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Hello Reddit,
Final 12 months, I received critical about fixing my credit score and paying off playing cards that I maxed out supporting an ex boyfriend, getting back from excessive 5 determine debt *cringe*. I began my very own consulting enterprise and juggle three shoppers, billing 70 hours per week. It’s been brutal. However I’m sooo shut. I want some recommendation relating to a pair close to time period targets.
I’m on monitor to repay every part by November 5, 2021. I’ve two massive monetary targets developing. In mid-August, I wish to apply for a Chase Sapphire Most popular card. The opposite massive purpose is to use for a mortgage in March 2022.
For the Chase card, will I be denied because of the two closed Chase playing cards that I’m making funds on?
My query is finest assist my credit score rating (significantly the FICO rating used for mortgages) balancing mixture of credit score and age of credit score. I wish to shut three accounts (Citibank Comentity, Synchrony Google, and Synchrony Sony). I don’t use these, they haven’t any perks, and they’re hurting my age of credit score. My concern is that by closing them I would harm mixture of credit score. How ought to I’m going about this?
Additionally, I’m holding off on paying off my pupil mortgage because of the forbearance, however after that stops, ought to I pay it off? It’s considered one of my oldest accounts. Might I pay most of it off and preserve a small steadiness? Simulators present a ten level hit on Fico 8.
My Vantage 3.0 Credit score Rating is: 756
My FICO8 Experian Credit score Rating is: 759
My Fico 5,4,2 (mortgage from myfico.com website): 767
Notice the balances are all decrease, however that is what has been reported to the reporting businesses.
Thanks a lot. Tried to err on the aspect of an excessive amount of element as a substitute of too little, nevertheless it’s quite a bit. TIA.
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