what else to do to build a solid credit base?

[revvystoke]

I am 18, a regional tribal financial assistance case manager and started reading these forums to find tips and resources for my clients to help explain and manage their credit, this site has been an excellent help for me. I have started to try and build my own credit, but I have not been able to get a prime credit card. I have a steady income of 40k after taxes and my scores are Eq. 621 Tu 656. I have had 10 Inquires in the last 6 months.. My accounts are;

Discover Card Cashback    8months           500CL

First Premier Gold             3months           300CL

Walmart Store Card           2 months         1000CL

Capital One Plat          (Just Approved)      500CL

Fingerhut                            2months          300CL

JCP                                    4 months          200CL

Discover has been unwilling to do a cli. I use that card on business trips and spend over 2k or so a month and always PIF, I am unsure on their decision to not raise the limit. I carry no balances on any other cards except for using them once a month to keep them active. Are these cards suffient to build a solid history with?

[bakalao2k]

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@revvystoke wrote:

I am 18, a regional tribal financial assistance case manager and started reading these forums to find tips and resources for my clients to help explain and manage their credit, this site has been an excellent help for me. I have started to try and build my own credit, but I have not been able to get a prime credit card. I have a steady income of 40k after taxes and my scores are Eq. 621 Tu 656. I have had 10 Inquires in the last 6 months.. My accounts are;

Discover Card Cashback    8months           500CL

First Premier Gold             3months           300CL

Walmart Store Card           2 months         1000CL

Capital One Plat          (Just Approved)      500CL

Fingerhut                            2months          300CL

JCP                                    4 months          200CL

Discover has been unwilling to do a cli. I use that card on business trips and spend over 2k or so a month and always PIF, I am unsure on their decision to not raise the limit. I carry no balances on any other cards except for using them once a month to keep them active. Are these cards suffient to build a solid history with?

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Those cards are sufficient for building a solid history. You shouldn't apply for any more cards until the majority of your inquiries have fallen off.  I think Discover's unwillingness to raise your limit may be due to the 10 inquiries within 6 months.  Slow your roll and let your accounts age.  :-)

Message Edited by bakalao2k on 02-11-2010 09:39 PM

[fused]

I agree with bakalao2k.

[Anonymous]

Yep... I'd let your accounts age and allow those inquires to drop off your report over the next year.  Don't forget to use each of your cards once every 3 months or so to not get tagged with inactivity (especially with the new laws coming into effect).

[AndySoCal]

Another possible reason for the  getting the CLI is the short period time the account has been open. Now that you have the accounts you now need to continue to extablish a good payment history.  You also need to let you AAOA grow this will take time. I had similiar problem when I asked for a CLI and I have 27 year credit history and was told no.  The rep told me it was not my credit history that was the problem it how long the account had been open at that time it was less than 6 months. Most would consider your Discover and Capital One major credit cards.