Hello All
I am new to the forum but have spent some time trolling. There is such a wealth of information here and so much to learn. Thanks to all that post, advise, and encourage. 
Just starting the rebuilding process years after a messy divorse did a number on my credit. Hoping to qualify for an FHA loan someitme in the next year or so. No BK in my past but some baddies:
Defaulted student loan and I just starting the rehab process on (I realize I will have to finish rehab before I have any hope of getting a mortgage).
One CO Chase card $1043 from 3 years ago I am hoping to PFD (I realise this may be difficult) sometime in the next few months.
2 CO utilities (DTE and Consumers Energy) from about the same time I am also hoping to PFD.
Current scores from MYFico are EQU - 609, TU-614, EXP - 608
Current credit file I am realizing is thin and most likely needs some additions?
Auto loan with ALLY paid perfectly for 15 months.
Capital 1 Platinum card unsecured with $300 CL since November 2014 paid perfectly with less than 10% util
Question is this: I'm not sure what to add at this point?
Another Capital 1 card or is it better to diversify? Should I add a store card too? Getting fingerhut $600 preapprovals in the mail but would rather add a JC Penny or Victoria's secret card.
TIA for any any all suggestions!
@Anonymous wrote:Hello All
I am new to the forum but have spent some time trolling. There is such a wealth of information here and so much to learn. Thanks to all that post, advise, and encourage.
Just starting the rebuilding process years after a messy divorse did a number on my credit. Hoping to qualify for an FHA loan someitme in the next year or so. No BK in my past but some baddies:
Defaulted student loan and I just starting the rehab process on (I realize I will have to finish rehab before I have any hope of getting a mortgage).
One CO Chase card $1043 from 3 years ago I am hoping to PFD (I realise this may be difficult) sometime in the next few months.
2 CO utilities (DTE and Consumers Energy) from about the same time I am also hoping to PFD.
Current scores from MYFico are EQU - 609, TU-614, EXP - 608
Current credit file I am realizing is thin and most likely needs some additions?
Auto loan with ALLY paid perfectly for 15 months.
Capital 1 Platinum card unsecured with $300 CL since November 2014 paid perfectly with less than 10% util
Question is this: I'm not sure what to add at this point?
Another Capital 1 card or is it better to diversify? Should I add a store card too? Getting fingerhut $600 preapprovals in the mail but would rather add a JC Penny or Victoria's secret card.
TIA for any any all suggestions!
Diversity is a good idea so a non-cap 1 card would be better. Avoid store cards. Having more than one card should help your credit over time (I think at least 3 is ideal, but you can do quite well with two cards). You should post in the mortgage section before doing anything, because I think the consensus is that you should not be apping within a year of applying for a mortgage, .
;
I think one store card would be fine. Yes, having a ton of store cards with "toy" limits is not good for the long term, but while you're building a store card is fine especially if it's at a store where you shop frequently and can get good discounts/coupons for having the store card. If you want something else, 6-12 months (re) building history should get you in with Barclays (you can try for Rewards or the Apple Visa).
Paying those COs in the long run will help you on manual credit reviews if nothing else. Not sure about the utility COs but the Chase CO will be a hard PFD although paying it will eventually allow you back in their good graces and Chase has lots of good cards.
Quicksilver $10,000 | Better Balance Rewards $2000 | Sallie Mae $3500 | Freedom $3500