Ok so I'm working on my dh credit report as I posted in other threads and I'm stuck as to what I need to do next in conjuction with paying off collections and bring down util on card.
DH has only 2 installment accounts (auto) in good standing. One is 2 years old, the other only 7 months old. In addition he has 1 bank card with a cu that his maxed out (we're working to bring this down) but paying on time.
He has 4 collections, 1 repo, 1 charge off.
Question: In order to be able to build enough history in time for the purchase of our first house next spring, should he apply for a new revolving card in order for him to have at least 2 cc's?
His scores as of 7/19/08 are:
EQ: 581; EX: 584; TU: 604
Hard Inqs: (7) in 2007 mostly from trying to find a bank for his car loan and mortgage banks; (1) in 2008 so far
I haven't pulled recent scores because nothing has changed except for TU deleting a very recent collection but we did get our free reports online so i know nothing has changed in the other 2.
Does he even stand a chance at being approved? If so, I was hoping someone could tell me if a chevron gas card would work or if i should try for another one? I don't want to add him as AU on my cards because my history stinks but I've never paid late.
Thoughts anyone?