I am rebuilding my credit and started out at zero credit.
CAPITAL ONE BANK USA N
CREDIT ONE BANK NA
Issue is it looks like my account is hurting because i have to few accounts but if i seek credit it also hurts my credit what should i do now?
What’s the history on those AU cards? Perfect payments? Do you have any negatives of any type on your reports? You have “few payments made on time” in there, which indicates payment issues in the past, either of your own or on the AU cards.
on the AU it shows on the credit report since 2012 to current and all green not one late payment.
I think issue is i have to few accounts as I have nothing bad on credit other than HPs
The summery when i make it bigger states this
You have few accounts that are in good standing.
Number of your accounts currently being paid as agreed
The FICO® Score considers the number of accounts showing on time payments. In your case this number is too low either because you have very few accounts or you've missed payments recently on some of your accounts or have accounts with derogatory indicators reported.
FICO High Achievers have an average of 6 accounts currently being paid as agreed.
I was think of doing self lender loan
Start by not blindly appoint for credit. You have “credit seeking behavior” listed which usually indicates a lot of applications, so if this is the case, it should stop.
Try out the prequalification for Siscover, CapOne, and Amex and see what they say. You may we’ll qualify for their cards. If so, I would open one (Disco would be my pick for the first one), and wait 3-6 months before checking prequals again to take a second card of your own. I’d also look into some sort of installment account such as a share-secured loan, as there is a bonus of sorts for having credit diversity.
After that, just garden for a year. Tend your accounts, use your cards and pay them in full each month (since your AU cards are reporting balances, let yours report zero). Let time do its thing and in a year you should be sitting pretty.
I don't need home loan as i paid cash for my house. I also have a car that is just 10 years old so i don't need auto loan also.
I wanted to garden for a while and not apply for more credit to build on what i already got, so i will take your advise and just sit on what i have and and build up history, hopefuly that will help.
*Few payments* is there because of limited history
While AU accounts are good for artificially inflating AAoA, they still do not over ride the fact there are literally "few" payments that can be attributed to primary card holder, in OP's case, three to four at most based on account opening dates.
If score increase is a goal, I guess SSL would help, but bottom line is always the same for those with limited history....let the accounts age. You increase the score by not applying for new credit.
There is no way around the time factor.
In most cases, lender's algorithm will separate AU accounts and base approval/denial on profile's own merit, not presence of AU account.
Wait at least 6 months to a year and you'll be in much better place otherwise you'll end up with cards you'll be closing in the near future.
If it was me, I'd wait with future applications till you're in a better position and have more options.