If anyone wants to look over this and advise, I'd appreciate it.
In 2003 I lost a cushy job, had paid off nearly all my debt and had just opened a new account. I cashed out my 401K (barring stocks) and moved to Los Angeles, where I failed to find a job for over a year. During this time, couldn't pay on anything I owed, and used one card to pay for rent and food. Still couldn't find a job when I got home, had to "borrow" from family to pay for bankruptcy, which was cleared in 2005. I just got full time work in July, after temping off and on for a year prior, so there's a 4 year gap between opening my last credit account, pre-firing, and opening my latest account in August 07.
Credit Summary
Percentage of credit currently available 95.62%
Satisfactory accounts 16
Now delinquent/derogatory accounts 0
Was delinquent/derogatory accounts 8
Public records 1
Number of inquiries 3
Debt Summary
Real Estate debt (mortgages) $0
Revolving debt (bank and retail cards) $2,688
Installment debt (fixed payment loans) $1,144 (listed as NINE accts!)
Other debt $0
Collection debt $0
Your Approximate Total Debt $3,832
:?: I found some merchant accounts STILL open on my credit listing, that I'd paid off years ago and have actually cut up/lost the cards - they never set updated ones! I want to call them and close these out. Good idea or no?
:?: My school loans from 1994, for a pitiful $7,000, are all still listed. The original accounts were sold from Sallie to Fannie, then back again. I have SEVEN listings, but only two are open and active and fine (I rehab'd them). Is this bad or good? Should I try and get them removed? It's affecting my main listing of how many accounts I've opened!
:?: Do you remove accounts that are "Closed by subscriber" or does that look favorably on me? Again, they're mainly merchant accounts I never used.
:?: I used my mom's empty card to pay for work clothes, lunches, etc while I was starting temping. I have a hefty balance on there, but it's in her name, not mine, so me paying dutifully monthly ain't helping me. I was trying to figure out a way to balance transfer it somewhere, but my new WaMu card would go over-limit, and I don't want to use a 25% interest rate using those checks they send. Any ideas?
I'm being very cautious right now about, well, life in general. For the first time in four years I'm getting a [really really good] paycheck, and I've got a strict budget with five sets of savings I'm putting into. I have opened a WaMu MC because I banked with them in LA and left my checking account open there for when I move back (and they had a good offer AND accepted me!). I applied to open two merchant accounts, one will be paid off immediately and the other was declined because of my credit.
I appreciate anyone looking over this. I'm not particularly worried because I pay debit card for literally everything (even bought a bed and a vacation that way!) but I'd like to start paying attention to it.
I forgot to add that they still list my employer of 2003. Should I get this removed/updated or is it in the works? I've only been a real, full-time, paid-by-them employee since July of 2007.... ?
Well Heidi you have to be patient to solve this backlog. Dispute the items that are not supposed to be there. Try debt consolidation. That will be helpful to settle your debts easily. Join the debt forum and find out.
1) Leave these open. They help your score by keeping your debt/credit available ratio low.
2) Dispute all inaccurate entries.
3) If these were never used, I don't think they help, or hurt your score.
4) You can still do a balance transfer for a portion of the debt. Be sure to leave room for balance transfer fees (usually 3%, up to $75...some have no cap on the fee).