Has there ever been an instance that C1 removed the AF to get you to keep the card? I wouldn't have a problem keeping it open if that's the case. I just won't use it.
You're absolutely right @VanderSnoot. I know but keep forgetting about closed accounts.
@MyFault wrote:I've never been one to have a lot of credit cards. I grew up in a household where my dad preached, not buying things you can't afford and paying cash for everything. Because of that i was never really concerned with my credit scores. I purchased my first house in '08, lived there for 9 years, and the whole time i had just one credit card from my purchase of a Macbook Air in 2013. I let my credit go, and honestly didnt' care because i had a house, i never purchased a new car as i just kept buying cars i could pay cash for. I had the mindset that i don't need credit!
Well, i was wrong. And i wish i had been tought differently growing up.
I've mentioned this in other posts, but my scores were in the low 600s for the last few years. Mainly because i only had two cards, a single collection, and no loans. The balance on those cards is now $0, minus some reoccuring charges that i PIF monthly, and the collection has been paid and removed from my report. My scores now are all 750+
I moved out of state with my GF a while back, and we weren't sure where we wanted to plant our feet so i've been renting a house the last three years. This is the longest i've ever rented in my life, but that's another conversation. We finally decided we're staying here, and what part of town we'd like to live in so I'm planning on building a house next year so that will add a mortgage back to my credit profile.
My question is this:
What can i do to make sure that my scores stay where they are now that i've worked hard to fix them, and also keep them climbing. My goal is of course to be 800+ across all three bureau's. A friend of mine told me i should apply for a $5k loan with 18-24 month term, and pay it off after 1 year. I currently have no auto loans or personal loans. However i have added couple additional cards to my profile this past week.
I don't need a loan, but should i open one just so i have a more diverse history?
What are some suggestions on what i need on my credit profile, or what i should do? I do plan on cancelling a Credit One card shortly(should have done it long ago), and replacing it with a card that i haven't decided on yet. I'd like to keep 4 cards open at least, and i'm going back and forth on adding an Amex Platinum as well in the next 6-8 months for its perks. So that would be 5 cards total.
1. One great thing for your mortgage scores is to not apply for any new credit.
2. Another great thing for your mortgage scores is to have all your revolving cards report at zero, except for one reporting a small balance before you pay it off.
3. The more you appy for new credit the more you will be weighing your mortgage scores down.
