How to grow my credit portfolio...

[staticvoidmain]

---

@NewtoFico1 wrote:
1) I want to build my credit to have lower utilization on my current cc debt. However, this may not be possible with the high inquiries due to trying to qualify for an auto loan. 7/8 due to the auto loan... within the last two to three months.

---

Take note of this: Credit Checks and Inquiries

Read the part about Rate Shopping. Use this knowledge in the future so you can strategize when you apply for auto loan. I would think that for 2 to 3 months, you'd only have 2 to 3 inquiries based on loan application.

[RonM21]

OP, I wonder if there is anything you can do about trying Goodwill letters to get the old paid hospital bills deleted from your profiles?

As mentioned in the above post, the inquiries should be a bit less due to the scoring calculating it differently, knowing you were rate shopping for a vehicle.

[HeavenOhio]

---

@NewtoFico1 wrote:
Okay,

1) My oldest credit card in good standing. 11 yrs..2000 sl 1411 used more than 50% utilization 22.99 purchase apr.
2) kohl in store card 5 years in good standing 300 sl 79 used my utilization is fine.
3) Tires plus in store card 5 years in good standing. 1200 sl o% utilization used.
4) Best Buy newest account opened March of this year. 2000 sl 693 used. Taking advantage of 0% financing for 12 months.
All four of my paid collections were hospitals Bills. They started around 2013 to 2015. My last two that I did not know about were paid Sept/Oct 2018.

---

Your new account situation is good. And I don't think the auto inquiries will be a roadblock as long as they're coded as "auto." What's going to stand in your way is your current utilization.

My suggestion would be to pay off the $1411 balance, get the Kohl's card to report zero, and to bring the Best Buy card's utilization to 28.9% or below. After doing those things, you should be in good shape to apply for something new.

[NewtoFico1]

Well, I want to THANK everyone who responded to my post. My plan will be to pay those balances down. Next question should I even push the cli on their website now?? Or will lenders view me a better light after I pay down the balances and garden for a while??

[HeavenOhio]

Pay down your balances first. Which bank is your oldest card with?

[Anonymous]

OP, I would at the very least see if Kohl's is offering a cli. That will help some. Then work on paying down balances, but to be completely honest, I got an Amex ED card with a NFCU credit card having a close to $3000 balance transfer showing and still got $3000 sl and also got a $3000 Chase freedom.That was in 2015 so take that as you will. 😉

[NewtoFico1]

Hi RonM21,
Do you think it will help to send a GW to the collection agencies?? Even if I already paid... if yes, or unsure.. how would I proceed because I never ever sent a GW letter.
Please advise... thanks in advance.

[NewtoFico1]

Us Bank is my oldest.

[Anonymous]

For a bit of perspective, how old is this card?

[NewtoFico1]

I believe 2007..