24 Looking to build Credit... What are some good tips on your first Credit Card

It's weird though. I really need to look deep.. I could of swore the account was closed in 2007, so that  makes the debt invalid at this point, but now they have it for 2012. They seem to be pushing the close debt point back year after year, which would be illegal. 

I'm going to ruffle through old letters and find out when the account was truly closed, but im about 90 percent sure its passed 7 years.. But im not 100 percent sure so yeah. 
 
^Creditkarma.com will give you the month/year that inquiries will be off your record
 
Melo0115 said:
It's weird though. I really need to look deep.. I could of swore the account was closed in 2007, so that  makes the debt invalid at this point, but now they have it for 2012. They seem to be pushing the close debt point back year after year, which would be illegal. 

I'm going to ruffle through old letters and find out when the account was truly closed, but im about 90 percent sure its passed 7 years.. But im not 100 percent sure so yeah. 
Click to expand...

Ficoforums.myfico.com, those people there are the most well versed in dealing with anything involving credit, rebuilding credit, starting credit, bankruptcy,etc.

Great&helpful community.
 
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I finally got my credit score early last summer. It was 690, thanks to that dumb thing I have in collections. I have car payments now, though, and I've been paying my credit card off every month for years, so I have a very good track record there. Things could be worse, I guess.
 
How much should a score jump after paying off a car? Never late, always on time and in full payment. A friend says his score still shows low as if the car loan didnt boost it.
 
FreshPairs said:
How much should a score jump after paying off a car? Never late, always on time and in full payment. A friend says his score still shows low as if the car loan didnt boost it.
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This sounds wrong and it might be, but from my understanding, I don't think you get any boost in your score when you pay off your car loan entirely, it actually might even drop a little.

http://ficoforums.myfico.com/t5/Und...s-dropped-after-auto-loan-payout/td-p/4333928

http://ficoforums.myfico.com/t5/Und...Points-After-Paying-Off-Car-Loan/td-p/3917049

http://ficoforums.myfico.com/t5/Und...pped-after-paying-off-2-vehicles/td-p/3686693

http://ficoforums.myfico.com/t5/Und...t-Score-dropped-70-points/td-p/2235271/page/2
 
FreshPairs said:
How much should a score jump after paying off a car? Never late, always on time and in full payment. A friend says his score still shows low as if the car loan didnt boost it.
Click to expand...

I used to think itll bump it up but like the post above said it probably wont. Its an excellent tool in securing big time loans or when your buying a house because it'll show your dependable.
 
Ayyy some excellent scores getting posted recently

Good work men

Jus picked up the simplicity card for a balance transer. Talked em into waving one bt fee not the other though. So for under 100 bucks all my debts rolled to the new card at 0% for 21 months. Only problem is the new card is about maxed because the entry limit was only 5k so i guess i gotta throw a cpl stack at it after the holidays to get my utilization right
 
what about these banks' credit ratings though, when they implode like last time? They gonna be asking the american tax payer for more money soon - no credit score required.
:nerd:
 
dontbelikethat said:
 
Melo0115 said:
It's weird though. I really need to look deep.. I could of swore the account was closed in 2007, so that  makes the debt invalid at this point, but now they have it for 2012. They seem to be pushing the close debt point back year after year, which would be illegal. 

I'm going to ruffle through old letters and find out when the account was truly closed, but im about 90 percent sure its passed 7 years.. But im not 100 percent sure so yeah. 
Click to expand...
Ficoforums.myfico.com, those people there are the most well versed in dealing with anything involving credit, rebuilding credit, starting credit, bankruptcy,etc.

Great&helpful community.
Click to expand...
Thanks man, Definitely posting there to get more info. 

I have four collection on my account, I get paid tomorrow. I'm paying the lowest one off, going to setup a payment plan for the next two, I want to let the sprint collection drop off, because after looking I think to close date was 2009. But I know it looks a lot better if i pay it off.  
 
Zyzz said:
Been bringing them card holders and they won't increase my damn line
Click to expand...

Damn. its been 90 days for you right? might be time to open another card if this is your only one to show em you can hold your weight.

I did mines exactly on the 90th day and I was showing a lot of activity as well
 
Guess my credit is finally starting to look decent enough to get approved for stores. Got approved for $600 limit at Walmart and $250 at Pacsun. Applied for Macy's and it said further processing is needed.

@xyzz what score would I need to get approved for a discover IT? I want one for the cash back rewards but am not sure my score is good enough.
 
sthebest said:
Guess my credit is finally starting to look decent enough to get approved for stores. Got approved for $600 limit at Walmart and $250 at Pacsun. Applied for Macy's and it said further processing is needed.

@xyzz what score would I need to get approved for a discover IT? I want one for the cash back rewards but am not sure my score is good enough.
Click to expand...

Mine was like a 690 with no credit cards history just student loans so maybe around there if you've got some credit
 
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