Secure Credit Report

I opened a secured credit card about a month ago to improve my credit but I still have 2 open Acounts offenders who supposely will be deleted in 1 year (they have since 1998) from my credit file. should I keed credit card or should I cancel?

Yes, it is good to have an account secured credit card. DO NOT close the account secured credit card. Good for you to take a step in the right direction: you are establishing good credit history for yourself!

Firstly, it is a myth that you need to achieve balance - and therefore pay financial expenses - to improve your score at the fastest rate. 35% of your score is for payment history. You can FICO score max points by making a purchase NECESSARY small, once a month on each card and pay the card off in full every month, always on time. Post-crime, you want to show a lender that you do not need credit for anything except a mortgage. Change your lifestyle so you do not need to carry balances.

You can obtain a free copy of your credit report from each of the 3 credit reporting agencies (CRA), once a year at www.annualcreditreport.com. Check your credit report from TransUnion. It reports up to 48 consecutive months of activity from month to month, in a small box. Your goal is to produce a string of 48 consecutive boxes with OK by them, on every account, no financing charges. It will be a great show to a mortgage lender.

30% of your score is credit utilization: how much of your credit limit is used by your balance? You must keep your balance below 30% of your credit limit, or you hurt your FICO score. For example, if you have a credit limit of $ 800, you do not have a balance greater than $ 240, or 30% of $ 800.

If your credit cards are secured, you simply pay the first month of starts. After 6 consecutive payments OnTime open for 6 months, ask your card turned unsecured, your security deposit returned with interest, and your annual fee waived. If the company refuses, try again at 9 months and 12 months. The company can convert to unsecured automatically. If your card is no guarantee and you have no more at his own expense, keep it open. 15% of your FICO score is the length of credit history. The user has an average credit account opened oldest
which has been open for 14 years. They also mark you on the average of all accounts have been opened in your opening.

You can not improve your score by closing credit card accounts, you can only hurt your score. Just do not pay money to keep the account open (for example, an annual subscription).

Having something on your credit record since 1998 is unusual. He would rather be a Chapter 7 bankruptcy, tax lien, or judgments obtained against you in court. If it is simply a debt, it must be removed after 7 years, 7 years after the original creditor, he charged off. Re-aging the debt is illegal.

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Half of credit repair is to rebuild your credit - keep the card.

What type of delinquent accounts Do you who are still in your reports for so long?

Not to keep it and try to buy more and pay bills with credit cards to improve your credit.
To learn more, visit
http://creditcardbiz.blogspot.com
and
http://onlinepaymentoption.blogspot.com