Need Help! Building new credit

[Anonymous]

Hello everybody. I'm just starting to build my credit and wanted to see if you guys had any suggestions or advice for me. Thanks in advance. 

so I just started to build me credit. I had a completely clean report no open accounts, no collections, inquiries or nothing. So from the little research I did and advice from a friend I went ahead and opened up 2 secured credit cards. 

First Progress ($200) 

Discover It ($300) 

I also went ahead and did the Self Lender loan for 12 months... 

so what I was wondering is this good enough to start or should I add more accounts like becoming a AU on somebody's account or adding more secured cards ?

the goal for me is to be able to rent a apartment/house by August (they usually want at least 600) and to eventually get some decent higher limit unsecured cards and lease a new card in the fall.

i was thinking about adding jewelry club and new coast once I get a actually score to increase my amount of credit I've but I see some people say that doesn't matter.

please help.

[SweetCreditObsession]

You are off to a good start, having two positive credit cards and an installment loan. You could add one more card if you'd like or wait six months for those TL to report and scores to generate.

[Anonymous]

@SweetCreditObsession 

somebody else told me adding another card will be good, will that be better then becoming a AU with some history ? Also when you say new card you mean like another secured card ? First progress emailed me trying to get me to do another secured card..

[Anonymous]

I would avoid another First Progress card and stay away from the paid tradelines as well. Roll with what you have for now. If you report zero on the FP card and a small $15 or so balance on Discover, and handle your loan payment, you should generate some good scores. If you can  e made an AU on an aged tradeline we oth very low usage and no blemishes in its payment history, that could help you as well.

[SweetCreditObsession]

@Anonymous you do not need another secured card. At this point, you can afford to let these accounts age and provide proof that you are credit worthy. In a few months time, when they are reporting, try looking for unsecured cards that offer reliable preapprovals with no AF. Go for one of those. 

[Anonymous]

@SweetCreditObsession 

should I keep the balances a certain % ? I been reading a lot about something called the AZEO technique. But people say 3 cards.. 

[Anonymous]

OP, do it like I said above - that's the two-card version of AZEO. It'll help your scores.

[Anonymous]

@Anonymous  Ok you had also mentioned to become a AU on a good aged axxount if possible ? 

I didn't even notice you wrote zero balance on FP and the $15 balance on discover. 

[Anonymous]

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@Anonymous wrote:

@Anonymous  Ok you had also mentioned to become a AU on a good aged axxount if possible ? 

I didn't even notice you wrote zero balance on FP and the $15 balance on discover. 

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Yes, if you can become an AU on such an account, it'll help you both in age factors and in quality of tradeline (high limit, low utilization, no negatives). And yes, even with two cards you can still run a variation of AZEO. It's not quite as effective as if you had three cards but it still benefits you.

AZEO with more than two cards allows you to show a balance on less than half of your cards, which can net you extra points on some scores, but even doing it with just two cards still shows you reporting only on one card and gives you another with a zero balance, which will still put a smile on FICO's face.

[Anonymous]

@Anonymous  Is I ad a au will that count towards the 3 cards ? Another thing I'm a bit confused on how the AZEO works. For example I already have a balance

 on my first progress card for $29 and I haven't even gotten the card lol..

the account was opened 5/7, it says statement/Bureau reporting day 12th of the month 

and payment due date 9th if the month. 

I haven't gotten anything from discover yet. 

another thing. I was told if I do the au I'll get a FICO score soon as long as the card is over a year old but if I don't and just use these I've to wait months before I get a score.