So I'm happy to say that my scores have shot up pretty crazy since joining here and lurking around so thanks to everyone as a whole for sharing stories and your knowledge.
With that said, Im looking for some opinions. I have a few credit cards open and have been paying them off ever month....but holidays hit so they are a little above 30%.
Not bad from a financial stand point as they can be paid off with ease but I thought this might be a good opprotunity for some diversity in my reports. I know its not a huge factor but I thought it couldnt hurt.
I have no loans at all...ever...on my reports. I figured if I get a personal loan from Wells Fargo or a local Credit Union to pay off the cards completly it will bring my utilization to zero on the cards and give me my first loan on my reports. Again, It would be no problem paying it off in a few months but I figured now would be a good time if any.
Any opinions? I want to make sure I'm not over looking anything.
Starting Score 5/10/2012: EQ: 631 EX: 570 TU: 583 Current Score: EQ: 710 (MyFico) EX: 740 (CreditInform) TU: 709 (WalMart) NEW Goal Score: 750 All Across 1st Goal: Achieved 6/7/2013 690 All Across
If it will save you money in interest, then I'd consider it. Otherwise I wouldn't get a loan for just a small bump.
Starting Score: 504 July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013 Goal Score: All Scores 760+, Newest goal 800+ Take the myFICO Fitness Challenge Current scores after adding $81K in CLs and 2 new cars since July 2013 EQ:809 TU 777 EX 790 Now it's just garden time!
June 2017 update: All scores over 820, just pure gardening now.