What should I do next.

[FireMedic1]

Forget You Tube. So much inaccurate info. Just like how to get your BK off your report videos. Yeah right. You can get the OpenSky no HP card to hit your 3rd card. Pay down the One Main loan to <8% and make the payments until its paid and then your points will climb. Then save over $3000 in NFCU savings and apply for the SSL once the other loan runs out. You dont want to be loan-less. That costs you a ton of points. Otherwise you doing great.

[kr43002]

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@FireMedic1 wrote:

Forget You Tube. So much inaccurate info. Just like how to get your BK off your report videos. Yeah right. You can get the OpenSky no HP card to hit your 3rd card. Pay down the One Main loan to <8% and make the payments until its paid and then your points will climb. Then save over $3000 in NFCU savings and apply for the SSL once the other loan runs out. You dont want to be loan-less. That costs you a ton of points. Otherwise you doing great.

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When the Loan is finished I plan on replacing it with a cheaper vehicle. When I get it down to ~8% instead of paying above minimum i am just going to put the excess income into savings for a Down payment. 

I don't want to snag another Annual Fee Card, I am going to be replacing the First Premier before the AF hits and would rather not have another account like that affect AAoA. But I would go after the OpenSky if I hadn't already gotten the First Premier Card. From the Youtube video, he had 2 cards in his dashboard, so I am actually curious if that is something available. They allow you upto 3 Credit Cards if Im not mistaken, so unless they have specific rules about the nRewards, it should be feasable. I am just unsure if it will have a negative impact having 2 cards from the Same Lender.

[FireMedic1]

FICO doent care who the lender is. Nor the credit limit. So lenders names doesnt bother FICO. Its how its reported each month. The goal is 3 cards so when 1 reports a balance of <8.99% your under the 50% of total cards reporting a balance. Thats what FICO likes. AZEO as we say. All zero except 1. With 2 cards your right at the 50% mark. Never have the 2 cards report a balance or report no balance. Have one report 10 bucks then PIF. Good thinking on savings. As long as the loan is still pen under 8% thats a win. Once you go loan-less. There goes 20+ points. So keep it open. Once the other loan is done. Then pay it off. You'll still lose a small amount of points from the new loan account. but not as much as having no loans reporting. Good Luck!

[kr43002]

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@FireMedic1 wrote:

FICO doent care who the lender is. Nor the credit limit. So lenders names doesnt bother FICO. Its how its reported each month. The goal is 3 cards so when 1 reports a balance of <8.99% your under the 50% of total cards reporting a balance. Thats what FICO likes. AZEO as we say. All zero except 1. With 2 cards your right at the 50% mark. Never have the 2 cards report a balance or report no balance. Have one report 10 bucks then PIF. Good thinking on savings. As long as the loan is still pen under 8% thats a win. Once you go loan-less. There goes 20+ points. So keep it open. Once the other loan is done. Then pay it off. You'll still lose a small amount of points from the new loan account. but not as much as having no loans reporting. Good Luck!

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What you said about loans is completely correct. I had closed a Self Loan because I wanted to use the monthly money elsewhere, and having no loans dropped my score from 607 to 578, then the new loan reported and brought it back up to 601. So having a loan is important lol