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.
|Total Credit: $240,100||Credit Utilization: 1%||AAoA: 5 years, 7 months||Installments: Car Lease, Marcus Loan||Negatives: 0|
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.
|FICO 8 SCORES: 06-02-2019||616 TU||613 EX||638 EQ|