24 Looking to build Credit... What are some good tips on your first Credit Card

[datznasty]

I'll take a referral if someone would like. I pay my bills on time, no idea why my credit is so low (604). I just was about to buy a car so I know there's a lot of hard inquiries right now, maybe wait for that to fall off plus when it updates it will show 0 balance on my 1 cc I have which only has an $800 limit (use it for points/cashback then pay it off before interest hits), then I have a mortgage and car loan both of which have all on time payments. My Transunion shows 3 under derogatory accounts but I can't see them and I have nothing in collections.

 

[capital sb]

I'll take a referral if someone would like. I pay my bills on time, no idea why my credit is so low (604). I just was about to buy a car so I know there's a lot of hard inquiries right now, maybe wait for that to fall off plus when it updates it will show 0 balance on my 1 cc I have which only has an $800 limit (use it for points/cashback then pay it off before interest hits), then I have a mortgage and car loan both of which have all on time payments. My Transunion shows 3 under derogatory accounts but I can't see them and I have nothing in collections.

Pull up credit karma, all of the accounts should show there. You score is low due to the derogatory accounts,

pulling it down between 50-100 points most likely.

 

[bluntobject50]

I'll take a referral if someone would like. I pay my bills on time, no idea why my credit is so low (604). I just was about to buy a car so I know there's a lot of hard inquiries right now, maybe wait for that to fall off plus when it updates it will show 0 balance on my 1 cc I have which only has an $800 limit (use it for points/cashback then pay it off before interest hits), then I have a mortgage and car loan both of which have all on time payments. My Transunion shows 3 under derogatory accounts but I can't see them and I have nothing in collections.

PM me your email and I'll send you one.

 

[big meech]

View media item 1991479
Since we out here flexing..

 

[polosanddunks]

Does getting a mortgage hurt or help your score and credit history btw?

For the credit history i know its gotta help it a lot but can anyone chime in

 

[bowflex]

Jesus

My man. I hit the 800 club last month. I didn't check it until a few days ago tho so it was a nice surprise. I was hovering on it for years but my credit history wasn't old enough to make the jump.

 

[dam itz lou]

Does getting a mortgage hurt or help your score and credit history btw?

For the credit history i know its gotta help it a lot but can anyone chime in

Yeah, it's good when you have different types of credit.

 

[polosanddunks]

Yeah, it's good when you have different types of credit.

Perfect and you should always get the car loan after you close on a mortgage not before right?

 

[dam itz lou]

Right. The less debt you show, the better.

 

[datznasty]

thanks NT. I got the referral now

 

[polosanddunks]

My man. I hit the 800 club last month. I didn't check it until a few days ago tho so it was a nice surprise. I was hovering on it for years but my credit history wasn't old enough to make the jump.

Man once I hit it im dancing on tables

 

[freshpairs]

Everyone posting scores, who has the highest credit limit

 

[al audi]

@JayPesoz you are blessed.

screw it I'm gonna check my score........

EDIT: i used CreditCheckTotal these scores are based on a FICO Score 8

EXPERIAN: 521 :x
Transunion: 651
Equifax: 637




i don't think there is anything i can do...............i have no debt. its literally $0.00 an i have a lot of money, any advice?? I'm in the market to buy a car.

FICO is but one part of the puzzle. Bureau content is more important. There is such a thing as a good 521 and a bad 521.

Go to a local credit union, and see what approval you can get. With two bureaus in the 6's they'll be able to help. Cap One might be a good choice as well.

DO NOT go into a dealership without knowing your buying power.

some advice i just got from another forum, ill call my credit union tomorrow

also i was told by someone else if i can put down 50% MOST places will approve me

 

[jon4rd]

@JayPesoz you are blessed.

screw it I'm gonna check my score........

EDIT: i used CreditCheckTotal these scores are based on a FICO Score 8

EXPERIAN: 521 :x
Transunion: 651
Equifax: 637




i don't think there is anything i can do...............i have no debt. its literally $0.00 an i have a lot of money, any advice?? I'm in the market to buy a car.
some advice i just got from another forum, ill call my credit union tomorrow

also i was told by someone else if i can put down 50% MOST places will approve me

Are all those collections still showing on your report?

 

[pitman13]

@JayPesoz you are blessed.

screw it I'm gonna check my score........

EDIT: i used CreditCheckTotal these scores are based on a FICO Score 8

EXPERIAN: 521 :x
Transunion: 651
Equifax: 637




i don't think there is anything i can do...............i have no debt. its literally $0.00 an i have a lot of money, any advice?? I'm in the market to buy a car.
some advice i just got from another forum, ill call my credit union tomorrow

also i was told by someone else if i can put down 50% MOST places will approve me

http://www.myfico.com/crediteducation/improveyourscore.aspx

^^ This should help you.

If I were you I would start to reestablish your credit history.

Buy something that cost around $300 & pay double the monthly for 6 months or a year, depending on the monthly bill.

 

[luckyluchiano]

Does getting a mortgage hurt or help your score and credit history btw?

For the credit history i know its gotta help it a lot but can anyone chime in

Hurts you initially but after about 6 months of oayments you will be good money and after 1-2 yrs of payments you will see it boost.

 

[capital sb]

EDIT: i used CreditCheckTotal these scores are based on a FICO Score 8

EXPERIAN: 521

Transunion: 651
Equifax: 637




i don't think there is anything i can do...............i have no debt. its literally $0.00 an i have a lot of money, any advice?? I'm in the market to buy a car.
some advice i just got from another forum, ill call my credit union tomorrow

also i was told by someone else if i can put down 50% MOST places will approve me

Al, wait til those collections drop off. In about 30-45 days your scores will be high 600s or low 7s, maybe 675-710 range.

Just be patient wait to buy the car.

@FreshPairs  my total credit limit is 43K (4 cards), was around 49K but closed 2 cards. Highest card is 17.3K .

I'm not the highest in here I think @WrightOne86  has a 20K limit on his Discover IT.

 

[Tony $now]

Al, wait til those collections drop off. In about 30-45 days your scores will be high 600s or low 7s, maybe 675-710 range.
Just be patient wait to buy the car.

@FreshPairs
 my total credit limit is 43K (4 cards), was around 49K but closed 2 cards. Highest card is 17.3K .
I'm not the highest in here I think @WrightOne86
 has a 20K limit on his Discover IT.

I have two collections on my report. Like a total of 300.00 after the 30-45 day window, will I see a noticeable jump in my score?

 

[capital sb]

I have two collections on my report. Like a total of 300.00 after the 30-45 day window, will I see a noticeable jump in my score?

60-100 point jump.

 

[freshpairs]

Al, wait til those collections drop off. In about 30-45 days your scores will be high 600s or low 7s, maybe 675-710 range.
Just be patient wait to buy the car.

@FreshPairs
 my total credit limit is 43K (4 cards), was around 49K but closed 2 cards. Highest card is 17.3K .
I'm not the highest in here I think @WrightOne86
 has a 20K limit on his Discover IT.

Damn yall eating, thats a car right there ill be there one day

 

[bowflex]

After putting it off for months, I just requested a $5,000 limit increase from discover and got it instantly. You can ask for increases every 3 months correct? Does anyone know if Navy Federal does hard or soft pulls for credit limit increase request?

 

[Tony $now]

60-100 point jump.

Thanks for the response. Just curious, which scores are more accurate? Bank of America Privacy assist or Credit Karma? I had the Privacy assist for years, but I have credit karma now and don't need both

 

[capital sb]

@lilyo06 Credit Karma is FAKO, not real scores. BoA I believe offers FICO scoring through their CCs, not sure don't have BoA.

 

[Tony $now]

@lilyo06
Credit Karma is FAKO, not real scores. BoA I believe offers FICO scoring through their CCs, not sure don't have BoA.

The scores from Bank of America are through their Privacy Assist program credit/identity theft program. I don't have a BOA credit card.

 

[capital sb]

The scores from Bank of America are through their Privacy Assist program credit/identity theft program. I don't have a BOA credit card.

Privacy Assist is FAKO also, just checked myFICO forums. If you are paying for it I suggest you cancel it.

Credit Karma is fine for a free FAKO.