Lets tlk about credit.

[Orange cream shake]

I paid all my credit cards off. All I have on my credit is a 20k car note and medical bills in default. About 7k total. If I pay this (the medical bills)will my score go up? Also I have a few cards I know I can get increases on. Is it always a good idea to accept increases?

 

[HookersandIceCream]

I paid all my credit cards off. All I have on my credit is a 20k car note and medical bills in default. About 7k total. If I pay this (the medical bills)will my score go up? Also I have a few cards I know I can get increases on. Is it always a good idea to accept increases?

Yes from what you posted, the medical bills are the biggest thing dropping down your score. Increases will help out a lot also but if you feel you do not have good self control, then don't do it.

 

[Colicat]

Where is my @KOOL-AID ?

 

[Orange cream shake]

You can still be added as an authorized user to a lot of credit credit cards (I just added my wife to my AMEX).

I also added my newborn son to one of my credit union credit cards b/c the AGE of your individual credit card accounts and LENGTH of your credit history are also major factors in your credit score. So when most cats are just starting their credit history at 18 yrs old my son will have an 18 yr head start.

The important thing to keep in mind is that the credit card company has to report the credit history to the big 3 credit reporting agencies for the proposed authorized user to get the benefit.

He'll never know about the card until he goes to college though!

Yes from what you posted, the medical bills are the biggest thing dropping down your score. Increases will help out a lot also but if you feel you do not have good self control, then don't do it.

my credit cards and the fact that I have paid off 2 cars in a few years is what has increased my credit. I pay all of my current bills on time. I have no delinquencies with car notes or credit cards. Somebody told me to not pay the medical bills because they are already delinquent and won't change your score because the delinquency remains. I only use my credit cards to keep them open. I don't really spend outside my budget unless it's a promotional plan and I can get no interest deal.

 

[↓R↑LYB]

I paid all my credit cards off. All I have on my credit is a 20k car note and medical bills in default. About 7k total. If I pay this (the medical bills)will my score go up? Also I have a few cards I know I can get increases on. Is it always a good idea to accept increases?

If you pay off the medical bills your score will not go up. The bad remark is already on your score and paying it off doesn't improve it. You can get some things removed off your credit report by knowing your rights under the FCRA and FDCPA. I can't remember everything but check out creditboards.com. they helped a lot when I was cleaning my credit. I got all types of shyt removed, jumped my score way up.

You can contest anything negative on your credit report. And if either the credit reporting agency, debt collection agency, or the original creditor don't respond within a timely fashion, they're required by law to remove that shyt from your credit report.

Other times I literally asked politely and they removed it.

You can alsp do shyt like call the collection agency and do a pay for delete (you pay the balance, and they won't contest when you dispute the negative mark on your report.

 

[Orange cream shake]

If you pay off the medical bills your score will not go up. The bad remark is already on your score and paying it off doesn't improve it. You can get some things removed off your credit report by knowing your rights under the FCRA and FDCPA. I can't remember everything but check out creditboards.com. they helped a lot when I was cleaning my credit. I got all types of shyt removed, jumped my score way up.

You can contest anything negative on your credit report. And if either the credit reporting agency, debt collection agency, or the original creditor don't respond within a timely fashion, they're required by law to remove that shyt from your credit report.

Other times I literally asked politely and they removed it.

You can alsp do shyt like call the collection agency and do a pay for delete (you pay the balance, and they won't contest when you dispute the negative mark on your report.

Thanks!!! I think I'm going to pull the old yall had the wrong address. But I work for a creditor and I've seen where clients will say we promised to remove the delinquency and it doesn't happened and we don't remove them so hopefully medical bills are different.

 

[BeetAficionado]

how does this shyt wrk?? I took a personal finance class bike in hs dat went over this and interests, checks, leasing, bankruptcy etc. but i forgot most of what i learned. I need yall to break this shyt down to me, @Theraflu and any other banker brehs help.

Get a card. Use it sparingly and pay regularly. Don't buy nothing you can't afford. And then when the time comes that you want some big money they'll give it to you. Got my business loan off liquid but also because of great credit.

 

[-DMP-]

my credit cards and the fact that I have paid off 2 cars in a few years is what has increased my credit. I pay all of my current bills on time. I have no delinquencies with car notes or credit cards. Somebody told me to not pay the medical bills because they are already delinquent and won't change your score because the delinquency remains. I only use my credit cards to keep them open. I don't really spend outside my budget unless it's a promotional plan and I can get no interest deal.

Take the increase on all cards. If you ever use one again, your usage percentage will be lower (than if you didn't get the increase) and won't affect you score as much.

-DMP-

 

[HookersandIceCream]

my credit cards and the fact that I have paid off 2 cars in a few years is what has increased my credit. I pay all of my current bills on time. I have no delinquencies with car notes or credit cards. Somebody told me to not pay the medical bills because they are already delinquent and won't change your score because the delinquency remains. I only use my credit cards to keep them open. I don't really spend outside my budget unless it's a promotional plan and I can get no interest deal.

True to an extent.But while you are waiting for it to drop off, you score will remain low.

Do the smart thing and pay it off. The best case scenario where it will go up is if they delete it off you report. You can request a pay for delete for any debt which is what your first step should be. If not just pay it off.

Increasing your limits increases the amount of credit you can use. Which lowers credit utilization. My scores jumped when Amex increased two of my cards. I opened a discover which gave me 10K and my scores have never been better.

 

[Orange cream shake]

True to an extent.But while you are waiting for it to drop off, you score will remain low.

Do the smart thing and pay it off. The best case scenario where it will go up is if they delete it off you report. You can request a pay for delete for any debt which is what your first step should be. If not just pay it off.

Increasing your limits increases the amount of credit you can use. Which lowers credit utilization. My scores jumped when Amex increased two of my cards. I opened a discover which gave me 10K and my scores have never been better.

My credit score went up 20 points when I lowered my usage to 3% on all my credit cards so I know it can go up. I just wanted to know if I paid those medical bills will it increase which is probably a no. I'm debating now do I want to initiate the increase or just let them do it. I don't want those inquiries to bite me in the ass in a few years when I buy another house.

 

[-DMP-]

My credit score went up 20 points when I lowered my usage to 3% on all my credit cards so I know it can go up. I just wanted to know if I paid those medical bills will it increase which is probably a no. I'm debating now do I want to initiate the increase or just let them do it. I don't want those inquiries to bite me in the ass in a few years when I buy another house.

Dunno if you know this but it wouldn't hurt to ask them to lower you apr. It works, trust me. I've done it before.

Now that your cards are payed off, you have leverage and they want them to use the more. Hence why they offer credit increases.

-DMP-

 

[↓R↑LYB]

My credit score went up 20 points when I lowered my usage to 3% on all my credit cards so I know it can go up. I just wanted to know if I paid those medical bills will it increase which is probably a no. I'm debating now do I want to initiate the increase or just let them do it. I don't want those inquiries to bite me in the ass in a few years when I buy another house.

The smaller your debt to credit limit ratio, the higher your score. If you request a higher limit and you get it, it will positively affect your score.