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Member
Posts: 17
Registered: ‎01-12-2013
0

Not Sure Where to Go From Here

Hey Guys!

 

After a month or so of lurking, I've decided to make an account, as I have some questions about my credit.

 

I have the following:

 

Discover More: $1.2k

Cap1 Secured: $300, recent CLI from $200

Best Buy Store Card: $400

Radio Shack: $300

 

Right, ow, I'm definitely "gardening", as I got my last card around October. I'm paying down my balances, and plan to have a low utilization. But, around the summertime, I want to get a card with a higher CL, as I feel like I need a card that will grow with me as I go to the main campus of my university; something that will be useful if I go on a trip somewhere, or if I have an emergency. My scores vary from 680-710, and I have several HPs from all bureaus. I went onto Discover's website for a CLI (got two auto-CLIs; started at $750 -> $1,000 -> $1,250), and it has the "The CLI is unavailable, with the contact number." I don't want an HP for a CLI if I can afford it..

 

What do you guys think? I'm thinking the Citi Student Forward; I pay the Cap1 Secured almost PIF, leaving $10-$20 as a revolving balance. 

 

I'm also looking at applying for student loans, so I'm not too sure about whether my credit will hurt or help it.

 

 

~RyeBread

 

Senior Contributor
Posts: 4,672
Registered: ‎12-11-2011
0

Re: Not Sure Where to Go From Here

The citi forward is supposed to be a great card, so I would def go for it whenever you're out of the garden.

Also, why do you revolve a balance on your cap1? REPORTING a balance is different than REVOLVING a balance. Reporting is just when your statement has a balance, revolving means you're paying interest. You never HAVE to revolve, revolving will not help your score, it will just cost you money. Just an FYI if you were doing it because you thought it helped. A lot of people have that misconception, and it ends up costing them a lot of $$.
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Member
Posts: 17
Registered: ‎01-12-2013
0

Re: Not Sure Where to Go From Here

Thanks for the reply! And, I will follow that advice.

 

Now, I did apply for a Citi Card this summer, and was declined. I don't remember why, to be perfectly honest.

 

I also thinking of the Walmart Discover since you get a free TUScore, or maybe something else, I'm really not sure. 

 

Any other suggestions? :smileyhappy:

Senior Contributor
Posts: 4,672
Registered: ‎12-11-2011
0

Re: Not Sure Where to Go From Here

I like my walmart card, and i love my free FICO score. They offer some decent financing options pretty often, and you can get cash back with no fee and with a grace period in store. If you shop there it is definitely worth it. GE is a good lender to get in with.
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Member
Posts: 17
Registered: ‎01-12-2013
0

Re: Not Sure Where to Go From Here

I'm just worried that if I apply, I'll get approved for the regular store card with a minimum CL, wasting an HP.

 

I just want something a bit better than low-limit cards so I can build my credit higher, and have a card that'll grow over time. I could try Cap1, but from what I've read, their CS is pretty bad, and I want to get rid of the secured card before the AF. </endrant>

Frequent Contributor
Posts: 455
Registered: ‎01-04-2012
0

Re: Not Sure Where to Go From Here


RyeBread wrote:

I'm just worried that if I apply, I'll get approved for the regular store card with a minimum CL, wasting an HP.

 

I just want something a bit better than low-limit cards so I can build my credit higher, and have a card that'll grow over time. I could try Cap1, but from what I've read, their CS is pretty bad, and I want to get rid of the secured card before the AF. </endrant>


Hello ryebread welcome to the forums i honestly believe you should apply for a walmart card and please don't look at it as wasting a hp there is nothing wrong with starting out with the store card. If you really want to grow walmart is definitely the way to go.When building alot of us start out with low limit cards and work our way up yes it takes time i personally started out with walmart 3 years ago with a 700 limit now fast forward today i have walmart discover with a 7000 limit and compared to my fellow fico members they are getting 10 and 12.5 limits. When you decide to come out of the garden just think about it you have to crawl before you can walk best of luck to you!

Established Contributor
Posts: 608
Registered: ‎10-11-2012
0

Re: Not Sure Where to Go From Here


wallyworld123 wrote:

RyeBread wrote:

I'm just worried that if I apply, I'll get approved for the regular store card with a minimum CL, wasting an HP.

 

I just want something a bit better than low-limit cards so I can build my credit higher, and have a card that'll grow over time. I could try Cap1, but from what I've read, their CS is pretty bad, and I want to get rid of the secured card before the AF. </endrant>


Hello ryebread welcome to the forums i honestly believe you should apply for a walmart card and please don't look at it as wasting a hp there is nothing wrong with starting out with the store card. If you really want to grow walmart is definitely the way to go.When building alot of us start out with low limit cards and work our way up yes it takes time i personally started out with walmart 3 years ago with a 700 limit now fast forward today i have walmart discover with a 7000 limit and compared to my fellow fico members they are getting 10 and 12.5 limits. When you decide to come out of the garden just think about it you have to crawl before you can walk best of luck to you!


+1!! I started with a $700 limit in September 2012 with the walmart store card and it is now sitting at $12,500 four months later!!! You can't go wrong with the Walmart card. If they offer me the is discover version I will respectfully decline! (I have a discover).


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