We were discharged and closed in the past week so i pulled a free credit report tonight to get an idea how bad things would be...
I was actually quite surprised! Most of the accounts are listed correctly. Only 2 with any concern. One is John Deere credit that is reporting OK and paid on time as it is a promo account, however it was included and discharged. The other is a credit union which we had an equity credit line on a second home ( the home was included and foreclosed already). the credit union account is listed as "charge off". I think I need to get this corrected, right?
Now for the silver lining! I opened a Macy's card in Nov. 2007 to get a huge savings on a gift for my wife. Paid it off in 2 months and had stashed the card so my wife wouldn't get wise to the gift! The account showed as open and on time which would be true as I never used it after the initial purchase. I truly just wanted the savings. Anyhow, I dug it out and calle the 800 # and it is still open with my original $1200 limit.
I am thinking of charging about $50 in christmas gifts on it and immediately paying it off. then maybe use it once a month similiarly to get my scores going up. Does this sound right? I know it isn't like a bank card, but I would not have to apply for anything for a while this way either.
Sorry this is so long, but I'm trying to do the right thing and get my score going in the right direction.
Thanks in advance!
I was actually quite surprised! Most of the accounts are listed correctly. Only 2 with any concern. One is John Deere credit that is reporting OK and paid on time as it is a promo account, however it was included and discharged. The other is a credit union which we had an equity credit line on a second home ( the home was included and foreclosed already). the credit union account is listed as "charge off". I think I need to get this corrected, right?
Now for the silver lining! I opened a Macy's card in Nov. 2007 to get a huge savings on a gift for my wife. Paid it off in 2 months and had stashed the card so my wife wouldn't get wise to the gift! The account showed as open and on time which would be true as I never used it after the initial purchase. I truly just wanted the savings. Anyhow, I dug it out and calle the 800 # and it is still open with my original $1200 limit.
I am thinking of charging about $50 in christmas gifts on it and immediately paying it off. then maybe use it once a month similiarly to get my scores going up. Does this sound right? I know it isn't like a bank card, but I would not have to apply for anything for a while this way either.
Sorry this is so long, but I'm trying to do the right thing and get my score going in the right direction.
Thanks in advance!
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