Military Credit Repair

L

Laura clark

Member
I just recently joined the Marine Corps and came in with a credit score of 608, mostly from some bad financial decisions in the past. It was fun at the time, but definitely not worth the damage it’s doing to me now. I have four credit cards two are maxed out, and one is probably going into collections since it’s already hit my credit.

During boot camp, the financial classes didn’t really teach me much, and now that I’ve reached MOS school, I’m trying to get a better handle on things. I’ve started looking into the SCRA, but I don’t have my orders with me since MOS school collected my record, and I’m also having trouble setting up MyPay.

For those with experience, what advice or tips would you recommend for getting my finances back on track while serving?
 
Man, I’ve been in the Army for 6 years and my credit was wrecked when I joined too. Biggest thing is don’t ignore the debt. Even if it’s $20 minimum payments, make them. It keeps your accounts alive and buys time. Also, pull your free credit report from annualcreditreport.com to see exactly where you stand.
 
Check out Navy Federal Credit Union. If you can get in, they’re pretty forgiving with military folks who messed up young. I started with them at a 580 score and 3 years later I was sitting at 720 with an auto loan approved at a solid rate.
 
If that card is about to go into collections, call the issuer and ask for a hardship program. Some will lower the interest rate or freeze payments temporarily. Way better than letting it go to collections and tank your score further.
 
I know the classes they give in boot are trash. They basically just say don’t buy a Dodge Charger at 24% APR. My advice: start with budgeting. Track every dollar, even the Monster energy drinks. You’d be surprised how much slips away.
 
SCRA is your friend, dude. If your debts were opened before enlistment, interest rates have to be capped at 6%. That alone can save you big money. Once you get your orders sorted, send copies to your creditors.
 
Not gonna lie, I ignored my credit until I needed to get off-base housing. Then the reality check hit hard. You’re doing the right thing early. Hit up a military financial counselor on base.....they’re free and can help set up a payoff plan.
 
Funny how they drill don’t get fat into us but not don’t drown in credit card debt. You’re not alone. Most young Marines I knew were in the same boat. Start snowballing.......pay off the smallest card first to feel momentum.
 
how much are you paying monthly on those cards? Sometimes balance transfer cards with promo APRs can buy you time, though with a 608 score that might be tough. But worth looking into if you can get one.
 
Honestly, the military sets people up to get preyed on by shady lenders outside the gate. Avoid them like the plague. Use your steady paycheck as a tool. Automate payments so you don’t forget while training.
 
There’s a program called Military OneSource that offers free financial counseling. They’re actually decent. Better than any random credit repair service trying to scam you.
 
Stop caring about the number so much right now. Focus on habits. Credit scores fix themselves if you pay on time and stop adding new debt. Don’t chase shortcuts.
 
Not gonna sugarcoat it if that card hits collections, your score’s gonna tank. But don’t panic. Even paid collections look better to lenders than unpaid ones. So if it does go, negotiate with the collector when you can.
 
This may sound weird, but check your LES when you get MyPay sorted. A lot of guys find random deductions they don’t even realize are happening. Clean that up, and you’ll have extra cash to throw at debt.
 
Empathy here, man. I joined Air Force at 19 with payday loan debt (don’t judge lol). It felt impossible but sticking to a budget and using SCRA helped. Took 3 years but now I’m in the 700s. It’s totally doable.
 
Bro just make sure your barracks room doesn’t look like a Best Buy showroom. I’ve seen dudes blow entire paychecks on TVs and gaming PCs while crying about credit card bills.
 
If you’ve got a buddy with good credit, ask about becoming an authorized user. That boosted me like 50 points once my uncle added me to his old Amex. Doesn’t fix everything but helps.
 
I used USAA’s secured credit card to rebuild after trashing my score. After a year of on-time payments, they bumped me to an unsecured card. Solid option if you need to rebuild responsibly.
 
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