I'm new to this forum and trying to rebuild my credit after a foreclosure in Oct 2011 and a bankruptcy in May 2012. I was very clueless about credit scores, and after those happened, I was too scared to do anything finance related. I only became "brave" enough to start learning about credit scores and work on improving my score in Mar 2014.
Anyway, I have been poking around these forums and have gotten the impression that many people are rebuliding their credit scores quickly by opening multiple credit cards. Could someone please tell me if I am understanding that correctly and if so, share how that works?
My scores as of 08/01/14 were EFX 641, XPN 658, TUC 678. I would like to get these as high as possible and as quickly as possible so that I may have a chance of being approved for a mortgage and one with a good rate by next spring 2015.
Currently, I have just one unsecured Capital One credit card that I got in March 2014. It as a balance of 1499/5000. I have two student loans - one of which has a balance of 22000 and the other 17000. I have a car loan that I received in April 2014 with a balance 9800.
Thank you in advance for any advice or suggestions to help move my scores up quickly!
