still wallowing in the low 600's

[shasta]

Pulled TU today, 630. I keep learning every day and I'm thinking that I probably don't have enough credit now, because I spent 4  years paying off old/bad debt.

I have $20,000 in student loans (everything is paid and current). I am an authorized user on 1 best buy and 1 chase bank (both are paid and current and about 50% paid off). I have 1 capital one (4 months old, been using it and paying off every month). 2 collection accounts (two, $600 limit credit cards that I defaulted on a long time ago).

I don't have a car loan, a mortgage or any personal loans. I have worked so hard over the last 4 years, worked 2 jobs to pay off nearly all of my credit card/past due debt and I am stuck in the low 600's.

I have an old truck that I thought about trading in and getting a medium size car loan ($15,000 or under). I would have no problems with the payments, but I don't know if I can get approved.

Does anyone think the car payment would hurt or help. Other than trying to get those 2 collection accounts removed, I don't know what else to do. I have tried everythiing to dispute those, except for GW letters.

thanks

[llecs]

There are many examples in here of posters hitting 800 with no loans of any kind reporting. I think you'll hit it given time and lower util (50% is high). The two COs (assuming the OC reports them) are hurting in a big, big way since they likely still factor into CC util. You might see a decent bump if paid off (again, assuming they are unpaid CO'd CCs).

Adding a car loan would likely result in a loss. You already have a mix of credit with the SLs. Adding a car note won't improve the mix. The loss would come from the added account, but any lost points would be returned inside a year I bet.

[Yodafer]

I was able to get a car loan with my scores high 500's low 600's.  Interest rate of 8.99 not great but not horrible.  Capital One Auto will most definitely approve you but their interest rates were HORRIBLE. 

I think the utilization on the cards your an AU on may be bringing your scores down.  If those balances get below 10% I think you'll see a huge jump.