Hi new to the board seeking for possible advice and thoughts
general background about myself:
25 y/o making 40k + / yr.
had a good credit run for a while but lost it all almost $30k or perhaps more mostly on Online Poker.
Havent been able to settle the debt ever since. Only to have it turnover to collections to get a bad rep on CR.
But with a new day rises a new hope, thinking perhaps I can capitalize from my mistakes, I want to start a new Credit & Spending habit and make my way the CR profile.
Score of 550 ( V Poor) acc/ to Credit Karma.
I was in the chexsystems only to able to get a bank account late last year and found and applied to have a secured card of $500 limit from the bank, which I didnt really care to pay off the balance fully till now when I found out that it hurts not to pay the balance in full.
I thought if using the card as much as possible and paying more than the minimum and keeping the card in good standing should be alright but to my knowledge I was wrong.
For 2014, I plan on applying for a Citi Secured Card as well as a Capital one Secured card. also, im planning on calling my current card company to see if they can process me from secured to unsecured line of credit if not I would just increase the amount by doubling the deposit.
Also, all my collections are getting charged off after a couple of years I don't what to do should I hold off till it gets off or should I try and pay off whatever I can.
Just don't want to have so much negativity on my Credit profile and want to up my score from 550 to at least 700+ range.
So fellow members please help.. thanks!!!