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Am I On The Right Track?

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New Member

Am I On The Right Track?

I have been reading the posts on here for some time and I have been trying to do this right, but I don't know what to really focus on to increase my score. Within the past 8 months, I have opened up a Discover secured card($200), a USAA Secured card($300), an Indigo Unsecured ($300), a First Premier Unsecured($425), and Fingerhut($300). I am an AU on my wifes Discover($2000) and her Capital One($500). I paid around $500 to a credit repair company and they helped a bit with some of the collections but I still have 6. I am paying on 5 of those and they should be paid within 12 months. I do have a lot of inquiries most of which are from getting denied for auto loans. There is a voluntary repo from 2015 which hurts, but when you lose your job...Anyway, I have been getting a number of "Preapproved offers" in the mail and I am wondering if I should take some. My scores are around 580, Discover says my Fico 8 score for TU is 611. Not sure what information is helpful so here are some demographics from Credit Karma:

 

Age: 25

Accounts: 27(19 closed, 8 open)

Credit Age: 2 years

Util: 34%

Payment History: 95%TU and 100%EQ

Derogatory: 6

Inquiries: 40(a lot, heard it a million times)

Income: $62,000

 

Thanks in advance

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Super Contributor

Re: Am I On The Right Track?

Best advise. Please stop app;lying for new credit. You have enough cards. Let them age. Keep paying on the CA's. Ask them for PFD after you have paid them off. You got to let incision heal. Takes time. More is not better in your case. Let the inq's age and fall off. I wouldnt do anything for at least a year. Once the collections are paid. Then try for a unsecured card. Like you said in 12 months it should all be paid and your CL's will have aged then. GL!

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