topic Re: NFCU Signature Reward in Credit Cards

NFCU Signature Reward

HisFirstLady — Sun, 14 Apr 2013 20:30:59 GMT

I was approved for my very first credit card with a $5k credit line is this enough or should I get one more card? I'm trying to boost my score in 4 months from 605 to at least 620

Re: NFCU Signature Reward

LS2982 — Sun, 14 Apr 2013 20:36:00 GMT

@HisFirstLady wrote:
I was approved for my very first credit card with a $5k credit line is this enough or should I get one more card? I'm trying to boost my score in 4 months from 605 to at least 620

CONGRATS!!!

I would garden that card for 6 months then go for prime cards (Discover / AMEX / Chase).

Re: NFCU Signature Reward

HisFirstLady — Sun, 14 Apr 2013 20:44:12 GMT

thanks! I really don't like using credit cards hence why I'm 30 and never had one but apparently they help with building credit

Re: NFCU Signature Reward

webhopper — Sun, 14 Apr 2013 20:58:41 GMT

What is the reason behind the need for a 620?

Are you looking to apply for a mortgage or other loan anytime soon?

If so...

Welcome to the MyFICO Community Forums!!

I see that you are looking at the possibility of a mortgage in the future... since that is the case, I highly recommend that you check out the MyFico Mortgage Loan forum.

Below is a short list of helpful mortgage loan related links that may help you prepare for the process:

Guide to Common Abbreviations - Barry

Mortgage Acronyms & Abbreviations (what does PITI mean?) - ShanetheMortgageMan

Good Faith Estimates Explained - ShanetheMortgageMan

The Mortgage Pre-Approval Process - ShanetheMortgageMan

Evaluating Conventional vs. FHA (VA & USDA)- ShanetheMortgageMan

Definately feel free to post any questions you have about DTI and Pre-Approval Odds over there!