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EDIT Member of 3 credit unions now

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Anonymous
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EDIT Member of 3 credit unions now

Hi all,

Red Canoe Credit Union joined 4/2/18
WSECU joined 1/20/18
NFCU joined 4/2/18

I've been with Washington State Employees Credit Union (WSECU) for a few months now. They've been great about helping me get back on the right track (as well as this forum!!). They recently just told me about a secured credit card that they offer, along with a share secured loan and a share secured line of credit.
I know you need a mix of credit. So I was looking for some advice on what i should consider based on what i already have.

FICO Scores from MyFICO:
TU 541
EX 565
EQ 518

Cards:
Fingerhut: 200CL/0 BAL
Capital One QS1: 1000CL/0 BAL
Capital One Platinum: 300CL/0 BAL

Auto Loan
BMW Financial: 29000 (about)

The goal is to charge and carry a 8.9% balance on one of those cards and get my FICO scores higher based on the AZEO Method.

Long term goal is to buy a house within a two year period.

All 3 Credit Unions offer secured products of various types of credit, so any suggestions are helpful.

I've posted a few times on here and have appreciated the advice given.

Thanks in advanced.
3 REPLIES 3
gdale6
Moderator Emeritus

Re: EDIT Member of 3 credit unions now


@Anonymouswrote:
Hi all,

Red Canoe Credit Union joined 4/2/18
WSECU joined 1/20/18
NFCU joined 4/2/18

I've been with Washington State Employees Credit Union (WSECU) for a few months now. They've been great about helping me get back on the right track (as well as this forum!!). They recently just told me about a secured credit card that they offer, along with a share secured loan and a share secured line of credit.
I know you need a mix of credit. So I was looking for some advice on what i should consider based on what i already have.

FICO Scores from MyFICO:
TU 541
EX 565
EQ 518

Cards:
Fingerhut: 200CL/0 BAL
Capital One QS1: 1000CL/0 BAL
Capital One Platinum: 300CL/0 BAL

Auto Loan
BMW Financial: 29000 (about)

The goal is to charge and carry a 8.9% balance on one of those cards and get my FICO scores higher based on the AZEO Method.

Long term goal is to buy a house within a two year period.

All 3 Credit Unions offer secured products of various types of credit, so any suggestions are helpful.

I've posted a few times on here and have appreciated the advice given.

Thanks in advanced.

You dont need share secured loan or loc as you have the auto loan for installment mix and you have your 3 revolvers. Garden and use the cards you now have and do AZEO for the next 6 months and see what your Fico gets up to. You also want to be working on any derogs during this period of time.

Message 2 of 4
Anonymous
Not applicable

Re: EDIT Member of 3 credit unions now

As gdale6 stated, your credit mix is already good. Let your current accounts age, work on CLIs with your Cap1 cards, make on-time payments, work on cleaning up whatever derogs you have on your reports, and I don't see a mortgage within 2 years (or less) being out of reach at all. 

Message 3 of 4
Anonymous
Not applicable

Re: EDIT Member of 3 credit unions now

I know no one on here likes to hear this lol but i have Lexington Law working to clean up my current derogs:

30 day late bmw financial in November 2017
90 day late First Progress Feburary 2018
Chapter 7 bankruptcy on 2/3 credit reports because i got equifax to delete my other one over a year ago.

MyFICO score simulators show to be promising based on aging and on time payments.

Thanks again for the encouragement and guidance. It means so much to me.
Message 4 of 4
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