Scores are about 'managing' debt... They don't reward you for being responsible and not getting INTO debt, unfortunately
-You're right in that you have to USE that card... if you're paying it off the next day and not letting the statement post with a balance, it won't be reported as being used. Let the balance ride until the statement posts and then pay it off (you still won't pay interest). FICO is reporting "ok" as in that you didn't miss a payment... If you have a card with a $0 balance that you never touch, it will also be reported as "ok".
- If you open another account, that's a double-edged sword. It will increase your available credit which always helps, but it will also pull your average account age down. If you go that route, I would go with the Citi Double Cash; the rewards are great. Just autopay some of your bills on it.
- Mix of loans, I think they like to see auto loans (correct me if I'm wrong, someone). Cars and mortgages are 'secured debt' vs. personal loans & CCs that are 'unsecured debt'. Obviously you don't wanna buy a car you don't need, but if you were in the market for it, getting a very low interest loan on one instead of paying cash would help your score.
I'm totally interested in this Lexington Law place though. Got a 'nuisance collection' I could use removed... Anyone else have input on them?
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