Hey All 
I started my credit journey around a year ago and I've picked up quite a few cards since then. I'll list them all below and any other relevant information to hopefully provide some insight on my current situation as I'm feeling a bit.. lost. I want to start growing my total credit limit but I'm not sure the best way to go about it. I'm in college so my income isn't very consistent and my overall utilization varies month to month depending on expenses (Tuition, books, ETC) so my score isn't the greatest because since the beginning of this semester my Utilization has been a bit high (23%) with heavy focus on a few cards.
My FICO score for the most recent report is.
(Provided by MyFICO on 11/10/22)
Equifax: 656
Transunion: 671
Experian: 664
Template:
Name / Limit / Annual Fee | Date Acquired*
- Discover CashBack / $1,250 / $0 | 9/12/21
- AMEX Blue Cash Everyday / $2000 / $0 | 11/20/21
- Cap 1 Platinum / $2000 / $0 | 12/4/21
- Citi Simplicity / $2400 / $0 | 1/6/22
- Petal 2 / $1200 / $0 | 1/9/22
- Sofi Card / $1000 / $0 | 1/10/22
- Mission Lane / $850 / $19 | 3/20/22
- Marcus GM Rewards / $3000 / $0 | 3/21/22
- NFCU Cash Rewards Visa / $1600 / $0 | 3/22/22
- Credit One Platinum / $1000 / $39 | 10/31/22
- Cap 1 Quicksilver / $500 / $39 | 11/5/22
@xonut wrote:I want to start growing my total credit limit but I'm not sure the best way to go about it.
Time not applying for new cards and increasing your income
Take the time you need to spend not getting more credit cards and use it to increase your income.
Stop applying for cards for at least a year, if not two, earn some more money and let your history build up with no missed payments. Close any cards with AF's before the AF posts again next year.
0/6, 3/12, 10/24
Cap1 and NFCU are SP for CLI's so I'd start there.
Try to get SP CLI's to increase your Total CL to help out with UTI.
This should increase your scores without taken hits for AAoA or Inquiries.
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@xonut wrote:
- Cap 1 Platinum / $2000 / $0 | 12/4/21
In your Cap1 account type in /productupgrade to the end of your link on desktop for your Platinum account and see if they'll turn your platinum into a Quicksilver with no AF.
What is your end game? Do you have a specific card or cards that you are going after? Are you aiming to qualify for a loan for something down the road? In your particular situation, all I would focus on right now is "gardening" while paying off all your credit cards and reaching a point where you no longer carry balances from month-to-month.
Last update: 5/10/2024
Welcome @xonut
Easy answer. No more credit until you graduate. You have enough. Pay down your cards to 6%. Let your scores rebound from this years haul. Get your degree!
Then more doors will open once your done and in the workforce. Good Luck!
I agree with the others. Work on maturing your cards and credit lines. Of course, I am one of those less is more people.
@xonut wrote:Hey All
I started my credit journey around a year ago and I've picked up quite a few cards since then. I'll list them all below and any other relevant information to hopefully provide some insight on my current situation as I'm feeling a bit.. lost. I want to start growing my total credit limit but I'm not sure the best way to go about it. I'm in college so my income isn't very consistent and my overall utilization varies month to month depending on expenses (Tuition, books, ETC) so my score isn't the greatest because since the beginning of this semester my Utilization has been a bit high (23%) with heavy focus on a few cards.
My FICO score for the most recent report is.
(Provided by MyFICO on 11/10/22)
Equifax: 656
Transunion: 671Experian: 664
Template:
Name / Limit / Annual Fee | Date Acquired*
- Discover CashBack / $1,250 / $0 | 9/12/21
- AMEX Blue Cash Everyday / $2000 / $0 | 11/20/21
- Cap 1 Platinum / $2000 / $0 | 12/4/21
- Citi Simplicity / $2400 / $0 | 1/6/22
- Petal 2 / $1200 / $0 | 1/9/22
- Sofi Card / $1000 / $0 | 1/10/22
- Mission Lane / $850 / $19 | 3/20/22
- Marcus GM Rewards / $3000 / $0 | 3/21/22
- NFCU Cash Rewards Visa / $1600 / $0 | 3/22/22
- Credit One Platinum / $1000 / $39 | 10/31/22
- Cap 1 Quicksilver / $500 / $39 | 11/5/22
The best way to do it right now is to do nothing. You've had more than enough "growth" for now. Too much "growth" looks like desperation to the FICO algorithms.
Just stop applying for things, pay things down, let as many as possible report zero balances, and occasionally try for a soft pull CLI with Discover and Amex BCE. And watch your scores "grow".
@xonut wrote:Hey All
I started my credit journey around a year ago and I've picked up quite a few cards since then. I'll list them all below and any other relevant information to hopefully provide some insight on my current situation as I'm feeling a bit.. lost. I want to start growing my total credit limit but I'm not sure the best way to go about it. I'm in college so my income isn't very consistent and my overall utilization varies month to month depending on expenses (Tuition, books, ETC) so my score isn't the greatest because since the beginning of this semester my Utilization has been a bit high (23%) with heavy focus on a few cards.
My FICO score for the most recent report is.
(Provided by MyFICO on 11/10/22)
Equifax: 656
Transunion: 671Experian: 664
Template:
Name / Limit / Annual Fee | Date Acquired*
- Discover CashBack / $1,250 / $0 | 9/12/21
- AMEX Blue Cash Everyday / $2000 / $0 | 11/20/21
- Cap 1 Platinum / $2000 / $0 | 12/4/21
- Citi Simplicity / $2400 / $0 | 1/6/22
- Petal 2 / $1200 / $0 | 1/9/22
- Sofi Card / $1000 / $0 | 1/10/22
- Mission Lane / $850 / $19 | 3/20/22
- Marcus GM Rewards / $3000 / $0 | 3/21/22
- NFCU Cash Rewards Visa / $1600 / $0 | 3/22/22
- Credit One Platinum / $1000 / $39 | 10/31/22
- Cap 1 Quicksilver / $500 / $39 | 11/5/22
I agree with what others have said. Stop applying and focus on the cards that offer soft inquiry credit line increases.
I also want to point out that, with the exception of NFCU and GS, you seem to have gone into reverse this year. You opened Discover, Amex and Citibank in 2021 which are good cards...then this year you picked up some cards that I would not associate with someone who already has good cards: Mission Lane, another Capital One and...Credit One....These are not high quality cards and will most likely not grow or be beneficial long run. As others have said, stop applying, focus on the "prime" cards with soft inquiry increases and eventually close those I have highlighted in red when/if they no longer work for you.