No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
So, BIG thanks to everyone who has helped me since I joined at the end of October, 2010. To give you some idea of where I was, I had scores of 606 (TU) and 629 (EQ) when I joined. As of Feb. 1, I was at 726 (TU), and 722 (EQ). But as you know, scores are a means not an end. The best part, my wife an I were approved for great mortgage at a great rate. I could never have done it without the help I got here.
So, here is my question. I have two baddies left on my report. One, is a 30-day late on chase credit card that is almost two years old. The other is tax lien for $5000 paid in 2007. The IRS now says it will withdraw the lien! New policy to help taxpayers. It is my only public record.
But, my question is whether I should wait until after I close my mortgage? The lender has already pulled my report, seen my scores, everything is fine. My concern is that I may be moving into fabled rebucket territory? It would suck to have to explain a big point drop during closing. Am I better off dealing with this lien after this is all done?
Other details: I have hight credit limits, over 40K, low utilization, just over 2%, no other debt, 4 open accounts, an AAoA of 14 years and a 25 year credit history. I've had 9 baddies removed in three months though...
IMO, if you are already approved with those items on your CR, wait until you close then work on getting rid of them. Just a few months right? Why take the chance of that possible rebucketing issue when the public record comes off. Congrats on the scores and mortgage though!
Thanks, and thanks for your perspective. I tend to agree with you, but this whole rebucket thing is so murky, it's like walking in the dark knowing there is a cliff out there somewhere. Everything is all set, and on track, so whether or not rebucketing is real, imminent, or whatever, why risk it?
cheers!