hey guys!
I was was just able to get a home depot card w a $2k limit. Had (and wrong) bad stuff on my reports previously. Had a tax lien wrongfully placed and dropping off in a few days (already dropped off Exp), waiting for 1 sept when I can get the parking tickets off Exp due to the NYC DA settlement. My FICO8s are all 650-655. I'm an AU on an AmX acct but the Home Depot acct is my only credit card. I hv no loans or revolving acts.
Trying to to drive my FICO north, what do you think my next move should be? Sit on (paying) the HD card? Get another cc? Get a personal loan? Any insight is appreciated....I'm not hip to how credit works. Want to get a condo in the area soon. My mortgage FICOs are not moving but at like 700-710.
@message_from_god wrote:hey guys!
I was was just able to get a home depot card w a $2k limit. Had (and wrong) bad stuff on my reports previously. Had a tax lien wrongfully placed and dropping off in a few days (already dropped off Exp), waiting for 1 sept when I can get the parking tickets off Exp due to the NYC DA settlement. My FICO8s are all 650-655. I'm an AU on an AmX acct but the Home Depot acct is my only credit card. I hv no loans or revolving acts.
Trying to to drive my FICO north, what do you think my next move should be? Sit on (paying) the HD card? Get another cc? Get a personal loan? Any insight is appreciated....I'm not hip to how credit works. Want to get a condo in the area soon. My mortgage FICOs are not moving but at like 700-710.
You want at minimum 3 open revolving CC accounts in your own name to help drive your Fico, revolving drives Fico more than installment but you can add an installment if you are looking for a credit mix. You want to get your 2 new revolvers first and if you are going for a mortgage no new credit apps at least 6 months prior to the mortgage pulls. Use the cards and pay them off you want 1 reporting a small balance to the CRA the others at 0.
That depends.. on how many inquires you already have on your account.
Also, don't forget the 3-card-rule, for maximum score power.
THanks SO MUCH for your response. I'm really new at optimizing credit scores and did not know I should get two more cards - I thought I was styling w the ONE! Hahahahhahahaha! But thanks so much for taking the time to share your info w a newby! <3
Thanks for the info! I appreciate it! Good to know where to go w these numbers to apply and get the most bang for my hard pull! =)
Totally did not know the three card rule! I'm gonna go ahead and try for that then. Thanks so much for taking the time to reply and the awesome info that I would not have tracked down. =)