soflo wrote:How can I get my score up??
Start here and give the bigger slices priority.http://www.myfico.com/crediteducation/whatsinyourscore.aspx
If you have derogs then get them addressed as they impact your Payment History and will always have a major effect. The other aspect to Payment History just takes time and responsible usage as you have to build positive history over time to establish a track record for how you manage your credit.
If your utilization (Amounts Owed) is high then get it down.
AAoA (Length of Credit History) just takes time to build.
New Credit is where you take the hits from the hard pulls. Hard pulls just take time to taper and fall off but it's a relatively short amount of time. IIRC they're not factored in after a year and fall off after 2 years.
Types of Credit Used is based on the variety of types of credit accounts that you have reporting but it's generally not worth simply picking up another type for scoring purposes. Add them when you need them.
soflo wrote:Reasons for denying my application at dealers that I noticed:
* Too many inquires the past 12 months.
* Debt is more than allowed loans.
* Past delequency (From a student loan I didn't know I had to start paying I was still in school)
* Accounts not established long enough.
The reasons are fairly straightforward as well.
If your credit isn't great then don't go around repeatedly applying for credit. Inquiries tend to cited more often as a reason for denial for those with thin and/or poor credit. As I've built my credit I've been able to add accounts without seeing any concern over the number of my inquiries when that same number would have been cited as a reason when my credit was in much worse shape.
If debt is more than allowed loans then get it down.
If you didn't know the terms of a credit account then make sure you read and understand in future. Avoid derogs at all costs as, again, they always have a major impact. It is also a real hassle to get rid of them -- when possible to begin with. I've had derogs and that has been enough to make me ensure that I don't encounter them again. I was able to negotiate PFD's but they're not always an option. If you can't get derogs addressed then they can haunt you for a long time.
Accounts not established long enough just takes time.