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when you say major credit cards, do you mean Visa, MC, Discover, AMEX, etc?
Love this.
@egaithe wrote:when you say major credit cards, do you mean Visa, MC, Discover, AMEX, etc?
Yes, those are the 4 major credit cards, as opposed to "store" credit cards, or specialty retail cards.
Thank you guys for the advice, since my first post my credit score has gone up ten points! I am working to pay off ALL my debts in less than 3-4 months.
Shooting for that 700+ score this year!
Then I can go for that Lambo loan LOL
Total CL: $321.7k | UTL: 2% | AAoA: 7.0yrs | Baddies: 0 | Other: Lease, Loan, *No Mortgage, All Inq's from Jun '20 Car Shopping |
@Anonymous wrote:
Okay so I am 20 right now.
Have: Amazon Prime Card (4 months old)
PayPal Credit (6 months old)
TDECU Credit Card (exactly one year old)
Kohl's Credit Card (1.2 years old)
Firestone Credit (4 months old)
Capital One Credit Card (3 weeks old)
A couple of Affirm Accounts right now (couple months old)
$14k Car Loan with $7k left on it (one year old)
AAoA about 7-8 months
Utilization rate is about 50%
Credit Score is 649 and 655
What I suggest goes along with what others have mentioned. That is to pay off most of your current credit cards first. Leave one with a balance that is less than 10% of its credit line. That will maximize your scores. At that point you might be approved for a Barclay Apple card. Then you can use it's 0% financing offer if your limit is high enough to cover the computer without maxing out the card.
In the meantime, stop into Cap 1's website every 6 months to request a CLI (Credit Limit Increase). They are usually pretty good with this. And watch out for Firestone. I've heard horror stories about their service. Doing work that customers don't need and overcharging. This is coming from a car guy.
Here's another question: with all my debt....should I pay all of it off and have only enough for gas on my bank account every month until I pay it off?
Or
Pay a little a month (a little above minimum) so I can start saving?
+1
@Anonymous wrote:Here's another question: with all my debt....should I pay all of it off and have only enough for gas on my bank account every month until I pay it off?
Or
Pay a little a month (a little above minimum) so I can start saving?
Save a little for your emergency fund (6 x monthly budget) , but the majority of your "excess" monies should go towards paying off that debt. Start with the highest interest rates and work your way down when paying off debt. (hit your mins on all debt though).