I have been reading these forums looking for tips. I feel like every situation is unique and the problem is that it is clear what works for some doesn’t always apply. My goal of joining here is to learn from the “pros” and work towards getting bigger limits. Not because I *need* bigger limits but it would be nice to be considered more credit worthy. My goal is to go from my current “Fair” credit up to “Excellent” credit this year.
A bit of background, I used to be really bad with money. I allowed myself to get into serious debt, it got to the point where even though my income kept growing my debt kept growing too. In 2014 I decided to start trying to fix this. I took care of all my old debt, sadly there are two collection items on my credit report, and while they show a zero balance as they have been paid in full I am sure it still hurts my credit today. They were both last updated in 2014. My first question: What if any are my options to help get these removed?
My score sits at 683 today. I was able to re-finance my car loan for a 3% APR (high compared to those with excellent credit but way better than what I had before, again I bought the car when I had bad credit and was just blowing my money because I could). I also have gotten a few new cards in the last year.
I now have the following:
$ 4000 AAadvantage World Mastercard (March 2016 — Most recent, they kept sending me things in the mail, I figured since I fly American a fair amount it was worth it if they would give me one)
$ 5000 CSP (December 2015 — Credit Karma said I was likely to be approved, so I got it.
$ 1000 Discover IT Chrome ( Another Credit Karma suggestion Janurary 2016)
$ 2500 Capital One QuickSilver One (Feburary 2015 — after I noticed my score had increased on credit karma I applied and got it)
$ 3000 Capital One Platinum (Secured Card that I got in 2012)
$ 1000 Motorola Online Store Card (September 2015 – applied on a whim was going to buy a smartwatch with “cash” used to card and paid it in full)
I have no interest in getting anymore cards, and I understand that because 4 of the cards are so new it will take awhile and there is the short term hit from the recent hard inquiries. Because at this point I have no interest in getting more credit cards I want to focus on A) figuring out how to get the two old collections things gone and B) figuring out the best tips to get my score up, would 100 more points before March 2017 be doable and how?