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Senior Contributor
jsucool76
Posts: 3,817
Registered: ‎12-11-2011
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Re: SISTER CREDIT REVIEW

Despite the fact that gardening seems like you're doing nothing, it is actually a great tool. Let her build a bit longer of a history and pay off those cards(get util down) as quick as she can...

Then she'll be in a good place for some apps.
;
Valued Contributor
Dustink
Posts: 3,097
Registered: ‎10-02-2012
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Re: SISTER CREDIT REVIEW


BearsAndTurtlesRtheBest wrote:

Okay so then how can she go further from where she stands now? 


Best thing she can do right now is get he debts paid down. Then pay in full each month. Give it some time and after a year or so, seek out another decent card.

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


     $17k       $8.5K          Closed          $19k      $6.5k        $24.2k        Closed         $5k       Closed     $8.5k        Closed      @2.49%
Senior Contributor
BearsAndTurtlesRtheBest
Posts: 3,694
Registered: ‎10-02-2012
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Re: SISTER CREDIT REVIEW

@jsucool76 and @Dustink Thank you guys for your support and now I know that she should wait until she pays down her debt and wait a little longer so she can get a decent card. SOUNDS LEGIT thanks again!!!

Established Contributor
calihlove75
Posts: 791
Registered: ‎05-16-2012
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Re: SISTER CREDIT REVIEW

[ Edited ]

BearsAndTurtlesRtheBest wrote:

Okay so then how can she go further from where she stands now? 


I would pay down those balances first on the cards that are close to their limits. My son who is 18 years old and still in high school was approved for the regular version of the  Discover IT $1000 last week. He makes about $15,000 a year. His TU score was 750 and he was about 6% utilization. He only has 4 months history on a Cap One (500), Amazon(500), and Walmart(600) but is also an authorized user on one of my accounts that hitting a year old.

 

 

Editted to add he did not get the 14 month no interest deal. Discover gave him 6 months @ 3.99 apr and then 22.9 % thereafter. He was not accepted on the best terms.

100% Ficos: EX 762, TU 767, EQ 762 Inquiries last 1 year/6 months: EX-0/0, TU- 0/0, EQ-1/0~ last credit card app 6/24/13- New car loan 3/8/2014
Discover IT $9500~Kohls $1000~Amex BCE $2000~ Walmart Discover $7500~NFCU Signature CashRewards $16,100~ Chase Freedom MC $6000~ Chase Amazon Visa $1900~ Cap 1/HSBC MC $2500~ Amazon Store $7000~ Fingerhut $1050
Senior Contributor
BearsAndTurtlesRtheBest
Posts: 3,694
Registered: ‎10-02-2012
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Re: SISTER CREDIT REVIEW

^^^^^^^^ Taking note on all this as well thank you @calihlove75

Regular Contributor
mirachi
Posts: 146
Registered: ‎01-05-2013
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Re: SISTER CREDIT REVIEW


Dustink wrote:

BearsAndTurtlesRtheBest wrote:

Okay so then how can she go further from where she stands now? 


Best thing she can do right now is get he debts paid down. Then pay in full each month. Give it some time and after a year or so, seek out another decent card.


+1

 

Also, I wouldn't worry about getting a loan/mortgage either - I have neither and yet I think my scores are ok....I would suggest, however, that if your sister does want a high scores to not just go on an app spree.....

 

For now, just let those accounts that you do have age & maybe consider those student cards? (Can't remember if you've mentioned anything about other family members having cc's but maybe she could tag along in one of the older accounts that is in good standing/PIF every month?)


Last app 5/7/2014

No apps until 3/31/2016!
Senior Contributor
BearsAndTurtlesRtheBest
Posts: 3,694
Registered: ‎10-02-2012
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Re: SISTER CREDIT REVIEW

thanks @miachi yeah my parents added her to theri Lowes credit acct which has a $6,000CL AND WAS OPENED ON APRIL 2003 GOT IT  NO MORE APPS UNTIL ACCTS AGE A LITTLE MORE :smileyhappy:

Frequent Contributor
Imua
Posts: 292
Registered: ‎01-17-2009
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Re: SISTER CREDIT REVIEW

[ Edited ]

BearsAndTurtlesRtheBest wrote:

Alright well then for now she should let her current accounts age and get bigger CLs after that Maybe a joint in a SMALL auto or personal loan?? 


imo, she needs to get her utilization down (most important step!) and make sure she is never late on a payment.

i am not in favor of taking out small auto or personal loan JUST to affect credit score (i don't have any loans, auto or personal, showing on my CRs... imo, they are not absolutely necessary to facilitate good credit scores).

 

after she gets her util down and has absolutely no lates, she might consider applying for a national student nurse credt card as soon as she registers for school (she must be going for her RN, though, not LPN).

It's the National Student Nurses’ Association Platinum Plus® Visa® card with WorldPoints® rewards from Bof A 

see more re nsna at:

http://www.nsna.org/Portals/0/Skins/NSNA/pdf/GUIDELINESMembershipRecruitment2010-2011.pdf

 

as an RN myself,  i wish good luck to your sister in her nursing career! .. oh, and in her credit building journey :smileyhappy:

 

 

 

 

 

 


BofA visa $9.4k ... BofA Cash Rewards visa sig $10k ... Cap 1 Venture1 visa sig $10k ...
Chase Freedom visa $10k ... Macy's $1.5k ... Macy's Amex $5k ... Sam's Club $6.3k
myFICOs as of 3/25/14:...EX=809 .... EQ=802....TU=787
Senior Contributor
BearsAndTurtlesRtheBest
Posts: 3,694
Registered: ‎10-02-2012
0

Re: SISTER CREDIT REVIEW

SERIOSULY TAKING NOTE ON ALL OF YOUR GUYS HELPFUL ADVICE!! AND @Imua THANK YOU

Established Contributor
colindidit
Posts: 665
Registered: ‎11-13-2012
0

Re: SISTER CREDIT REVIEW


Imua wrote:

BearsAndTurtlesRtheBest wrote:

Alright well then for now she should let her current accounts age and get bigger CLs after that Maybe a joint in a SMALL auto or personal loan?? 


imo, she needs to get her utilization down (most important step!) and make sure she is never late on a payment.

i am not in favor of getting out small auto or personal loan JUST to affect credit score (i don't have any loans, auto or personal, showing on my CRs... imo, they are not absolutely necessary to facilitate good credit scores).

 

after she gets her util down and has absolutely no lates, she might consider applying for a national student nurse credt card as soon as she registers for school (she must be going for her RN, though, not LPN).

It's the National Student Nurses’ Association Platinum Plus® Visa® card with WorldPoints® rewards from Bof A 

see more re nsna at:

http://www.nsna.org/Portals/0/Skins/NSNA/pdf/GUIDELINESMembershipRecruitment2010-2011.pdf

 

as an RN myself,  i wish good luck to your sister in her nursing career! .. oh, and in her credit building journey :smileyhappy:

 

 

 

 

 

 



 +1

Very true...util is the thing most worrisome to lenders as far as I have learned... In 15 days I'll have all my CCs paid off except 275 on one card so I'll have 1 percent util...can't wait

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