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What Should I Do Next?


What Should I Do Next?

Hello Everyone!

 I never really paid attention to credit scores before recently, when I realized that I was making a mistake.The 0% interest promotions I have been taking advantage of, maxing out my big box store cards have been messing up my utilization.  I paid down my cards, and have been silently stalking through the MyFICO forums since last November, trying to understand how credit works in detail.


I have been struck by the knowledge and helpfulness of so many contributors.  I recently signed up for an account so that I could ask questions, and share any bits of knowledge I have learned that might help others.


I am working on repairing one item on my credit.  I also want to build my credit.  I have a few scores:

FAKO TU w/ CreditKarma of 674 - Feb 2012

FAKO CreditSesame Score  658 - Feb 2012

MyFICO EQ pulled                   654 - Jan 2012

Equifax Credit Score Card     725-759).

I am joining PSECU for an Experian FICO score (frustrated with the hard pull it gives me, but I think it's worth it.).


I am not sure what I should do next.   I have revolving debt with 2 store cards.  I thought I should I focus on getting a Major CC, just to have one available, but for scorebuilding purposes are those store cards sufficient for now?  I made a chart so I can understand the information I have here in front of me, and see it in one glance.  I pasted it below.


Any recommendations would be greatly appreciated.  And any explanation of your reasoning would help me understand.


Thanks in advance!


- NearlyThere


table of credit reports

Message 1 of 6
Moderator Emeritus

Re: What Should I Do Next?

If you have no plans to app for anything major in the next year or so, then I'd consider a 3rd.

Message 2 of 6

Re: What Should I Do Next?

I don't have immediate plans to app for anything major.  What would I do if I did plan to app for a mortgage refinance?

Message 3 of 6
Moderator Emeritus

Re: What Should I Do Next?

Some lenders get skiddish with new accounts. I think you might see a small net increase if added, though. If I had your credit, I would try to reopen a revolving account as opposed to a new one. Long shot but you never know.

Message 4 of 6

Re: What Should I Do Next?

I also meant to ask:  is this credit history considered thick or thin? 

Message 5 of 6

Re: What Should I Do Next?

A lot of my tradelines are not reporting to Equifax.  Both my mortgage company and the credit union that has my installment loan say that they are reporting every month.  How do I get Equifax to actually post the tradelines that are reporting?

Message 6 of 6