what do i do with $18,000 and 824 credit score?
913744
Use the money for a down payment on a house and use the credit score to your advantage by getting a low interest rate. You might consider buying a duplex that has good potential, and then charging over what you owe on the loan. Then you could eventually save up enough money to buy another house and rent it out. \n\nIt's just one idea that has worked for people that i know.
1059262
You're only 21 and you already know you're going to retire from your county job? Sounds very immature. You're in a very high credit risk category, with a huge risk of default. Why would anyone lend you money at 15%? I'm not sure why anyone will would lend you at ANY rate at all.\n\nI'm guessing some of your debts are now in collection. See if you can negotiate with the collectors to pay off a smaller amount. Sometimes they'd rather accept a smaller amount than nothing at all. You may need help of credit counseling services, just make sure they're legit. Read my source for some more information about this.\n\nIt looks like minimum monthly payments for your debts add up to at most $650/mo (my estimate). If you don't want to or can't declare bankruptcy (which I don't recommend), what you need to do is order all your debt by APR, and while making minimum payments on all of them, put any extra money you have towards the debt with the highest interest rates. Do not be tempted to pay off the smallest debts, it is financially unwise. You will pay off all your debts much faster if you pay down highest interest debts first.\n\nIt's hard to believe you can find a 1-br for $250/mo anywhere. But you didn't include any other bills (electricity, gas, land-line, cable). I certainly hope you don't have cable or land-line.\n\nYou have an $82/mo cell phone bill. What's wrong with you? Do you realize that's almost $1000/year? You could be using most of that to pay down your debt. Nobody needs that much cell phone. Start watching your minutes. Start using the landline instead of the cell phone and get rid of the cell completely. If you need it for emergencies, get a pre-paid one (only pay for the minutes you use). If you have a computer, get Skype (free PC-to-phone calls until January).\n\nYou should not have co-signed your cousin. If they fail to pay, or are late, you'll get a ding in your report (and it'll stay there for a long time).\n\nWhile it appears your heart is in the right place (the only reason I'm replying to this question at all), you still have a long way to go before you can be trusted with money. Come up with a budget, follow through with my suggestions, read the resources below, and tighten your belt. You should be out of this mess in a few years.\n\nAnd "Of Course I would quit. I would actully just leave and not tell anyone because everyone annoys me here" yet again shows your immaturity. You're only working because you need the money (not because you like it), and you don't like anyone where you are yet you plan to retire from where you work.
1068830
Go to credit counseling in your area.
49021
Try Advanced Credit Systems.\n\nVery reliable and great pricing!
743319
620 is fair credit.\nMaybe the problem is you now don’t have enough credit.\nIf that’s the problem, try getting a secured credit card.\nMake sure you check and see what the services charges are, some are outrageous.\nLook around find one that will work for you.\nAfter you get your card (lets just say it has a $300.00 limit) only use 50% or $150.00 and make the payments before they due. DON”T BE LATE! If you use more than 50% of your credit limit, your credit scores could go down.\n\nAnother way you can try is get on someone’s (a GOOD friend or relative) department store or gas card account as a card user only (you won’t be responsible for there debt). Be sure this person has good credit and make all payments on time, if they don’t this will work against you.\nEvery month when the credit is reported you will receive the benefit of your friends good payment history. That in turn will raise your credit scores and make new credit more available to you.  \n\nGood Luck
859271
I have always had good credit, but together me and my husband spent 18 months cleaning up his credit from a 540 score to well over 700 (which is great btw). This was about 4-5 years ago. I only say that to let you know I know what I am talking about. For starters the actual mathematical formula used to determine your credit score is a secret. Which sucks. However, there are guidelines that are very helpful such as :\n•Payment history (35%) – the most important category. Have you made all payments on time and for how long. How many unpaid debts you have that have resulted in alternative action (e.g. bankruptcy, tax liens, collection lawsuits, etc). \n•Amounts owed (30%) – how many lines of credit you have and how much you owe compared with how much you can borrow. \n•Length of credit history (15%) – how long you have had your accounts. \n•New credit (10%) – how many new lines of credit you have. \n•Types of credits used (10%) – do you have a balance of revolving (credit cards) and installment (loans) credit lines. \n\nIf I were do this is what I would do. Get rid of the store cards (close them). Closing them doesn't hurt your credit....what hurts you credit it the fact that you are lowering your overall amount of credit extended to you, and if your balances equal more than 30% of total credit available, you get a ding. But as soon as your balances fall below 30% you get a jump in your score. So KEEP your card for 6500, and keep your balance under 30%, or get it there asap. Then never use more than 30% of your total limit on the card. Personally, I would keep the card, pay it off, and never use it again ata all but keep it open. You want to keep it open because the lenghth of time of open revolving accounts(credit cards) is a plus to your credit score. I have this one credit card that I have had since college. they keep raising the limit hoping I'll go nuts. The limit is now 11 grand. My balanace is ZERO. There fore, i have 11k of credit extended to me, but a zero balance (like i said under 30% is good), and I've had this credit card for about 8 years, so that looks "responsible" on the fico score, and is a plus to your score.\n\nIt's tricky to get used to how it all works, but I spent the time doing it and we went from BARELY being able to buy a house 4 years ago and filling out mountains of paperwork, to have great credit and filling out a one page document, and handing over a down payment to buy our second house.\n\nAnyway, store credit cards are trash! They ALWAYS have high interest rates, and they are only good for the stores they are listed for. You aren't going to be having any clothing emergencies, and if your closet burned down (literally), and you did have a clothing emergency then you could reasonably use your visa.\n\nHaving said all this, can I make a suggestion?\n\nTotal Money Makeover by Dave Ramsey. Go to the bookstore and buy it. You will thank yourself.\n\n\n***********OH YEAH! Don't ask to have you credit limit lowered on the visa (like some others have said on here)! That in itself won't lower your credit rating, but you will have less credit to use to stay under the 30%, and anytime you go over 30% that DOES give you a ding! Remember, credit limit hikes are good for you IF you stay under 30% and don't lose your mind and go nuts a Macy's!
1005024
Welcome to the latest credit card "gotcha".....it's call UNIVERSAL DEFAULT....screw up on one credit card, one loan, and have a low credit rating....at any time....and they find out....they can increase your interest rate.....get your statement from a couple of months ago and compare the interest rate to the current.....\n\n\nFirst, go to annualreport.com....pull your free credit report and pay the $8 or 9 bucks to get your fico score....if its above 620, you can call and argue.....if your history w/ them is good, you might have a shot.....BE POLITE......Tell them you are a great customer because you carry your balance and are never late....whatever...BE POLITE, but insistent.
570365
I would pay just a little more than the required payment.  If you HAVE to pay $200, pay $250 or maybe even $300. If you just keep paying the minimum payment, the interest will eat you alive.  You will start with a $1,000 debt, and by the end, you will have paid $10,000. Pay those off and get a loan at a real bank to build your credit.  Stay away from credit cards as much as possible.  For online purchases, I use pre-paid credit.  Much much cheaper.
887538
Hi there. Generally speaking your FICO score is between 300-850 with 620 being considered good enough to get a lower interest rate. Different sources score somewhat differently. When buying a car do not settle for the sticker price. Try to get 1-2 thousand knocked off. If at all possible, try to finance for no more than 2 years. This is difficult for most people. By doing so you will save thousands in interest on the loan. Do not tell the dealer how much money you have as a down payment initially. Mention that there is another car at another dealership that has offered you a better deal. (Sometimes it's just a game of BS) and I don't know why. It's just a matter of how high a profit the dealer makes.Don't be discouraged. If they won't budge, go somewhere else. Try to dress nice. It seems to make a difference on how you are treated. Good luck and never let them pressure you into any deal you are not comfortable with.
1097765
well, I've had a credit score of 785 to 810 from the time I was about 22.  The only credit card I truly believe in is American Express.  I've switched to Blue by American Express because there's no annual fee.  \n\nBut, if you can not get a credit card, I would try a credit union.  Try every one of them.  Be VERY VERY weary of credit card companies.  My entire family is in the financial business and NO ONE HAS THE SLIGHTEST CLUE HOW UNBELIEVEABLY SLIMY THEY ARE.  It would blow the average human's mind if they knew the types of practices that credit cards were allowed to practice under.  It all started with one man in the 80's who's had to move about 50 times since because so many people want to assassin him.  He's the one that created the concept of "compounding interest" and made the credit card companies TRILLIONS of dollars off of people's misfortunes.  \n\nSO, if ANYONE like at a store like target, old navy, gap, walmart, ANYWHERE offers you a credit card and you'll save yourself 15%,,,,tell them to go (*&#$(*@&#($ themselves.  They are out for your first newborn.  \n\nOnly trust American Express and a credit union.  You should be able to find a credit union who will give you a small balance just to see how well you do with payments.\n\nYou will build credit, don't worry.  Just pay off car loans, student loans, etc.  All of that counts towards credit.
207623
your credit score can run as low as 300 and as high as 850\nI should know im a loan officer and I run credit all the time.
1006724
You will not get the credit you think you deserve because you must first establish credit. I know a kid whose only bill was a cell phone. Guess what? He went delinquent on it. He has just put the first stain on his credit.\n\nThe only way to prove yourself is to accept the high interest rates now. Pay them on time all the time. Maintain your employment for as long as you can. If you change you job within the last year it will affect your interest rate and may even affect whether or not you are approved for credit. Keep in mind that creditors are looking to see what they can work with.\n1. How much do you earn? In most case it must be over $12,000 USD.\n2. How long you've worked at your present job? Should be better than a year.\n3. How old your are? Over 24 is a better chance to get credit and lower interest rates\n4. Do you own or pay rent? "Live with parents" doesn't impress a creditor.\n\nIf all the above are good answers then work on getting a secured credit card. There will be a lot of fees associated with a secured card such as application fee, annual fee, processing fee and late payment will be $25 and up, and your interest rate may be around 18 - 25%. Do this for a over a year. Make sure you actually use the credit card but dont ever max it.\n\nProvidian Bank may give you credit without money into a savings account but there interest rates will be up there. They start of low but every 6 month they increase as long as you've made timely payments.\n\nAlso get a loan. Have a family member cosign it. Your credit as well as their credit is affected. So as long as you make timely payment its a win win situation. You can't be denied an auto loan. Having and paying these loans and credit cards increase your credit score. Once you have these under your belt and your on the better side of items 1-4 stated above, you should be home free.\n\nGood Luck
614193
What to consider ... DON'T DO IT!  You don't need a credit card.  It will only get you in trouble by allowing you to spend more than you make.  If you can't pay for it with cash now, how do you plan to pay for it when the bill comes in?  And if you don't pay the balance in full, they'll charge you interest, so the item you bought just cost you even more!  In fact, if you ONLY pay the minimum payment, it can take 40 YEARS to pay it off!\n\nOpen a checking account (assuming you have a job) and get a check card.  It's like a credit card (has the Visa or MC logo), but it takes the money straight out of your account so you CAN'T overspend.\n\nIf you only use cash to buy stuff and keep building your savings, you'll be SOOOOO much better off than 99% of your peers with credit card and auto loan debt.  Use cash for everything (except a house).  Don't even buy a car on credit - they depreciate too quickly.\n\nIf I had heeded this kind of advice when I was younger, I would have avoided SOOOO much trouble and wasted money in interest and fees.  As it is, I'm now debt-free (except the house) and LOVE that my money is my money, not some credit card company's or the banks'.\n\nDon't worry about your credit score - worry about your savings balance.  If you have a large amount in savings ($10,000-$20,000) when you go to get a home loan, the lender can SEE that you manage your money well, regardless of your credit score.
368217
mattycindc is right on target!  Nice to see someone do the research before answering questions here.\n\nIt is generally recommended that you have 2-3 cards, and use them occasionally to establish a history for payments.\n\nIf you have more then 6, it makes it look like you have far too much available credit, and it will look bad to future lenders.\n\nWhen you close them, you are lowering your debt to credit ratio, which also looks bad.  It makes it look like you have suddenly used up a lot of your available credit.\n\nHere is your game plan.  If you have no plans to get a loan in the near future (6 months), then go ahead and close one or two cards.  It will lower your score for a short time, but your continued use of the other cards will quickly restore it.  Just try to keep 2-3 cards active.\n\nOther than that, you are doing everything right.  Pay on time, and keep your balances low.
683693
If you show you can handle different types of credit at the same time, you are rewarded with a great credit score. In other words, get installment loans like vehicle, personal loan or mortgage. Get revolving credit like credit cards: Visa, Mastercard, Sears, Sunoco Gas, Costco. By mixing it up, you demonstrate you can manage your credit because you will have short term and long term credit with a fixed payment. As well as a "variable" monthly payment on your credit cards.\n\nKeep these accounts open with a balance of 70% or less and paid on time and you will witness your credit score climb to great heights.
48916
You didn't really ask a question, but it seems to me that you would do well to establish a better credit score. The link below gives a lot of good information on how to do that.
298710
Actually, cancelling them may lower your score. Here's why.\n\nLets say you have 15 cards, and the average limit is $3000.  that gives you $45,000 in available credit.  Now lets assume you have $6,000 in debt on these cards.  The differance between these numbers is $39,000 (your available credit).\nYour debt to credit ratio is 14%. Very nice!\n\nNow lets cancel those 8 cards.  That removes $24,000 in available credit.\n\nNow you have 7 cards, $21,000 in available credit, but you still have that $6000 in debt.  Your new debt to credit ratio is now 28%.  By their standards it's not bad, but not as good as 14%, so they may lower your credit score.\n\nThat said....(that was your question?)...if it was me I'd go ahead and cancel them.  15 cards is crazy!  By wisely using those other 8 cards, you will easily restore your store within a few months.  If you have no plans to buy a car orhome soon, that would be my recommendation,.\n\nGo to www.myfido.com and read up on how credit scores are calculated.  Once you have educated yourself, you can examine your own situation and see if it's worth it.