lovelifeparties Posted July 25, 2007 Report Share Posted July 25, 2007 First I want to thank everyone on all the forums for the wonderful information, you have helped me time and time again! THANKS!!I've been using this site since 2004, have increased my score 100+ points using the DV techniques and have bought my first home. I have to consider myself a credit junkie! (There's worse addictions right?)My question for you credit guru's is this...am I on track with my current thinking? I started out with a high interest high yearly fee Orchard Bank CC which I've had a little over two years with no lates. I've called them and asked them to lower the APR or the fee, they said to apply for a different Orchard Bank card, they couldn't help me. Oooookay. I've decided to keep them, pay off my balance and not use this 'not so great' card any longer as I need the credit history. Moving on....A year later I secured a Home Depot (Citi) CC 2700 CL, WFNNB (Blair) 1200 CL, WFNNB (VC Furniture) 2750 CL. Recently, at the two year rebuild mark I miraculously was approved for the Discover More card 2000 CL and a CrapOne 300 CL. When and what is my next move? Other than low balances and timely payments? Is this enough tradelines? Too many? I have no installment accounts (other than mortgage) , would a car loan help? FICO July 07 EQ 663, EX 631, TU 6672 derog accounts (Can't seem to shake them), one paid judgementThanks for your input. GREATLY appreciated. Link to comment Share on other sites More sharing options...
willingtocope Posted July 25, 2007 Report Share Posted July 25, 2007 If you've already got your house, don't stress about your scores. If you've already got CC's, pay them off and put them in your sock drawer. Maybe keep one low interest card in your wallet for emergencys. If you need a car, buy one...but again, you don't need to raise your scores...(Truthfully, the only people that really care about your credit scores are the people that want to make money off lending you money. Don't play their game) Link to comment Share on other sites More sharing options...
Amerikaner83 Posted July 26, 2007 Report Share Posted July 26, 2007 What he said.You obviously have a lot of spending power at your disposal if you need it.....do you NEED a car loan? Link to comment Share on other sites More sharing options...
lovelifeparties Posted July 26, 2007 Author Report Share Posted July 26, 2007 I appreciate your responses, and I see the truth in both. It is just so hard to stop being concerned about something I've worked consistently on the past two years to improve. I have a goal of reaching 700's in my scores and then I hope to put it aside. Hopefully then I will be ready to 'not play their game'. I just learned the rules! I'm on the fence about buying a car. For all the reasons. Yes, I could use a nicer/more reliable car, yes I work hard and can afford one. But I'm not one of those people who NEEDS a pretty car, and I'm not crazy about another monthly payment plus higher insurance bills. That's why the question, do you think it will improve my scores? It may help the decision.THANKS Link to comment Share on other sites More sharing options...
willingtocope Posted July 26, 2007 Report Share Posted July 26, 2007 In the grand scheme of things, a car loan is easier to obtain the other types because its secured by the car. Don't pay, and they repo the car. And, having a "paying as agreed" car loan on your reports does improve your scores...a bit...its difficult to be precise about how much. Link to comment Share on other sites More sharing options...
Amerikaner83 Posted July 31, 2007 Report Share Posted July 31, 2007 I appreciate your responses, and I see the truth in both. It is just so hard to stop being concerned about something I've worked consistently on the past two years to improve. I have a goal of reaching 700's in my scores and then I hope to put it aside.LOL that's exactly my strategy as well. 700 by New Years Day, car and house in 2 years. I dread the day I have no more credit issues to clean up. Link to comment Share on other sites More sharing options...
lovelifeparties Posted August 12, 2007 Author Report Share Posted August 12, 2007 Thank you for your input, I appreciate your opinions and comments. Link to comment Share on other sites More sharing options...
chilton1 Posted August 12, 2007 Report Share Posted August 12, 2007 LOL that's exactly my strategy as well. 700 by New Years Day, car and house in 2 years. I dread the day I have no more credit issues to clean up.Withdrawal. :evil: 8-) Link to comment Share on other sites More sharing options...
lovelifeparties Posted December 4, 2007 Author Report Share Posted December 4, 2007 Winter encouraged me to take the plunge into the shark pool and buy a car. I'm referring to car salesmen of course. No offense to the profession, but damn are they slick.Bought a car two weeks ago. The credit bureau is already reporting the loan and I haven't received any paperwork in the mail yet from the bank. Priorities!My scored took a 20 point dive across the board. Either for the inquiries or the new loan, probably both. I'll keep you posted on whether it goes up over time with current payments.Thanks again! Link to comment Share on other sites More sharing options...
Recommended Posts