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Hey Guys,
Little background about me, I moved to America in 2010 never really carred about my credit back then. I got my first 'secured' card with BoA last year in october with a 300 limit. Since then I've never used more than 20% on my card and paid of in full every month. Last month I got approved for a Discover IT with a 1500CL and a capital one platinum with a 300 CL surprisngly low...
My question, my transunion score is 711 right now, hoping to get to 750 by the end of the year. Should I apply for more crads or work with the ones I have now and jope for a CLI after 6 months. As soon as I have my 6th statement from BoA I'm going to call them and ask them to switch me over to a unsecured card. Like I said, I'm new to this whole "credit" thing and I'm not trying tu hurt my credit with too many applications.
Thank you
Unless you have a specific card in mind that you could really use I'd wait for a while. In three months you should be able to get CLIs on both the Discover and Cap One. If you don't have an installment loan I would look into the shared secured loan trick that has been posted around here a few times. For optimum scoring, conventional wisdom is three revolving accounts and one installment.
@EAJuggalo wrote:Unless you have a specific card in mind that you could really use I'd wait for a while. In three months you should be able to get CLIs on both the Discover and Cap One. If you don't have an installment loan I would look into the shared secured loan trick that has been posted around here a few times. For optimum scoring, conventional wisdom is three revolving accounts and one installment.
+1
I heard BoA can be a pain in the ass when trying to get the card unsecured, should I just tell them I'm closing my account if theyre not going to lol?
@Anonymous wrote:I heard BoA can be a pain in the ass when trying to get the card unsecured, should I just tell them I'm closing my account if theyre not going to lol?
In my experience BofA was pretty straight forward when it come to graduating a secured card as long as you use the card resposibly and make all of your payments ontime...just from my experience anyway....good luck on whatever you decide...
There are lots of different credit scores. You'll want to verify what sort of score will be used for your credit applicaiton later this year.
Are Cap1 and Discover already showing up on your credit reports, and with what balances? Don't apply for new credit for at least 6 months before and make sure the balances you cards report are $5-10 on one card and $0 on the rest. Don't stress over limits and unsecuring, those are nice but they won't improve your scores.