How do you build credit on a lower income w/ NFCU?

[Anonymous]

I have my car loan as well that I am paying off. I have two open accounts technically, but is that still enough or should I open another account?

[Meanmchine]

I suggest snagging 1 - 2 cards if u have an active cr loan

[Anonymous]

I actually thought it over and I went to see if I was pre-qualified for a couple cards so I went for it and got accepted. I was accepted for low amounts, but hey it's a start. I am excited to see where it goes. 

[Anonymous]

I would send a secured message to NFCU and ask for a recon. Asking for $25000 could be a red flag in their eyes. Maybe request to say you meant $2500. They'll look at your other balances etc and say $25,000??? It could happen. Maybe sit at a low balance for 3-4 months then try again. 

[Anonymous]

Ah, that could be very true. Thanks for the heads up. I will contact them and see what they say.

[pizza1]

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wrote:

I appreciate it! I will definitely work on getting that all sorted out in 2018. I am hoping to raise it above the 700 mark by the end of the year. 

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Earlier in another comment from you, you said you checked the prequal sites at a few places, and you accepted a few cards?  What were they, and the CL??

[Anonymous]

I got the double cash rewards card from Citi (500 CL), and the platinum card from capital one (300 CL). It's not much, but it is something. I plan on just staying in the garden for now after those inquiries. 

[AverageJoesCredit]

Good for you. Now Garden hard, try to use your new cards and Navy, try to pif 2 cards and keep one at below 9% and youll see your score rise in the comng months. All is possible with good credit managrment . Take it from me, im low income like yourself and i was wble to achieve 150k in credit limits. Just be mindful, our income really holds us back from spending alot on cards so as you build your profile, select cards that work for your spend. You can accomplish alot with 3 or 4 cards just as well as 20 lol

[Anonymous]

AverageJoesCredit, I appreciate the encouragement! That is definitely very encouraging and I look forward to staying in the garden. 

[joltdude]

Wow.. I'v never seen a 500$ DC... Thats cool you got approved..

There is a small problem when one only has 1 card.. It takes longer to beef up your profile.... Much longer... (voice of experience/mistake here not getting a second or third card sooner than I did) Fortunately you do have an installment loan..  Though you tend to often get a new account penalty... but usually the points you gain for the second and third card you actually can get points...... more than the usual penalty so your ahead...  As AJC said.. the thing with smaller incomes is don't spread your spend too thin with too many cards.... A smaller number of cards can end up with higher limits.. And when you have lower limits. you really should try to keep one card from reporting a balance over 9% and the rest no balance.. And garden... Id be gardening for a year and possibly longer and let things fall off and some inq fade... Navy fed will definitely grow on its own as long as your scores are improving... and Citi and COne can grow some too.. there might be a point when the Cone card gets stuck but for now.. it still has room for growth..... And you may want to take an HP with Citi but NOT NOW..... really revisit your situation in at least 9 months... but think the longer the wait, the better... You dont need more cards right now.. you just need them to marinate and let your score go up a bit..