I have a long history of failing to pay things off and running up debt. But ive been doing realy good doing just the opposite latley.
The condo I rent has been reporting to one of the 3 so I have a solid 9 months of ontime payments plus a few months of positive credit card payment. So this has helped me greatly with my credit score but It needs a lot of work
Im between 505 – 533 right now. So my plan is the following:
Opened USAA Secured card and have kept it under 10% paid on time monthly $ 300 credit limit (my two bills go on the card)
Open Capital One Secured card with $ 1k balance and either use it for fuel and insurance or dont use it for anything
Take out secured loan that sits in its own account and auto deducts. I wanted to pay more each month to pay it off sooner depending on terms.
My income has inscreaed to over 3x my monthly expenses and i decided against moving to a nicer place because this current place reports like it does. Also the low cost allows me to have a lot of extra cash that i’ve bee saving.
Does this seem like a good plan to effectivly increase my credit score. Id like to use the VA Home Loan to buy a home in about 16 months. I thought it might show that Im good with my money now if i have a lot of credit but hardly any utilized while paying everything on time.