Quick questions for the Credit guru’s outs there, I recently spoke with a credit advisor who informed me that it usually takes credit lines 6 months to mature on your credit report. I have a credit card that has been active for 2 months and a car loan for 3 months, what he said is that I would see an increase in my score once they hit the 6 month mark and “mature”. Is that the case? And how much of an impact could I expect to see?
Also question 2… my Experian credit report says that one factor working against me is the amount of credit I have. I currently have 2 secured cards, one for 500 with capone and the other for 300. Would it help me to put down an additional deposit on both cards? And in order for the deposit to help how much would I need to put down?
Sorry for all the questions, I tried searching but could not find my answer.