Need Credit Line Suggestion
[ Edited ]
10-07-2012 10:25 AM - edited 10-07-2012 10:26 AM
I'm new to the credit thing. I've never really been concerned about it before now. I'm 33 yrs old and my credit history right now goes back to February of this year when I took 500 bucks and opened a secured credit card with Wells Fargo. This is my first credit card of any kind in my life. I had no credit score at that time. Currently, my credit scores are EQ-709, EX-717 and TU-734. My EQ was 725 until a couple weeks ago when Wells reported a high balance on my secured credit card. Nothing owed, just a high balance and that will be taken care of by the next time they report. I have no debts. My major problems are my short credit history and that I only have one line of credit.
As of right now, this is an update on matters. About a week ago, I co-signed on a vehicle. The monthly payments will relfect on my credit. So that will be my second line of credit. Yesterday, I went to lowes for the first time in my life and applied for their card and was approved with a $6,000.00 limit. Later in the evening yesterday I also went to Walmart and applied for their card and was approved with a $600.00 limit. So that's 4 lines of credit.
I'm looking for more lines of credit in general as I don't know how many are good or bad to have, but I'm also looking for at least 5 in particular because of a business loan I'm trying to get that requires at least 5 lines of credit.
I have no credit cards(unsecured). I've been getting offers recently, but I haven't applied. Which ones would you all suggest and what would you all suggest overall for someone with a credit profile such as mine? No debts, no delinquincies, 8-9 months of credit history, 700's credit scores across the board?