Credit Cards Center Credit cards from our partners
Reply
New Contributor
Posts: 164
Registered: ‎04-16-2013
0

Fresh start...unfortunately.

I just returned to the USA after living/working over in China for the last 8 years.  My credit history is completely gone Smiley Sad  I'm really kicking myself for closing my CC accounts, but at the time, I really didn't realize how much it mattered to keep them open.  It was such a pain to transfer money back to the USA to pay the bill if I used them.

 

The day after returning, I went to Wells Fargo and opened a checking/savings as well as a secured Visa (soft pull).  Last week I checked the "checkout" trick for Victoria's Secret and Brylane and was pre-approved for both.  VS 750 and Bry 500.  I have no intention of keeping a balance on any of the cards, as I really learned to love China's cash society way of living.

 

My goal is to get a mortgage in about a year if possible.  Any suggestions as to how to best proceed with building my credit file would be appreciated.


Highlighted
Moderator Emeritus
Posts: 7,225
Registered: ‎09-16-2011
0

Re: Fresh start...unfortunately.

Hi there!

 

Welcome to MyFico Forums!

 

The great news is that it is much easier to Build Credit than it is to Rebuild Credit!

 

You are on the right track. 

My best advice for you would be to stop applying for new credit, and Garden what you've already planted.  You can check out the Garden Club and make friends of similar interests!

 

 

I see that you are looking at the possibility of a mortgage in the future... since that is the case, I highly recommend that you check out the MyFico Mortgage Loan forum.

 

Below is a short list of helpful mortgage loan related links that may help you prepare for the process:

Guide to Common Abbreviations - Barry


Mortgage Acronyms & Abbreviations (what does PITI mean?) - ShanetheMortgageMan

Good Faith Estimates Explained - ShanetheMortgageMan

The Mortgage Pre-Approval Process - ShanetheMortgageMan

Evaluating Conventional vs. FHA (VA & USDA)- ShanetheMortgageMan

Definately feel free to post any questions you have about DTI and Pre-Approval Odds over there!  In addition, you may qualify for downpayment assistance as well as other programs to help you get into a new home!

 

Again, Welcome to the MyFICO Community Forum!

Hope all is well on your journey to homeownership here in the US


Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



Take the myFICO Fitness Challenge
New Contributor
Posts: 164
Registered: ‎04-16-2013
0

Re: Fresh start...unfortunately.

Thanks for the welcome and advice Smiley Happy


Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

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. 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.