Navy offers a free FICO 9 score which you can use as a measure on how ready you maybe to apply for a credit card. It's not a given but without seeing your internal score this at least gives you a general idea how you are doing and since they like to pull EQ for various products it can help. Just a thought
@Anonymous wrote:Here are some suggestions:
* Do not apply for any more accounts for the next few years, with the exception of the 60-month Navy SS loan, a car loan, and a mortgage. And only apply for the car or home loan if you really need the car or home.
* Always have at least one card produce a statement with a positive balance, and then always pay the statement balance in full a week after it prints.
* See if you can always have the two AU cards always report a $0 balance. Is that a possibility?
* Of the four cards in your name, I would allow two to report a positive balance and then switch it to the next two the following month. This is not necessary but some people (e.g. contributor Thomas Thumb and myself) feel like a person like you might get an advantage long term out of creating a clear record that all four of those cards are being used. The four CC issuers will be able to see that all four cards are occasionally used. An alternative would be to primarily use one card and then alternate the other three (using one each month for a small purchase).
* Note that AZEO gives you no help long term in building your scores. It's a technique that comes into its own in the month before an important credit pull, when you want to get every available extra point.
* Implement the SSL Technique with Navy.
* Most importantly, explore whether you can get all of your derogs removed. The folks in the rebuilding forum can suggest strategies for that. You may need to wait until you have exhibited 6+ months of perfect behavior before going full throttle with Goodwill Letters.
Having the AU cards report a $0 balance will be a possibility by August. I can implement the rest of your suggestions and will transition to alternating two cards reporting a balance each period. That's a different approach but makes sense due to AZEO's intended use. Thank you for taking the time to provide guidance. I look forward to reporting back with updates!
@AverageJoesCredit wrote:
Navy offers a free FICO 9 score which you can use as a measure on how ready you maybe to apply for a credit card. It's not a given but without seeing your internal score this at least gives you a general idea how you are doing and since they like to pull EQ for various products it can help. Just a thought
Thanks, AJC! Since i'm a new credit customer of NFCU, i'll have two wait a few weeks longer before the FICO 9 score populates. I activated my card on 5/5/2018 and still waiting for my first statement to generate. Based on another thread, it could be up to 2-3 statements, at the longest.