kburgess612 asked:
i have previous closed accounts, charged off, taken to collections, delinquent, and finally paid. there are about 5 credits all the same, will not be taken off until 5 years. they were minimum amounts between 200-500 each. i have a student loan i pay on time each month. i get denied for credit when i apply for my bank (wells fargo) personal loans and credit cards. i do not want to be in more debt since i finally got all of those delinquent accounts paid off now. how do i re establish credit, all i get is denied, and i need money for a loan someday soon. is a secured credit card through the bank the way to go? is there any other ways to re establish my credit or help my credit report/score? if a secured card is the way to go, explain to me how it works, i understand you put down a minimum deposit. what i dont understand is you make monthly payments, but if its YOUR deposit, why would you OWE anything?
Kim
i have previous closed accounts, charged off, taken to collections, delinquent, and finally paid. there are about 5 credits all the same, will not be taken off until 5 years. they were minimum amounts between 200-500 each. i have a student loan i pay on time each month. i get denied for credit when i apply for my bank (wells fargo) personal loans and credit cards. i do not want to be in more debt since i finally got all of those delinquent accounts paid off now. how do i re establish credit, all i get is denied, and i need money for a loan someday soon. is a secured credit card through the bank the way to go? is there any other ways to re establish my credit or help my credit report/score? if a secured card is the way to go, explain to me how it works, i understand you put down a minimum deposit. what i dont understand is you make monthly payments, but if its YOUR deposit, why would you OWE anything?
Kim
#1 by benbardot on March 25, 2011 - 4:14 pm
Florence
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#2 by gabriel jones on March 27, 2011 - 2:36 pm
Jack
Bad credit is one of the worst problems to have… however there exists a solution.
I will hereby talk from my personal experience.
I did debt consolidation a couple of years ago, however If I had to do it again I would pay to some minor details,
if someone wants to get out of debt today it is pretty easy with a debt consolidation plan, however it may get a bit tricky at times, I suggest you get as much information as possible online on this first,
a good place to start in my humble opinion is astraight to the point ebook with question and answer I found :
if it helps kindly remember me in your voting!.. cheers!
#3 by jamesPurple on March 29, 2011 - 5:41 am
Sara
Prepaid cards (secured cards) have monthly fees, and the money you spend is yours because you need to transfer money to your card before spending.
A prepaid card (Visa, Mastercard or others) is one of many things you can do to rebuild your credit.
For more, there you go :
Good luck !
#4 by Tarun Reddy on March 30, 2011 - 10:49 am
Ana
Hi,
The best way to improve your credit is to take a secured credit card and start paying out the monthly balances promptly. Within 6- 8 months your credit will automatically improve. Please don’t fall into the trap of credit repair scams. For secured credit cards for bad credit, check out