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This year is the year that I have decided I would like to purchase a condo for myself considering the type of job that I currently have, which I work half a year out to sea and is home on vacation the other half, so renting a apartment is not and option for me just a waste of money in my eyes. So im going to lay EVERYTHING out on the table and look for some really good advise on what the best options for me should be. I signed up for Lexington law back in Aug of 2012 and they have removed a GREAT deal of accounts for me in the past few months, I know everyone is going to say I could of done it myself and saved the money but due to no time and my job that was just not an opition... My current annual income is about 60k,
And my credit profile is as followed:
Ally Bank Car Payment $476.81 Bal is $24,323.00
Care Credit Payment $ 0.00 Bal is $ 0.00 CL $3,000.00
Citi Health Card Payment $ 57.00 Bal is $ 1,671.85 CL. $2000.00
Capital One Payment $ 15.00 Bal is $ 480.00 CL $ 500.00 (Use Every Month & Pay Off)
Orchard Bank Payment $ 25.00 Bal is $ 390.00 CL $ 400.00 (Use Every Month & Pay Off)
I do have side items I pay for monthly but not too much my credit utilization is 28% according to my last credit report, my biggest question is if I try to open a new account preferably a personal loan, would this hurt my chance of getting a home with a newly aged account... And my credit score are not bad but not great either my Transunion is at 678 Equifax is at 648 Experian is at 660... Thanks in advance for the help...
My file has a few dings from over three years ago but currently there are no dings on my credit profile.. I would like to purchase now but IM still on vacation and haven't been to work in a few months kind of need to save more down payment before applying for homes...
Ummmm cut vacation short and save some money! lol
We all understand and all been there......
Heres what I see from taking a quick glimsp at your situation. You already are good with the different types of credit. you have both revolving and installment loans. what you need to do is pay off those low credit cards but dont close it out. if you cant pay it off then pay off 75% of each card, your good with the 24000, installment loan, next what you want to to is google how to opt out of pre approval credit card offers, when you find the site opt out for 5 years. (that is take your name offf the list from reciving those pre approval offers. if you do that your score will jump up at least 60 points, write me back and tell me when it does.
rjohson I do use the smaller credit cards I use them up every month and pay them both off before the statement prints out so every month it shows a $0.00 balance and the 2 smaller credit cards (Capital one and Orchard bank) but Im not able to pay down the bigger credit card on Citi cards until a few months from now... Are you saying that by me signing up for opt out pre-screening I can instantly increase my score by 60 points?
I opted out, it did nothing for my score. But it is important to opt out anyway.
The real balance that reflect my accounts are both $0.00 (Capital one and Orchard Bank) but I still owe one citi heath the $1600.00, I want to open a personal loan but not sure if its great idea seeing that I am trying to get a condo in 6 months