How many days shall I wait?

[Bharath]

Hello everyone...

 I have 3 cards...and some declines...

Bank of america--9 months old--CL $1000pulled EX

CITI plat.--- 2 months old -- CL $500 pulled TU

DISCOVER-- 1 month old -- CL $1000 pulled EQ

CITI forward--- declined

Paypal plus-- declined..

Now all i want to do is wait...not even ask for cli's..

 How many days shall i use these cards to make my scores go high.. and enquires go off my reports...I can wait for an year also...so please let me know about this...

thanks in advance every1...

[chnceit]

hi bharath congratulation on your new credit cards. your inquires will hurt for a least 1 year then as they age it will fall off in 2 years. try to keep your total utilization under 10% to keep or maintain a higher credit score. but it would be good to pif each month any charge that you put on any cards. hope this helps

[creditwherecreditisdue]

I know these are recent app's. I would wait one year before app'ing further and have six months track record of good performance before asking for a CLI. The INQ's will remain on your reports for two years and count in your FICO score calculation for one year.

[haulingthescoreup]

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Bharath wrote:

Hello everyone...

 I have 3 cards...and some declines...

Bank of america--9 months old--CL $1000pulled EX

CITI plat.--- 2 months old -- CL $500 pulled TU

DISCOVER-- 1 month old -- CL $1000 pulled EQ

CITI forward--- declined

Paypal plus-- declined..

Now all i want to do is wait...not even ask for cli's..

 How many days shall i use these cards to make my scores go high.. and enquires go off my reports...I can wait for an year also...so please let me know about this...

thanks in advance every1...

---

As long as you have money in the bank to cover your CC balances, use your cards frequently. Check out what rewards come with them (for instance, Discover has rotating categories where you get extra rewards), and use your cards in a way that maximizes any returns.

You can use them as often as you like, every day, even, as long as you never get in the position where you couldn't pay them in full immediately. If you find that you start thinking of charging purchases as putting them on the "never-never", figuring that you can pay them off in a few months, then you'd better take them out of your wallet and just use each one for a fixed monthly expense. At this point in your credit history, your most important goal should be to show your lenders that you are responsible with the money that they are loaning you. You will probably find that CLI's will come with time, although the banking industry is in such turmoil that it's hard to tell any more.

Anyway, you have three great cards to start. I wouldn't plan on getting any new credit until the newest one is a year old. Banks love seeing conservative consumer behavior!

[creditwherecreditisdue]

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@haulingthescoreup wrote:

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@Bharath wrote:

Hello everyone...

 I have 3 cards...and some declines...

Bank of america--9 months old--CL $1000pulled EX

CITI plat.--- 2 months old -- CL $500 pulled TU

DISCOVER-- 1 month old -- CL $1000 pulled EQ

CITI forward--- declined

Paypal plus-- declined..

Now all i want to do is wait...not even ask for cli's..

 How many days shall i use these cards to make my scores go high.. and enquires go off my reports...I can wait for an year also...so please let me know about this...

thanks in advance every1...

---

As long as you have money in the bank to cover your CC balances, use your cards frequently. Check out what rewards come with them (for instance, Discover has rotating categories where you get extra rewards), and use your cards in a way that maximizes any returns.

You can use them as often as you like, every day, even, as long as you never get in the position where you couldn't pay them in full immediately. If you find that you start thinking of charging purchases as putting them on the "never-never", figuring that you can pay them off in a few months, then you'd better take them out of your wallet and just use each one for a fixed monthly expense. At this point in your credit history, your most important goal should be to show your lenders that you are responsible with the money that they are loaning you. You will probably find that CLI's will come with time, although the banking industry is in such turmoil that it's hard to tell any more.

Anyway, you have three great cards to start. I wouldn't plan on getting any new credit until the newest one is a year old. Banks love seeing conservative consumer behavior!

---

+1

Very valuable advice.