their account age becomes your account age (a 10-year old account looks like you've also had the account for 10 years). The pitfalls are that whatever balances are reporting also become your balances. E.g. if it's a 10k account, and they carry a 9k balance every month, that account would actually do more harm than good. You also want to make sure the account belongs to someone you trust, since it's possible for that person to wreak havoc on your credit, even if only temporarily.

Just FYI, there are online services that sell authorized user accounts. I've seen uses here report good results from these services, but again, there is risk involved. The other caveat is that the CRAs don't always report authorized user accounts if your last name and/or home address do not match that of the primary account holder. I have some personal experience with AU accounts, but only with family, so i can't tell you which ones will and won't work beyond that. 

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I had some nagging late payments, medical bills, student loan and a bankruptcy filed 2017. I had credit scores of 554 TU and 548 EQ in March 2019. I applied for a surgery loan in July but was not approved because of my poor credit profile. I contacted my loan officer, he explained that I needed a score of mid 700s and the bankruptcy removed from my report before I can be qualified for the loan. I had to seek for a way to raise my score and bring my credit profile up to speed because I had to do the surgery at that time. I made some research and I got a lot of good review and strong recommendations on xxxxx an ethical hacker who has helped a lot of people in the States so I decided to email him ( xxxxxx ). I did and he explained the process to me in very simple terms. We got started with the process on a substantial agreement. After  6 days, he removed the bankruptcy, deleted other negative info, eventually raised my score to 788 and verified the changes with the 3 credit bureaus. I got the loan, went through with my surgery and I have Derrick Repair to thank. If you need a similar help with your credit, Chex system and DUI report, you can contact him via his number or email above.

Edited by Harry Seaward
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