Lost credit? I’m never late …?

Deal Score0

A year ago, I talked with Wells Fargo about a mortgage and was basically laughed. I ended up talking to someone else and got a loan and a house. Now, I opened a checking account with Wells Fargo and I did not know they would open a credit card for me. Well, it was refused and I am so angry! The personal banker I spoke, a woman was talking quickly and I have several (credit cards, etc.) accounts opened last year and is now trying to pay attention any more loan applications. ARGH! I am divorced and I have $ 6000 + on a credit card to pay and I’m opening for my credit card accounts (requires appliances, furniture), my own insurance policies, conditions work, etc., why so many requests. I paid in full and now more than $ 3,000 on my card and equipment $ 1,700 paid for my card furniture last year. I am planning (hoping) the rehabilitation of the rest of the little things until the end of the year, leaving $ 6,000 for a credit card and $ 3,000 on a anderen.Vor recently, I decided my house with the hope of buying a new sale. After selling basin plan with my parents until I find a new place. But this last denial, I’m damned? Or is Wells Fargo a hard body, through loans, etc.? Thank you for your help!

  1. Reply
    January 25, 2011 at 11:58 am

    doomed no but since you have owned such a small time you may be bringing cash to close as selling isn’t any cheaper than buying

  2. Reply
    Sgt Big Red
    January 25, 2011 at 12:29 pm

    Well you are not doomed, let us say “in need of rest”. All those credit inquiries are going to hurt your score. They remain on your credit report for 2 years.

    You also need to get those balances down to no more then 30% of your total credit line. Example: if your total available credit line is $ 10,000 then you should not owe any more then $ 3000 (less is even better.)

    Do not apply any more and pay off as much as you can to get those balances lowered. If you can sell your house and either break even or have some equity left over, bite the bullet and move in with your parents for a short time and pay down your debts.

    What ever you do, do not short sell the house, this is just as bad as a foreclosure and will hurt your credit immensely. The effect of a short sale on a seller’s credit report is identical to that of a foreclosure. The ding on credit will show up as a pre-foreclosure in redemption status, which will result in a loss of 200 to 300 points. This means a short sale with a previous FICO of 720 will see it fall in a range of from 520 to 420.

  3. Reply
    george k
    January 25, 2011 at 12:56 pm

    Probably you have some wrong items in your credit report. Use credit repair service to find and remove such bad stuff from your credit – credit-report-free.totalh.com

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