Hey all,
I've got two questions. Before coming to myFico.com I had pulled my three bureau from ConsumerInfo.com. I've been doing so 3x per year for the past two years, as I've been slowly but surely been trying to rebuild my credit. In the beginning I was in the low 500's on each. Currently I'm standing on the following scores according to ConsumerInfo:
Experian: 641
Equifax: 589
TransUnion: 641
The Equifax score has been stuck there for a while but the other two have been on a slow climb. I've reviewed my credit reports numerous times and can't find what might be holding it back. Is there anyone I can consult to review my information to spot something I might be missing?
My car loan is almost paid, only a few payments left. My student loans--they'll be there for a while but are more than manageable. The only other outstanding accounts I have are two low limit ($500 each) credit cards from early in the rebuilding process (First Premier) and a card from a local jeweler where I financed part of my fiance's engagement ring (12 months same as cash and in position to pay it off before the interest starts, already 1/2 way there). I'd appreciate any advice on what might help my situation here as well, including closing account(s). In terms of credit inquiries--One on Experian and one on TransUnion, but there are several listed under Equifax. I'm guessing many are from around the bike purchase, and if they are erased every two years then 4-5 will be gone by May.
And the second question: I have a high-interest motorcycle loan that matures in May 2013 (I know, dumb financial idea, but well worth it as far as peace of mind goes). Over the course of the past year I've landed in a position to pay it off within the next one-two months, saving myself a boatload in interest charges. Question is--would this help or hurt my credit scores?
Sorry for the long winded questions, but I've been drawing blanks on my own lately and can use a hand!
