New here, bear with me

[Anonymous]

I have always been against credit, because I didn't really know anything about it (Or really need/care about it). I finally decided to dive in, information wise, about a year ago. I had terrible scores, in part due to a vacant history, and in part due to a collection. The collection was for a towing company. Long story short, my car was stolen in '09, turns out it was stripped but recovered months later. I was never informed about it, and ended up with a $1500 collection (That I found out about last summer with my first credit report)

After reading up, and arming myself with credit info (Mainly from this forum, Thanks!) I figured it would be easier to let it fall off, since it had been reported for so long already. 

Another thing I noticed when I did my first credit pull last summer, was a credit line that was in good standing, and 20 years old (I am in my late 30's). It is a Mil-Star credit card I got in 96 when I was in the Army. I used it once back then, paid it off, and forgot all about it. Even though there has been zero activity on it, it still shows as my oldest line of credit, which is awesome.

I decided to start building a few months ago. Reading these forums I found out about the Shopping Cart trick, and got an HSN card for $750. A month or so later, when it was reported on CK, I did applied for a Cap QS1 and was approved for the standard $300 with a bump in 5 months. Once that reported a couple weeks ago, I decided to just try one more, before retreating to the garden for 12-24 months. I applied for a Discover It card, I got the We will send you info in 5-7 days screen, and assumed it was denied (can't blame them). I got an email from them a few days later stating I was accepted, and given a $2500 credit line. I love Discover. Also, my Towing Company collection just fell off this week!

I know it is not much, and I know I am starting 'adulting' pretty late in life (as is my SO). But with a lot of reading, and a fairly informed plan of attack, I went from no credit and 580ish scores, to $3350 and a bump to an almost 700 score in a couple of months. 

My plan now, besides the obvious proper usage, is to garden for 12-24 months while I get used to using cards. Hopefully I can get Cap1 to bump me up to the No AF version right around the 1 year mark.

I honestly feel strange dropping this kind of personal info out into the ether, but I want everyone here to know that you help a lot of lurkers. And hopefully someone in my situation can gain some hope. 

Say it with me now; 'Keep it under 30%, PIF every month, keep your eyes on the prize'

[OmarGB9]

Haha Grats on the awesome start! And pretty cool that you have a ~20 year TL. That'll really help your AAoA.

[Anonymous]

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@Anonymous wrote:

I know it is not much, and I know I am starting 'adulting' pretty late in life (as is my SO). But with a lot of reading, and a fairly informed plan of attack, I went from no credit and 580ish scores, to $3350 and a bump to an almost 700 score in a couple of months. 

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Love this line.

I started early. Stopped. Started again. Stopped. Started again. I get it.

Sounds like you're on the right track. 

[Anonymous]

Welcome to MyFico and congrats on your credit improvement and good luck in the future.

[Existentialist]

Welcome and thanx much for sharing.

[icyhot]

Hey it's probably best you started later. People get into credit when they're late and all they know is "hey free money if I give them $20 a month" and they destroy their future or have to work really hard to fix it. Some (A lot) people go their whole lives never using credit, that's totally cool. I couldn't do it tho lol

[taxi818]

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@Anonymous wrote:

I have always been against credit, because I didn't really know anything about it (Or really need/care about it). I finally decided to dive in, information wise, about a year ago. I had terrible scores, in part due to a vacant history, and in part due to a collection. The collection was for a towing company. Long story short, my car was stolen in '09, turns out it was stripped but recovered months later. I was never informed about it, and ended up with a $1500 collection (That I found out about last summer with my first credit report)

After reading up, and arming myself with credit info (Mainly from this forum, Thanks!) I figured it would be easier to let it fall off, since it had been reported for so long already. 

Another thing I noticed when I did my first credit pull last summer, was a credit line that was in good standing, and 20 years old (I am in my late 30's). It is a Mil-Star credit card I got in 96 when I was in the Army. I used it once back then, paid it off, and forgot all about it. Even though there has been zero activity on it, it still shows as my oldest line of credit, which is awesome.

I decided to start building a few months ago. Reading these forums I found out about the Shopping Cart trick, and got an HSN card for $750. A month or so later, when it was reported on CK, I did applied for a Cap QS1 and was approved for the standard $300 with a bump in 5 months. Once that reported a couple weeks ago, I decided to just try one more, before retreating to the garden for 12-24 months. I applied for a Discover It card, I got the We will send you info in 5-7 days screen, and assumed it was denied (can't blame them). I got an email from them a few days later stating I was accepted, and given a $2500 credit line. I love Discover. Also, my Towing Company collection just fell off this week!

I know it is not much, and I know I am starting 'adulting' pretty late in life (as is my SO). But with a lot of reading, and a fairly informed plan of attack, I went from no credit and 580ish scores, to $3350 and a bump to an almost 700 score in a couple of months. 

My plan now, besides the obvious proper usage, is to garden for 12-24 months while I get used to using cards. Hopefully I can get Cap1 to bump me up to the No AF version right around the 1 year mark.

I honestly feel strange dropping this kind of personal info out into the ether, but I want everyone here to know that you help a lot of lurkers. And hopefully someone in my situation can gain some hope. 

Say it with me now; 'Keep it under 30%, PIF every month, keep your eyes on the prize'

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Congrats. Welcome to the forum. No shame here. We still don't know you. The only way is to put personal info out there for help. And beleive me. We will help. Congrats on your approvals. and great plan. Garden Garden Garden. Wish i would have did that. But hey. I don't have a Garden hoe.

[Anonymous]

Thanks everyone! I never really had an issue with needing credit, if I wanted something, I purchased it outright if I could afford it. If not, I saved.

Once I saw proper credit usage as a game, it clicked. No one ever taught me how to manage debt, so I thought credit cards were all debt all the time. And just decided to never have one.

But these days, your credit score can affect so many avenues of life it's almost impossible to gain ground without a decent score. I'm not using credit to extend my spending, I'm only using it to extend my score and therefore how future employers/lenders/property managers see me.

[Broke_Triathlete]

Welcome to the forum and congrats on the great work. Keep it up and swipe wisely!!!

[Closingracer99]

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@Anonymous wrote:
Thanks everyone! I never really had an issue with needing credit, if I wanted something, I purchased it outright if I could afford it. If not, I saved.

Once I saw proper credit usage as a game, it clicked. No one ever taught me how to manage debt, so I thought credit cards were all debt all the time. And just decided to never have one.

But these days, your credit score can affect so many avenues of life it's almost impossible to gain ground without a decent score. I'm not using credit to extend my spending, I'm only using it to extend my score and therefore how future employers/lenders/property managers see me.

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+1

ive been wanting credit since I was 18 and got my card when I was 23. My scores are around the 730 range and while I am not buying a house or a car any time soon I can build my history up to the point when I do I already have a good credit history.