Credit increase a mistake?

[Anonymous]

Ideally you want about 3 cards. Try to spread out your applications by about 6 months. Whatever you do, don't apply for anything for 12 months before you start mortgage shopping.

Also, do you have any outstanding loans? Student, auto etc.

[Anonymous]

Completely normal good job !!! 7 month is when they check to see if they can unsecure it

[pizza1]

Congrats to you on your CLI! Like others have said, sounds like your card graduated!

[Anonymous]

I have one I guess major jet from school not a loan but I do need to pay $2000 back, which is not as big as normal college loans. I plan to make payments for in the near future. I do want to pay all outstanding balances within 2018-2019.


When it comes to cards I'm just not sure of the best card for me. I do want to have an Amex but I've heard like discover it's kinda a unwritten rule that they would rather you not have existing balances and make payments in full. Could be misinformation, but that how I've been proceeding. Other than that I'm not sure on what cards offer the best rewards, more so planes miles would be perferable. I've done some research also I want to go with someone that I would have the best chance for approvals

[Anonymous]

I've been using credit karma to research I guess what they call "approval odds" based on my score. Do you have any recommendations on other sites so I could compare?

[Anonymous]

Yes the best i would say is experian.com the actual credit bureau that shows your true fico & the best part of all is its free just sign up my friend

[Anonymous]

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@Anonymous wrote:
So I have absolutely no credit. In order to build I had to do a secured card. I chose discover. And originally wanted a $500 limit but after a mishap it's was $200 and I never cared enough to update it. I've been paying my balance in full every month. This morning I wake up and it went from $200 to $1250 which is a BIG increase. Could that be some type of mistake?

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Like many others have already stated, your Disco card just graduated.

And if all of us made "mistakes" like you did, then we'd all be very very

happy. Congratulations! You sound like you were pleasantly shocked!

A 6x credit limit increase right out of the gate is very impressive!

BTW, the "best card" for you is the card you want. Only you know what

your spending habits and patterns are, so take your time and pick 2-3 cards

that best suit your needs. And if you haven't already, I would highly recommend

that you give serious thought to joining a credit union. Pen Fed and Navy Fed

are top favorites here in the forum. Pen Fed does not require military or gov't

service. Anyone can join in exchange for making a donation or contribution.

CU's also offer terrific mortgage rates. Once again, congrats on your "mistake"!!!

[xaximus]

Congrats! That's a great start to good credit history! 

As for the best card - there's hundreds of cards, what you really want to decide is what card(s) are the most bang for your buck? Questions I'd ask and see what's best.

Do you travel? Sometimes? Often?

Dining out? Sometimes? Often?

Groceries? Gas? Bills? 

What matters to you, rewards like points? cash back?

All of that stuff matters in deciding what's a good card or not. Also, as mentioned before, join a credit union, once in, you can build a history with them and then get a good mortgage from them as well.

Best of luck on your new credit journey!!

[Anonymous]

I actually have Navy Fed because my parents were in the military. I know they have an amex available through them also.

[Anonymous]

It's probably a good time to pull your credit reports and make sure everything is in order.  You can get them for free once a year by going to https://www.annualcreditreport.com.

For credit mix purposes you'll want to always have at least one active loan.  If your report shows you don't have one look up the "Shared Secure Loan Technique" on the forum.  It won't cost you much and it could seriously improve your score.

Finally, if you want an AMEX, do your research ahead of time and find out which one fits your spending habits the best.  Then go to the pre-qualification site (Found from the main AMEX website by clicking on "Cards" at the top of the page and going to "Check fo Pre-Qualified Credit Card Offers.")  and see what you qualify for.  It's only a soft pull so it won't affect your scores.