02-03-2013 03:19 PM - edited 02-03-2013 08:07 PM
Hi everyone, nice to learn each day from you guys, this is my first post, rebuilding after a long wait for all this years, I was in dec 10 , EX 566, EQ 568, TU 566, January 31, EX 566, EQ 665, TU 572, but FICO EQ 620, TU 588, hope in second round EX and Tu go up, but is really exciting, I read this place so much, I was working just in cash, never care about my credit for the last 10 years, now is different, want a car soon, about 18,000.00 and I think a house in less than a year, hope 8 months, no Credit Cards for now, need to ask if is better to get a car loan or CC first, what is better and easier, Thanks.
02-03-2013 07:06 PM - edited 02-03-2013 07:13 PM
If it were me, I'd get a few different cards first and then get the car, but only apply for cards you are pretty sure you will get approved for. With your credit as it is now I'm pretty sure you will need a decent amount down. I would take a part of that and get a secured credit card if you get declined for an unsecured card or think you might. Also get a wal mart card for the free transunion Fico score.
You should get a score bump after a month or two of halving some cards. Keep one at 0 percent balance(but use it a little to help with future cli's(walmart/GE) and let the other one report at ~9%
If you can't wait a few months then you can always just refinance after establishing your credit more, but you will most likely have to put more money down than if you first raised your score with credit cards.
02-03-2013 07:19 PM
Hi everyone, nice to learn each day from you gays, this is my first post, rebuilding after a long wait for all this years, I was in dec 10 , EX 566, EQ 568, TU 566, January 31, EX 566, EQ 665, TU 572, but FICO EQ 620, TU 588, hope in second round EX and Tu go up, but is really exciting, I read this place so much, I was working just in cash, never care about my credit for the last 10 years, now is different, want a car soon, about 18,000.00 and I think a house in less than a year, hope 8 months, no Credit Cards for now, need to ask if is better to get a car loan or CC first, what is better and easier, Thanks.
If you have not used credit in 10 years what is on your credit?
What is still on your credit and what credit cards or auto/home loans did you not pay before?
02-03-2013 07:27 PM
Thanks Robert , very good about the wallmart card, ill do it,I just applied Friday for a secured card, declined, have some problems because I don't have settle my home place yet , have to move after Sandy throw me out here in NY, 12'' of water, confirmation for residential address and land line phone plus my license got a old address from 6 years ago, hope fix all this soon, but I need to get a auto really soon, was thinking wait a month to see what happen with new disputes and get a loan, and refinance later . Thanks again
02-03-2013 07:38 PM
I got some small collections, negatives close, paid mortgage loan, I lot of late payments, oldest account 16 years, got 3 judgments. 8 years ago I destroy all credit cards, like ten , in hands of my ex , to many bills, hate that, LOL time to start again, but with good steps.
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