@Anonymous wrote:
This is my cousins account.
Just was browsing through the forum getting educated. I wanted to know what would be the best approach when trying to get my credit score to increase by 80-100 points in 6 months
My current score is 550... and that's with one credit card, 5 baddies all old and small amounts. No judgement. I wanted to know what would be best to obtain a $2000 limit credit card and maintain it and keep balance usage low or a car loan?
I would not suggest getting an auto loan unless you actually NEED another car. You can fill the installment loan slot for credit mix with a small secured loan $300-$500 or so, and get just as much FICO mileage from it as a $25K auto loan. I would suggest opening a Secured loan from SDFCU. Once the loan proceeds are deposited in the account, move them back to savings and use it to get a secured credit card with them. That gets you second card and a nice score boost. Next, app for a Captial One card. If approved you will have the recommended 3 bank cards and installment account.
