Im trying to fix my credit up !

Question

I have two negative accounts one from a hospital bill thats a $1,000.00 and one from an insurance fee thats $20.00 I have four good standing accounts and still have bad credit i want to raise but nobody wants to accept a credit card from me!!! how can i raise my credit up fast ?? I financed a car recently to help boost my credit but what are other ways to do so?? HELP !!! Thank you

Answer 1

First thing to do is to dispute those two bad items. When disputed, the credit bureau is required by law to verify the debt. Without verification, they are no longer allowed to report it. If the hospital cannot come up with the records to prove it, it must be dropped.

Secondly, put $1000 in a savings account at the bank. Use it as collateral to borrow $1000 from the bank. Take that $1000 and open another account at another bank and use it as collateral to borrow $1000 from them as well. Make a few payments on the loans and then go pay off the first loan with the proceed from the second loan. Take your savings account from the first bank and use it to go pay off the second loan. You now have two bank loans of $1000 that will show as paid on time and paid off.

Contact WAMU. I understand they will open a credit card for nearly anyone for $500. Be wise with it though.

Answer 2

I can actually second Jessica A's response.  The guide there is definite great tool for anyone looking to repair your credit (boost your score).  I used it a while back and it did indeed open my eyes up to some credit shenanigans I had know idea about.  It pops up from time to time, but right now I know you can get it here http://buildmycreditscorefast.com/guide  

Answer 3

Pay of your outstanding debts.  That's the only way...unless you want to wait X number of years until they clear.

If you have 4 accounts that are active, you might be at the limit of credit that anyone would extend to you.  If your accounts are new, then you don't have enough history for them to go on.  Keep making payment on time and just wait it out.

Stop applying for credit.  Wait another 6 months at least.  Every time you apply for credit, your score drops by a few points.  

Answer 4

I recently improved my credit score in about a month. I got married about a year and a half ago and while my husband had good credit....mine really wasn't really up to par. I had made some stupid mistakes in college. Had credit cards I couldn't afford and of course couldn't pay. I followed some of the steps from a credit guide that my husbands best friend recommended to me;. This is the page I had bookmarked, www.buildmycreditscorefast.com/guide I am still reading through it, but there was one chapter on changing your credit in 30 days that AMAZINGLY worked. Just through Experian alone I use to have 14 negative marks on my credit report....now I have 3; with 1 of them falling off in October of this year and the other two by April of 2009. I hope that this helps :)