I have been repairing my credit since Nov 2015 and have made good progress
538(EQ), 519(TU), 550(EX) -> 640(EX), 665(TU), 635(EX)
I have 2-3 baddies that I am still working on getting removed, and hopefully can get those squared away.
I currently have the following credit lines
2 secured cards (Cap One – $ 3000; SDFCU – $ 500) – Utilization <5%
2 Unsecured Cards (Citi Double cash – $ 2000; Amazon Prime Store – $ 800) – Utilization <5%
1 personal loan ($ 1000 – $ 29/ month with 2.5 years to go) – got this so I can have an installment mix on my profile.
All of these are less than a year old (some even less than 6 months)
The questions are as follows.
1. I have offers from USAA and Cap One for unsecured cards….should I take advantage? I am worried that additional new credit will trash my score, but at the same time I really would like to increase the amount of available credit therefore further limiting my utiliaztion. I eventually want to get a couple unsecured cards, so that I can close out the secured cards and get money back from those. Basically what is the trade off between (time and hard pulls vs. increased credit and lower utilization)
2. I have an obscene car lease (Uber buying program) that I got while my credit was in the toilet, I would like to transfer this to a tradition bank loan. What are thoughts on this?
Any help/ thoughts are greatly appreciated.