@Anonymous wrote:My score is a 626. It jumped up like 47 points when I paid down my credit card bill for Capital One. It has a balance of $20 (Limit $750) I have another credit card with a low balance.
I have an auto loan ($24K) which is in good standing, never late. The only "baddies" is my student loans $9k) but I am in the Rehabilitation program so they will be in good status on my report in about 6 months. I don't know what else to do to increase my score. I am looking to buy a home within the next 3 mths but my bank said I should avoid opening any other credit cards. I want my score to be at least a 680. I feel stuck? Any tips on increasing my score without any new accounts. Is a secured credit card considered a new account since I am using my own money? Will this work?
Thanks!
You can pick up some points by making sure one of your 2 cards reports a zero balance while the other reports a tiny balance (4% of the limit).
Don't open any new accounts at this juncture.
Yes a new secured card would be a new account.
If you could pay your auto loan down at an accelerated pace, it might or might not help some of your scores, depending on whether you trip any breakpoints.
Probably you should wait on applying for the mortgage until you're good with the student loans.
