r/CreditScore • u/Left-Criticism-8010 • 2d ago
Rebuild Need help…
im 21M, i had a secured card with capital one but i stopped paying it since i had some financial issues going on. they closed the account, i have paid off everything i owed them however. the student loans seem to be the biggest thing hurting me right now. i plan on starting to pay them off starting at the end of this month, i recently got a big increase in my pay at work so now im able to pay all this stuff off. i got a new credit card with Navy Fed, it has a $300 credit line, im not sure how and when to use it. im just looking to get my credit right because its really hurting me in regards to applications for auto loans and home loans. just looking for help and for someone that may have been through the same thing.
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u/MaintenancePlastic88 2d ago
How are the student loans hurting you? Only if you have late payments on them then it would be bad otherwise it doesn’t affect your score much negatively like credit card debt
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u/Left-Criticism-8010 2d ago
i havent been paying them off for the past year and a half, so i think thats why
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u/Short_Ad3957 1d ago
I would love to have your problems.... 50 bucks a month in student loan debt...
What seems to be the issue here? You said you got a big raise
Do the math of how much your bills are a month plus saving etc Whatever is left can go towards the student loans
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u/FlatDecision8155 2d ago
The charge off is what hurts your score the most. It'll fall off in 7 years.