Hi All,
In January I had a family emergency that caused me to be 30 days late on 3 of my accounts. I have 14 open the rest are all paid as agreed and my AAoA is 6 years with no lates at all until January.. Needless to say it tanked scores. I came into some money last month so I paid off all accounts and they are begining to report paid off balances and raise my scores. I was around 710 when they tanked and when I checked FICO's today I am at 664, 668, and 645. The lowest score does not have the latest reported yet. I have 4 more to report and I am paying off my Amex on the 28th which is my largest credit line and has the highest utilization. When all cards finish reporting more my utilization will go from over 55% to less than 1% as I will let my DC report a 19.99 balance for my gym every month. I hoping once all the cards report I will get some more bump up of scores. The next step will be GW letters to the 3 accounts as I have almost 10 year credit history with them with only one 30 day late ever on these accounts.
After that history I have a question about installment loans. I do not have a mortage as I inherited my house and my last car loan finished about 5 years ago. My car is doing well and doesn't have a ton of miles so Im not looking to change cars for about 2 years at the earliest. I know credit files do well with a mix of credit but I'm not sure what else is out there that counts as a installment loan and I don't want anything that will hurt me more. My goal is to get my scores back into the 700's. Thanks for any help.
