Welcome 2 the forum and +1 on previous advice..You have the needed accts. to get where you are trying to go,so now it's time to garden and work on baddies,while patiently growing your new plants,,,,Check out more info on the board about cleaning up credit files while gardening,,
Best Wishes on your credit journey !!!!!!!!!
Best Wishes on your credit journey !!!!!!!!!
I'm right there with you I have 16 inquiries on my credit report. I was just approved for the citi visa card offered at cosco but it cost me 17 point drop on my credit. With the cards you got just make small purchases and pay off them off before the bill is due. I did that back in September till now and increased my score from 595 to 680. Capital is good at approving you with a low score. But just garden for about 6 months and your score will increase. Mine did.
Welcome. Simply gsrdening and growing what you you do have will put you on the track of reaching your goal. I wouldn't apply for anything else. Keep reading these threads because it sounds silly, but there are even ways to garden correctly, or get the most out of it.
Thank you all for your kind words! I am really excited to get my score up there, I just checked my score today even with 13 inquiries they just added the Walmart and my scored went up 13 points from 640 to 653. I wonder if it's going to be dropping later on 
I'm excited and scared ....
^ thank you for your kind words and the time spent replying I really do appreciate it! I understand exactly what you said and now that I calmed down and thought about it, it does makes alot of sense! I was just very excited to see the "Congratulations! You're Approved" I haven't seen that for at least a DECADE. Due to all of my student loans and to finally get that 1 it just gave me the "go signal" to try for the others.. which was really bad on my part. I'm still learning how to garden and how to work on my score. I can honestly say that I make enough monthly that I dont need a credit card but I dont show any credit card at all on my report. I paid a car in cash and our mortgage loan has only been under my husband's because of my VERY poor credit history mostly from student loans.
I was wondering about that Utilization, I can maxed the $500 credit limit I have right now and pay it off the next day? I dont really know if that's the way to do it, or max it and pay 90% off it later? what will be the best approach? I want to get a score upto 750 if all possible.
Thank you for yours or anyone that could enlighten me!
@Anonymous wrote:^ thank you for your kind words and the time spent replying
I was wondering about that Utilization,
I can maxed the $500 credit limit I have right now and pay it off the next day?
I dont really know if that's the way to do it, or max it and pay 90% off it later?
what will be the best approach? I want to get a score upto 750 if all possible.
Thank you for yours or anyone that could enlighten me!
1) This is a GREAT example of somebody 'trying' the do the right thing but the 'system' and it's marketing machine has them all twisted.
Not your fault but listen up!
2) In it's simplest terms utilization, other than paying on-time obviously, is the most important aspect of the credit game.
You control it.... you decide how you look....the computer scoring model is all about %, the numbers nothing more, just the stats
Again simply stated it's a math equation ...think of letter grads in school
A 'C' grade would be keeping your 'reported debt' divided by your CL at no more than 30%
Ex: $150/$500 = 30% util or I prefer 30% debt load or debt/CL ratio
Anything higher and your grade starts to slip lower than 'C'......(btw at like 70% it's considered an 'F' or maxed out fyi)
Keeping with the analogy
To be a 'B' student you want to keep your debt/CL ratio at no worse than 20%.......
using a $500 CL ...we are talking no more than a reported debt load of $100.....ie $100/$500 = 20%
'A' students are going to be below 10% or $50/$500 ( but to show 'some' usage at least 1%) so ideal is 1-10%.. No more.
And just so we are clear the top 46% of CC holders can and do maintain 10% or less usage ratios....
Many will ask HOW is that possible? One way is NOT to use credit as if one has large limit cards, when they are still in the
credit limit minor leagues....it's just that simple.
It's like a minor league ball player trying to spend like a major leaguer....wait your turn before you show your as or you''l never get
the big contract 'get it'....right now you do EVERYTHING right, till you get to the big leagues, if not you stay in the minors forever.
Last thing, IMO there is NO NEED the max out low limits cards 'chasing' a few reward points when the goal at that level should be to
build a solid history of
a) on-time payments (35% of score) and
b) great debt/ratio (30% of score)
that's 2/3rds of the scoiring model....playing the charge up, pay down game is just playing with fire for no good reason IMO
The 'game' should be practicing on keeping payments on time and balances low.....and allow TIME (10% od scoring) to do it's thing.
Since, you don't have an installment account (b/c you paid cash for the car and the mortgage is under hubby...) if I were you I'd
set up a secured loan and 'pay' it back..thus adding credit mix (10% of the scoring model) and a good (installment) TL to your reports.
That way you are addressing a lot of the scoring model, with extra strokes
35% on time
30% debt util
15% aging/time
10% credit mix
____
90% of the model being touched (the other 10% is inq/new credit...it is what it is, there)
Everybody knows I like using the same secured funds to
1) Secure a small secured PL ...then use the 'loan proceeds' to
2) Secure 1 or 2 or 3 secured CC's then use the CC's to make payments on the loan
killing 2-3 birds if 1 stone ( the only 'cost' is a very little amount of % for the 'loan' 2-3% tops...ie $15-$25 over the course of a year or 2)
This allows for the illusion of a bunch of on-time payments, the credit mix of revolvers and a installment account,
with low debt/ratio....all for the number crunching 'dumb' computer scoring model to 'see'....remember it's just running numbers on percentages,
we'll worry about the big boy/girl CL's as they come....upfront it's all about the percentages.
Work them in your favor, especially NOW...when you don't NEED credit to pay your expenses....this is the PREFECT time to BUILD!
Build it BEFORE you 'need' it!
Take the next 15-25 months to build it right and you'll never look back....build it, while you don't NEED IT.....so when you want to use it, it's all grown up