Questions and a tiny bit of bragging
(Screenshots from TransUnion Fico8 to show growth over a 12 month period.)
I know my score isn't great. However, I'm proud of the growth in a short time.
I recently paid off roughly 6 collections ranging from $205 - $1600 each. Now the only thing left on my report are my current car payment (with a high interest rate) and student loans. The student loans are not consolidated, which leads me to my first question. Should I consolidate them so it doesn't look like I truly have 20 open lines?
Next up, I am at a point in life where I can make monthly payments on a credit card long term. However, I never learned how to manage a credit card usage. Now that I'm educated I feel ready and able to open a revolving account. I only have options of getting a secured card. Reading back through old posts it doesn't seem to matter the company you go with but Capitol One and Discover are great places to start. This leads me into my next question, what amount is best to start with? Is there any benefit to having a $200 secure line vs. a $50 secure line?
And my final question, going back to my car payment. My current interest rate is over 20%. Is it realistic to refinance at a lower interest rate and not extend my lease? If so, where should I start?