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How should I prioritize these 4 credit issues?

Posted on 7/13/21 at 2:03 pm
Posted by Tarik One
Member since May 2016
2094 posts
Posted on 7/13/21 at 2:03 pm
Planning on getting a house if and when the market ever picks up again. In the meantime I'm trying to get my credit together (as well as save some extra cash) so I will be fully prepared when things open up.

1. Ratio of balance to limit on bank revolving other revolving accounts too high

2. Too few accounts currently paid as agreed

3. Time since most recent account opening is too short

4. Lack of recent installment loan information

Or are there just to many variables to consider to even align them?
Posted by Kankles
Member since Dec 2012
5917 posts
Posted on 7/13/21 at 2:04 pm to
Is your credit score north of 350?
Posted by Chad504boy
4 posts
Member since Feb 2005
166522 posts
Posted on 7/13/21 at 2:04 pm to
you're waiting for market to pick up to get a house?
Posted by 14&Counting
Eugene, OR
Member since Jul 2012
37711 posts
Posted on 7/13/21 at 2:06 pm to
The only one you can immediately control is #1
Posted by Trout Bandit
Baton Rouge, LA
Member since Dec 2012
13324 posts
Posted on 7/13/21 at 2:06 pm to
Stop missing payments for starters.
Posted by andwesway
Zachary, LA
Member since Jun 2016
1525 posts
Posted on 7/13/21 at 2:08 pm to
Money Board!
Posted by Booyow
Member since Mar 2010
4010 posts
Posted on 7/13/21 at 2:08 pm to
Edited bc moved to Money Board. I’ll save my wit for the OT

Listen to the poster below me
This post was edited on 7/13/21 at 2:13 pm
Posted by 9Fiddy
19th Hole
Member since Jan 2007
64163 posts
Posted on 7/13/21 at 2:09 pm to
quote:

2. Too few accounts currently paid as agreed

Priority 1
quote:

. Ratio of balance to limit on bank revolving other revolving accounts too high


Priority 2
quote:

4. Lack of recent installment loan information

Priority 3
quote:

3. Time since most recent account opening is too short

Priority 4 and will be taken care of when you do priority 3
Posted by Sput
Member since Mar 2020
7984 posts
Posted on 7/13/21 at 2:40 pm to
quote:

2. Too few accounts currently paid as agreed


Worst red flag
This post was edited on 7/13/21 at 2:41 pm
Posted by LSUFanHouston
NOLA
Member since Jul 2009
37164 posts
Posted on 7/13/21 at 4:28 pm to
quote:

Too few accounts currently paid as agreed


Are you currently behind?

First thing is you need to get current on everything. Nothing else matters now until that is cleaned up.

Once that is cleaned up... try to pay down some debt if you can to get your credit score up.
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