Sunday, November 14, 2010

Credit Questions... & Dell Preferred Account?

1. I have a car loan dated back to 10/08 that I am current on; that is the extent of my credit. I have no credit cards, etc.

2. I used to have a Verizon individual cell phone plan in '09 before switching to a family plan. I was unaware that there was a balance on my individual cell plan; and figured that they would forward any balance to the family plan anyway, but that did not happen. Instead, the balance (which was $27.00) was forwarded to a collection agency; and I paid the balance off the day after it was forwarded.

My questions:

Is there any way to have this ';adverse account'; deleted from my credit report? It was paid in full only 1 day after being sent to collection. What are my options? Will this adverse account hurt my chances of being approved for a store credit card? (See below)

Also, I have only been building credit since 10/08 with my personal loan (car). Will this line of credit, keeping in mind the above ';adverse account'; be OK to open a Dell Preferred Account? I am new to credit and credit building, and have heard that a credit inquiry (i.e., Dell Preferred Account) is considered a hard hit and will lower your score... so I am trying to get a feel for whether I would be approved or not.

Secondly, I am considering getting a credit card at the end of the summer to help pay for college textbooks, etc. Would this be ill-advised if I will be opening a Dell Preferred Account soon (that is, if I'm accepted)? I was thinking maybe two ';hard hits'; in a span of a summer would be too harsh on my current score... in which case, how long should I wait until I can apply for said credit card (with the presumption that I'm current on everything)?

Please advise :o). Thanks very much!Credit Questions... %26amp; Dell Preferred Account?
I have met similiar problem before, here list of sites Questions... %26amp; Dell Preferred Account?
Since you have already paid the $27 collection account, I highly doubt they will delete it. You could ask, but since they have their money, there is no incentive to do much for you, and they could argue it IS accurate since you didn't pay the account until it went to collections.

As for getting more credit, how old are you? If you are under 21, it might be harder for you to get new credit. Mainly because you would have to prove income or have a cosigner due to the law that went into effect last February.

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