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What do I need (if anything)?

Regular Contributor

What do I need (if anything)?

I have the following cards all with zero balances right now as I PIF each month:

 

JCP $700

Orchard Bank $300

Capital Bank (Open Sky) SECURED $700

Personal loan at credit union $400+ left on $1000 credit builder loan

Student loan payments ontime and pay more than due

Honda Finance pay ontime and more than due

 

I am about to apply for a mortage in a couple months and want to bring up my score even more. Should I add another secured card?  Should I just sit tight until after the processing?  I just want to bring up my score if I can. I have the minimum 640 (mid score) required for the FHA.  

 

What do you think?

Amex Green Amex Gold Delta Rewards Discover IT CU Rewards Visa Closed on my new home 5/2013!

Message 1 of 5
4 REPLIES
Valued Contributor

Re: What do I need (if anything)?

3 cards should be good enough! instead of applying for a new secured card, I would add more money into your current one to show higher tradelines! it's better to remain as inquiry and new account free from this point on as possible before your mortgage Smiley Happy best of luck!


Quicksilver WMC $20k | JCPenney Platinum $10k | Drive for Five $800 | Freedom VS $5k | TD Cash VS $5k | CFU VS $14.8k | Blue Sky $13.7k | IT $28k | SavingStar $14.8k | BCE $11.3k | Macy's AMEX $7.2k | BuyPower WEMC $7.5k | CSR VI $13.3k | Diamond Preferred $6.5k FICOS: EX 775 EQ 764 TU 759 VantageScore 3.0: EX 759 EQ 757 TU 762
Message 2 of 5
Established Contributor

Re: What do I need (if anything)?

Open an mortgage they don't want to see open any trade line in 6 months. Your credit score low because you have short credit history. Or maybe your credit card did not update informationt lately . You have to pull all 3 report let see if they reported right.

10/2012 Started with 588 EQ Fico score and 20+ CA and CO
1750$ total CL
10/2013 in 700 Club
Personal :Total CL 196K
Business : Total CL 200K
Business LOC : 1M
Garden From 10/13/2013
Message 3 of 5
Valued Contributor

Re: What do I need (if anything)?

this post would be better suited for the mortgage loan section but anyways

 

is your current score current? 

aaoa? 

any baddies? 

your honda finance what is that? like the amount 

paying more sadly does not do much besides lowering util which counts less on an installment loan vs revolving. 

 

Current: Discover Fico 709 3/15 Walmart Fico 743 4/15

Inquiries (24 Months): EQ 6 TU 1 EX 6 | Most Recent: 4/09/2015
Over 12 Months:9


2015 Goals:
Lower Utility
Earn Cash Back

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$7,400
Citi DC $10,000
Citizens Mastercard$7,000
Message 4 of 5
Highlighted
Established Contributor

Re: What do I need (if anything)?

Look at that picture . I guess less than 1 year AAOA,Honda finance seem like couple months. With all that credit card . And credit score and he said PIF each month. Then AAOA less than 1 year

10/2012 Started with 588 EQ Fico score and 20+ CA and CO
1750$ total CL
10/2013 in 700 Club
Personal :Total CL 196K
Business : Total CL 200K
Business LOC : 1M
Garden From 10/13/2013
Message 5 of 5