Credit Card Center Advertiser Disclosure†
10-08-2012 09:42 PM
I've been thinking about what is best for my credit history recently. Here's my plan to make sure things keep getting even better!
I have about 18 inquaries on my reports and about half or slightly more are from this year alone, the rest should fall off by the end of this year or begining of next year. I plan on trying to resist the urge to app for the next year and a half to 2 years so the inquaries can age and fall off.
Durring this "cool down" I will be callng up GE every 4 statements like clockwork to ask for higher limits.
Then after that (sometime in late 2014) app for a Barclay's Reward Mastercard and by that time they should see that i've done well and give me a card with a worth while limit.
Then about 4 months after I would hopefully get in with Barclay's I would close my Capital One card. (hopefully i can get them to waive annual fees before that)
Then I understand that i have to wait a minimum of 6 months of no apps so Barclay's can see i'm being responsible. After then hopefully i will be getting my drivers license and my first car, if that doesn't happen around that time then I will see if i can get a "Cash Builder" credit card with my bank (PNC).
If i can do all of that then i should have excellent credit or damn close too it!
What do you guys think? Do you think i'm crazy? (lol, don't answer that one.... ha ha ha lol) but seriously what do you guys think about my goals?
10-08-2012 09:47 PM
Looks like a pretty solid plan. GL not APPing
I hope that goes well for you. Just always PIF each month, and you will be well on your way to a great credit profile.
10-09-2012 05:12 AM
I think you rplan is solid indeed.
Just make sure you PIF and do not carry a balance and you will do just fine.
Good luck with your plan!
10-09-2012 05:31 AM
Excellent plan overall. Only thing I would do is NOT close the Cap One account if they waive your AF. Even if they still have you at $500 by then, that can be helpful to your utilization.
10-09-2012 05:35 AM
Nice plan. Try and stay in the garden!
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.