Wow, long post =]
Welcome to MyFico
@Anonymous wrote:Im 21 years old. I'm looking to buy a house within 3 or 4 years. I'm looking to do whatever I can do right now to be in the best position possible when I'm ready to buy the house.
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My credit scores are:Transunion: 715
Experian: 699
Equifax: 665Vantage: 711
Where did you get these scores from? If they aren't from MyFico, they aren't true FICO scores (and most likely aren't used by lenders). Vantage def isn't a FICO, but I know some lenders use it, rarely.
I have $2,900 currently on the cards and that will be paid off before the end of the year, which will raise my score. Once they're paid off I won't be charging a lot, just what I can pay off in full each month.
The Equifax should be higher, but I can't check it until next month.
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My credit cards and only pieces of credit are:Capital One Secured: $750—10/2012
If you don't want this ( ^^^^ ) dump it. Get your deposit back and stop paying an annual fee.
Capital One Quicksilver: $4,000—04/2014
Chase Freedom Rewards: $2,200—09/2014I don't really need the secured card anymore. I would like to close it and get a Discover rewards card, but the secured card is my longest piece of credit history so I might as well keep it open.
It will continue to stay on your reports for up to 10 years, I would say close it if you dont need it.
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I currently gross $26,000 a year before bonuses and over time. With bonuses and minimum over time my gross would be $42,000. I have a plan to pay my car off, have $2,000 saved up for an emergency fund and $10,000 saved up for a house. I do not have a car loan, I pay my father so that doesn't count as credit.
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Now my question is what can I do to make a bank give me the most money possible? Not that I'll use it all, but I'd like to see what's available.Treat your credit well. Pay on time, don't max out your cards. Continue doing what you're doing.
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How can I raise my score to the 800s? It should be around 750 after I pay off my credit cards.When you plan on applying for new credit, you want your utilization to be low. This means pay all BUT ONE of your cards down to a $0 balance BEFORE your statement is generated for that period. Leave the last card with a balance that will put your util between 1-9%
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Should I apply for the Discover rewards card now just to have it so it can start aging and earning me points with Discover, which would make them want to raise the limit over time, which would raise my overall available credit?If you want it, and you'll use it, go ahead and app for it. (App before you close your cap1 secured)
I'd take a hard inquiry and my average credit age will go down from the .83 years it's currently at, but the sooner I get it the better right?
Then my 3 relatively new cards will all be about 3-4 years old when it's time to buy a house, my hard inquiries will be down to 0 and my report will show more on time payments.I'd also be open to an American Express, but Credit Karma is recommending a Citi Diamond Preferred blablabla...
Credit karma's recommendations are horrible. Don't listen to them. Amex is a possibility, but if you just want it because "it's amex" then I say skip it.
Having 1 Visa, 1 MasterCard, 1 Discover and 1 American Express would be nice. Should I just get a Discover and an American Express now and let them age and grow? Then cancel the Secured card in a few years when all my cards are around 3 years old? I'd have 4 good cards that I can keep for life and just upgrade the accounts as better offers come along if I were to do that.
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Would getting small loans and paying them back help my credit score? For example, the bank gives me $1,000 and 30 days to pay it back. I don't use the money, but pay it back on day 29.I've read it only helps your score until the loan is paid off, then it comes off your record.
However I've also read that the loan may stay on your report for 10 years.
However however, won't that give me a hard inquiry every time I apply for a loan?
However however however, when simulating how much money a bank will give me for a home it asked what was the highest amount of money I've been approved for on a loan and I've never gotten a loan before. So should I get one?
Applying for an installment or secured loan would help your mix of credit. if it is something you're willing to do, I'd say go for it. I'm not a total pro though.
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Any suggestions or comments would be appreciated.
Hope this helps! 
Every one of those sites offer a FAKO score and your scores are most likely totally different than those. I would suggest buying your scores from this site to see where you truly stand.
@Anonymous wrote:Im 21 years old. I'm looking to buy a house within 3 or 4 years. I'm looking to do whatever I can do right now to be in the best position possible when I'm ready to buy the house.
––––––––––––––––––––––––––––––––––––Slow down there cowboy. Talk to a friend, or group of friends who own houses and see if it's for you. You think rent is expensive?
My credit scores are:
Transunion: 715
Experian: 699
Equifax: 665Vantage: 711 (This score might as well be called DisadVantage, it means about as much as what shoe size you wear.)
I have $2,900 currently on the cards and that will be paid off before the end of the year, which will raise my score. Once they're paid off I won't be charging a lot, just what I can pay off in full each month.
The Equifax should be higher, but I can't check it until next month.
––––––––––––––––––––––––––––––––––––
My credit cards and only pieces of credit are:Capital One Secured: $750—10/2012
Capital One Quicksilver: $4,000—04/2014
Chase Freedom Rewards: $2,200—09/2014I don't really need the secured card anymore. I would like to close it and get a Discover rewards card, but the secured card is my longest piece of credit history so I might as well keep it open.
(Leave your secured card be until you pay your balances down, your current UTL is 42% and without it, it'll jump to 47%; Which is already instadenial territory.)
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I currently gross $26,000 a year before bonuses and over time. With bonuses and minimum over time my gross would be $42,000. I have a plan to pay my car off, have $2,000 saved up for an emergency fund and $10,000 saved up for a house. I do not have a car loan, I pay my father so that doesn't count as credit.
You gross $26,000/year. Bonuses and Overtime are never guaranteed, so they do not count.
You have a plan to do all these things, and have all this money; but in what timeframe?
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Now my question is what can I do to make a bank give me the most money possible? Not that I'll use it all, but I'd like to see what's available.Have money as collateral.
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How can I raise my score to the 800s? It should be around 750 after I pay off my credit cards.Time.
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Should I apply for the Discover rewards card now just to have it so it can start aging and earning me points with Discover, which would make them want to raise the limit over time, which would raise my overall available credit?Don't apply for anything. Let your accounts age.
I'd take a hard inquiry and my average credit age will go down from the .83 years it's currently at, but the sooner I get it the better right?
Then my 3 relatively new cards will all be about 3-4 years old when it's time to buy a house, my hard inquiries will be down to 0 and my report will show more on time payments.I'd also be open to an American Express, but Credit Karma is recommending a Citi Diamond Preferred blablabla...
Having 1 Visa, 1 MasterCard, 1 Discover and 1 American Express would be nice. Should I just get a Discover and an American Express now and let them age and grow? Then cancel the Secured card in a few years when all my cards are around 3 years old? I'd have 4 good cards that I can keep for life and just upgrade the accounts as better offers come along if I were to do that.
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Would getting small loans and paying them back help my credit score?Over time, yes. Otherwise all this does is make it look like you're always strapped for cash, and brings down your account age.
For example, the bank gives me $1,000 and 30 days to pay it back. I don't use the money, but pay it back on day 29.
Look at answer above.
I've read it only helps your score until the loan is paid off, then it comes off your record.
However I've also read that the loan may stay on your report for 10 years.
Yep.
However however, won't that give me a hard inquiry every time I apply for a loan?
Usually
However however however, when simulating how much money a bank will give me for a home it asked what was the highest amount of money I've been approved for on a loan and I've never gotten a loan before. So should I get one?
Depends on your income and other obligations.
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Any suggestions or comments would be appreciated.
