Question
How does it work if you had a bunch of credit cards and repayed some last year?
I have bad credit cuz I always get refused for credit cards now. When I turned 17 I had a visa and than at 18 I had a credit card for all major stores and just spent like crazy...........I was pretty stupid for doing that but oh well. now I have paid off a few debts one year ago and still owe 3 companies. 2 visas and a department store credit card....It is listed as bad debt ..What can I do, should I go to incharge Debt solutions or repay it when I can. When will I eventually be able to get back into the game and rebuild credit. I have cell phones under my name and home phone, also I have a credit card which is kinda prepayed. I put a deposit for $75 and get a 300.00 limit. So its not bad, is this helping my credit if I pay on time every month for a period of like 6 months or something. Thanks for any help
7 months ago - 1 answers
Best Answer
Chosen by Asker
When you finally pay off all the bad debt, your credit rating starts climbing. It happens rather quickly. The change to your credit rating for having less bad debt (becuase you paid some creditors off) is not nearly as great as the change for having no bad debt. Just keep trying to pay everything off. When you finally do, you'll start getting junk mail from people trying to give you their card a few months later.
7 months ago
Asker's Rating: 
Other Answers
Try and pay as much as possible on all the bad debt. Get proof and see if you can get a small loan from a more liberal loan company like Security Finance (www.securityfinance.com) if there is one near you let them know ure situation and then make sure u tell them about u trying to build ure credit and pay prior negitive accounts...if u get a loan (which will better effect ure credit score then a credit card) every 4 payments it will help ure credit score...
by anita bacon- 7 months ago