I've been reading this forum for the last 2 weeks and decided to ask all of you for advice.
My situation: Scores: TU=612, EX=573, EQ=612.
3 judgements: 1 eviction settlement (falls off Oct. 2008),
1 car insurance settlement (falls off Feb. 2010),
1 Discover card settlement (falls off Nov. 2012),
3 collections:1 old medical bill ($180, falls off July 2009) which I
have VOD'd CMRR & disputed online but came back validated
by the CRAs,
1 electricity account that is paid, and one cable bill
that I disputed and is listed as "consumer disagrees."
I currently have no ccs and no open accounts. My goal is to buy a house in the next 3 yrs. and get a new (or used) vehicle sometime soon. My new job pays about $13,000 more per year so I plan on living at the same income and using the new money to straighten out my finances and improve my credit.
I plan on getting a secured card w/ low limit first. Should I get more than one? I'd also like to get a card just to pay gas but don't think I will qualify right now. I was thinking I would get a secured or several secured cards, then let that help my scores until spring of next year. I will have been able to save up for a nice car downpayment by then and think my credit would have improved. Adding my car loan payments to the score it should improve even more. then by middle of 2009 should I be in a good position to pre-qualify for a mortgage? Or should I be able to get one soon after getting a new car without awful interest rates? Any thoughts on my strategy??