@Anonymous wrote:
So in essence... I could open the SSL today and pay it down 2 weeks later and when it reports the following month I can measure how big the jump was? Am I following you correctly? Thanks
Yes, you can get the SSL first. However, you will have to keep your credit report constant without any new data that might impact scoring factors; e.g. CC individual and aggregate utilization, inquiries, new accounts (besides the SSL), etc.
You'll have to determine your report dates so you can determine when to pull the 3B.
You have no other installment loan, correct?
6 month CLI wait time is good.
You are eligible for Navy CC #2 after 91 days and 3 statements from CC # 1 approval. I would recommend dressing up your credit report before applying. Longer history with Navy hopefully will reward you with a higher credit line.
6 month CLI wait time is good.
You are eligible for Navy CC #2 after 91 days and 3 statements from CC # 1 approval. I would recommend dressing up your credit report before applying. Longer history with Navy hopefully will reward you with a higher credit line.
True. A little bit backwards.
No set in stone procedure but waiting 6 months is good for CLI since they started you at $500.
That's how Navy does it. They give you "training wheels" so to speak. The 2nd card is usually the bigger limit card.
Getting the SSL should help you in raising your internal score with Navy.
So wait for the SSL to boost your FICO score and get your utilization 8.9% or below before getting card # 2.
No set in stone procedure but waiting 6 months is good for CLI since they started you at $500.
That's how Navy does it. They give you "training wheels" so to speak. The 2nd card is usually the bigger limit card.
Getting the SSL should help you in raising your internal score with Navy.
So wait for the SSL to boost your FICO score and get your utilization 8.9% or below before getting card # 2.
@Anonymous wrote:
Sorry... No. I have no other installment loans. I have amex, disco and chase cards. Then 3 or 4 store cards. My other problem is my credit history is only 2 yrs and 4 mos. My oldest account says 7 years. Ugh... I never cared or thought too much about credit but reading on myfico for the last 3 or 4 mos has me hooked. I am addicted. Watching UFC and the Fury fight... But not really watching. I don't know who has fought and won because I am here still reading. I think it's been maybe 5 or 6 hours today alone. Geez.
Okay. I just wanted to make sure. If you had a car, student loan, mortgage, it would be redundant to get the SSL.
Glad you found myFICO. There is a wealth of information here to read. I'm learning something new every day. Yes, it can be time consuming, lol. 5 or 6 hours will amass to days and weeks and months, and....