Hi,
In college I had two credit cards and both had significant balances. When I moved I forgot to change my address with them, so both became delinquent.
I had previously changed my phone number but because I had never been late, neither company had occasion to contact me by phone either, so they had a hard time getting a hold of me to let me know the accounts were delinquent. Somehow the credit collection company got my new number and I settled both accounts immediately.
About 2 years ago I got approved for a standard Capital One Mastercard and have been paying the bills on time--almost always in full. Now, I applied today for another card. However, I wasn't approved for the card because of the previous delinquencies.
How long of on-time pay will have a substantial effect on my credit? When will I be approved for a different card that I might want?
applying for a new card
Hi Raanan,
Somehow the credit collection company got my new number and I settled both accounts immediately.
Check if the status of these accounts are reflecting "Paid as settled". If not, you should dispute these with the credit bureaus with proof of your payments. You can also try removing the negatives there on your credit report against these accounts, by sending Goodwill letters to the collection agencies.
As long as you make on-time payments your score is supposed to go on improving. However, this is not the case always as many factors are taken into account while calculating your credit score. There is no time limit too for score improvement. To get new credit card you need to have a good score, atleast above 700.
Thanks,
Aaron
new credit card
Hi Raanan,
Other than trying PFD and Goodwill processes to remove the negatives as suggested by Aaron, you can try disputing these negatives.
Thanks.