Building up Credit Again?

Question

In college I had a bad credit card that really hurt my credit rating. I went through a payoff and that account is now closed. ( Thank goodness!)

Anyway, I've been trying to rebuild my credit up for the past year or so. I've been on time or early with the payments and I've been paying at least a little over the amount due to the said credit cards.

My problem is that since I've pulled up my credit report, those accounts are showing as negative for some reason... even though I've been making payments and etc on these cards as long as I've had them. Is there any reason why they'd still be considered in the negative? I've never defaulted on the two I have left and I've been "very" responsible with them, so I'm baffled as to why they're labelled as "negative."

What are some things I can do to up my credit score and to change these accounts from negative to positive? I have no car loan as I paid cash for it. How do I fix this so I can move on and out of my current house? Thank you! ;)

Answer 1

They could be showing up as negative because you're close to maxing out.

If your balance is more than 25-30% of your credit line, that becomes a negative.

A lot of the FICO-mortgage brokers have gone bankrupt.

The ones that haven't have started going old-school.

Here's Old-school mortgage requirements:

1) 2 years steady income at the same job.

2) 20% down

3) Verifiable cash in the bank to cover 6 months salary.

4) No other debts

5) A house payment of no more than 1/4 of your take-home pay.  That means a mortgage of no more than 2 year's salary

Answer 2

You should get a credit card with bad credit.Here are some bad credit credit cards you could choose one and apply

http://www.apply-best-credit-card.com/ca...

Then you need to rebuilt your credit Follow this guide

http://www.apply-best-credit-card.com/5-...

And I think this article is good for you!!!

Get a Credit Card with Not Good Credit History!

http://www.apply-best-credit-card.com/ge...

Answer 3

You need to contact the credit company and inquire Y R they reporting a negative to the credit agency when you have been on time. in making this call, make the dates, amounts, check number or money order as your proof and request those items be reversed.

Answer 4

Read Dave Ramsey. http://www.daveramsey.com/

Answer 5

there a credit card that is for people with bad or no credit, you just hav to go to http://d00.info/7206-creditcard and fill out the information and you are almost gauranteed to be approved.  

Answer 6

It is important to build credit in American society starting at a very young age. The reason that it is increasingly important to build credit is because of the standard developmental stages American adolescents and young adults go through. After leaving home, a majority of American children go on to college. In order to be able to afford the expensive items (like textbooks) and the fun activities (like Spring break trips), it is sometimes necessary to rely on credit. You want to build<!--credit which reflects your credibility as a borrower. In order to build credit of this kind, you will want to follow a few simple rules. The first is to make sure that you pay off the balance of each credit card in full at the end of each month.

http://best-loans.awardspace.com/repairc...

If you build credit early, it will be there to access during your starving college years, when you may need it most. After college almost always comes a car, a family and a house, all of which bring their own financial obligations and each of which requires that you increasingly build credit which reflects your stages of growth.Other keys to build--> credit are to always make payment early or on time, to make sure to always stay within your given credit limit, and to avoid applying for numerous credit cards. Regular monitoring of your credit report is also important because, once you build credit, you don’t want it destroyed by computer errors or, worse yet, identity theft.

Answer 7

It sounds like you just want to clean up some paid negative items from your credit report.  There are many simple credit repair services out there that can help.  Check out the source website and their free evaluation form.  Watch your score soar after the negatives are gone entirely.