just a mortgage now - where do I go from here?

[randomdjs]

Long story short.  20 year credit history - FICO likely in the mid 700s until 2008.  In 08 went into default on mortgage, three credit cards closed by lender, one a charge off.  2nd mortgage line of credit closed like many others. Mortgage was modified and has been current for 4 years.  One current installment loan open for 3k and current.   Regarding the three credit cards closed, all were fully paid off without negotiation and are listed as pay as agreed.  So.....current scores are in the 680+ range.   From credit reporting sites it seems my biggest negative, othere than the existing neg pays on cc and mtg, is the fact that I have no current open CC.  I have worked hard to get back to current 'good' scores and want to be responsible with the accounts we open and when.  Any pointers?  From equifax interactive scoring model it appears that if i open new card and get utilization down from current 98% (0/0 ?) to 10%, score will jump another 50 pts.

[pizzadude]

Welcome to the forums !

Have you pulled a FICO score to know where you currently stand ?   Are you saying that you have no open credit cards now ?   If that is the case then I would recommend that you open at least 2 credit cards ~ FICO scoring likes to see several open revolving accounts.

[randomdjs]

yes - EQ 689, EX690, TU 650.  I am worred I am going to get rejected due to the cards being closed in 08.  One was Chase, one was a credit union and one was Macys - though Macys was never closed - I was told I needed to 'reopen' this card reported as current and PAA.

[randomdjs]

BTW , thx for replying to my post so soon.  much appreciated.  also - if i were to open 2 new accounts, wouldnt my score drop due to new accounts being opened.  As you might tell, fear is the thing driving me/holding back after the abyss of 08.

[pizzadude]

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@randomdjs wrote:

BTW , thx for replying to my post so soon.  much appreciated.  also - if i were to open 2 new accounts, wouldnt my score drop due to new accounts being opened.  As you might tell, fear is the thing driving me/holding back after the abyss of 08.

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You average age of accounts ( AAoA ) might drop ~ however revolving utilization is a major component of FICO scoring and IMO you would probably see a net gain from having open credit cards reporting with minimal utilization.