Question about Credit Cards
09-04-2012 12:58 PM
I want to get a house for next year and I know that I qualify for one right now. However I decided to wait. But Fico is saying what is hurting my credit score the most is that I don't have any revolving credit. I have not had a credit card in over 10 years. Scared to get one. However I heard that if I get one it will boost my credit score tremondously, plus my auto loan will be paid off by the end of 2012. Any advice???
Starting Score: 565
Current Experian Score: 634 (Lender pull)
Current Equifax Score: previous 668, 680 as of 11/12/13 lender pull
Current Transunion Score: previous 675,677 as of 09/23/13
Goal Score: 750
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Re: Question about Credit Cards
09-04-2012 06:05 PM
You need to add a revolving acct. to get the most of your scores. Rule is don't app for new credit within 6 months of your mortgage so I would try now.
Starting Score: 504
July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
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Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!