Quote:
Originally posted by delph998
I tell her that all of the time! She has no debt any more, but that stuff from the past is haunting her.
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If she no longer has any bad debt (outside of school loans/mortgage or car note) and has maintained regular on time payments her credit should not be bad. If she is being denied for credit she should get a copy of her report and go through it thoroughly and make sure it is correct and immeadiately request any incorrect items be removed.
Another item she should check on- if your sis has a bunch of credit cards that she isn't using (and has paid off) she needs to officially "close" a couple of accounts. Your score/debt ratio isn't only graded on just what you owe its on what debt you could possibly get into. So although all of her cards are paid off-if she is carrying a possible credit debt of say $20,000 (4 cards w/$5,000 limit) and she makes $40,000 a year she continue to be viewed as a risk because although the cards are clear now, if she decides to go on a shopping spree tomorrow she will be in debt for 50% of her income (not including her day to day expenses).
I got myself in trouble in the past, and once I got my act cleaned up had to carefully go through my report and remove items that were errantly placed on there. (Thats when I learned to remove past store cards that had long been paid off and not even used anymore). I was doing great maintaining my record until I lost my job...however my "recent years" of good credit is the only reason why they are cutting me any slack now [except for Dell, but I'll save that rant for another thread...good for nothing peice of crap
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And rainman...Victoria's Secret sells a lot more than drawers...but those twice a year clearance sales CAN rack up if one isn't careful
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