Re: Need guidance
09-22-2012 05:45 PM
Ok, so I worked for a year and got my score from 600 to 650 and 665. Then, I had to max out my mattress card and buy a new car. As a result, I went down to 630. I was told my score will go up 2 points a month or something as this car loan helps me. Thing is, do I need to get my Util down to 10% in order for the car loan to start affecting me ion a positive way?
You took an initial hit with the Inq and a hit on your AAoA with the posting of the new car loan. Those hits will diminish quickly with a little aging. The max out on the mattress card will affect your score. Once you pay down your util your score will rebound.
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+
Take the myFICO Fitness Challenge
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!