18 Year Old Building Credit?

[lg8302ch]

Congrats on your approval for BofA. Do not worry about the reporting ..it will be just fine. ..and you do not need to worry about Signature cards for right now...yours will be a Platinum one anyhow...Siggies require a CL of 5K for BofA and do report the CL now. So enjoy your card and take good care of it  It will grow with you!

edit:  .. btw this is exactly how I started my credit journey !

[lg8302ch]

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@CoreyGSHS wrote:

Also, how long would it usually take for me to get my score to at least 700? How much shall I be spending monthly on a $700 CL card? I heard that having at least a certain amount of balance on the card monthly is good for rising credit scores? 

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Do you usual buys and do NOT spend just to try to please BofA. Whatever daily expenses you have only and  adopt the PIF strategy. By this I mean do not start to PIF before statement cut to report 0 balance...this is really something to consider with multiple cards and simply to boost scores before applying for something. I would make sure to report max. 30% and if you use the card for more then simply pay during the cycle so it would report 10-30%. Before you apply for a new card in 6 months I would report an amount below 70$ but not 0$ with one account.