Help! I need 14 points

[itzateach]

to get to a 660 middle score (646 Equifax) and get the best interest rate out there on my new mortgage. I am right now 681 (TU) and 639 (experian). I have nothing to remove from my credit other than some lates from a few years ago, but I have disputed them and they would not remove. I have 2 capital one credit cards (both 750 limit)....paid them down to 0 and 10 dollars and score went up a little. I have one auto loan. My loan officer told me to get a secured credit card for 300.00 and use it...hoping to get those 14 points...but when you add new credit, doesnt' your score go down??? Is there any other way to get those 14 points? I have two months...we moved closing (I am under contract) to June 30th.

Any advice would be awesome!

[meehan22]

applying for new credit will cause add a hard inq and a drop in your AAOA. Will take a few months to see positive growth after adding new credit.
I think if you keep using your cards and making sure they report at 0 its possible in a couple months time you will gain them 14 points, maybe. 

[blunderer]

Instead of taking a HP for new credit maybe hit the credit limit increase on both of your Cap One accounts. It's a SP and it usually states that and Cap One typically update new limits to the credit report a few days after the statement cuts.  The increase in available credit usually helps scores increase, not sure if it'll be the total 14 points you need but the score should go up some.

[itzateach]

I just got an increase...I am sure that's why I got a new boost....

[asdp15]

Do you have a loved one with an older credit card , high limit with low utilization. If you do ask them if they can add you as an authorized user..make sure that the lender does in fact report authorized users and make sure the card never had any lates... This should give you a pretty nice boost and best part its usually done immediately so you don't have to wait 30 days.

[Juss11]

Go to the credit card form for this site. There is post that show you how to get a credit card with soft pull. It works cause I did it. Community bank cards, like victory secerets etc only do SP.  Will still lower your AAOA but you wont get a HP. They have the Sportsman Guide Visa, I was pre-aproved for that & with in a few weeks they were reprting.If yu try it make sure you follow directions, cuase your trying to get a pop up that says your pre-aproved. Good luck

[itzateach]

Ok..they used an OLD credit report from February so I got NO hit for the pull. Also Capital One just gave me an increase last month, so I can't get another one. My lender WILL NOT let me do the authorized user thing....they take it off They had me do 2 things....sign an OPT out for all soft pulls to my credit...said this usually gives points. Not sure many people know about it??? https://www.optoutprescreen.com/?rf=t  and then they had me apply for a secured card...told me to use it and pay it down to 10 before the end of the month. I have 2 months to get those points to 660 to lower my interest rate and get a better loan!! UGH

[Juss11]

Yeah if you opt out you wont get any soft pulls

[fishbjc]

Beg often for higher limits on existing cards. 

[klondike]

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@blunderer wrote:

Instead of taking a HP for new credit maybe hit the credit limit increase on both of your Cap One accounts. It's a SP and it usually states that and Cap One typically update new limits to the credit report a few days after the statement cuts.  The increase in available credit usually helps scores increase, not sure if it'll be the total 14 points you need but the score should go up some.

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Credit increase is not a soft pull.