In my early 20s I had several charge offs on credit cards, which wrecked my credit from the start. I was still able to get Stafford loans for school, which I stopped paying on when the payments came due and I did not realize how easy it was to fix at the time. After paying off a truck from a small mom and pop lot, I lived virutally credit free for about 5 years. Some utility and medical collections that I let sit came and went. The only debt I had standing were student loans.
About three years ago, I decided to finally do something about getting my credit back in order. I participated in the loan rehabilitation program which allowed me to get my student loans out of default and off my credit report. I started writing letters about old collection accounts and getting them removed or worked out. I also purchased a truck at 18.5% interest and have been making the payments on time ever since. My FICO score was in the low 500s at that time. I also received two First Premiere credit cards, which I pay in full each month.
A year ago, I set a goal for myself that I wanted to buy my own house. I have a good job and would have no problem making the payments. I worked hard and continued to pay everything on time and built my score up to 689 at its highest point. Last month I finally closed on my new house.
After buying the house, I applied for and received a Capital One card. My score has dipped back down to about 660, which was expected with the acquisition of new credit.
So, my question is: Other than just waiting for my credit to mature and gradually raise my score, what can I do next? I pay my credit cards each month, so there is very small utilization. My student loans are in deferment because I am currently going back to school. I have debt payments other than the mortgage and the truck loan.
Just looking for some advice.
Thanks in advance.
