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  1. #1
    mpmckinney55
    Guest

    Default Bad Credit to No Credit to...

    Hi all. This is my first post to this forum. The 10,000 view of my

    question deals with going from poor credit to no means of earning

    credit.



    I have cleaned up my credit, paid all debts off about 1.5 years ago.

    I am in the 1/3 credit range on the low end. All my credit cards

    that I have paid off are all paid off but closed. I am trying to

    build up my credit, but don't have any credit cards other than my

    corporate card (which is still reported to credit agencies) and a

    new credit card I got about 6 months ago with a $500 dolloar limit.

    I don't have a car note to worry about because I have a company car,

    so I am not able to show ontime payments on a car note.



    I can only get credit cards that have credit limits that are less

    than $500. I have a great job that brings in six figures so paying

    credit card bills is not a problem anymore.



    The question is how do increase my credit score knowing I don't have

    anything to report to the credit agencies other than my one credit

    card and corporate card (both cards are always paid on time)?



    Thoughts.



    Thank you in advance for any thoughts and suggestions.



    -Trying to Earn Credit.








  2. #2
    Sarah Long
    Guest

    Default Bad Credit to No Credit to...

    There is no quick fix for this situation. I am in the middle of a similar situation. It just takes time to develop a payment history with your new cards. Just take it slow and they will raise your limit. Also if you get an offer for a better card in the mail do not hesitate to take it but be sure to cancel out the old one and then tell them the reason. They just might surprise you and give you a higher limit to keep you as a customer.

     



  3. #3
    Karen Howell
    Guest

    Default Bad Credit to No Credit to...

    If you have a bank and some $$ in savings, ask to borrow some $ on a short term loan - say 6 months or 1 year. Borrow the money and pay it back on time - do this a couple of times and it should help. I've heard that really short term loans like 90 days don't count and I'm not sure about 6 months - so might investigate what length does help. This will cost you the interest but if it helps build your credit score it can be worth it. KarenMO

     
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  4. #4
    Jay Murphy
    Guest

    Default Bad Credit to No Credit to...

    Look into two books

    Back off - For those who have creditors after them
    Life after Debt - for those who are looking into building their credit.

    Both are done by Benjamin Dover (yep, Ben Dover)

    Jay


    On Sat, Mar 8, 2008 at 8:21 AM, Karen Howell <karensbirds@yahoo.com> wrote:







    If you have a bank and some $$ in savings, ask to borrow some $ on a short term loan - say 6 months or 1 year. Borrow the money and pay it back on time - do this a couple of times and it should help. I&#39;ve heard that really short term loans like 90 days don&#39;t count and I&#39;m not sure about 6 months - so might investigate what length does help. This will cost you the interest but if it helps build your credit score it can be worth it. KarenMO


    Be a better friend, newshound, and know-it-all with Yahoo! Mobile. Try it now.


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