I have been working on improing my credit since February this year. A little back-info: right out of high school I was sent many credit card offers and accepted every one; never paid them off. Had cell phone services, loans, etc. which also went to collections. This was about 8 years ago so alot has dropped off, but there are still several negatives on my credit.
On the positive side, I do have one paid off loan, one paid/closed credit account, and four current lines of credit (all opened this year between February and September) which I pay in full every month and try to stay under 30% utilization. Doing this the past 7 months I have brough my score up about 60 points, but it’s still considerably low. I feel like the next step is to tackle each negative, one at a time, and see if it can be removed or negotiated down to a settlement pay-off amount.
(There are also some accounts on my credit which I was unaware of, including TWO T-Mobiles opened last year, though I’ve been with Verizon for years now; T-Mobile doesn’t even get reception where I live so it wouldn’t even make sense for me to apply with them, let alone open two accounts.)
Is this a good next step to take? How did/are you guys going about rebuilding? Please no abbreviations in your reply, I’m new to all this and don’t know what they mean.