02-02-2011 02:43 PM
I joined about 2-3 weeks ago. I bought the quarterly monitoring with access to my score & report every 3 months. MyFico provided my TU score. I went to EQ site and bought my score from them around same time. I opened up a CC b/c I didn't have one. I got a little app happy one night and app'd for 2 more cards; this was after going 2 years w/o a single inquiry to my credit. I'm looking to buy a car in next couple of months and I want to make sure my scores go back up. I'm itching to buy it again from MyFico to see how much damage I did with the apps so i know what to work toward for the car. I was a 670 before w/ both TU & EQ.
Should I go ahead and buy this month or just wait till end of February and give time for new card to report and make a payment? Or would it be wise to go ahead and buy so I know where I stand right now?
02-02-2011 03:07 PM
Since you've just added new cards, buy, pay off, and wait up to 2 months before pulling your scores. This will also mitigate some of the damage from the inq you received when you applied.
As long as you don't let a balance report on your statement and you aren't late, your scores should go up and probably in 3-4 months you would be good for car shopping.
Hopefully someone else can come along to confirm this.