@ITZ_Nate wrote:
Thanks for your reply!
So one of those two secure loans has been paid off and was closed yesterday. At the time of opening the loan I didn't have much capital, so the one that recently closed was only an 18-month term. My other one I had a lot more capital and was able to get a way longer term of 62 months. So I still have one on my profile. Correct me if I'm wrong, but you're saying I'm way past the secure loan phase? I've heard I should only have at least one revolving loan on my profile at any given time for credit mix?
I definitely agree wholeheartedly that I need to 'let your credit age and don’t apply for anything else. See if you can get CLIs to help your utilization.' I'm still a college student, and with only having a part-time gig, my income doesn't increase too much, but that hasn't stopped me from asking and getting increases. My utilization on my personal cards is in the 3% of my total revolving limits of 7900. When I bring in the AU's it sits around 10% of my total revolving limits of 103,050.
Don't know all my FICO scores right now, but I'd say they range from high 750's to low 770's.
You have the terms backwards -- credit cards are revolving lines of credit. Fixed loans, like personal loans, mortgages, car loans, or SSLs, are installment loans. You don't get extra points for having more than 1 one of each, so there's no point in getting another SSL.
If your FICO 8s are in the 750s to 770s, that's pretty impressive.
