biulding credit

[mosros7]

I currently have a 588 EQ score. I have two car loans and only three revolving charge cards.The combined limit for all 3revolving is $2500 with  utilization of $2200 I will be paying that down to  30%  $750  My question is should I apply for new credit cards and use the 30% recomended or will the inquiries hurt my score.Also I have 5 accounts which have $0 balance on them but they show past due where it says current payment status. I put it a dispute to equifax. Is this current status hurting my score? Thanks for this thread I am really pumped to get my score to 800 one day!!!!!

[ptilda]

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@mosros7 wrote:

I currently have a 588 EQ score. I have two car loans and only three revolving charge cards.The combined limit for all 3revolving is $2500 with  utilization of $2200 I will be paying that down to  30%  $750  My question is should I apply for new credit cards and use the 30% recomended or will the inquiries hurt my score.Also I have 5 accounts which have $0 balance on them but they show past due where it says current payment status. I put it a dispute to equifax. Is this current status hurting my score? Thanks for this thread I am really pumped to get my score to 800 one day!!!!!

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Who are the charge cards with? Some do soft-pulls which don't hurt the score. Others do hard pulls which take a few points off.

Three cards is not a bad start. You're in a better spot than I was a month ago. You can add one or two maybe, but opt for ones that truly will help, and not "junk" cards. Check out the forums a lot to see what people are applying for with your scores, and look at whogavemecredit.com.

You're on the right track to pay down balances to less than 30%. And disputing is important to get negatives off your records.

I'm learning too, but there's a wealth of information on here!

[guiness56]

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@ptilda wrote:

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@mosros7 wrote:

I currently have a 588 EQ score. I have two car loans and only three revolving charge cards.The combined limit for all 3revolving is $2500 with  utilization of $2200 I will be paying that down to  30%  $750  My question is should I apply for new credit cards and use the 30% recomended or will the inquiries hurt my score.Also I have 5 accounts which have $0 balance on them but they show past due where it says current payment status. I put it a dispute to equifax. Is this current status hurting my score? Thanks for this thread I am really pumped to get my score to 800 one day!!!!!

---

Who are the charge cards with? Some do soft-pulls which don't hurt the score. Others do hard pulls which take a few points off.

Three cards is not a bad start. You're in a better spot than I was a month ago. You can add one or two maybe, but opt for ones that truly will help, and not "junk" cards. Check out the forums a lot to see what people are applying for with your scores, and look at whogavemecredit.com.

You're on the right track to pay down balances to less than 30%. And disputing is important to get negatives off your records.

I'm learning too, but there's a wealth of information on here!

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You can only dispute inaccurate information and not dispute hoping it will be removed.