@mongstradamus wrote:
@dman23 wrote:
@keithB wrote:
@dman23 wrote:
@keithB wrote:Post what you got so far =)
Discover $1100
BarclayRewards card $1300Chase Freedom $3500
Looks nice, scores are good. How many HPs and with who? AMEX was Experian only for me but I see it's your lowest right now.
EQ and TU scores are highest but you should find out how many pulls each has first. Obviously gardening is best but that is also true for 90% of everyone. I guess it depends what you really want. If all your cards are relatively the same age, then down the road, you will have a higher AAoA when you add another. But on the other hand, getting another card will push you back about another 3 months in the garden.
Only you can answer what is best for you. A citi might look good in the mix but everyone says they a boring cards and I see you look like a rewards person from the cards you have.
Thanks Keith. Just got my Experian report and it's 700 now.
EX has 2 inquiries from Chase, Discover
EQ has 1 from Discover
TU has 1 from Barclays
I realized that getting another card will push me back a few months but that's why I was considering doing it now rather than later. Along with the auto loan that would give me 5 active accounts and I see in "Understanding Your Score" that high achievers have an average of 6 active accounts.
Funny enough I'm not a rewards person at all. I'll look into citi, why not. Boring is fine with me.
That should do it. The next thing will be a mortgage but that will be 1.5-2 years down the road. If it's sooner then that means I have a hefty down payment.
Citi AA two free round trips anywhere in the US in economy is nothing to sneeze at. You probably could get better value spending it on international flights but its not too shabby for very llittle spending.
You're not kidding. Nice scores for you.
Keith btw I'm looking to get a used vehicle (2012-2103) and have $20,000 as my limit. I don't want to owe that much so I was planning on putting $10,000 down. From a credit score/report I was thinking putting zero down or the minimum required. If it was zero down then I would have an original loan amount of $20,000 showing on my tradeline. Then I make my first payment $10,000 and my loan balance would be $10,000. The effect would be that the trade line would show that I have paid down 50% of my installment balance. Just pondering.
@dman23 wrote:
@mongstradamus wrote:
@dman23 wrote:
@keithB wrote:
@dman23 wrote:
@keithB wrote:Post what you got so far =)
Discover $1100
BarclayRewards card $1300Chase Freedom $3500
Looks nice, scores are good. How many HPs and with who? AMEX was Experian only for me but I see it's your lowest right now.
EQ and TU scores are highest but you should find out how many pulls each has first. Obviously gardening is best but that is also true for 90% of everyone. I guess it depends what you really want. If all your cards are relatively the same age, then down the road, you will have a higher AAoA when you add another. But on the other hand, getting another card will push you back about another 3 months in the garden.
Only you can answer what is best for you. A citi might look good in the mix but everyone says they a boring cards and I see you look like a rewards person from the cards you have.
Thanks Keith. Just got my Experian report and it's 700 now.
EX has 2 inquiries from Chase, Discover
EQ has 1 from Discover
TU has 1 from Barclays
I realized that getting another card will push me back a few months but that's why I was considering doing it now rather than later. Along with the auto loan that would give me 5 active accounts and I see in "Understanding Your Score" that high achievers have an average of 6 active accounts.
Funny enough I'm not a rewards person at all. I'll look into citi, why not. Boring is fine with me.
That should do it. The next thing will be a mortgage but that will be 1.5-2 years down the road. If it's sooner then that means I have a hefty down payment.
Citi AA two free round trips anywhere in the US in economy is nothing to sneeze at. You probably could get better value spending it on international flights but its not too shabby for very llittle spending.
You're not kidding. Nice scores for you.
Keith btw I'm looking to get a used vehicle (2012-2103) and have $20,000 as my limit. I don't want to owe that much so I was planning on putting $10,000 down. From a credit score/report I was thinking putting zero down or the minimum required. If it was zero down then I would have an original loan amount of $20,000 showing on my tradeline. Then I make my first payment $10,000 and my loan balance would be $10,000. The effect would be that the trade line would show that I have paid down 50% of my installment balance. Just pondering.
An installment loan will help your credit score in the long run. As for the amount, I think that would be something you should look at in relation to your income. When are you looking to get the vehicle? You need to take all this into account before a mortgage as all rules change when dealing with it.
Remember, on mortgages, they use a different scoring system so you want to have your score up there just in case it's off - and I'm told this number can be up to 70 points lower! For this reason, you might want to keep the car payments low or have it so you can pay off the vehicle early if your mortgage is in jeapordy.
But again this all is in relation to your income which I have know ideaso I might be just blowing hot air =)
@keithB wrote:
@dman23 wrote:
@mongstradamus wrote:
@dman23 wrote:
@keithB wrote:
@dman23 wrote:
@keithB wrote:Post what you got so far =)
Discover $1100
BarclayRewards card $1300Chase Freedom $3500
Looks nice, scores are good. How many HPs and with who? AMEX was Experian only for me but I see it's your lowest right now.
EQ and TU scores are highest but you should find out how many pulls each has first. Obviously gardening is best but that is also true for 90% of everyone. I guess it depends what you really want. If all your cards are relatively the same age, then down the road, you will have a higher AAoA when you add another. But on the other hand, getting another card will push you back about another 3 months in the garden.
Only you can answer what is best for you. A citi might look good in the mix but everyone says they a boring cards and I see you look like a rewards person from the cards you have.
Thanks Keith. Just got my Experian report and it's 700 now.
EX has 2 inquiries from Chase, Discover
EQ has 1 from Discover
TU has 1 from Barclays
I realized that getting another card will push me back a few months but that's why I was considering doing it now rather than later. Along with the auto loan that would give me 5 active accounts and I see in "Understanding Your Score" that high achievers have an average of 6 active accounts.
Funny enough I'm not a rewards person at all. I'll look into citi, why not. Boring is fine with me.
That should do it. The next thing will be a mortgage but that will be 1.5-2 years down the road. If it's sooner then that means I have a hefty down payment.
Citi AA two free round trips anywhere in the US in economy is nothing to sneeze at. You probably could get better value spending it on international flights but its not too shabby for very llittle spending.
You're not kidding. Nice scores for you.
Keith btw I'm looking to get a used vehicle (2012-2103) and have $20,000 as my limit. I don't want to owe that much so I was planning on putting $10,000 down. From a credit score/report I was thinking putting zero down or the minimum required. If it was zero down then I would have an original loan amount of $20,000 showing on my tradeline. Then I make my first payment $10,000 and my loan balance would be $10,000. The effect would be that the trade line would show that I have paid down 50% of my installment balance. Just pondering.
An installment loan will help your credit score in the long run. As for the amount, I think that would be something you should look at in relation to your income. When are you looking to get the vehicle? You need to take all this into account before a mortgage as all rules change when dealing with it.
Remember, on mortgages, they use a different scoring system so you want to have your score up there just in case it's off - and I'm told this number can be up to 70 points lower! For this reason, you might want to keep the car payments low or have it so you can pay off the vehicle early if your mortgage is in jeapordy.
But again this all is in relation to your income which I have know ideaso I might be just blowing hot air =)
Thanks for your fast replies.
Thanks for letting me know that for mortgages they use a different system. Before I apply for a mortgage this car loan will definitely be paid off. Right now I net $60,000.
I'm looking to get a vehicle in a couple of days.