I have just begun to work with a lender to try and purchase a home my credit sco

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  1. profile image52
    slott1984posted 7 years ago

    I have just begun to work with a lender to try and purchase a home my credit score is 41 pionts off

    I have just begun to work with a lender to try and purchase a home my credit score is 41 pionts off the recommended amount to qualify for a loan. I was told by the lender to get three secured cards to boost my credit up those few points so that I can be approved faster. I already have two regular credit cards and one other regular account reporting as good credit. I could afford to do this if I need to but I don't want it to effect me in any way. My question is how many secured cards should a person get before it reflects as bad on your credit repor, did the lender tell me right or wrong.

  2. jrcemail profile image68
    jrcemailposted 7 years ago

    The fastest way is to pay off the credit cards to fifty percent utilization or less.

  3. 4closurefraud32 profile image60
    4closurefraud32posted 7 years ago

    Hi there -

    Hopefully you still need this advice. First of all, what type of negative reporting is showing up on your credit?

    If you have past due payments (30-60-90 days) your best bet is to contact the debt collector directly and see if you can work something out like a "Promise to Pay" in exchange for the deletion of the negative reporting on your credit. If you opt to do this, make SURE you have a letter from them stating that they will do this. This takes care of about 60% of negative reports.

    The other ones you may be able to challenge the validity of them through federal laws (make they prove through original account statements and signatures that you actually owned the account). Even if you DID open the account, the key here is having them PROVE it. If they cannot prove this then they have to remove the reporting which can take 30-60 days depending on the agencies they report to (Experian, Equifax, TransUnion).

    Hope that helps!

  4. Financial Help profile image60
    Financial Helpposted 7 years ago

    There are a lot of ways to start rebuilding your credit. The best is to start paying back past debts. Once they are paid, start opening new lines of credit and only use them to 50% of the total credit limit available. Keep a consistent balance and payment schedule ase well.

  5. profile image49
    debbyrayposted 7 years ago

    I have just begun to work with a lender to try and purchase a home my credit score is 41 pionts off

    Im Mrs.Deborah Ray from Atlanta.i know how it feels like to be in stress.I needed a loan badly as a single parents when i lost my husband in an auto crash.I needed this money for the Purpose of business.i could not find anyone,not until a friend directed me to UK NATION loans.i was granted 55,000 Pounds without stress.since then i have promised to advertise for them.If you are in need of urgent finance get to them on ukloanslimited@live.com here is their number +4470359 03933


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