@Anonymous wrote:
been reading some of the stories here and its good to see people making progress!! like most i made crap decision in my 20s and now im paying for it. ive successfully paid 22 things off my credit report attempting to get a mortgage. monday i pay off my last 2 things. my Score 8 are Equifax 564 Trans Union 592 Experian569 a mortgage lender ran my scores and they are using the "old scores" and in the old scores i need a 620 to be approved. the scores he pulled where a 584, 606, and a 625 i dont have any credit cards (dont really like them) but i have a auto loan that ive never missed a payment on. i make close to 50K a year. so my debt to income ration is pretty good lol. i just hope after paying off these last 2 things my score will jump enough points. or is getting a CC the only way... thanks a ton!
You might want to consider getting a few cards. 3-4 cards are ideal for pushing FICO scores one being a store card. Cap1 and your local credit unions would be a good start. Having an auto loan would also help, but may not be the best option if you are looking to buy a house soon.
No cc's are not the only option, but a good option. They can be a powerful tool if used responsiblly.
If you have absolutely 0 negatives in your history than the only way to raise your scores is to obtain more credit and making payments on time and keeping UTI low. This shows creditors you are responsible.
