As of today, I just paid off all 3 of my credit cards!

[Inquisitiveone]

Now here comes the interesting part, I need tips on what to do next. Does anyone know how long it takes to update the C/B's? What can I do to increase my score more? According to the simulators with My Fico my median will be 602. I want to get a new car in a few months after I move, but in terms of cards/ loans...should I wait till after the car purchase or apply for one or two now? 

Thanks for your help!!

[Anonymous]

to get awesome rates 660 or was it 680 is  good at BMW. with 2.9 -3.9 APR. Other factors are also considered. Just an example. I would suggest save your money for a down payment / insurance if you don't have any. Let your score go up a little. Banks usually report 2-5 days after closing date of your billing period. Anyway, you could get a car but try and buy new. Used cars, they try to make you pay 7-10+- % APR and jack up the price of what the car is truly worth. Always check truecar and kellybluebook. When you go to the dealer don't let them pull your score until you settle a price because they will make you feel like you need to buy the car and give you a super hiked price. Don't be afraid to walk out. They will call you back the next day or stop you to get the sale There might be car salesman on this site that can give you the skeming tactics 

Well kidding in some of that but ya, GL and let us know how it goes.

[takeshi74]

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@Inquisitiveone wrote:

Does anyone know how long it takes to update the C/B's?

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Depends on when your accounts report.  Add a few business days to that for the CRA's to update.

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@Inquisitiveone wrote:

What can I do to increase my score more?

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You'd need to give us a better idea of your credit profile.  If you have derogs, those tend to have a significant impact.

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@Inquisitiveone wrote:

I want to get a new car in a few months after I move, but in terms of cards/ loans...should I wait till after the car purchase or apply for one or two now? 

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The car is a the big ticket item.  Most people want the best possible terms on auto loans, mortgages, etc.  Therefore, if you want to avoid impact from new accounts then apply for cards after the auto loan is finalized.

[Inquisitiveone]

Takeshi74, 

So with regard to my scores they are in the high 500's almost 600. I was reading that I need to apply for more accounts and in reading some of the comments here I see that many folks have a plethora of charge accounts. 

In terms of the car or rather SUV I was looking at a loan from 25k to 30ki with a down payment of about 10K in May. 

Any information or advice you can give will be most helpful. 

Thanks! 

[Inquisitiveone]

For sure I will. I do have some old derogatories on my CB reports. I have a company working on the old stuff. One bill that I will be paying the offered discount on. The biggest thing I am concerned about is getting my credit utillization down to less than 30% of my overall credit. I am super excited about whats to come. I am so close to the 600's I have already started getting prequalification letters from Conn's Furniture credit. I think they are offering 2K. I have to look at the rates to see if it is worth it. If not I will look up Nebraska Furniture Mart or Rooms to go. I am moving in about 45 days (from the date of this) and just getting my ducks in a row. 

Quick queston for you: What score were you at when you go approved for the Amex Blue? 

Thanks! 

[Anonymous]

Your title indicates you have 3 cards, that is all you need to maximize your score. Make sure 1 reports with a small balance. You should see your score go up.

As for more cards, wait until you purchase your car. Work to get your scores as high as possible to get better rates. I'd head over to the auto loan forum and see which lenders they suggest you try and get pre-approved with based on your profile. Above all, don't let an auto dealership shotgun your information out, all those inquiries are usually a killer.