Decent Credit... what next?

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ashleyAMX
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Decent Credit... what next?

Postby ashleyAMX » Sun Feb 06, 2011 4:16 pm

I pulled my credit scores today. 700 EQ 700 EX 712 TU. I would like higher scores, but I'm already set with the number of trade lines I have 1 installment and 2 c.c., I don't really need another credit card.What should I do? Open one last card or sit it out and wait for some inquires to fall off and for my accounts to age. :confused: My credit history just hit 3 years old.


ashleyAMX
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Postby ashleyAMX » Sun Feb 06, 2011 4:18 pm

Correction: 1 installment 1 credit card 1 charge card.

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Mogul of Pineapples
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Postby Mogul of Pineapples » Sun Feb 06, 2011 8:46 pm

Are you actively using both cards and spending a decent amount on them?
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ashleyAMX
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Postby ashleyAMX » Mon Feb 07, 2011 8:13 am

I only use them. I use my zync card everyday for purchases and the capital one card when amex isn't excepted. Sidenote: I had know idea how crappy capital one was before I got it. :-/

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Mogul of Pineapples
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Postby Mogul of Pineapples » Tue Feb 15, 2011 10:36 pm

What about the installment loan - how long have you had it and what is the monthly payment?
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

Current Cards:
American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
Primary Everyday Card: American Express Blue Cash
Primary Travel Card: Chase Sapphire Preferred

ashleyAMX
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Postby ashleyAMX » Tue Feb 15, 2011 10:40 pm

its been 25 months on the installment, payments are 271.. but im refinancing for a better interest rate so you can say 232 now.

creditcruncher
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Postby creditcruncher » Tue Feb 15, 2011 11:20 pm

How many inquiries do you have and how far apart in time are they? If you don't mind my asking of course. I've found that this has an impact on whether you get accepted or declined, even if you have great scores.

ashleyAMX
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Postby ashleyAMX » Thu Feb 17, 2011 7:38 am

a ton. well more like 8, my best guess was to sit tight and let them drop off in two years? that should be a significant improvement...

pixiedust
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Postby pixiedust » Sat Feb 19, 2011 1:18 am

THe credit inquiries effect on credit score is a newer thing I did not know about until a few months ago. What is the reasoning behind penalizing us each time our credit report is checked? The other parts of the credit score make sense but not that.

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Mogul of Pineapples
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Postby Mogul of Pineapples » Thu Feb 24, 2011 6:36 pm

ashleyAMX wrote:a ton. well more like 8, my best guess was to sit tight and let them drop off in two years? that should be a significant improvement...


From my understand the hard pulls stay 2 years but aren't counted against your score past the first. That might be the issue because with an installment loan over 2 years old plus your credit cards I would think it would be 10 or 20 higher. Was your first credit card 3 years ago?
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

Current Cards:
American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
Primary Everyday Card: American Express Blue Cash
Primary Travel Card: Chase Sapphire Preferred



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