I moved to the US in September 2018, and only recently got a credit score, which is now 639, it would be great if I could get it above 700 by the end of January 2019…
I have two credit cards totalling 25k, both are 12 months at 0% on new purchases - I thought by using these credit limits with 0% and keeping more cash for a down payment on a mortgage would be a good idea - However, I’m now thinking it’s better to pay most of this balance off and have less for a mortgage down payment?
If I was to pay off say 15-20k, would this make such a significant impact on my score to get me a better mortgage rate?
I also bought a couple new cars which has a balance of 70k, I can double monthly payments (1.5k to 3k per month) on this debt if it’s going to help my score also?!
Any advice would be much appreciated!