Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Report
Profile Image

Question By
rwatersh2o

1 Contribution
1 Person Helped
Open an account to raise score?
Every section of my credit report has an A except my credit accounts due to only having 4 credit lines. Would it help my credit report to open a card.

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
15 Contributions
16 People Helped
Most Helpful Response

What is your FICO score?

Helpful to 1 out of 1 people

I would first get your true FICO score (not a FAKO like what is on this site) and go from there.  If you are 740 and above, your chances are of getting a very low interest rate auto loan are solid and I would recommend not opening any new trade lines.  If you are below 740, then you could consider opening a credit card to help boost your score, but I know 2 people who have credit scores north of 800 and each has only one credit card, one mortgage, and one car loan.  Your FICO score will also bump up eventually as the auto loan ages - as FICO likes to see a mix of credit reporting (revolving, installment). 

1 Contribution
1 Person Helped

Helpful to 1 out of 1 people

At the current time I do not have a morgage as my home does not have a loan.  No car loan as my cars are paid off.  I have 4 open accounts with a 10% utilization peak as they are paid off each month.  I was hopeing to raise my score a little to get a good loan on a truck I have been thinking of getting.

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.