@SecondToLastDraftDodger wrote:As I stated in other threads, I'm fairly new to credit. I just never used it in my 20s and 30s and suddenly found myself needing to establish credit. So, I ended up getting three cards in a 6-month span. I was planning to get three cards over a 12-month span, but a situation arose where I could get two solid cards fairly close together and let them age together.
Once this month's payments post, my oldest card will hit 12 months and my youngest will hit 7 months, with an average age of accounts at 9 months.
Right now, the scores are hanging around 720, which I know is due to such a short history. There's no history of bad credit--just no credit until a year ago. So, my question is, when can I expect my score to start moving up a bit?
You can expect your scores to start inching up anytime soon, so long as you keep your utilization low (optimally letting one of your 3 cards report a small balance each month before you pay it off, while the other 2 cards report zero balances) and refrain from new credit applications or anything that could trigger a hard pull. You can expect a significant increase when your youngest account reaches 12 months or more, but you will lose the points you've gained at that milestone whenever you add a new account.
@Marcus09 wrote:Hii,
Consistently making on-time payments is crucial for building positive credit history. As you continue to make timely payments, your payment history will improve, positively impacting your credit score. Keeping your credit card balances low relative to your credit limits is essential. Aim to use only a small percentage of your available credit (typically less than 30%) to maintain a favorable credit utilization ratio.
I hope this will be help you.
Welcome @Marcus09
You can use all you want of your CL during a statement cycle. More use. Banks make more. Better chance when you ask for a CLI. Its before the statement cuts you want to pay down to as low as possible depending on number of cards. >28% reported ater satement cuts is when it kicks you. So use has no impact of util. Its whats reported come statement date.
@SecondToLastDraftDodgerYou got whats needed for the FICO bonus with 3 cards. Do you have any loans open? Sit back and relax and wait till end the of the year and your scores will rise even more and easier to get the cards you want now. Higher scores. Easier approvals and mostly lower APS's in some cases. Congrats on your run there. Its a marathon and not a sprint to build a file.
