This sucks

[solocam_aggie]

I don’t think it hurts to pay it off. I pay mine off every month and my credit score was 835 this past September when I bought a new truck. I only have a Chase Visa rewards card and a gas card. Rarely use the gas card anymore but I never carry over a balance on either.

No, it doesnt hurt. I just thought I read somewhere that carrying a balance occasionally and making payments helps build the score faster.

I do the same as you on my cards with excellent credit. But I've been building mine since I graduated high school and have many other factors contributing to my score other than revolving accounts.


* Yeah, doing some research looks like thats not the case. So yes, pay it off full lol!

[BitBackShot]

Credit scores don't look at your assets, they only measure your ability to manage credit (via history). It's kind of crazy, because someone with a negative net worth that is levered to the hilt will have a higher credit score than someone that pays everything in cash and has a huge stockpile of assets.

Your foreclosure should no longer be impacting your score. I believe that's only a 7-year deal. You just haven't built up any demonstrated history.

As people have suggested, buy everything on a credit card but PAY IT OFF every month. You start missing payments are you're going to create a history, but not one you want. Other than that, you're just going to have to save up enough for the truck until you can get where you need to be.

[EastTexasMan]

I can't figure out why mine dropped from a 830 to 805 with just the same ole house, car, cc I've had forever.

[Traildust]

Go down to Ford....they'll put you in a brand new truck

[WalkieTalkie]

Tell the bank you want a $2500 CD secured loan to build credit. That’s about the only way other than a credit card that you will be able to build credit back after having a foreclosure on your report

Yes. You can borrow against what you have, secured in a CD, for only 1%. You can choose the term, 2,3,4 years etc and earn credit along the way

[WalkieTalkie]

The fact that its secured with a CD means that you will definitely get the loan. They might run a credit check to complete the app but your SS is mainly used for reporting purposes. Credit score will not effect you secured

[WalkieTalkie]

Pay your note for a year or two and you should be able to get gas cards, credit cards etc without a problem

[Pushbutton2]

Dont forget, there are plenty of folks that were handed things and opportunities and never have been in our situation. Its easy for them to talk crap when daddy or whoever set them up or they were born into the family business, ranch or whatever. Ignore them. But those of us that are on our own are a lot more understanding, we have been there.


Also, may be time to cut back on fun expenses for a while. Time to buckle down. ( IMO )

I was hoping to start building my credit back up.

I'm gun shy on credit cards as we racked up a substantial amount before we lost the house.
Unfortunately my father in law died, we used her part of his life insurance to pay those off. We decided that we would never again have any at all ever again period.

I should have clarified more better.
I bring home $535/week

My weekly expenses are
$150 Tithe
$150 Savings for bills. They all get Paid the 1st of the month
$150 Gas & Sunday lunch w/wife. I drive 90 miles round trip to work 5 dates a week

I used to spend $20-40 weekend on stuff. I've cut that out.

I've got $2,200 in my savings now.
If I use all of that than it throws my bill schedule off.
There's not enough to pay for the truck & cover TTL.

I know God will provide.
I'm 47 and don't have squat.
That eats at me on the inside.
Sorry for rambling and wasting y'all's time

[Pushbutton2]

Go down to Ford....they'll put you in a brand new truck

I should.
Just don't want that $500/ payment.

I think I'd have better luck @ Dallas Dodge
[emoji849][emoji849]

[BitBackShot]

Why are you tithing 30%? The Bible doesn't even suggest that.

[96ags]

CD secured loan

Yes. You can borrow against what you have, secured in a CD, for only 1%. You can choose the term, 2,3,4 years etc and earn credit along the way

This is by far the best answer posted so far.

[WItoTX]

Get a credit card and put your monthly expenses on it. PAY IT OFF IN FULL EVERY MONTH.

We do about $3k a month on our Southwest Airlines credit card. I already had great credit but my wife's was very poor (560ish) when we first got together. I added her to my credit card and it has helped her tremendously. Her score is in the mid-upper 700's currently.

This. End thread.

[Pushbutton2]

Why are you tithing 30%? The Bible doesn't even suggest that.

Me and my wife have our own bills were pay each month.

My wife doesn't believe in tithing.
Therefore since I'm the head of the house is my responsibility

[WItoTX]

Me and my wife have our own bills were pay each month.

My wife doesn't believe in tithing.
Therefore since I'm the head of the house is my responsibility

If cash is that hard up (I am a firm believer in cash only, but still have 2 credit cards for credit), you need to evaluate your tithe and Sunday lunch. Seems to me that's really your only discretionary spending. I would pray about that tithe, talk to the pastor, etc...usually they can provide guidance.

Good luck man, doing the right thing is rarely ever easy.

[DJM]

Is the truck a need or a want?

DJ