Anyone on here have access to Credit check stuff?

[Haku]

I'm tired of only having negative credit on my record. I have a few knocks on it, but they aren't bad. However, I don't really have anything positive since I don't have any credit cards or car loans or such. I've always paid for stuff with cash or directly out of my banking accounts.

I'm getting to the point in my life where I really need to start building up some credit, since I'm getting sick of renting a house from douchey landlords that never hold up their end of things but get nit picky with everything you do.

Anyways, does anyone have access to a credit score reporting thing or just a full credit report? I tried to do the free annualcreditreport thing, but the stupid 2 of 3 of the Credit Reporting Agencies asked me if "security" questions in multiple choice form, but none of the choices were applicable to me, so they "couldn't give me my report over the internet" and I had to send in proof of identity and all that via the mail.

I honestly don't know what my credit score is, since I've never wanted to pay an automated website too much money, but I really need to know where I stand. At the least I am planning on getting a credit card here very soon, just as a credit building apparatus (not for toys unless I have the money on hand already). Not sure if its realistic, but my goal is to be able to maybe think about purchasing a house rather then renting again after my lease is up next July.

Anyone know of any banks that provide programs like this?

Josh

[Rob]

Did you go through www.annualcreditreport.com or directly to one of the three credit bureaus' websites? You get one free credit report each year. Good to get a credit card. It wouldn't be a bad idea to get a small, short-term loan as well to establish a credit rating.

This is from the Colorado Attorney General's website:

You may order one free credit report per year from each credit bureau. You will be charged for additional copies during the same year and other features such as credit scores. You may order your free credit reports at www.annualcreditreport.com or by writing to Annual Credit Report Request Service, PO Box 105281, Atlanta, GA 30348-5281. In addition, the credit bureau must notify you once a year if negative information such as late payments is added to your credit report or if a large number of inquiries have been made. This alerts you that you may want to review your credit report. Federal law requires credit bureaus to provide a free copy of your credit report within 60 days upon your request if information from that report was used to deny you credit.

[Medic-5150]

I know my credit union will pull my score every three months. If you have a loan with a bank you should be able to call and ask to refinance and have them run your score and see what your interest rate will be...As for access to anything I don't have anything more to offer other than freecreditreport.com is a scam lol

[Haku]

Did you go through www.annualcreditreport.com or directly to one of the three credit bureaus' websites? You get one free credit report each year. Good to get a credit card. It wouldn't be a bad idea to get a small, short-term loan as well to establish a credit rating.

This is from the Colorado Attorney General's website:

You may order one free credit report per year from each credit bureau. You will be charged for additional copies during the same year and other features such as credit scores. You may order your free credit reports at www.annualcreditreport.com or by writing to Annual Credit Report Request Service, PO Box 105281, Atlanta, GA 30348-5281. In addition, the credit bureau must notify you once a year if negative information such as late payments is added to your credit report or if a large number of inquiries have been made. This alerts you that you may want to review your credit report. Federal law requires credit bureaus to provide a free copy of your credit report within 60 days upon your request if information from that report was used to deny you credit.

I went through the Federal Trade Commision annualcreditreport.com website, as you posted it. Trans Union went through fine, but when I went to do Equifax and Experian, they asked me these "security" questions like "What street did you live on" or "what was a your phone number" and none of the answers had anything to do with me, so they said they were unable to process my request and that I would have to mail it in along with a picture of my SS card and drivers license. Seems to me that it is a really good way for them semi-legally get out of having to give you a credit report for free.

The trans union one was pretty decent, and there weren't any real suprises. The big one that I think is effecting my score the most is due to be removed in February, so that is good.

I will look into the small loan thing too. I know when I tried to get overdraft coverage for a couple hundred bucks, they denied it. I guess we'll see though. Gotta love all the shiesters that try to fool you into paying for a "free" credit report or even worse giving away your identity info by using similar names to the real one.

Thanks for the advice so far guys.

[CR]

Josh,
Also, look into some of the banks that do home loans or private lenders. They will tell you where you sit and can even get you enrolled in different programs depending on what you need to acheive and where you sit currently that will build credit very rapidly so that you can meet your goal of purchasing a property alot sooner.
I didn't think I would even come close to being qualified to purchase but I was pleasently surprised. You might be too.
Talk to the lenders, they will know what to do.

[Chris]

I don't have any credit cards or car loans or such

Get some credit cards, not loans. Use the cards, pay them off in full every month and your credit rating will go up. Don't bother with loans since you 'll pay interest vs credit cards pain in full will not.

[Mporter]

Get some credit cards, not loans. Use the cards, pay them off in full every month and your credit rating will go up. Don't bother with loans since you 'll pay interest vs credit cards pain in full will not.

Yep. I got a Discover Card to pay for my gas only.

[RockyMtnHigh]

Of course, this is through the on-line credit reports of the three agencies, but anything that shows up on it can be disputed. Even if you know it's legitimate, dispute it anyway, what you will find is that sometimes the company who made the negative report on you won't want to go back and do the research and supply the credit agency the information so they'll remove it, which in return will up your credit score. May seem a little dishonest to dispute something you know is legitimate, the way I see it though is if said company can't take the time to prove it, then how important was it that they made the report in the first place. It maybe worthwhile for you to jump through their hoops to prove who you are.

I know what you're talking about with the security questions, I had some strange ones too, but was able to view all of them on-line.

[Chris]

Pain = Paid :erm:

1 while a student is good. Get 3 or 4 Josh, gas, target, dept store, MC/Visa, etc. They're easy to get and boost your rating easily. I appreciate paying as you go but it just doesn't help your credit rating.

[Ardent]

You don't need multiple credit cards to build or rebuild credit. Most cell phone contracts report to credit agencies and can do a lot to help as long as you pay on time. Get one credit card that you pay off every month, even if you start by only putting $250 on it every month. By only having one card, this a) helps you keep track of your spending and ensures that you don't "forget" to pay one off and b) credit agencies will look at your available credit or open lines of credit- too much can be a bad thing (there's more risk of spending if you have a lot of credit available).

Ultimately, remember that it's going to take time to rebuild your credit. This isn't something that is going to improve overnight, and trying to make it happen too quickly can work against you.

Good luck!:thumb:

[Haku]

Thanks guys, I'll keep that all in mind. I'll have to go talk to the Loan officer at 1stbank one of these days and see what they think about it. Like Chris said, don't want to do a loan unless I need it, but if there is a possibility that I could get enough credit to do a reasonable home loan by next July, then that would be awesome. 1stbank so far has been unwilling to work with me much, so I might have to switch banks. I'm thinking credit union, but we'll see.

I'm going to look into a credit card right off the bat though, and like you guys said, just put gas and food and stff I know I can pay on it, and pay it before it goes into interest paid.

[Chris]

Multiple cards will help more than one but it's not worth arguing about. The way my kids did it when they needed to build their credit was with the 3 or 4 cards I mentioned and after each charge deducted it from their checkbook to eliminate the risk of it getting out of control.

[Rob]

if there is a possibility that I could get enough credit to do a reasonable home loan by next July

Keep in mind that it's much more difficult to get a mortgage these days and you'll likely need a sizeable downpayment.

[Haku]

Keep in mind that it's much more difficult to get a mortgage these days and you'll likely need a sizeable downpayment.

Define sizeable? I could probably have upwards of $10k if I needed it by then, but not sure if that counts as sizeable. It mostly hinges on whether work keeps up like it has, gets better, or gets worse. Its looking on the up and up these days, but we all know that can change quickly sometimes.

[Chris]

10 - 20% these days Josh...

[edog]

We just bought a house with 5% down conventional, 4.25% 30 year fixed and have to pay PMI. The other ways we could have gone about it were 3.5% down with an FHA loan or 10% or 20% down with conventional. FHA loans allow you to get a loan with not as good credit but they have a fee that you don't get back and the interest rates are a bit higher. I have an awesome mortgage broker, he helped me back when I had really bad credit, he even helped me dispute a claim I had on my credit report. I had a bounced check for a $10 pizza back when I was in college and it was bringing my score down like 40 points! PM me if you want his info.

Thanks
Erik

[Chris]

Wow, better than I posted. Listen to Erik, not me! ;)

[edog]

Wow, better than I posted. Listen to Erik, not me! ;)

Haha, I'm no expert I just do what they tell me!

[Rob]

The big issues with the low down are higher monthly payments, more money going to interest, less initial equity and you have to pay the hated PMI. But if you don't have 20 percent, you do what you can. This sure is the time to buy, though, what with depressed prices and historically low interest rates (though they're starting to edge up slightly). And if you can find short sale on a foreclosed home, the price can be even better.

[Jackie]

Haku - I don't know if you're married or not, but if so, I reccommend the following:

1. Keep separate checking and savings accounts. It doesn't mean you don't trust each other with the combined income, it just makes it easier to protect (both) of you in several ways....
2. Don't bother with department store credit cards. Visa and/or Amex will get you what you need
3. PAY OFF IN FULL every month
4. If you get a car loan or home loan, pay WAY more than the amount due each month. This will save you more than you can calculate
5. If you and your spouse own more than one car, do not put both of your names on the title as shared vehicles. This can save you if one of you gets sued for some reason. Same goes for other big-ticket items
6. If you are married, then both names should be on the title (that's too big of a ticket to do otherwise)
7. Pay ahead on your mortgage and get rid of the PMI as soon as you can. The bank will NOT remind you to drop it, so it is up to you
8. Go with a credit union if you can - they are non-profit and generally have better deals, but read the fine print regardless

[Patrolman]

Lots of good suggestions here. You are going to want 20% down if you can. Also, with that, a decent score will get you a good rate. As others stated, find a good bank or credit union, and have them pre-approve you for a mortgage if possible. They will tell you what the score is.