12-26-2012 04:08 PM
I currently have 631 CS. I would like to get a credit card to build more my credit. I would like to know what would be the best credit card to get in order to start building my credit profile.
Any help would be appreciated!
12-26-2012 04:35 PM
Hello, and welcome to the forums.
In order to help you, we really need a little more information. Did your credit score come from myFICO, or did it come from another site? As HiLine said, there are many types of credit scores and we need to be sure that we're comparing apples to apples. Also, have you pulled a copy of your full credit report? If so, are there any pieces of negative information ("baddies") on there, such as collections, charge-offs, judgements or late payments? Do you have any active accounts, and if so, what type? Credit cards, installment loans such as car payments, student loans, mortgages, etc? How much do you owe on your accounts relative to their credit lines? How old is your oldest account, and what is the average age of your accounts (AAoA)? Have you applied for credit recently, and if so, how many inquries are on your report?
None of this is to pry, but rather to help evaluate your situation and give you the best possible advice. Different credit cards have different approval criteria, and the information above will help to determine which cards are likely to be a good match for you at this point in time.
12-26-2012 05:04 PM
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO