09-04-2012 12:58 PM
I want to get a house for next year and I know that I qualify for one right now. However I decided to wait. But Fico is saying what is hurting my credit score the most is that I don't have any revolving credit. I have not had a credit card in over 10 years. Scared to get one. However I heard that if I get one it will boost my credit score tremondously, plus my auto loan will be paid off by the end of 2012. Any advice???
09-04-2012 06:05 PM
You need to add a revolving acct. to get the most of your scores. Rule is don't app for new credit within 6 months of your mortgage so I would try now.