How am I doing so far?

Anonymous · ‎08-16-2015

19 Year Old Student Making 32000 per yr

I have a student loan that I paid 15 percent of, I have been getting trigger happy with applications lately as, I have been studying these forums. Everytime I add a new account my FICO goes up 10-20 points!

04/2015 578

08/2015 660

Loans: USDEPTEDUCATION:$2,964 NFCU USED AUTO LOAN 5,364

CC's NFCU GO REWARDS: $500, US BANK FLEX PERKS $300 7/2015 approval for both of these. NO BALANCE

STORE CARDS: AMERICAN EAGLE $150 (FREQUENT SHOPPER) MACYS: $800 Amazon Store: $800 (I LOVE AMAZON)-- NO BALANCE

TODAY 8/16 I WAS APPROVED FOR CAP 1 QUICKSILVER $300 and, USAA AMEX $3,000!!!!!!!!!! I FINALLY HIT FOUR DIGITS

Should I Stop? Or go for one more to make 10 open accounts LOL

BTW, despite my young age I HATE CC I just love to know I have the funds are there, and plan to use them just so I do not get CLD's and, to improve my CS.

Anonymous · ‎08-16-2015

Im confused. Your a college student but have to pay student loans? Those should be deffered until graduation?

And how do you make $32 as a college student? lol

I would stop apping. Im not a fan of cards you dont need.

Congrats though

Anonymous · ‎08-16-2015

I don't have to pay it right now, I choose to. It's like Why not when I can afford it at the moment. I go to school full time, and work full time. I work for a Tech Company in California so the pay is well and, my COA is low. So I have CAP 1 QS MC @ 300 USAA AMEX @ 3000 NFCU GO REWARDS VISA @500 US BANK VISA FLEX @ 300. Should I try one more? MY AAoA is almost at a year in a few weeks <3

Kenny · ‎08-16-2015

Your AAoA changes with every new approval that finds its way to your credit report.

You're doing GREAT. I would garden unless there is a particular card that you want/need for general spending. You have the QS so that's 1.5% on all spending if you use this card a lot it will definitely grow -- don't be defeated by the low starting limit.

In 3-6 months that can change very much with good usage/payments.

Congrats!

Take the myFICO Fitness Challenge

Anonymous · ‎08-16-2015

First off congrats on that income. I'm the same age as you and only make $10/hr or around 14-15k/yr. Secondly if I was you I'd just garden for awhile to let your scores get a bit higher and get somr CLI's on those other cards. Cap 1 will for sure increase the QS1 a lot higher in 6 months or so.

Anonymous · ‎08-16-2015

QS*

Anonymous · ‎08-16-2015

What is your CS and how many Inquiries do you have if you do not mind me asking?

Kenny · ‎08-17-2015

@Anonymous wrote:
What is your CS and how many Inquiries do you have if you do not mind me asking?

Remember not everything is about the score. With time and perfect payment history it will go up and up!

Take the myFICO Fitness Challenge

Anonymous · ‎08-17-2015

@Anonymous wrote:
@I don't have to pay it right now, I choose to. It's like Why not when I can afford it at the moment. I go to school full time, and work full time. I work for a Tech Company in California so the pay is well and, my COA is low. So I have CAP 1 QS MC @ 300 USAA AMEX @ 3000 NFCU GO REWARDS VISA @Anonymous US BANK VISA FLEX @ 300. Should I try one more? MY AAoA is almost at a year in a few weeks <3

You are doing SUPER!!!

You have some good banks that should really grow with you without you needing to add new accounts.

Read thru the forum and mark your calendar to request SP CLIs.

- USAA will be six months to request a CLI on the Amex but it will be a hard pull.

- US Bank I have read on here love to grow with their customers so use it and pay it and I would suspect it will grow too

- NFCU - make this a goal for life! with this bank! Read CreditAddicts step by step guides on this forum and at 19yo you can take it slow, this one account will help you long term and they will probably start showing you pre approved offers in your online account down the line. Watch for their SP inquiry and then call in and see if they have an offer for you in a few months to CLI.

- Cap 1 - if you are credit steps it will increase at 6 months.....try around 3 months to hit the CLI online (its SP so you can try as often as you like)

- American Eagle - once you have it you can call Credit Solutions and ask fro a CLI - it will be soft pull.

Like I said you have great cards that will grow, garden as others have suggested. Once you garden these 6 mo to a year, you should see much higher starting limits if you apply for other cards you target for yourself. But, research the rewards you want down the line and with which banks....don't just app to app.

NFCU will serve you VERY well if you are good to them and getting in at 19 years old will set you up for life with them by your side....GOOD JOB!!!!

Anonymous · ‎08-17-2015

Fico 8 scores:
Ex: 731-----inq:3
TU: 703 (had old utl)----inq:10
EQ: 723-----inq:7

Just remember that your CS isn't everything. I've seen people here with decent scores get denied because they had baddies or burned the company in the past (Amex). So whatever you do OP just make sure you pay on time, PIF and dont let a crazy high utl report.

P.S Refrain from getting too many inq's like me haha. When I turned 18 last year I went on a app spree and got denied by like 5 different lenders