Re: Can somebody please tell me...

Posted by Linda on September 02, 2001 at 18:58:31:

In Reply to: Re: Can somebody please tell me... posted by Mari on September 01, 2001 at 21:53:33:

Mari, if your credit report shows these as bills that were not paid for some time, or perhaps had been turned over to collection agencies, and you only paid them recently, that could be the problem. Where are they listed on your reports? There is a section for "possible negative information" - if they are listed in that section, and they were paid in the last 2 years, they are the reason. That is not "no credit" it is "bad credit."

If they are not listed as delinquencies, or charge offs, or collections, or if they are older than 2 yrs, then you should try just using the card you have regularly and paying it on time for a while longer, then possibly getting that same company to unsecure the card, and increase your credit line. They might even upgrade you to a better card. Don't keep applying where you will probably get turned down, because that just makes it worse. Another tactic is to open a savings account at a bank, then when you have about $1,000 in the savings account, ask the bank to loan you $1,000, using your savings account as security for the loan. Then pay it off in regular, even payments. Make sure that the bank is willing to report the loan to all 3 credit bureaus for you. Or even better, do it with a credit union instead of a bank. They will understand what you are trying to do, and most will do it for you. Then you will have another good credit reference, without actually applying for credit.

Linda

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