@Anonymous wrote:My credit isn't bad per say, but the amount of new accounts and inquiries on my account is rediculous. My credit score has went up dramatically from all of this and the score is pretty great, but the report doesn't look so good. I have about 37 inquiries on each bureau. I'm brand new to credit. My first open account is 7 months old (authorized user) and my first individual account is an installment loan that's 6 months old. I have opened 3 Prime credit cards and about 6 store cards over the past 2 months, so my AAoA is not great. Whoa, knock off getting more store cards you only need 1 that you will actually use, bankcards are the preferred cards.
From here it's to the garden. Not applying for ANY credit what so ever for the next year (or longer) except for a student loan that is manditory around July/August. Just out of curiousity: Do you think I will have a good chance of being approved for my student loan? I doubt you will have a problem getting a SL, a word of caution on these though, they stay around forever if you dont pay them they also cannot be discharged in a BK.... It's the most important thing to me right now. I plan paying all of my credit cards in full every month (on the cards I actually use. The Macy's, Kohl's, American Eagle, and Old Navy cards won't be used every month. Only when I actually shop there I will use the cards, which will be about every couple of months or so). Using my Discover it Student card as my main card (paying in full every month) and my 2 Capital One cards for other necessary purchases throughout the months (groceries, a couple of bills, etc.) and paying them in full as well. I also plan to have one of my installment loans halfway paid off by the time it's time to apply for the student loan. (I have 2 installment loans, both opened a month apart). The other installment loan will be about 1/3 paid off by then since it's a 3 year term. I also have a computer loan (4 year term) that's $3,800 that just got out of deferment, so I'm making payments on it. It should drop about $800 by the time it's time for the student loan. My main point is to keep credit card utilization extremely low, pay in full on all credit cards, try to cut the balance on my installment loans down as quick as possible, and try to recover from all of these inquiries. With all of this set, do you think I should get approved for my student loan?
Also, any recommendations and advice you could give to help build and rebuild my credit as quickly and as efficiently as possible would be great! Thanks!
Garden and just let these all grow, as far as the inquiries they wont affect Fico much after 6 months and have no effect at 1 yr.
