Re: Brand New to credit scores, need advice building from where I am.[ Edited ]
11-19-2012 03:55 PM - edited 11-19-2012 03:56 PM
If your oldest credit is 6 months old it is unlikely your FICO is 711. This would be the first month that a FICO score could even be calculated. Where did you get that score? If you want to know one of the 3 FICO scores that will be used for a mortgage, purchase the EQ FICO here.
No need to pay interest if you charge on a card and then pay it after the statement is generated but before the due date.
You need to get a normal credit card of some sort. You will have a problem with short history and a lack of accounts.
20% down is the minimum required to avoid PMI, which is an additional expense every month. More than 20% certainly helps you qualify.