I have horrible credit- 630 when I checked yesterday. Some of you may remember why it is so bad. My mom opened credit cards in my name when I turned 18 without me knowing. It was in the 500's last time I checked, why is it going up? I have nothing open? Or is it just because I paid off those credit cards (LATE, since I didn't know they existed)? I'm so confused.

Also, where can I get a credit card? Will anyone even give me one with my crappy credit? I want to try to build my credit so I heard getting a CC and just paying it off every month is good. I would just use it for gas.

Someone please help. I don't have anyone to ask.

Eek.

Dh's credit is almost the same. His is so bad because when he got deployed in 03- he didn't bother to pay some things back. Men :rolleyes

Are you paying anything right now? Car payments? Phone bills? Cable? Electricity? It will go up by doing that.

The main reason credit scores go up is time. The longer its been since a negative item has been posted, the higher the number will climb. This is a general answer, because there may have been things you have done specifically, such as buy a car, take out a mortgage, etc, all which, if paid on time, can increase your scores. Also, after 7-10 years, depending on the item, it is supposed to disappear from your credit report, and no longer have an effect on your score.
Another reason is that each of the three credit reporting agencies use a different method to come up with a score. They each also may have or be missing specific items on your credit report.

Eek.

Dh's credit is almost the same. His is so bad because when he got deployed in 03- he didn't bother to pay some things back. Men :rolleyes

Are you paying anything right now? Car payments? Phone bills? Cable? Electricity? It will go up by doing that.

All I have is a cell phone bill and car insurance. Since my cell bill is in my name, will it increase my score?

All I have is a cell phone bill and car insurance. Since my cell bill is in my name, will it increase my score?

yes, over time, if you pay your balance every month.

yes, over time, if you pay your balance every month.

Maybe that is what has been helping it. Awesome! Thanks!

along the same lines... how do you check your credit score? I'm really curious.

lol 630 is not HORRIBLE credit ;) it's not AMAZING but it's not horrible

I have horrible credit- 630 when I checked yesterday. Some of you may remember why it is so bad. My mom opened credit cards in my name when I turned 18 without me knowing. It was in the 500's last time I checked, why is it going up? I have nothing open? Or is it just because I paid off those credit cards (LATE, since I didn't know they existed)? I'm so confused.

Also, where can I get a credit card? Will anyone even give me one with my crappy credit? I want to try to build my credit so I heard getting a CC and just paying it off every month is good. I would just use it for gas.

Someone please help. I don't have anyone to ask.

if your mom opened cards in your name w/o your knowlege, that is fraud & is not your fault. you should not have to pay that money back & you should not be allowing it to negatively affect your credit. you need to get in contact w/ all three credit bureaus & follow the procedures to dispute those cc accounts...tell them that you did not authorize the accounts to be opened.

along the same lines... how do you check your credit score? I'm really curious.

you have to pay...$9.95 w/ one of the credit bureaus, or if you apply for a loan, they'll often give it to you

you have to pay...$9.95 w/ one of the credit bureaus, or if you apply for a loan, they'll often give it to you

hmm... THANKS!

if your mom opened cards in your name w/o your knowlege, that is fraud & is not your fault. you should not have to pay that money back & you should not be allowing it to negatively affect your credit. you need to get in contact w/ all three credit bureaus & follow the procedures to dispute those cc accounts...tell them that you did not authorize the accounts to be opened.

I was thinking about that at one point but I already paid them off. I have been through a lot with my mother, and I am young and have a lot of time to build up my credit. I am willing to take the burden of this mistake. She claimed bankruptcy last year, she has nothing and isn't mentally stable. I don't want to make life harder on her.

Would it even help my credit to do this? I have like 3-4 years until it is off of my credit report all together. When removing these negative reports, I do not have any other credit at all. Would that hurt my credit more?

lol 630 is not HORRIBLE credit ;) it's not AMAZING but it's not horrible

I guess it could be worse (it was worse! LOL) . Everything can always be worse!

I was thinking about that at one point but I already paid them off. I have been through a lot with my mother, and I am young and have a lot of time to build up my credit. I am willing to take the burden of this mistake. She claimed bankruptcy last year, she has nothing and isn't mentally stable. I don't want to make life harder on her.

Would it even help my credit to do this? I have like 3-4 years until it is off of my credit report all together. When removing these negative reports, I do not have any other credit at all. Would that hurt my credit more?

negative is negative. you want it to go away. negative is worse than none. you may not have to mention that is was your mother who opened the counts in your name. you can probably just tell them it was unauthorized.

for instance, my identity was stolen. a guy took a pre approved credit app from my mailbox & got a card in my name. i have no idea what his name was, but i called the cc card co & told them i didn't authorize it & they closed it & removed it from my credit report. however, if you've been making payments to the cards...well, they prolly will be skeptical about you not authorizing it.

if you can't get it taken away & you are gonna accept it (which i would not do...i've had financial go-rounds w/ my mom too, but bad credit is something that takes A LOT to cure) i dunno what your interest rates are, but they are prolly high. go to your local bank or credit union & see if you are able to get a loan to pay off the balance of the card. if you can show the bank or cu that you are regularly making payments of x amount to the cc co, they should be able to help you out, if they can get a loan for the amount you need in your payment range. that way the bank/cu makes the money off you instead of the cc co.

i am somewhat going thru something similar because i had 2 cc cards closed when i was unemployed for 9.5 months. i have always had spotless credit. just paid one off.

if you want help or advice, just pm me.

along the same lines... how do you check your credit score? I'm really curious.

https://www.annualcreditreport.com/cra/index.jsp

froglove mentioned this site in another post.
by law, you are entitled to one free report from each agency per year.
You are also entitled to receive one for free any time you are rejected based on a credit score/report

https://www.annualcreditreport.com/cra/index.jsp

froglove mentioned this site in another post.
by law, you are entitled to one free report from each agency per year.
You are also entitled to receive one for free any time you are rejected based on a credit score/report

that just gives you the report, as in who you have accounts open with & who has checked your credit recently. it does not give you your credit score.

that just gives you the report, as in who you have accounts open with & who has checked your credit recently. it does not give you your credit score.

Thats true, my error.

negative is negative. you want it to go away. negative is worse than none. you may not have to mention that is was your mother who opened the counts in your name. you can probably just tell them it was unauthorized.

for instance, my identity was stolen. a guy took a pre approved credit app from my mailbox & got a card in my name. i have no idea what his name was, but i called the cc card co & told them i didn't authorize it & they closed it & removed it from my credit report. however, if you've been making payments to the cards...well, they prolly will be skeptical about you not authorizing it.

if you can't get it taken away & you are gonna accept it (which i would not do...i've had financial go-rounds w/ my mom too, but bad credit is something that takes A LOT to cure) i dunno what your interest rates are, but they are prolly high. go to your local bank or credit union & see if you are able to get a loan to pay off the balance of the card. if you can show the bank or cu that you are regularly making payments of x amount to the cc co, they should be able to help you out, if they can get a loan for the amount you need in your payment range. that way the bank/cu makes the money off you instead of the cc co.

i am somewhat going thru something similar because i had 2 cc cards closed when i was unemployed for 9.5 months. i have always had spotless credit. just paid one off.

if you want help or advice, just pm me.

Thanks for the info! I don't need a loan because I paid off the CC's as soon as I found out about them, unfourtunately they were already in collections by the time I found out about them. It's an awful situation. But I do have student loans that once I graduate (next winter) I can start paying off and that will hopefully increase my score.

Thanks for the info! I don't need a loan because I paid off the CC's as soon as I found out about them, unfourtunately they were already in collections by the time I found out about them. It's an awful situation. But I do have student loans that once I graduate (next winter) I can start paying off and that will hopefully increase my score.

well then, if they are closed & paid, it should come up on your report as "account closed, paid in full" & that is not bad. if you pulled your credit report (free annually) it should show that.

i'd say, to help build, get a new cc thru ur bank/cu, make small purchases & pay it off every month. that'll help you build.

If nothing else, you should be able to get a secured card (where the bank keeps a certain amount of ur money and that's the amount of your credit limit. So essentially ur borrowing ur own money, BUT it'll build ur credit back up showing u can make payments on time). Keep the balance on it low, and make regular payments. That'll help up ur score.

U can also do this with a loan. Buy a CD, then take out a loan secured by the CD (banks shouldn't have any reason to deny you since they're ensured they'll get their money if u default). Put the loan money into a savings account. Use the money from the savings account to pay back the loan over time. The interest you accumulate from the savings account should offset some of the interest ur paying on the loan. And if you only touch the money from the savings account to pay back the loan, u won't have to worry about where to come up with the money for loan payments. Also u'll only be out of pocket a little bit of interest and have built up ur credit some.

Sounds ugly :hugs

well then, if they are closed & paid, it should come up on your report as "account closed, paid in full" & that is not bad. if you pulled your credit report (free annually) it should show that.

i'd say, to help build, get a new cc thru ur bank/cu, make small purchases & pay it off every month. that'll help you build.

Thank you for everything! I see my credit report all the time because I have an alert thing that emails me! It's awesome. I like to monitor it after such an experience! Thankfully I am young, have nothing to buy on credit right now, and I have faith this will all blowover :)

I just reviewed, and my score went up 20 points in 4 months-is that good or bad?

Anytime your score goes up its good. And 630 isnt bad at all...its average
(-8

Thank you for everything! I see my credit report all the time because I have an alert thing that emails me! It's awesome. I like to monitor it after such an experience! Thankfully I am young, have nothing to buy on credit right now, and I have faith this will all blowover :)

I just reviewed, and my score went up 20 points in 4 months-is that good or bad?

credit is like a living thing...you've gotta nuture it, regardless of whether you are young & have nothing to buy on credit presently. it takes awhile to build.

example. i got my first cc the end of my freshman year of college. i started w/a $1000 credit limit. i'd make small purchases & pay it off each month. by the time i graduated, i had over a $10k credit limit & when i wanted to get a car loan, i was instantly approved to borrow my requested $15k.

like i said, the best thing for you to do is get a card with a low balance & make a few small purchases a month & pay it off. having an established credit line, with established regular payments is a big boost.

How can I get a credit report while I am overseas?

How can I get a credit report while I am overseas?

freecreditreport.com :)

lol 630 is not HORRIBLE credit ;) it's not AMAZING but it's not horrible

I agree! Defintly not horrible. You can defintly get a credit card to help rebuild your credit. I just got one with a 580-602 range.

Also something that we were reminded of last night at pre-deployment briefing is the Soldiers Relief Act where you can have your interest rates dropped significantly if your SO is going on deployment. The CO mentioned that most places will drop (this is revolving credit, not car loans, mortgages, etc) interest to 6% or even lower. USAA is typically 4%. Just something to remember to help financing charges on revolving credit cards.