Hello everyone,
I wanted to share an example of how I raised from EX score from a 596 to a 668 in five months. I went into my credit union here in Colorado called PSECU and met with an account specialist and asked for some tips to improve my score. I found out they quarterly update your fico EX score online with a checking account with them as a member benefit. I was a told I was going to take a hard pull for opening the checking account but to make the most bang for buck she also set up an overdraft limit for $500.00 attached to the account. The specialist also recommended for a better "mix" that I look into an installment loan in the future and with my poor score a secured loan made more since. It was going to be $500 for a six month loan or $1000 for a 12 month. I opted for the 12 month loan and do earn minimal interest on the deposit and I and pay 3% on the loan itself.
The advantages for me foremost are
1. Watching my credit score climb above 660
2. Building a relationship with the CU
3. Having 2 trade lines report ( secured loan and line of credit )
Getting my EX fico score for free every 90 days
I hope this post helps someone, Wish you all well
.
