Turned 18 today!

[Anonymous]

^^^ Best advice yet ^^^

[Anonymous]

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@Anonymous wrote:

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@Creditaddict wrote:

I'd try Amex and Chase before you call it quits... that Cap1 is basically your only visa with no rewards!

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+1

While, I generally agree....sorry Happy belated B-day, kid...honestly....now back to biz.....I'm in favor of chilling out at bit on the trigger finger.

As you let some grass grow under your feet....nobody is prefect, especially at 18...but if one is going to app

App HIGH not low...like Creditaddict suggest...I'd rather you 'stuck' with AmEx, Chase, Disco or good CU CC vs a wallet full of store cards.

No biggie for the milk that's alreadt poured but I'm also shouting out to the next person up

But all in all you're off to  great start....

I just had to 'make' my 18 y.o. app her 1st CC (she wasn't really in any hurry AT ALL) but I want her like you to build a solid foundation early, so

the river can run deep and IMO it makes sense to BUILD when you have no pressing need...that way time is working FOR YOU.

I'd love to see you at least app up 3 nice solid revolving accounts with real vendors and major cards by 19...that way you've got time to grow up and your

cards and relationships with great vendors grow old together.

These relationships can last a lifetime and supply you with savings, checking accounts, Car, home, refi loans IRAs etc....that's why IMO

Good banks and great CU relationships are the BEST places to start b/c you can finish WITH them...no offense to Macy's or Tom, Dick or Harry dept store card

but the value and effort IMO is best spent 'dating' friends with more long term benefit possibilities

You, like my daughter have the benefit of AU account padding...so you can A or B it

A) Pay attention between now and though the holiday season as lenders jockey for biz and app up 1-2 'great' places...then 'retire' from apping and us the rest of your teens allowing your already (especially with 2 more majors) thick file grow deep and strong

B) Allow your HPs to age and chill possibly apping once by X-mas, then again by Easter

Whichever you're most comfortable with my main point is grab 2 majors between here and no later than say next Easter.....

Then massage the file you have in your basket and by the time you are old enough to get in the club using your 'real' ID you will be gangster...by the next election cycle in 4 years ...your ish would be HOF worthy ...

IF

You (after your 2 majors) chill on apping for ANYTHING (other then adding a installer) and just become a great FARMER...tending to your farm

I say Farm vs Garden because I need my food grown in crop size not backyard garden size...but same concept

Best of  Luck, kid

Welcome to the Bigs

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Thank you so much!! This is great advice!

[Aduke1122]

Hey congrats and Happy 18th Bday , man if I could go back to that and REDO THE MISTAKES I made to my credit . So I will repeat what everyone else has said just take it easy , don't spend what you don't have to pay off in full every mth and stick around here and you can learn a whole lot of useful information about how to build your profile and you will be on your way to 700 scores in no time .

[AverageJoesCredit]

Gonna go opposite... app like theres no tomorrow !!!


Just kidding Congrats on your start in the game and Happy bday!!. Use what you have, always pay on time and let them age you will be golden . Though you can always go for the big boys now like Amex or Chase etc, no rush, they will still be there in a couple years. With a strong profile you build over the next few years youll be ready to conquer the credit world. Slow snd steady will get you ready. Again congrats on your success and wish you the best on your credit journey

[joeaseer]

Happy Belated birthday i'm a September baby myself. I'm glad you came to the MyFico community. If you look at my signature below, you can see I got my first credit card December 2014. That's less than two years of credit history for me.

I had no AU help and only got the Chase Freedom because my relationship with Chase bank(Checking and Savings account). Others have suggested it and I will suggest it as well. Slow down and focus on getting prime cards(Discover,Chase,Amex).

The Chase Freedom is a good choice, the Discover IT is a good choice. Also the Amex BCE (Amex Offers, they give you 10-20% off at different stores and sites) is a great choice when you start to food shop for yourself.

I only have my current credit limits because Discover IT and it's amazing LUV train, that allows you to keep increasing your credit limit over time. With Discover IT, you wait after the first 91 days and request a credit line increase. Then every 31 days exactly after that you can keep requesting credit line increases and they're all soft pulls, which means no hard inquires.

To be honest, it's best to be a little bored by your credit cards. It's great to acheive new ones over time, but since your 18 you have a bunch of time to get credit cards.

Imagine you got 5 new credit cards a year for the next 10 years, you would have to manage 50 credit cards.

Get yourself to a place where your getting $100+ sign up bonuses for each credit card you apply for. If your not getting a big sign up bonus or if there's no zero percent apr for 12 months or more, you really shouldn't get that credit card.