Question about rebuilding credit

Question about rebuilding creditQuestion about rebuilding credit
PhilipWen asked 5 years ago

Starting rebuilding last may. Have went from a score of 534 to a score of 660 on CK and 679 on my monthly fico score from my current bank (DCU).


Right now I have about 11 CC’s with a “credit builder loan”. I don’t use some of these cards anymore. I assume to not cancel them or it could hit my score hard?


I’m trying to think ahead and what i’ll even need in the future for cards.


Right now I have mostly store cards with a few big names cards along with 2 secured cards that I plan on keeping until they unsecure.


My overall question is… Should I cancel any of these anytime soon? I have a few that mean nothing to me and probably wont in the near future (EX: Fingerhut, Overstock, JCPenny, etc).


What route should I take? I don’t want to hurt my AAOA?


I don’t make “great money” so I know I won’t need any crazy cards anytime soon, but what should my overall need? 3-6 cards with good limits? A Mixture of cards just to keep my utilization down, even though its pretty low anyway?


My score has been around the same past few months. I don’t max my cards out, just use them for things I would normally buy and mostly pay the amount I spend back before the statement cuts. I’m trying to get my score to 700 by spring so I can buy a brand new car which is my ultimate goal.


Any advice welcomed.


Thank you!!

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