@AdamH83 wrote:Hello all,
I just closed on my mortgage today (NFCU) they were amazing throughout the enitre process. Closed in 35 days from the time of my app to the close and that included 2 holidays!
My profile exists of the following scores and cards.
FICO 8 all 695+
FICO 8 Bank 688 711 714
FICO 8 AUTO all over 700
FICO 9 636 610 600
FICO 9 BANK 632 609 600
FICO 9 AUTO 635 595 601
I gave a ram back in february of 2019
average age of accouunts 4.5 years. longest is AU on a kohls card of my grandmas that hasnt had a balance in probably a decade
CARDS
fingerhut 0/1400
credit 1 0/400
credit 1 0/1500
total visa 0/300
Kohls 100/1500
chase amazon 50/5500
Amex BCP 0/5000
NFCU 46/3500
Apple 200/1500
lowes 0/500
care credit 0/2000
cap one qs 500/5500
discover a/u 1300/8000
CAP one auto loan 25,500 @3.99 with a co
I also have 7 student loans totaling 23000 with probably 14-15K that should be wiped due to unfair practices
I have 7 late payments on each student loan account.
I have paid off all baddies and the repoed truck.
i make about 130-150K depending on bonuses.
i want to cancel the credit one accounts, fingerhut, and the total visa.
I have plenty of cash aside to spend on whatever, roughly 25-30K to either pay off student loans or just keep in the bank. I pay in full each month with leaving a balance here and there sometimes. never over 5% at most
just looking for advice on how to bring those FICO 9 scores up!. I dont want to do any additonal damage. most of the good cards are all under a year old with some as recent as this week
As long as late payments show on your file unfortunately is going to impact your score! Other then that AZEO to bring up 20+ points for couple of months but that is not sustainable long term.
You have bunch of cards highlighted in RED that soon or later you going to get rid of them.
Lows CC is very low limit for that store! Cancel it if they are not given you CLI
I would recommend to get a 2% card for your basic everyday use to replace QS. Something like FNBO Evergreen or your own Discover it with 2% 1st year.
You have new inq, new CCs that needs time to bring your score up!
At this point close any CC that you don't see useful in long term. As you know, they are going to report for next 10 years...
Based on my preferences and spending habits here is what I would close:
CARDS
fingerhut
credit 1
credit 1
total visa
Apple
I would also close the Lowes store card unless you need things for the house. What you decide to do depends on your own preferences and spending habits.
FICO 8: 
Goal: Gardening!
Goal: Gardening!
@AdamH83 wrote:I was going to close all those with the exception of Apple. Reason being, and this may not be the way this works. My fico 9. That's what GS pulled to issue the card.
I didn't know if it helps my fico 9. Which is a struggling score, to get it back up over 700.
I just snagged the Lowe's card as I just closed on my mortgage. I'm going to max it then PIF for a couple months and see what they say.
I'll be spending somewhere between 25-35K on doing some work to the house. I can lay in cash but figured why not use the card to help my score. I need some dental work as well so I'll probably keep the care credit for the tome being
I'm not sure how the FICO Scoring works. If you would use the card keep it... My personal finance philosophy is that I don't finance toys. If I can't pay in cash for a toy then I can just wait or find a cheaper alternative. I'm a professor part time and I do all my work for the university on a $200 HP laptop that I picked up on Cyber Monday. But again that is personal preference.
FICO 8:
Goal: Gardening!
Goal: Gardening!
