Hello. I am in college and recently got my first credit card in december. It is the Discover it chrome for students. I have been paying it ontime everymonth and keeping under 30 bucks a month. It started at 500 limit, but i did the online CL and boosted it to 1k the other day. I know i dont have a FICO score yet but my TU and EQ vantage scores are 681 and EX is 696. As i only make 500 a month while im at school, I opend a credit builder loan. I know this is a good way to force a poor college kid to save haha Was this a good idea and will it help me with my scores at all? Will this credit builder loan of 500 help my scores? I plan to get another credit card in december when I have a year of ontime payments.
Anyone know what cards I should think about applying for? I dont think its a good idea now because im a student but I have the credit builder loan of 500 debt so im assuming I would get denied based on my income. Any suggestions? Should i try now to get another or wait till I pay off some the credit builder loan
It sounds like you are on the right track, don't miss any payments, try to keep your balance right around 10% or under compared to your limit also don't build up too many hard inquiries such as CL increase requests or attempting to open other lines of credit