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How can I get my name removed from Chex Systems?

I am rebuilding my credit and i don't know what to do to get approved...:(?

  • I am trying to clean up my credit and raise my score but I'm stuck. I didn't have much debt to begin with. I've paid off some of my collection account and enough time has lapsed and all discrepancies have been removed from all three credit reports. I have absolutely nothing on my credit report except for 2 inquiries. My equifax is 652, Experian-625 and Transunion says that I have nothing in my file to generate a credit score so it just shows and exclamation mark. I went out on a limb and applied for a Best Buy credit card (because I read that they are pretty easy to acquire)...obviously not because I was declined. It said that they pulled the Transunion report and because I have no score I'm thinking that's why they denied me. I do have 1 report on Chex systems that is almost 2 yrs old and the account has the status of paid. I'm scared to apply for anymore but I have to do something! Any suggestions on how to start rebuilding and raising my credit score without continuously applying for credit cards and taking the hard hits on my report. Help! I'm so sad and frustrated....:(

  • Answer:

    Consider a secured card. With this kind of card you put $200 to $500 into an account and you get a card to use against the funds. Replace the money in full each month. No games of carrying balances. Citi, Orchard, and Discover offer good ones - compare them. Only do this if you have your 6 months emergency savings in place. In 2010 only 10% of these cards "turned" into credit cards. People had no savings and one emergency turned things upside down. You can lose a job, have medical not covered by insurance, or have major car repairs. Make that emergency savings account your #1 priority.

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What is the urgency? Is there some sort of emergency requiring you to have credit NOW? Best to wait six months and let the heat die down.

Ed Fox

. Best cheapest way to establish credit is a secured bank loan pay off over 7 months and repeat until you can get an unsecured one. Getting a CC to start your file is stupid

Calvin C

Get a secured credit card and use that to build a history of paying on time. This is where you put up a deposit and your credit limit is equal to that. For example, you put up a $300 deposit and you get a credit limit equal to $300. In general, most people can get this type of card. Strangely enough, you can also be declined for these cards too even though the bank has zero risk. http://credit.about.com/od/creditcardbasics/a/proconsecured.htm http://www.youtube.com/watch?v=Pq0BEmEXMaw&feature=related

CatDad

The type of credit mix and length of time you have been using credit are also deciding factors in your FICO score. If you have all revolving credit card debt and no installment loan history, for example, this could be part of the issue. A lot goes into your credit score, and it would be worth looking at the other criteria to help build your score. It is possible to dispute inquiries that are unauthorized, my doctor was able to gain 20 points on his score that way. You could also consider a performance based credit repair company, where you don't pay unless your score increases. Good luck Andrew W., Certified Debt Specialist www.mydebtguy.us

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