To maximize your Fico scores you need 3 revolvers and 1installment so I would like into getting an installment loan.
I’m new to the forums, even though I’ve been reading them for several months. I recently started working on my credit about 8 months ago and needing to know what my next steps should be.
I started at 575, and I’m now as of today 695, according to Experian Fico 8. I have 2 credit cards, both with Capital One (Platinum - $500 CL & Quicksilver - $300 CL). I have 1 late payment from 2017 on the Quicksilver but that’s it and recently wrote a goodwill letter to see if they will take it off. Just hopeful thinking really, never know until you try. My utilization is 13% on the Platinum and zero balance on the Quicksilver. I have no installment loans.
So, what should my next steps be to fatten up and improve my credit worthiness?
Welcome Gina to the forums. Cap1 isnt known to be a forgiver on lates. After 2 yrs it stings a lot less than when it hit. Try to get you util below 8.99% or even $10 bucks a month. You could go for Self Lender or a local credit union for a secured installment loan. 1 more card 6 months after your last app will get you to the FICO bonus of 3 cards and an installment loan. Give Disco pre-qual a shot. See if you get an offer. Your on the right path. Just need a loan and another card. But dont go crazy trying in a week. Spread it out. Good Luck!