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markhofstetter

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550 credit score what do i do now to buy a home?
so I made some bad choices have Lexington law and they have helped clear up my credit i would like to buy a home soon but for about six months my credit hasn’t gone up in the slightest way

i have 2 credit cards with a 1 year average 100 payments on time
less than 6 grand in college debt that i pay monthly

I’m trying to figure out what my next step is to increase my credit i own a car and have it payed off do i get another credit card? A car loan? HELP What can i do to increase my credit?

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Time heals all wounds...

You will have to build your credit.

I suggest start with applying for a secured credit card that reports your info to all 3 bureaus. After about a year, you can switch to a regular card (no security deposit). The problem is you have to be selective, because too many inquiries will be counterproductive. Try to  get a retail card (Dillards, Kohl's, etc) or a gas card (Texaco, Valero), and a universal card (VISA, MasterCard). Your interest rates will be high, but that's because you are seen as a high-risk borrower.

But after about a year or so, you can see some improvement in your score, provided you make payments on time, and you keep the utilization of your cards to less than 25%. Discipline and patience will pay off...

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