0 to 6,850 Spree

[Anonymous]

At the begining of this year I had no credit cards, so I decided to start building my base of credit cards that will last for a long road ahead. 

My plan was to get multiple credit cards so that my AAoA takes a less of a hit in the furture. At the age of 20, I decided take the hit now and sit in the garden while I work towards my bachloeres degree. This would allow me to build history and have zero to little inquiries in the future if I decide to get a morgage after college.

Income: ~ $12,000

I always PIF before my statement cuts, and only let one card report a ~ $1-$3 balance. 

The only loan I have is one for FAFSA ( started in 2015)

January - Amazon Prime Store Card ~ $1000 (First line of credit!!) 

April - Capital One Secured Card ~ $200 ($49 for 200 limit)

July - Amex BCE ~ $500 (No credit steps, not yet reporting)

August -

1. Marvel CC ~ $3000
2. Discover IT Student ~ $1250
3. BOA Cash Rewards Student ~ $900 (not yet reporting)

FICO: EX 711 EQ 702 TU 736 

I will request CLI in January for the ones that do a SP.

[Anonymous]

Congrats!  Great start and a great plan going forward!

With your income, you definitely want to also find some ways to start a small emergency savings account and let it grow over time.  I know someone who earns a little over you for 10 years and she's got a FICO8 in the 800s -- so as a student, you can start building towards that and in a few years you may find yourself in the 800 club as well.

[Anonymous]

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@Anonymous wrote:

Congrats!  Great start and a great plan going forward!

With your income, you definitely want to also find some ways to start a small emergency savings account and let it grow over time.  I know someone who earns a little over you for 10 years and she's got a FICO8 in the 800s -- so as a student, you can start building towards that and in a few years you may find yourself in the 800 club as well.

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+1 start that savings account!

You got good cards and i like your plan...stick to it!!! Don't get tempted in the future and only apply if you REALLY need to.

Come back in 10 years and let us know how your profile looks lol jk...but yeah, good luck!!

[Anonymous]

Thanks for the advice for that savings account!!!

@ABCD2199 : How did you know my secret goal was to get in to the 800s club

@c00mtg : The only CC I'm planning to get in the future is an Amex Business Card for my side business that I dont count as an income officially yet. I love the fact that some Business Cards dont report to personal credit bureaus.

[shoegal]

Congrats on the new cards! That's a great plan for the future. If you do open a savings account Alliant Credit Union has a great one. I have one there and absolutely love banking with them.

[Anonymous]

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@Anonymous wrote:

Thanks for the advice for that savings account!!!

@Anonymous : How did you know my secret goal was to get in to the 800s club

@Anonymous : The only CC I'm planning to get in the future is an Amex Business Card for my side business that I dont count as an income officially yet. I love the fact that some Business Cards dont report to personal credit bureaus.

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Also, if you know of other CCs you would want to open in the late future, it would not be a bad idea to start building a relantionship with those banks now.

[Anonymous]

Im thinking of starting a relationship with Chase. Any other Banks or Credit Unions that you recommend? 

[Anonymous]

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@Anonymous wrote:

Im thinking of starting a relationship with Chase. Any other Banks or Credit Unions that you recommend? 

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@If you can get in with USAA (Visa Limitless @ $0 AF with 2.5% cash back), NFCU and PenFed (Visa 5x per $1 on gas, no AF), i would do those. A free checking and/or savings account would work just to keep the relantionship going.

Also, US Bank - They have a great travel card (Visa Altitude)...maybe if you start traveling in the future and want a VISA CC.

Find a local credit union, they also have great auto loans.

Just start exposing yourself with good banks that you think you might use in the future. When the ime comes to appy, you will then have a long history with them, which will look better.

[AverageJoesCredit]

Great job. Its nice to plan your cc's but also keep in mind no one knows the future, things happen and needs/wants change so just keep that in mind as you progress through the credit world

[Total80sKid]

Congrats!

And ABCD is correct.

My mothers income was just over $12k for many years, her entire adult life, and had scores in the 800's.

It's not about your income, it's how you manage your credit