Greetings all,
I've recently started to read these forums after receiving a barrage of "spam" emails from myFICO. Wondering what all the commotion was, I clicked on a random Tuscani thread and was soon hooked.
I'm a 19-year-old college student with a little over a year's worth of credit history.
I opened up a US Bank Student card (after being declined for a standard card) last year with an initial CL of $500 (APR: I can't remember at the moment, but I believe it to be higher than 20% and lower than 25%). Upon my request six months later, it was increased to $2,000. And as of last week, the company themselves took it upon themselves to increase it again to $2,750, without my asking.
I just recently opened up a WaMu credit card as well. This is not a student card, but I'm not sure if it's a Prime or Subprime card either (not really sure what the difference is, so anyone care to englighten me?). It's a Platinum MasterCard, with an initial CL of $2,000 (APR: 9.99%). They do not take customer requests to increase CL's, but rather will do it on their own time. Does anyone know the schedule or requirements needed before they will take a look at your report and increase your limit?
In due time, perhaps in roughly a year, I hope to apply for an AMEX card. Heck, it might be a Discocer instead. Not sure with one it might be, or what the perks are, but I do have to keep in mind not to pay any annual fees.
Lastly, I get the "PFICO" score from WaMu because I have their card. Through my readings on this forum, I understand that WaMu operates with TU, but my PFICO (this is just as good as a FICO score, correct?) comes from Experian. At least, that's what is says on the site. Any reason for this? Should I be worried? Am I getting a legitimate score?
My current Experian score (the only one I have checked, and only because it's free) is 756. I presume my other two scores are in the same ballpark.
I have no outstanding loans, mortages, or debts. Like I said, I do have the two credit cards, of which, the US Bank card is now my secondary card. My monthly charge is $2.00, which is a portion of my phone bill. The rest of my charges ~$250 go on my WaMu card. Life is, how you say, simple, when one piggybacks on their parents.
I do however owe the county library about five dollars in late fees. Outside of that, I'm completely debt free (I think). I was a dud and ordered my Experian and Equifax credit report at the same time (from annualcreditreport.com). For some reason, TU's online site won't work for me, and I still haven't received their paper credit score yet. It's been over a month, at least. I did have to make one correction, I believe it was about birthdate, or birthmonth. I believe at last check, the problem had been rectified.
My goal is to surpass a score of 800 by September of 2008. Granted, I know it's harder to raise an already high score to one even higher, but I'm mostly likely going to be in the market for student loans of some sort and need all the extra help that 46 some odd points mind get me. Is this possible? Reasonable? What steps should I take to ensure that I get close to this goal? I haven't missed a payment to date, always pay on time, and always pay in full. I've never gone above my credit limit, but have gone over the 9% Util. recommended on this site, at least four over the course of the last year.
Thanks in advance for your time and consideration.
