Credit Advice please!?

719 is a good rate. Make sure you get a fixed rate for 30 year mortgatr with an open end which means you can pay down the mortgage any time. On the first half of the life on a mortgage, you pay about 70% in interest. Plus there is not 10 or 15 day grace period, that's only to avoid the late fee which was set up by FDIC. If your paymen t is due on the first and you pay it on the 10th, you are charged 10 days of add'l interest, called per-diem. As suggested do not close any credit cards.

Do not open any new credit card accounts

Do not close your old accounts (it might actually lower your score by making it appear that you have a shorter credit history).

Do use your cards, but don't have a balance higher than 25% of the limit of any single card or all of them together. 10% or less is better. (the biggest risk from letting accounts be inactive is that your lenders might close them and again this might lower your score).

Do not be late on any payments

Check your credit reports from all 3 bureaus to make sure there are not any suprises when you decide to purchase

Follow this and your score should be higher soon.

close 2 of the credit cards. I dont know what your income is but 2 of them are dead wood. Kick back and show zero balance on the other 2 or a modest balance that you can afford to pay off. All you have to do then is sit back and watch your score rise...it wont be much but itll help. Your buying power will hopefully rise on your Loan to value and theres what most lenders really care about anyway aside from a score. Good luck. PS...it takes about 3-6 months to show a zero balance consistantly on all 3 bureaus.

I have two credit cards and I charge everything I buy to my Discover card and when the statement comes in I pay it off and at the end of the year I get money back so in other words Discover card pays me to use their card,and my Credit score is over 800 and the reason I have two cards is a few places don't take Discover so I use my Master card. But as soon as the Statement comes in I pay them in full. And if I can't afford to pay cash for something , Then I don't buy it

Good Luck ,and I think you can do it

Jaynarie,

Congratulations on wanting to improve your good score. What ever you do don't close any of those credit cards and don't purchase any big items such as a car before buying the house.

Nobody gives you a mortgage just because you have a high credit score. They do a public records search for judgments. They actually read the report looking for credit usage that is normal for your situation in life. They want to see capacity to repay and they want you to feel involved, so they look at your down payment.

Your score went down because you more beneficial your debt to income ratio with the acquisition of the vehicle. this can be a aspect contained in the credit status. by utilising last the mastercard money owed and paying of the soundness, your score will improve slightly notwithstanding it takes sometime. proceed to payoff your charge playing cards and close them out. yet also, proceed to make the funds on time. verify your score in about one hundred eighty days from now and also you may hit upon it has more beneficial.