I maxed out a lot of credit cards 4 years ago & never looked back How can I restore my credit?
When I turned 18 I was very stupid and in a manic episode I maxed out like 8 different credit cards and ruined a bank account in the span of like a month. I’m now 22 and I want to get my credit in order. My credit score is extremely low. What do I do now? Where do I get help to restore my credit if I don’t remember where the credit cards were from? Does credit really erase after 7 years?
Tags: back, Cards, Credit, looked, maxed, never, restore, Years
i have been there before. Yes the seven years is true. The best thing you can do is to get a copy of your credit report ( try searching for free annual report) and then it will show you the whole;e ugly truth. It will also have the date that each item is to be removed. Be patient and wait till those dates. Then check your report again, if they are not gone you can call the credit reporting company and they will remove them. Then start small ( open a few store lines of credit) to establish you credit and then after some times you will be abel to get a major card or a loan. Good luck. It takes time, but be patient and you’ll get it worked out.
you should become a member of congress. oh wait you’re being responsible so you’re no longer qualified. You should cut up any remaining cards and use only cash. spend less than you earn. start saving. if you don’t use credit, then you don’t have to worry what your credit rating is. budget through the use of an envelope system. put all your income into various envelope categories – once the envelope is empty you can’t spend it, and you will find it impossible to overspend.
My first reaction is to start playing Lotto.
My second reaction is to become an elected official. You get job security, a guaranteed pension and a great healthcare plan.
With that, who needs credit?
Request your credit credit reports from annualcreditreport.com or call them toll free @ 1-877-322-8228 for all 3 free reports. Paying them off though really isn’t going to boost your credit since it’s 4 years old. If you want to rebuild your credit and you have $500 or more in a savings account, convert into a secured credit card. Most banks can set it up for you.