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I need some direction.


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First off, thanks to everyone here who has shared their experiences; good and bad. I have learned a ton, gotten a home mortgage, and have a boatload of unsecured credit.

 

I started apping about 2 years ago, and my credit has grown as a result. Depending on who is listened to, it was over 700...for a minute. I believe I have too much (or just too many hard inquiries).

 

Scores, Me:

Experian Credit Tracker, via USAA - EX-655 EQ-660 TU-682

Discover - TU Fico 8 - 734

 

The Missus, EX.Cred Tracker, USAA - EX-656

Barclays - TU Fico 8 - 723

 

Our tradelines, their limits, and balances:

 

Navy Fed Cash Rewards VISA $10,000.00 $25,000.00 PenFed Visa $21,500.00 Harbor Lt. CU $5,000.00 NASA FCU $5,000.00 Logix FCU $3,000.00 Capital One $12.95 $5,750.00 Discover $1,500.00 Barclay $5,000.00 Kohl's $2,000.00 Lowe's store card $6,000.00 NFCU CLOC $9,255.70 $15,000.00 Amazon store card $3,100.00 Amex Delta $4,013.66 $18,000.00 Amex Blue Cash Every Day $2,000.00 Walmart $600.00 BOA Mastercard $1,816.15 $5,000.00 Citi AA Card $7,000.00 Totals $25,098.46 $130,450.00

 

 

We finally got a new mortgage in our name last July. Payment is $713 PITI, and we pay $1000/month since first payment.

Loan is a 15 year fixed VA at 2.99%.

 

There is also a fixed rate personal loan at 15.25%, started at $20k, and we owe $17k on it.

 

A little background: We were at our bottom in the recession. My credit scores were in the 400's. My wife filed a BK7 in 5/08. Long story, but every nickel we made went through the bank, and several parties were suing us. It was a choice to eat. Went on unemployment for the first time in my life, and I'm 49 now. That was miserable.

 

Fast forward to now: Our income is respectable. We drive a truck together, and net about $150k/year.

 

We tried, in vain, to upgrade our truck last year. Commercial truck lenders basically ignore someone with a BK. That counts us out for the next 2 years. We'll survive with our old one. However, when we applied, the truck dealers (2), use a shotgun approach to get you financed. There are numerous hard pulls on our reports as a result.

 

The PenFed and Citi credit cards were both approved this weekend. Our app for a NASA LOC was denied today. I was told the reason was too many inqiiries, plus delinquency. I'm assuming the latter is the wife's BK. There are zero collections on either report. The denial shocked me a little bit, but it's not like I'm not used to it.

 

Quite frankly, I like hearing a yes. I don't believe our utilization is horrible. I truly believe all of the credit, minus the loan, will be paid off by early summer. Not even sure why I apped for the Citi. The PenFed was because I keep reading about the love stories here, and I happened to pass a branch on a base last week. Someone here mentioned 0% on a balance transfer there. Good idea?

 

I guess my questions are this: If you were me, what cards do I garden? I know you'll say to stop apping....everywhere. I think that goes without saying. Should I cancel any of them? Leave them alone?

 

My goal is to buy a new truck in 2018. We have a track record, with a not-so-savory lender (higher-than-market interest). They want us back....badly. We are a great risk for them. We're not doing it again. New purchase will probably be somewhere in the $250k range. We realize that we'll have to put about $50k down. I want scores to be as perfect as possible. Obviously, not carrying any other debt than the mortgage will be best.

 

What would you do if you were me?

 

Thanks in advance. Again, thanks for everything so far. Most of this started with a generous approval from Navy Fed, with information I got from here. Thanks for that.

 

 

 

 

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Personally, I wouldn't get rid of any cards, unless they have annual fees. It won't help you to get rid of them from a score perspective (provided you don't max them out of course)

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