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Archive for October, 2016

This is the week I start working on the derogatory parts of my credit, the collections and charge offs. I’m a few days late because work in real estate is picking up.

I ordered my credit reports from all three credit bureaus. I categorized everything into collection agencies, original creditors, medical bills, bad address, inquiries, judgements and liens. I’m sending specific and individual letters to each of the groups to find out how I work with creditors. I should hear back in about 30 days. Fingers-crossed.

Talk to you soon,

Leona.

If you or someone you know is thinking of selling a home, or buying a home or investing in real estate contact me. I love referrals.

Leona@LeonaTurner.com

http://LeonaGreenlowTurner.kw.com

www.facebook.com/BayAreaRealEstateToday

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September 2016

I just finished the first week of September and here’s the crash. I have to seriously wonder if I’m addicted to trashing my credit. I applied for the Target Red Card and a Chevron gas card and I crashed and burned. My score is improving and I get the itch to apply for more credit. I violate one of the cardinal rules of maintaining your fico score. Do not apply for too much credit within a two year period.

All credit is not created equal. If you have a 600 score and apply for credit, you may get approved. A different person, with the same credit score, may apply for the same card and get denied. There must be some divine credit law somewhere to determine how two people with an identical score get approved or denied. I’ve heard to people better scores not get approved for credit. Others can be married and both not approved for the same credit account.

Today was a credit crash. Ok. Now, I tie my hands. No more new credit until I reach a 700 fico.

Here are the 6 parts of having great credit (repeated for me, I guess):

  • On time payment history (99%+)
  • Length of time with credit (9+ years)
  • Credit card utilization (< 30%)
  • Derogatory marks (none would be best)
  • Total accounts (21+)
  • Hard Inquiries (< 2) I need to stay away from applying for anymore new credit.

Talk to you soon,

Leona.

If you or someone you know is thinking of selling a home, or buying a home or investing in real estate contact me. I love referrals.

Leona@LeonaTurner.com

http://leonagreenlowturner.kw.com

www.facebook.com/BayAreaRealEstateToday

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