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Hope to buy a new car within the next year, hope to improve my credit


Elijah123
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Just as the title says within the next year I am hoping to get a loan for a new vehicle. I have a couple of issues on my credit report. I have one medical collection and I am hoping to use wychat's method to clean it off the report. The other items I have are some 30 day late payments on 2 open accounts. I have 3 30 day lates on my US Bank Mortgage and 3 on an open Chase account. They occurred during a period where I was transitioning from job to job in 2012. I have paid on time ever since on both, and my the balance is just about paid on the credit card.

 

I was thinking of sending a couple of goodwill letters, but is there something else I should do to help my situation?

 

Thanks,

 

Elijah123

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Good luck.

 

You might also consider saving $X per month for a year and just pay cash for the next car. You should still take the clean-up actions described, but then you'd have no car loan. :D

 

We did that with my wife's car. We are saving for the next vehicle, I am just hoping to avoid any expensive repairs to my current vehicle while we are putting money aside.

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Another random question, do you think it would be worth it to up my credit limit on the card. Currently $600 and I have $120 or so currently on the card. (Paying it off thursday when I get paid)

 

Yes, and keep utilization (reported balance on statements) very low, like $2.

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