reguarding credit report - should I?

2013-05-13 6:59 pm

I have 2 car loans and 1 credit card. trying to build my credit after a bankr, and short sale in 2010.
scores are 680 or so.
I am taking an FHA loan out in dec and I think I need 3 lines of credit things going on. I have that now but do I need to have 3 open lines of credit in dec? I can pay off 1 of my car loans right now. will that hurt or help my credit score for December?

no other debt and I have had a $80K permanent job for the last 3 years now.

更新1:

yes BD - I have been working on my credit rating for 2 years now. I pay my bills on time and my credit card (limit of 2000) I keep below 30%. I use it constantly thou to gain reward pts.

回答 (2)

bdancer222

2013-05-13 7:06 pm

✔ 最佳答案

Paid/closed loans remain on your credit report for 10 years. They just don't count as much in your FICO score as open, active accounts. Paying off the loan early will likely drop your score.

It's a bad idea to open or close any accounts within 6 months of applying for a mortgage. December may be more than 6 months away, but I wouldn't pay off that car loan till after you close the new mortgage.

Make sure you use the credit card and pay the statement balance in full every month. You have to show utilization to build credit and you don't want to carry a balance.

參考: BD

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[匿名]

2013-05-14 3:37 am

A credit score is based on a 12 month activity and goes up 5 to 10% per month providing you are paying on time. If you been using the credit card for the past 24 months, you should have a good score between 660/749. I see no problem getting approved. You do not have to pay off that car loan unless they say you have to.

參考: Retired bill collector 35 years

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