Trying to rebuild credit in hopes of purchasing a home in about 2 yrs

[Anonymous]

My credit is pretty low right now....530-560 on credit bureaus where CK shows 607 ugh. I have a lot of old collections from when I was young and stupid and they should fall off in 2 yrs. Other then that I have a lack of credit. I have a Capital One secured for $350, a Capital One unsecured for $500, authorized user on my husbands USAA secured for $250 but it barely shows a balance. I just did the shopping cart trick yesterday for VS and was approved for $500 I think I need another visa, MasterCard or along those lines but don't want to use another hard pull as I already have quite a few from car shopping last May. Are there any of these cards that I can get easily with a soft pull?

[gdale6]

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@Anonymous wrote:
My credit is pretty low right now....530-560 on credit bureaus where CK shows 607 ugh. I have a lot of old collections from when I was young and stupid and they should fall off in 2 yrs. Other then that I have a lack of credit. I have a Capital One secured for $350, a Capital One unsecured for $500, authorized user on my husbands USAA secured for $250 but it barely shows a balance. I just did the shopping cart trick yesterday for VS and was approved for $500 I think I need another visa, MasterCard or along those lines but don't want to use another hard pull as I already have quite a few from car shopping last May. Are there any of these cards that I can get easily with a soft pull?

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You should have at minimum 3 bankcards and 1 store card to help maximize your Fico. You also only want 1 card reporting a balance of 1-9% of its CL to the CRA each month and the rest at 0, you can experiement with the actual percantage that will bring you the highest FIco, its different for everyone. You can use the shop cart trick which will pre app you with a SP but most likely will result in a hard. Comenity FRN, Sportsman Visa and a few others they have in their arsenal. Most of Comenity cards use EQ for approval but there are some that use EX. If you want to go with another secured you can get in with SDFCU put the funds in your savings for their secured card and use the phone to app it will be a sp to open.

[Anonymous]

Thanks so much! I've been good with keeping low utilization on the cards....and I pay them in full every month. Cap One counts as a bank card right? So I should add one more with hopefully a higher limit? I tried sportsman visa a few times and can't get the pop up to show I'm pretty new at this but have been scoping these forums for the past few weeks and def want my score to fly high and fast I'm not sure what SDFCU is either....

[Anonymous]

State Department Federal Credit Union. You can qualify to become a member by joining the American Comsumer Council, which costs five bucks.

[Imperfectfuture]

You don't need any more cc's, you have enough for credit. I presume you are still paying on your car, so there is the installment loan. You have such bad baddies for that many cards and an auto loan to have that score. I only had a few cards plus no installment loan, with only a couple baddies left to fall off, in 600's.

Utilize your cards, don't need new credit, will mess with AAoA anyways. You need to focus on removing the baddies. Get help in this forum to get those off the report. Search this forum and google for the specific collections. If you have late pays, high utilization, charge offs, then those might be harder to get rid of.

Don't pay for collection unless they delete. It will just update, and make score worse, work the baddies while building your credit, and the scores should pop nicely in a year.

DON'T expect overnight success here. It will take about a year, credit building takes time and patience,

No more shopping cart cards (keep you in toy limit hell when you are ready to app for stuff), YOU HAVE ENOUGH CARDS. Optimal balance, one installment loan, three cards, you have that.

[Imperfectfuture]

Also, where are you getting the scores! Home lending uses fico 94, which scores lower than Fico 08 on the forums.