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18 year old trying to build credit!

Moderator Emeritus

Re: 18 year old trying to build credit!


GOALIS850 wrote:
Awesome thanks Webhopper!!! Would they do a hard pull if I asked for a cli?

If you ask online, and receive the instant approval of the CLI, then it may not be a Hard Pull.   My husband received two CLIs this way and both were soft pulls... as with anything, his experience may be different from yours but at least it doesn't hurt to ask.


Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



Take the myFICO Fitness Challenge
Message 41 of 53
Frequent Contributor

Re: 18 year old trying to build credit!

Goal,

Anything under 10% balance on one card maximizes your score because it shows usage. If I ever carry a balance when it comes time to apply for a card, I automatically pay it off a day or two later and then apply for a card. Other then that, there is no reason to ever really carry a balance or unless you have some major purchases and need time to pay it off, then it is okay. Other then that however, I always pay before the statement cuts, so I never really have too much debt. 

Bank of America: Cash Rewards.- 4.2k. 4/25/12 (CLI Increase 6/15/13, CLI May of 2015, sept 2015), Citi: Forward- 4.5k. 10/27/12 (CLI on 2/8/14, SP, CLI on 9/26/15 sp). Discover: More- 7k, 10/27/12 (Increase 6/1/14, CLI in May of 2015, SP 9/2015) Amex: PRG- NPSL (closed 12/13/13). 11/24/12. Chase: Freedom. 5/1/13- 5k (EX CLI HP 9/2015) Southwest Rapid Rewards Plus.-3.6k. 6/15/13. Amex BCE-2k. 12/7/13. Amex SPG-5k 12/8/13 (CLI on 9/2015) Capital one VentureOne Visa Signature-10k (9/6/15). Citi AAdvantage Platinum Select World MasterCard-4K. Last App: 9/6/15. Total cl: 45,300
Message 42 of 53
Established Member

Re: 18 year old trying to build credit!

Thanks webhopper! Would you mind telling how I would ask for this and, how does a secured loan work with NFCU? Thanks again!
Message 43 of 53
Established Member

Re: 18 year old trying to build credit!

Thanks bluesnowman! Would you mind explaining that further? I mean why does carrying a balance help?
Message 44 of 53
Established Member

Re: 18 year old trying to build credit!

Thanks webhopper! Would you mind telling how I would ask for this and, how does a secured loan work with NFCU? Thanks again!

Message 45 of 53
Established Member

Re: 18 year old trying to build credit!

Thanks bluesnowman! Would you mind explaining that further? I mean why does carrying a balance help?

Message 46 of 53
Established Member
Message 47 of 53
Valued Contributor

Re: 18 year old trying to build credit!

GOALIS850, i cant read the rest of your message because it starts drifting off as a link to my previous posts o.O mind posting again? XD also, i would avoid the secured loan if you plan on going to college or are in college and are considering student loans! Then you'll have a nice installment account to add to the list that you'll actually need!

Quicksilver WMC $20k | JCPenney Platinum $10k | Drive for Five $800 | Freedom VS $5k | TD Cash VS $5k | CFU VS $14.8k | Blue Sky $13.7k | IT $28k | SavingStar $14.8k | BCE $11.3k | Macy's AMEX $7.2k | BuyPower WEMC $7.5k | CSR VI $13.3k | Diamond Preferred $6.5k FICOS: EX 775 EQ 764 TU 759 VantageScore 3.0: EX 759 EQ 757 TU 762
Message 48 of 53
Established Member

Re: 18 year old trying to build credit!

Oh wow! Thanks yeah I'll probably have to take loans and some point. Oh yeah that was weird! What I was saying is that I was thinking about maybe applying for the Amex PRG or the Plat (I know it's a long shot haha). Do you think I have a chance at these cards if I apply next fall? and finally can I use mine and my parents income in the apps if I am in their accounts as a joint user? Thanks for all the info again!

Message 49 of 53
Established Member

Re: 18 year old trying to build credit!

I have one more question Webhopper if you dont mind. Since I still could not get any scores from equifax or experian does that mean that I don't have any inquiries recorded with them? Also, the first credit card I ever applied for was the chase freedom (yeah now I know it was a bad idea! haha), but I can't seem to find this inquiry anywhere. Is that weird?

Message 50 of 53