@Anonymous wrote:Below is current info on my 3-credit reports:
TU - 649
EQ - 621
EX - 594
TU & EQ both showed Total open balances - $1,651
Credit Cards - $426
Collections - 0
Student Loans - 0
Other Loans - $1,225
Auto Loans - 0
Home Loans - 0
Account: C/Bal Total Credit Status
Premier c/c $396 $500 Current (c/c)
Nationwide ACC $30 $1,500 Current (retail)
Capital One $126 $300 Current (c/c)
SYNCB/JC Penneys $0 $500 Current (retail)
MAJR Fin. Corp. $0 $5,000 Current (retail)
CARMEL Financial $0 $5,000 Current (retail)
America First CU $1,225 $3,248 Current (Loan)
Military Star $0 $2,000 Current (MilStar Card)
Credit One $0 $300 Charge-off/Collection
You can improve your scores by reducing the reported balances, in this order:
1. Premier card to $140
2. Capital One to $84
3. American First to $909
Since you're interested in a mortgage you should then try to let only one card report a small balance, and have all the other cards report zero balances. Mortgage scores like a lot of zero balances.
Then all you can do is work on getting rid of the negatives. They are the main thing holding your scores down.
If you want a mortgage in the near future, postpone applying for a vehicle loan until after you have the mortgage.
