Reply
New Member
Posts: 3
Registered: ‎01-28-2008
0

Will this be enough to bring my score back up? Concerned about lack of revolving credit.

[ Edited ]
I filed BK and it was discharged 7/06.  Looking to purchase a home 07/08 if possible so I have about 5 months to get this done.... 
 
The accounts I have open now are the following....
 
Mortgage (never been late)  Re-affirmed after BK
Revolving HELOC owe 9k/12k limit (never been late)    Re-affirmed after BK
Primary Auto Loan (had for about 8 months, never been late)
Second Auto Loan (had for about 3 months, never been late)
Kohls Credit Card $1500 limit/ owe $450 (late 30 days once 3-4 years ago)
 
The second auto loan was a small (3k) loan, and I will be paying that off this week.
 
I guess looking at the "credit mix" I have mortgage, installment, and revolving.  My concern is the Kohls is also getting paid off next week with the tax return. 
 
Should I continue to keep a small balance on that Kohls Card or is just having it good enough? 
 
My scores according to truecredit are TU 680, EQ 647 EX 666 right now, but not sure how close to FICO those will really be. 
 
I did not have any problems taking out either of the auto loans, but I have not applied for any other credit since the BK.  The Kohls was a $0 balance and not included in the BK.  I have had that account for 6-7 years.
 
Thanks!
 


Message Edited by Opie2222 on 01-30-2008 10:47 PM
Established Contributor
Posts: 951
Registered: ‎12-04-2007
0

Re: Will this be enough to bring my score back up? Concerned about lack of revolving credit.

If you are looking to refinance I wouldn't do anything.  The advice is nothing for at least 6 months prior but if you are not going to be making any big ticket purchases soon, then you might want to apply for a couple more credit cards, buy a tank of gas on them and then pif each month.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.