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Established Member
Posts: 38
Registered: ‎12-25-2012
0

Please help I'm trying to build credit!!!

I am adding more questions this time because I did not get the answers I was looking for before and I need for info. Hi I will be turning 19 in a couple of months and since I turned 18 I have been trying to build my credit. Background: I am a full time student and I work part-time making about $38,500 a year. I was approved for a car loan for about $18,750 about 4 months ago. Also, I was able to get the Journey CC from Capiltal one with a $300 cl about 5 months ago and just recently I was approved for the NFCU CashRewards with a $500 cl this month. Both of these credit cards are on my own name. I stay under a 30% utilization and also to never carry a balance. I recently signed up'd with credit karma and credit sesame which have been of great help. I have a 672 under CK. Now I have the following questions:

 

1. I was thinking about maybe applying for the Amex PRG or the Plat (I know it's a long shot haha) But I could really use the benefits that come with it. Do you think I have a chance at these cards if I apply next fall when I will have an AAoA of a little over a year? and finally can I use mine and my parents income in the apps if I am in their accounts as a joint user?

2. I was trying to get my scores from ex and eq, but they will not let me get them because my history is less than 6 months. Does that mean that I don't have any inquiries recorded with them? Also, the first credit card I ever applied for was the chase freedom, but I can't seem to find this inquiry anywhere. Is that weird?

3. I only got a 500 cl with NFCU when should I ask for a cli and how much should I ask for?

4. When I was approved for the car loan they gave me a 5.59 APR is that good or should a refinance in the future? 

 

What do you guys think? All advices will be very much appreciated!!! Thank you so much!!!

Senior Contributor
Posts: 3,197
Registered: ‎01-24-2010
0

Re: Please help I'm trying to build credit!!!


GOALIS850 wrote:

I am adding more questions this time because I did not get the answers I was looking for before and I need for info. Hi I will be turning 19 in a couple of months and since I turned 18 I have been trying to build my credit. Background: I am a full time student and I work part-time making about $38,500 a year. I was approved for a car loan for about $18,750 about 4 months ago. Also, I was able to get the Journey CC from Capiltal one with a $300 cl about 5 months ago and just recently I was approved for the NFCU CashRewards with a $500 cl this month. Both of these credit cards are on my own name. I stay under a 30% utilization and also to never carry a balance. I recently signed up'd with credit karma and credit sesame which have been of great help. I have a 672 under CK. Now I have the following questions:

 

1. I was thinking about maybe applying for the Amex PRG or the Plat (I know it's a long shot haha) But I could really use the benefits that come with it. Do you think I have a chance at these cards if I apply next fall when I will have an AAoA of a little over a year? and finally can I use mine and my parents income in the apps if I am in their accounts as a joint user?

2. I was trying to get my scores from ex and eq, but they will not let me get them because my history is less than 6 months. Does that mean that I don't have any inquiries recorded with them? Also, the first credit card I ever applied for was the chase freedom, but I can't seem to find this inquiry anywhere. Is that weird?

3. I only got a 500 cl with NFCU when should I ask for a cli and how much should I ask for?

4. When I was approved for the car loan they gave me a 5.59 APR is that good or should a refinance in the future? 

 

What do you guys think? All advices will be very much appreciated!!! Thank you so much!!!


For joint accounts, the income of all parties is needed for the application.

 

I don't think you should apply for anything else or ask CLI until you have 1 year of history. 

New Contributor
Posts: 116
Registered: ‎01-02-2013
0

Re: Please help I'm trying to build credit!!!

What kind of part time job do you do making that kind of money?

Frequent Contributor
Posts: 496
Registered: ‎11-13-2012
0

Re: Please help I'm trying to build credit!!!

Right?

GangnamFICO wrote:

Because the chicks dig it when I throw down the card to the waiter and...it comes in handy if I'm short on cash until payday and need a short spot. AMEX gets the booty, and that's important when you're a Pirate.


Minor vulgarity edit --Rev



Valued Contributor
Posts: 1,738
Registered: ‎08-13-2012
0

Re: Please help I'm trying to build credit!!!

does your work place hiring ???


Starting Score: 560
Current Score: 748 Wishlist: CSP, Simply Cash, SPG, BOLD, INK, United MP,
Goal Score: 800


Walmart: 10k |Usaa: 8k|BCE: 13k| Amex: NSPL|Dis: 9.4k|Cap: 5.5k|CAP: 2k|CSP: 13.4k| Pen:4.5k

Valued Contributor
Posts: 1,738
Registered: ‎08-13-2012
0

Re: Please help I'm trying to build credit!!!


GOALIS850 wrote:

I am adding more questions this time because I did not get the answers I was looking for before and I need for info. Hi I will be turning 19 in a couple of months and since I turned 18 I have been trying to build my credit. Background: I am a full time student and I work part-time making about $38,500 a year. I was approved for a car loan for about $18,750 about 4 months ago. Also, I was able to get the Journey CC from Capiltal one with a $300 cl about 5 months ago and just recently I was approved for the NFCU CashRewards with a $500 cl this month. Both of these credit cards are on my own name. I stay under a 30% utilization and also to never carry a balance. I recently signed up'd with credit karma and credit sesame which have been of great help. I have a 672 under CK. Now I have the following questions:

 

1. I was thinking about maybe applying for the Amex PRG or the Plat (I know it's a long shot haha) But I could really use the benefits that come with it. Do you think I have a chance at these cards if I apply next fall when I will have an AAoA of a little over a year? and finally can I use mine and my parents income in the apps if I am in their accounts as a joint user?

2. I was trying to get my scores from ex and eq, but they will not let me get them because my history is less than 6 months. Does that mean that I don't have any inquiries recorded with them? Also, the first credit card I ever applied for was the chase freedom, but I can't seem to find this inquiry anywhere. Is that weird?

3. I only got a 500 cl with NFCU when should I ask for a cli and how much should I ask for?

4. When I was approved for the car loan they gave me a 5.59 APR is that good or should a refinance in the future? 

 

What do you guys think? All advices will be very much appreciated!!! Thank you so much!!!


1. No amex product until 1 or 2 years.

2. you will not see any score until you hit your 6 months period or 1 year but the score is useless because Creditor based on many other factor. Not just score. Someone may approve for 600 fico score with history and one would be denied for 700 score due to no credit history.

3. Used your account respond and stay under 9% utili. Ask for CLI if needed. You still young......Build your credit slow and steady ........

4. 5.59 Apr seem like an okay rate for car loan. I paid 14% aPR for my  first car when i first came to America.


Starting Score: 560
Current Score: 748 Wishlist: CSP, Simply Cash, SPG, BOLD, INK, United MP,
Goal Score: 800


Walmart: 10k |Usaa: 8k|BCE: 13k| Amex: NSPL|Dis: 9.4k|Cap: 5.5k|CAP: 2k|CSP: 13.4k| Pen:4.5k

New Contributor
Posts: 104
Registered: ‎12-12-2012
0

Re: Please help I'm trying to build credit!!!

Send me an application from your place of work please.
Regular Contributor
Posts: 206
Registered: ‎12-20-2012
0

Re: Please help I'm trying to build credit!!!

This thread is hilarious. 

 

OP the wiser ones are right, part of building credit is just playing the waiting game. I can tell you you have a fantastic headstart over most people at age 19 to be as on top of things and knowledgeable as you are. Check out the garden club threads for more of a feel for how long to wait before apping, etc. 

 

Actually I would bet if you post your question in the garden club thread they would have the best advice. 


Starting Score: EXP 615 | TU 610 | EQ 635
Current Score: EXP 719 (lender pull 10/15) | TU 707 | EQ 700 (lender pull 10/25)
Goal Score: 740
Regular Contributor
Posts: 217
Registered: ‎09-25-2012
0

Re: Please help I'm trying to build credit!!!

Wow 19 and making that much money while working part time? I am jealous. Lol
TU 746 (10/13)
GOAL: 750+






Valued Contributor
Posts: 1,987
Registered: ‎06-25-2012
0

Re: Please help I'm trying to build credit!!!

op its better to wait. i waited to turn 21 with only 3 cards and 4k total cl. just build good payment history and you'll see.

Amex BCE (2500) / Amex SPG (4000) / Amex GoldPR / Merrill+ Visa siggy (5000) / BofA Amex (6000) / Bofa cash rewards (5000) / BofA Privileges Cash Rewards (5000) / Citi Forward (4400) / Citi DP (2000) / Chase Freedom (4000) / Chase CSP (5000) / Chase Hyatt (5000) / Discover IT (1700) / FNBO AMEX (3600) / NFCU cashRewards Visa signature (15000) / NFCU Flagship Visa signature (12500) / NFCU Navcheck (5000) / Nordstrom (500) / MetroCU Visa Elite (5000) / Walmart (4500) / Kays Jewerels (6600) / Kohls (300) / Macys Platinum (2500) / DCU platinum Visa (17500) / Citizens bank cash back (1100) / Bill Me Later (1631) / PayPal Smart connect (2200) / BestBuy store card (2000)
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