Huge Credit Score Jump

Quote from kevspace2 : I started this thread a few months ago. Basically, I got a credit card after not having any for three years. I've had about $100-$120 balances both months on the $500 limit card. My credit score understandably went down a few points for two months, but I checked my Credit Karma score today, after having the card for two months and seeing a decline in the score, I jumped seventy points from mid 600's into the low 700's. I'm understandably excited. I know CK is an *estimate* of what your FICO score might be, so I was wondering if my FICO score could have jumped this high as well. Would this be a good time to get my second card so I have two lines of credit? I'm looking to purchase property in the next year or two and if my score is really doing this well I can concentrate on the non-credit side (saving for a down payment, etc) Thanks guys, Kevin

lol...take a time machine back to the days of easy credit.

as of '11, what bank would give a mortgage to a guy who's got one or two recently opened lines, & credit limits resembling those given to HS kids?

When you were young, you should have:

opened a few major CC's each yr & kept asking for limit increases.

gotten a few store cards & an installment loan or two.

had your dad add you to his oldest accounts, & co-sign a real-estate loan for you.

nowadays, you'd have a tremendous FICO & a sophisticated credit history. banks would be begging to give you credit.

all is not lost, though. if you've got a huge down payment, high income & a credible co-signer, you'll probably get what you're after.

but an extra CC wouldn't make any difference, other than to cause uproarious laughter from the loan officer, when he saw another recent account with a $500 limit.

Quote from lickeals : lol...take a time machine back to the days of easy credit. as of '11, what bank would give a mortgage to a guy who's got one or two recently opened lines, & credit limits resembling those given to HS kids? When you were young, you should have: opened a few major CC's each yr & kept asking for limit increases. gotten a few store cards & an installment loan or two. had your dad add you to his oldest accounts, & co-sign a real-estate loan for you. nowadays, you'd have a tremendous FICO & a sophisticated credit history. banks would be begging to give you credit. all is not lost, though. if you've got a huge down payment, high income & a credible co-signer, you'll probably get what you're after. but an extra CC wouldn't make any difference, other than to cause uproarious laughter from the loan officer, when he saw another recent account with a $500 limit.

Time machines do not exist.