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Rebuilding My Credit Whats a Good Profile

Regular Contributor

Rebuilding My Credit Whats a Good Profile

Hi guys and gals...
 
Just recently came across this site and I have found it to be very useful and informative so far.  Like many others I am rebuilding my credit and I am starting with ficos 590-607.  Here are the open accounts I have right now
 
3 unsecured CC's with credit lines of 400, 500 and 400.
1 Revolving charge (newly opened with credit line of 1,700)
 
 
 
I have past derogatories and two liens that I am working to have removed.  My questions to you guys is should I look into opening some more accounts for my credit profile? What else should I be doing to reqbuild the credit aside from the obvious (disputing,paying on time, etc)
 
 
thanks for any input, i look forward to contributing around here too!
Starting Scores: 1/1/2016
EX 600 EQ 598 TU 610
Current Fico Scores (9/2016):EX: 674 EQ: 678 TU: 689
3 REPLIES
Frequent Contributor

Re: Rebuilding My Credit Whats a Good Profile

Do you have any Installment loans like a Student Loan or Car Loan?? You should have a good mix of installment as well as revolving accounts. I would not go over 4 revolving accounts IMO. Get the liens paid ASAP as those really kill a score and send out GW and/or PFD letters to help get that score up.
Regular Contributor

Re: Rebuilding My Credit Whats a Good Profile

one lien was paid in 2000 and should fall off next month, the other is a duplicate of the first and shouldnt even be on there.
 
Unfortunately no istallment loans at this time
Starting Scores: 1/1/2016
EX 600 EQ 598 TU 610
Current Fico Scores (9/2016):EX: 674 EQ: 678 TU: 689
Frequent Contributor

Re: Rebuilding My Credit Whats a Good Profile

Definately dispute the second duplicate lien and get it removed. Once the other lien falls off I would suggest going to a credit union and applying for a small signature loan for $1000 and pay it off over 24 months and possibly if your able to afford a car payment look to get an auto loan for a car. Also make sure you keep your CC utilization between 1-9% to get the most out of your FICO scores.