Is there anything else I can do?

[Anonymous]

I'm in the process us rebuilding my credit and I'd like to know if there's anything else I can do to improve it. Here are my stats:

New mortgage (re-fi) 12/2007 = current pays as agreed

Installment loan of 1K @ local bank 1/2008 (soon to be BOA) = starts reporting next month

Secured Visa Card opened 1/2008 for 4K util 10% first billing statement hasn't arrived

Secured Visa w/ BOA $300.00 opened 1/2008 * I was not approved for the 99/500*

$7,500 "unsecured" revolving credit w/ merchant account reports to TU only 1% util(hello Hooters )

$3,000 "                                                                                                       

At the time I acquired the re-fi and other forms of credit I literally had "no" active credit on my reports. The only 2 positive items were almost 10 yrs.old each otherwise I had negative items....only. Here are the current update to removal of negative items.

1st # is how many negatives I started with - 2nd # is how many I have now - 3rd # current FICO score

TU = 10/4/558

EX = 12/4/644

EQ = 6/4/585

None of my accounts are reporting yet, except the mortgage. Basically, I hade 2 installment loans, 2 revolving cc's reporting to all 3 CB and 2 more reporting to TU only (2 install. & 4 revolving cc reporting to TU).

Is there anything else I should be doing? Or should I just be sitting back waiting for these accounts to age.

Thanks in advance,

LaSha'

[Anonymous]

You need to sit tight & let the new cards start reporting.  Use 1 at a time & only for something that you would usually pay cash for. When the bill comes out PIF before grace period ends. It will report Bal.$0.  Take the next new card & do the same   until all new cards are used 2 times & then sockdrawer them for 6 months  and repete.    This keeps them active and still with a Bal $0  which is great UTIL.

It takes time for them to age  I would not apply for any more for awhile. Also let your ings  age also.

[Anonymous]

Happy,

Thank you so much for your advice. I was thinking the same thing about just letting them age for now. I'm going to buy a condo next year (12-18 mons.) and want to make sure everything is up to par.

LaSha'