Looking back on my credit building experience, I can honestly tell you that the best thing anyone can do right now is find yourself a nice bank/credit union and open up a nice secured credit card. Trust me, the $500-$2000 [obviously more is better] that you have saved up in a bank while you R-E-S-P-O-N-S-I-B-L-Y use your credit will pay in dividends.
In the almost two years I have had credit, I only use it primarily to pay bills and groceries. Only time I go outside of that is when I have to pay for something unexpected, and even then I do that in such a way where I can pay it off in full by the end of the month. So far, BOA and Barclays have not made a dollar off me due to interest. It is my hope that trend continues.
I will still agree though that while CJ was a good "hookup" to those who were credit-challenged, you can "hook yo'self up" with a secured credit card if you are sub-600. My current scores as of today is 703 TU and 694 EQ (694....well I can take heart that I will definitely be 700 with those two by the end of the year....) EX I have no clue until I apply for a mortgage again, but I already have too many INQS. MY PLUS score is 713 on EX though....but who knows what that means in real life.
Regardless, it took me well over a year and a half just to get to this level from sub-600 land. I'm pretty much in credit-maintenance mode now. CJ for me has done it's job.
Starting Score: 454
