What Next

[Cognac]

First of all I want to say thanks to some of the rockstars on here who have given me AWESOME advice.

I will be applying for a small biz loan late next year and want to increase my credit score.  Should I open a new account or pay down the balances on my current accounts?

All of my current bankcards are subprime and TrueCredit says I should open a prime account (what good prime accounts take high 600 FICO score).

However I dont know if if that is the right course of action as I dont want to ding my precious 689 FICO now.

FAKO

TU 731

EX 698

EQ 634

FICO

EQ 689

Any advice would be great...

[Anonymous]

What do you have? I would better deal if possible for APRs fees and the like.  But I would do nothing much within 6 mos of taking on new debt such as the one you are talking about.  Indicates stability.  You can always try Wamu but what baddies do you have?  With your scores you may qual for the Amex Delta Sky miles with a quick conversion to the Blue or Blue cash.  That is as long as no BK is involved.  The trouble with Amex is that you MUST walk on eggshells.  not only with your credt with them but anyone else.  Well lets just sa you must practice VERY responsible creditmanagement so I wouldn't g there jsut beore opening new credit unless you are sure it will not report on your personal history.

[Cognac]

Somebody responded to me!!!  It was lonely...

I will not be applying for the loan until Sept of next year.  Here is the dirt:

Baddies:

UNVL/CITI: closed by grantor: Date Reported 12/01

DISCOVER: closed by grantor: Date Reported 5/03

Honda Finance: car paid off : 30 day late 6/06

One Huge Student Loan: 34K: No lates, just think it is pulling down my score.

Card (total utilization at 38%)

1st Premier

Applied

Household Bank

[Anonymous]

You can try WaMu or Juniper.  Just remember to only apply for one Juniper card.... Right now you'll probably get the 10 day message cause they are straightening out a glitch in the system.  Is your utilization pretty low? Below 30% overall and below 85 on any card? If not I would get those down before applying anywhere.

Sorry you were lonely.  I've been running around the net peeking in on other folks' business

[Cognac]

OK.. total utilization is at 38%.  and not above 45% for any one card.

I will wait until they are down before I apply for anything.

Thanks!

[Anonymous]

Even at tht uti, you may qualify for WaMu and Junny.  However, with the baddies Iwoudl give them the most pristine current snapshot I could.