Hey World!
I am 100% new here, but I have been reading the forums for sometime now. I just wanted to share my journey with you all! Here goes nothing:
It all begin in 03/2019. Something in me snapped, and I said “I’m 27, it’s about time I build my credit.” So my mother co-signed for me a 2019 Nissan Sentra. Around that time I have also been reading about self lender, and secured credit card. So I signed up for Self Lender, and a secured Greendot Visa which I deposited $200 to. My first month beginning to build credit, and I have opened 3 lines. Good start.
Now, before my mother signed on the car for me I had applied for the Credit One Platinum VISA. I was denied. It said as clear as day under the reason for denial “lack of auto loans.” So I knew once the car showed up on my credit I would reapply.
Late 04/2019 the car finally hits my credit! So immediately I reapply for the Credit One Platinum VISA, GOT IT! $400 CL, I wanted to try my luck again right away. So right after that approval, I noticed in my Credit Karma I can get the Total VISA so I applied for it as well just minutes after my approval. Got it as well $300 CL.
It appears that my actual FICO from the initial open account was 498. I didn’t have a FICO before the car, self lender, and my secured card accounts that reported as new accounts in 03/2019.
My score has been increasing every month since 03/2019. What’s cool is by 06/01/2019 my FICO went up 51 points just because of account age, it said something about having accounts in good standing for a certain period of time.
Anyways, by 06/05/2019 I had fair credit. Currently as of 10/02/2019 my scores are EX 581, TU 571, EQ 590. These are my scores with 3 maxed out cards. I’m paying the balances in full, I will update you guys on the increase! I believe I have about 75-100+ points tied up in utilization.
I’m predicting that my scores will be 680-700ish after paying the balances off. Let’s see!
NOTE: Oh I have a Fingerhut installment account, not the actual revolving credit so I saw no benefit. Will update a score increase when graduated to revolving credit with them as well!