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User Stats

1
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Matthew Brouillard
  • Clarks Summit, PA
0
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1
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*Credit Score* my credit score needs work

Matthew Brouillard
  • Clarks Summit, PA
Posted Aug 29 2019, 08:09

*Credit Score* I just have a quick question, my credit score is around 570 looking on credit karma. But I don't have any loans or credit cards, what credit cards would you suggest in getting starting out? unsecured card preferred, and I would like to work with a bank as well. I want to be in good relations with a bank so I can use them in the Future! Thank you for taking your time to answer!

User Stats

204
Posts
99
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Martin Vehlow
  • Real Estate Agent
  • Wauconda, IL
99
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204
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Martin Vehlow
  • Real Estate Agent
  • Wauconda, IL
Replied Aug 29 2019, 17:59

More than just credit cards affect your score, this article explains it pretty well: 
https://www.entrepreneur.com/article/168290

Perhaps a local bank or credit union would be a good option for you to establish a working relationship?

User Stats

532
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466
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Craig Jeppesen
  • Rental Property Investor
  • Chubbuck, ID
466
Votes |
532
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Craig Jeppesen
  • Rental Property Investor
  • Chubbuck, ID
Replied Aug 29 2019, 18:11

Why is your score low? Somethings can fix your credit real quick like paying a collection acct. others will take years like late payments, repos, and bk.

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89
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81
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Donald Robers
  • Kenosha, WI
81
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89
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Donald Robers
  • Kenosha, WI
Replied Aug 30 2019, 07:19

@Matthew Brouillard  - I agree with @Martin Vehlow that a good 1st step would be to shop local financial institutions.  Also, if you are on Credit Karma you will notice that they suggest cards for you to apply for and estimate your chance of success.

Just be aware that those Credit Karma scores should be taken with a grain of salt (  or a groan of exasperation).  They are notoriously imprecise.

User Stats

5
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4
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Courtney Cain
  • Rental Property Investor
  • Washington, DC
4
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5
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Courtney Cain
  • Rental Property Investor
  • Washington, DC
Replied Aug 30 2019, 07:27

@Matthew Brouillard credit karma is not your actual FICO score that lenders will use when evaluating your creditworthiness. If you want your accurate score, you have to go to each bureau’s website and pay for your scores, Experian, Equifax and transunion. Your real score may not be that low. The biggest part of your score is payment history so are you paying your debts on time? Your reports may have inaccuracies so check all three to make sure the info they are reporting is correct.