Hello Fico Forums! New member speaking, nice to meet you all!
My name's Karandeep, I'm here today seeking some advice from you guys on the board, about how I should go about building my credit!
I feel like i'm starting a bit late, (18) to build my credit, but, here we go. So I recently got a job, which I am starting this coming month. I'm planning to get a Secured Student Card through my bank, with a 14.99% APR. (Golden 1) to try and start building my credit. My Mother recently put me on as an AU on her Discover Card, but the story with that card is that the balance on that card was a balance transfer from another card. Currently she owes about 2K on that card, 0% interest for 18 months. The way the woman on the phone explained it on my mom, whenever my mom makes a payment on the Discover card, (She currently doesn't use it for any purchases, she just makes payments towards the 2K balance transfer) My credit gets built. I'm a bit confused on that, so if someone could clarify that, that'd be wonderful!
Since I start working next month, i'm going to be getting a Secured Student card with my bank, I am not a big spender at all, don't have any debt at the moment, (I'm currently in a community college completing GE.) My goal is to see if I can establish a score of at least 600-620 by the end of 2015. I also own my own business, A small graphic design business, most of my clientele that i've worked with thus far has been through the word of mouth of people I know. I know how hard it is to earn a dollar, and that's why i'm not a big spender. The reason I want more advice on how I can build my credit, is because of my long term goals.
You see, I already know I want to be an entrepreneur in the future, and I know that having good credit will open many doors for me, whether it's getting a loan for a Real Estate Investment, or anything else you can imagine, I want to start building strong credit. If you have any advice, tips, pointers, everything is appreciated!
Thank you guys so much! Looking forward to being a more active member of the Forum. 
- Karandeep
@Anonymous wrote:Hello Fico Forums! New member speaking, nice to meet you all!
My name's Karandeep, I'm here today seeking some advice from you guys on the board, about how I should go about building my credit!
I feel like i'm starting a bit late, (18) to build my credit, but, here we go. So I recently got a job, which I am starting this coming month. I'm planning to get a Secured Student Card through my bank, with a 14.99% APR. (Golden 1) to try and start building my credit. My Mother recently put me on as an AU on her Discover Card, but the story with that card is that the balance on that card was a balance transfer from another card. Currently she owes about 2K on that card, 0% interest for 18 months. The way the woman on the phone explained it on my mom, whenever my mom makes a payment on the Discover card, (She currently doesn't use it for any purchases, she just makes payments towards the 2K balance transfer) My credit gets built. I'm a bit confused on that, so if someone could clarify that, that'd be wonderful!
Since I start working next month, i'm going to be getting a Secured Student card with my bank, I am not a big spender at all, don't have any debt at the moment, (I'm currently in a community college completing GE.) My goal is to see if I can establish a score of at least 600-620 by the end of 2015. I also own my own business, A small graphic design business, most of my clientele that i've worked with thus far has been through the word of mouth of people I know. I know how hard it is to earn a dollar, and that's why i'm not a big spender. The reason I want more advice on how I can build my credit, is because of my long term goals.
You see, I already know I want to be an entrepreneur in the future, and I know that having good credit will open many doors for me, whether it's getting a loan for a Real Estate Investment, or anything else you can imagine, I want to start building strong credit. If you have any advice, tips, pointers, everything is appreciated!
Thank you guys so much! Looking forward to being a more active member of the Forum.
- Karandeep
If all accounts stay positive with no negatives whatsoever, You should be way over 600-620. Credit does not start from 350. But it can fall that low with negatives.
@Anonymous wrote:Hello Fico Forums! New member speaking, nice to meet you all!
My name's Karandeep, I'm here today seeking some advice from you guys on the board, about how I should go about building my credit!
I feel like i'm starting a bit late, (18) to build my credit, but, here we go. So I recently got a job, which I am starting this coming month. I'm planning to get a Secured Student Card through my bank, with a 14.99% APR. (Golden 1) to try and start building my credit. My Mother recently put me on as an AU on her Discover Card, but the story with that card is that the balance on that card was a balance transfer from another card. Currently she owes about 2K on that card, 0% interest for 18 months. The way the woman on the phone explained it on my mom, whenever my mom makes a payment on the Discover card, (She currently doesn't use it for any purchases, she just makes payments towards the 2K balance transfer) My credit gets built. I'm a bit confused on that, so if someone could clarify that, that'd be wonderful!
Since I start working next month, i'm going to be getting a Secured Student card with my bank, I am not a big spender at all, don't have any debt at the moment, (I'm currently in a community college completing GE.) My goal is to see if I can establish a score of at least 600-620 by the end of 2015. I also own my own business, A small graphic design business, most of my clientele that i've worked with thus far has been through the word of mouth of people I know. I know how hard it is to earn a dollar, and that's why i'm not a big spender. The reason I want more advice on how I can build my credit, is because of my long term goals.
You see, I already know I want to be an entrepreneur in the future, and I know that having good credit will open many doors for me, whether it's getting a loan for a Real Estate Investment, or anything else you can imagine, I want to start building strong credit. If you have any advice, tips, pointers, everything is appreciated!
Thank you guys so much! Looking forward to being a more active member of the Forum.
- Karandeep
I don't think that's late at all. I started out when I was 19 and look what I have now in my signature.
You'll have great cards in no time if you're patient and keep your accounts in good standing. Also don't apply for too many cards in one sitting with a thin file.
@Anonymous wrote:
@Anonymous wrote:Hello Fico Forums! New member speaking, nice to meet you all!
My name's Karandeep, I'm here today seeking some advice from you guys on the board, about how I should go about building my credit!
I feel like i'm starting a bit late, (18) to build my credit, but, here we go. So I recently got a job, which I am starting this coming month. I'm planning to get a Secured Student Card through my bank, with a 14.99% APR. (Golden 1) to try and start building my credit. My Mother recently put me on as an AU on her Discover Card, but the story with that card is that the balance on that card was a balance transfer from another card. Currently she owes about 2K on that card, 0% interest for 18 months. The way the woman on the phone explained it on my mom, whenever my mom makes a payment on the Discover card, (She currently doesn't use it for any purchases, she just makes payments towards the 2K balance transfer) My credit gets built. I'm a bit confused on that, so if someone could clarify that, that'd be wonderful!
Since I start working next month, i'm going to be getting a Secured Student card with my bank, I am not a big spender at all, don't have any debt at the moment, (I'm currently in a community college completing GE.) My goal is to see if I can establish a score of at least 600-620 by the end of 2015. I also own my own business, A small graphic design business, most of my clientele that i've worked with thus far has been through the word of mouth of people I know. I know how hard it is to earn a dollar, and that's why i'm not a big spender. The reason I want more advice on how I can build my credit, is because of my long term goals.
You see, I already know I want to be an entrepreneur in the future, and I know that having good credit will open many doors for me, whether it's getting a loan for a Real Estate Investment, or anything else you can imagine, I want to start building strong credit. If you have any advice, tips, pointers, everything is appreciated!
Thank you guys so much! Looking forward to being a more active member of the Forum.
- Karandeep
If all accounts stay positive with no negatives whatsoever, You should be way over 600-620. Credit does not start from 350. But it can fall that low with negatives.
The discover account for which I am an AU is in good standing. The limit is about $7,500, she owes $2,000, makes well over the minimum every month, and has never missed a payment!
@chalupaman wrote:
@Anonymous wrote:Hello Fico Forums! New member speaking, nice to meet you all!
My name's Karandeep, I'm here today seeking some advice from you guys on the board, about how I should go about building my credit!
I feel like i'm starting a bit late, (18) to build my credit, but, here we go. So I recently got a job, which I am starting this coming month. I'm planning to get a Secured Student Card through my bank, with a 14.99% APR. (Golden 1) to try and start building my credit. My Mother recently put me on as an AU on her Discover Card, but the story with that card is that the balance on that card was a balance transfer from another card. Currently she owes about 2K on that card, 0% interest for 18 months. The way the woman on the phone explained it on my mom, whenever my mom makes a payment on the Discover card, (She currently doesn't use it for any purchases, she just makes payments towards the 2K balance transfer) My credit gets built. I'm a bit confused on that, so if someone could clarify that, that'd be wonderful!
Since I start working next month, i'm going to be getting a Secured Student card with my bank, I am not a big spender at all, don't have any debt at the moment, (I'm currently in a community college completing GE.) My goal is to see if I can establish a score of at least 600-620 by the end of 2015. I also own my own business, A small graphic design business, most of my clientele that i've worked with thus far has been through the word of mouth of people I know. I know how hard it is to earn a dollar, and that's why i'm not a big spender. The reason I want more advice on how I can build my credit, is because of my long term goals.
You see, I already know I want to be an entrepreneur in the future, and I know that having good credit will open many doors for me, whether it's getting a loan for a Real Estate Investment, or anything else you can imagine, I want to start building strong credit. If you have any advice, tips, pointers, everything is appreciated!
Thank you guys so much! Looking forward to being a more active member of the Forum.
- Karandeep
I don't think that's late at all. I started out when I was 19 and look what I have now in my signature.
You'll have great cards in no time if you're patient and keep your accounts in good standing. Also don't apply for too many cards in one sitting with a thin file.
Impressive! Thanks for your input! I've seen enough people my age get screwed doing that mistake, believe me when I say I won't be like them.
Hopefully one day I can add the Centurion to my signature.
@Anonymous wrote:
The Centurion's AF keeps going higher and higher.
AF? I'm sorry, can't say i'm familiar with that term. 
Haha