Last year I started rebuilding my credit so that I may qualify for a mortgage. My score then was 510. The past three years I have been keeping current on my student loan, a whopping $6,000.00 and I have never missed a payment. Last February I opened a First Progress secured card ($300) which of course has matured into a 1 year old line of credit and thus the rebuilding began.
I did have two collections on my report about a month ago. However both have been payed off which has already updated on my report. Myfico reports three inquiries, though creditkarma reports 6?
As of now myfico is reporting a score of 653(eq) and creditkarma 636. I know this First Progress card isnt going to grow me much more credit, or slow at that. It would seem like I have the green for go on possibly getting an unsecured card. The mortgage lender I spoke to said he can use my student loans and current cc as the three needed lines of credit to qualify. Is it safe to open another line of credit at this time, and who would be most likely to approve me? I tried Barclays sometime last year and was denied. I am interested in barclays, or discover 'it'.
What you all think?
Starting Score: 510By the way. My utilization on my First Progress cc is 10%. Sorry for leaving that out.