Cedit Repair

I had the worst credit score known to man, working construction and then getting laid off. I found a credit repair company and I forget which one, I paid then 100 buks down and then another 100 dollars, it helped somewhat, afterwards I got some offers in the mail for some entry level credit cards that gave me some cards with low ceilings, Credit One, Merrick Bank, Capitol One. I charged a few things and made darn sure every month I made at least the minimum payments. Within 1 year my credit score jumped 100 points. Now I have a few higher ceiling cards with Citi Bank and BOA. Now I'm getting lots of mail from credit card companies offering me their cards.
I don't think you need a credit repair company.
You can check ur own credit and dispute charges or if it's been over 7 years have them dismissed.
I also got online and found out some useful info, for instance, do not max out your cards, even though ur making timely payments that will lower or keep ur score low.
If you have some cards then charge 15 or 20 bucks on them every month and then pay them off, that raises your score dramatically.
But, if your willing to spend a few hundred dollars to hire a credit company, it cant hurt.
Good luck.

It was about a year and a half ago I decided I wanted to have some good credit to help in my investing to eventually qualify for a bank loan or at least have some credibility when approaching private lenders.
I'm embarrassed to say when I first started to clean up my credit my score was in the low 500's and I'm proud to say it's jumped over 200 points to 727 now.
I just got approved for a BOA card with a $5,000 limit.
I expect it to keep going up as I use these cards for small purchases and keep them paid.
So, if you have a 500 credit score as I did, I can tell you that in a year or so you can drastically improve it.
Now let's find some deals and make some Money.....
rando

Hey David I used Lexingtonlaw one of the best if not the best out there.

https://www.lexingtonlaw.com

You probably heard my story of how I was making a pitiful 30 Grand a year after expenses doing construction and how the bottom fell out in 2009. Then how I had a 2 year period of collecting a good weekly income from Unemployment benefits.
Then in 2011 that ended and I sold my work truck to survive and buy Dean's book on Real Estate.
Well hell, the money wasn't coming in very fast and I got behind on my bills and my credit score went belly up.
After a few years of learning how to wholesale houses I soon started climbing out of a hole deeper than the Grand Canyon.
I started thinking about having some credit again.
I was embarrassed & actually felt sub human and worthless having a 520 score. I made a decision to get it back on track. I paid a few hundred buks to a national credit repair company, I think it was Lexington Law, they got a bunch of derogatory stuff off that had elapsed.
Then I got some credit card offers from some really flaky credit card companies, Capitol One, Merrik Bank & Credit One.
These cards had a low ceiling, one was $300 and a few were for $500, the tricky part was they charged some outrageous yearly fee, like $75 which you had to pay in advance, so as soon as you got the card you were already in debt. But I knew I had to start somewhere.
So I made a few purchases and paid on time and soon I got an offer from Citi Bank, one card has a $1,500 limit and the other one $1,000 I made a few large purchases maxing out the cards almost but still doubling my minimum payments and never late.
But I noticed my credit score wasn't improving much.
I got online and did some reading and watched some videos on YouTube how to rapidly improve your score. One guy was saying never max out your cards but only buy $15 a month and keep them paid to show activity. So I got them paid down and soon my score jumped like a monkey with his testies on fire.
I Just got a BOA card with a 5K limit, and feeling lucky and just applied for a Discover card.
So in less than a year and a half I went from pond scum to monkey balls on fire.
Just thought I wud share how it all came about.
I actually feel worthy now and not embarrassed to ask for private funding or a bank loan.
Let's make some Money.....
Rando

Big up's to you Rando that's taken action.

You know Randy when you get into the zone ( really sincere an down to earth and truthful) your AWESOME!!!!!! Iam still laughing and I NEED THAT !!!!!!! Jim

I sent in my application for an American Express card last week and a Discover Card. I got an email yesterday that my American Express application was accepted and my card will be arriving shortly.
Reeally exciting. I don't know what the spending limit will be on it, maybe another 5K
Time to kick ass on this Real Estate and chew gum, and I'm all out of gum.

Rando

Amazing Rando and I would like to add to what you have shared....

I came across a book that explained how the credit score is determined and that has helped me as well.

Well thanks to google anyone can find it and I will paste what I found here:

So how does FICO come up with its widely used score?

While the inner workings of the FICO scoring system are a closely guarded secret, the company is open about the general components of a FICO credit score. Using the information in a borrower's credit report, FICO breaks that information into categories. Those five components each get different weights. "FICO scores give the most attention to how you have paid back lenders in the past and how much you are using of the credit available to you, as shown on your credit report. Those two factors contribute roughly two-thirds of a typical person's FICO score," says FICO spokesman Craig Watts.

Here's a breakdown of the five elements of the FICO score:

1. Payment history: 35 percent of the total credit score is based on a borrower's payment history, making the repayment of past debt the most important factor in calculating credit scores. According to FICO, past long-term behavior is used to forecast future long-term behavior.

FICO keeps an eye on both revolving loans -- such as credit cards -- and installment loans, such as mortgages or student loans. Although the weight of each loan varies between individuals, FICO indicates that defaulting on a larger installment loan like a mortgage will damage a credit score more severely than defaulting on a smaller revolving loan. One of the best ways for borrowers to improve their credit score as a whole is by making consistent, timely payments.

2. Credit utilization: 30 percent of the total credit score is based on a borrower's credit utilization -- that is, the percentage of available credit that has been borrowed.

Since FICO views borrowers who habitually max out credit cards -- or who get very close to their credit limits -- as people who cannot handle debt responsibly, a borrower should maintain low credit card balances. FICO says people with the best scores tend to average about 7 percent credit utilization ratio, but that 10 to 20 percent usage is OK. That rule of thumb applies to each individual credit card as well as the overall level of debt.

As you see, the first two factors make up nearly two-thirds of your score. So if you pay your bills on time and don't carry big balances, you're two-thirds of the way toward a good credit score. The final credit score pieces can move you from a good score to a great one. "The remaining one-third of your score is determined by how long you have managed credit, to what degree you have pursued new credit recently and the variety of credit types you have successfully handled," Watts says.

3. Length of credit history: 15 percent of the total credit score is based on the length of time each account has been open and the length of time since the account's most recent action.

As a result, it is impossible for a person who is new to credit to have a perfect credit score. A longer credit history provides more information and offers a better picture of long-term financial behavior. Therefore, to improve their credit scores, individuals without a history should begin using credit, and those with credit should maintain long-standing accounts.

4 and 5. New credit and credit mix : Each comprise 10 percent of the total credit score.

Borrowers, even those new to credit, should avoid opening too many credit lines at the same time, since such behavior could suggest they are in financial trouble and need significant access to lots of credit. FICO suggests that borrowers only take on additional credit when they must have it or when it makes sense financially.

Credit mix, meanwhile, is somewhat of a vague category, but experts say that repaying a variety of debt indicates the borrower can handle all sorts of credit. According to FICO, historical data indicates that borrowers with a good mix of revolving credit and installment loans generally represent less risk for lenders.

Knowing the various weights given to components of a FICO credit score give borrowers a better idea where to focus their attention. "So to get a good score you mostly need a credit history with no reported late payments, as well as low reported balances currently on any credit cards," Watts says.

Source: http:// www.creditcards. com/credit-card-news/help/5-parts-components-fico-credit-score-6000.php

I have an American Express card now with a Frikin $10,000 Limit. I'm still in shock and astonished, how I raised my credit score in only a year and a half.
And now some of my older cards I just got some emails telling me my credit limits has been raised on 2 of my cards.
It's a good feeling having great credit, I have made some minor purchases and I owe about $600 total on them.
Because they are low balances the interest is really low and some of the new ones have 12 and 18 months with no interest.
I have some nice vehicles, all paid for in cash.
I have a fat bank account, I have several deals coming in that amount to more than I used to make working all year.
It's just a bummer I never heard about wholesaling Real Estate when I was younger, but what do they say? better late than never.
Let's make some Money

Rando,

But when it's your time it's your time and I am glad it was yours and now you can inspire others