How do you "fix" your credit? Any quick methods?

[dxkj]

Ok just so people know, I always pay my balances in full each month....

but this is my situation



I have a bank over in NH that I had a credit card with, I bought 500 in computer parts and then sent to pay it off, but somehow i got interest added in before the money got there ,and it left like 3 dollars in the account or something..


6 months later I check my bank online (I dont use this bank much just have some CD's in it and like 100 in my checking/savings) and I see that my credit card is up at like 123 dollars and I was like WTH.... I check, and i have 6 months of 20 dollar late fees counted against me because of the few dollars left in there...


So now, I applied for a few new credit cards and got rejected, so I only have my two 1k credit cards left.... any suggestions on how to fix my credit? Right now Im using my cards for everything and paying it off with my bank account just so they see that Im still a good guy..



any other suggestions?

 

[bleeb]

you're fvcked .. its credit history man... the only way is to continue to pay your minimum balances... until a few years.. i'm not sure how long it takes... also did they ever send you mail regarding the balance? Might want to call and see if they can do anything about that because you never recieved mail.

 

[RossMAN]

You're fsckered basically. Besides you should have received cc statements showing your $3, $23, $43, $63, etc. balances with those late fees piling on.

 

[dxkj]

unfortunately my mailing address was out of date since I moved after that, my bad

 

[amnesiac]

Originally posted by: dxkj
unfortunately my mailing address was out of date since I moved after that, my bad

Yep, then it's your fault and you're pretty much screwed. Sorry.

 

[kranky]

I have no idea if this would work, but if I were in your shoes, I would try it.

First, I'd start putting more money in my accounts at that bank, as much as you can. You want to make it look like they are your primary bank, and if you can keep increasing your balances regularly, that's even better. After a few months (don't rush it), call your branch manager and ask to make an appointment concerning your accounts there. If the manager presses you for additional details, just say you'd like to discuss it in person at a time convenient for the manager. Give the manager your account numbers as a courtesy so he/she can check your records prior to the appointment.

When you go in, explain that you are liking the bank more and more and are making it your primary bank, but there's just one little problem you would like to discuss. Explain the situation but don't point any fingers at the bank. Just say that you made an oversight when you forgot to update your address, and that mistake coupled with the mistake of not anticipating the original $3 interest caused six months of $20 fees to accumulate. Say that you have no problem paying the fees which you owe because it was your own oversight that led to that situation, but you have recently become aware that it put a large blot on your credit record.

You can say that you feel foolish enough that a $3 miscalculation ended up costing you $120 in late fees because you forgot to update your address, and ask the manager if there is any way to have it removed from your credit record. Try to get the manager to see that you paid a pretty big price already for a very small oversight, and having that big of a mark on your credit record for that mistake seems excessive. Don't be pushy, don't demand, don't act like they owe you a favor. Just try to come across like a regular guy who made a small $3 mistake that due to the circumstances grew into a big problem, and you are asking for the manager's help in clearing what seems to be an excessive punishment (it cost you $120 for the $3 mistake, and on top of THAT you have a black mark on your credit record). Even if the answer is no, thank the manager for his/her time and consideration and don't get angry. Sometimes they change their mind later.

The manager will have already reviewed your accounts and made a mental decision as to how good of a customer you are. All banks bend rules for good customers, and for customers who look like they have the potential to become good customers. If the manager sees your increasing balances, your prior good payment history, and thinks you are going to become an even bigger customer, chances are the manager will try like hell to get that off your record.

Be sure you can explain why the statements you never got weren't forwarded to your new address. If it works, it will be worth the set up and the few months of waiting.

 

[dxkj]

yeah i know i pretty much shot myself in the foot here, not asking for any pity =/ luckily my fiance soon to be wife has really good credit so any future credit needs will we be able to base it on that?


thanks for the suggestion, I might do so.

 

[bozo1]

Pay the bill and the late payments will go away in 12-24 months.

 

[RossMAN]

Originally posted by: dxkj
yeah i know i pretty much shot myself in the foot here, not asking for any pity =/ luckily my fiance soon to be wife has really good credit so any future credit needs will we be able to base it on that?


thanks for the suggestion, I might do so.

At least you own up to the fact that it's your screw up. If I were to apply for credit I would put your wife's name first and not put your name on the app. If she is declined due to lack of income put your name as secondary applicant and hers as primary.

 

[classy]

Actually you are not that bad. First, paying off your balances every month is not a good thing. You read that right. Credit card companies are reluctant to give increases in credit lines for balances that get paid off every month. Keep a couple hundred on each card and you'll watch them increase your credit line, which will help you establish good credit because the more money your worth increases your credit worthiness. Just don't be late anymore. Slow credit is the worst credit. A person who files bankruptcy can have an excuse as to why. A person who pays slow is just lazy. Don't apply for anymore credit cards. If creditors see you getting rejected a lot they will follow suit. After a while they will find you, trust me. Credit is your entire life. It takes time. So be on time and wise and the good credit will come.

 

[ReiAyanami]

rack up more debt, file for bankruptcy, then sue them, its the american way. while your at it drive a giant SUV.

 

[StageLeft]

Originally posted by: ReiAyanami
rack up more debt, file for bankruptcy, then sue them, its the american way. while your at it drive a giant SUV.

LOL. You can fix this by the same way people get good credit history: Time and being good from here on in. It's about it.

 

[Hamburgerpimp]

A few late fees is nothig to worry about. The best thing you can do for your credit is having Real Estate and paying it everytime for a few years. This will raise your Credit Score more than anything else. Don't know what position you are in to do that.

 

[pandapanda]

Try calling the company that holds the account. Tell them you thought the account was paid in full, and because you moved you never found out different. They can see your account history, and will see the large payment you made. More than likely they will get rid of the late fees, but you have to ask.

 

[bleeb]

Originally posted by: classy
Actually you are not that bad. First, paying off your balances every month is not a good thing. You read that right. Credit card companies are reluctant to give increases in credit lines for balances that get paid off every month. Keep a couple hundred on each card and you'll watch them increase your credit line, which will help you establish good credit because the more money your worth increases your credit worthiness. Just don't be late anymore. Slow credit is the worst credit. A person who files bankruptcy can have an excuse as to why. A person who pays slow is just lazy. Don't apply for anymore credit cards. If creditors see you getting rejected a lot they will follow suit. After a while they will find you, trust me. Credit is your entire life. It takes time. So be on time and wise and the good credit will come.

weird .. i've been paying off my balances everymonth and I got my credit limit to 50,000 and I never had a job before!!!!

 

[Nutdotnet]

Have you tried calling the credit card company and speaking with them? Maybe they'll be forgiving as long as you pay the initial debt.

 

[RossMAN]

Originally posted by: Hamburgerpimp
A few late fees is nothig to worry about. The best thing you can do for your credit is having Real Estate and paying it everytime for a few years. This will raise your Credit Score more than anything else. Don't know what position you are in to do that.

You're right late fees are nothing but showing that you're 180 DAYS PAST DUE is the killer.

All it takes is a late payment of $0.01 or more for 30 days or longer, that's all it takes.

 

[dxkj]

Yeah I know, I was pretty busy for those 6 months and just never thought to check it, and I know 180 days is killer


I also heard about the "not paying it off every month" thing, I might try that for a bit, but right after the fact, showing that im gonna do my job in paying it off might help more