So my goal i s to be a home owner within 2 years, which I beileve to be an achieveable goal. I started in 2014 (i work at a car dealership) with a 0 score, 4xx and 535, I am now TU 589, EQ 584, and EX 600. I did a rehab program for my very high student loan debt that I had never paid on, which bumped me to a 685 according to Karma, then it dropped to 573 after two collections hit that I believe were mistakes, I moved out of an apartment and requested cable and power to be shut off and paid my bills, I didn’t follow up and thus found them in collections for about 225 each. I have 4 Credit cards, one secured cap one I got in may of 2014, one gm card, and two quick silvers I got around may – june of this year, I was having issues with my previous car and had about maxed out all four cards, still have 0 % interest on the QS cap 1 cards, in the last month I paid off my secured card $ 650, and my GM card which has not hit my credit as of yet about $ 300. The balance of my QS cards is about $ 475 / $ 500 limit on both, I plan to pay them off in the next two months and rotate the 4 cards for gas each week and pay it off as I use the next. My question is, should I pay off the credit cards left first or try and do some sort of PFD on my two collections, which will carry more weight on my scores?
I did also get new car (lease) and have had perfect payment history on everything cc wise and lease wise since started in may of 14 on the first secured card. I do have quite a few more baddies on my credit file that are 3-5 years old. I am sorry for the rambling as it is late to me and am looking for a nice plan of attack that will boost my credit the quickest and smartest way, basically do I pay off my two cap 1 QS cards first, or should I hit the two most recent collections first? I know I haven’t given every bit of data on my credit report situation but I believe I have given the most important aspects of what I am trying to do and what I think will have the greatest impact the quickest.
While doing this I am also trying to slowly build up a savings account towards a down payment on the house in a few years. I do not make a lot of money as I am still farirly new to the car business, but I do get bonus money for the new vehicles I sell and that is what I am using to pay things down. Once again I am sorry for the inconsistant rambling but I do request information on what is more important, paying of recent collections Feb of 2015, or paying off my cards first and then going after the collection accounts. Another goal is to be a 700 by feb of 2016, where I am pretty sure I can have all my revolving debt gone, and those two collections paid off.