...how I'm doing. I am a 20 year old full time college student, with a full time job. I tried to start my credit when I was 18 but no one ever gave me credit so I waited the 2 years till all my inquires droped (18 inquires at the time, I know I didnt know what I was doing then) and now am starting all over again. This is what I have so far, let me know if this is good or if I should get something else. Equifax FLEET CC (Fusion) 8.99APR $500CL FLEET NATIONAL BANK (Secured Loan) $500 12 months term WFNNB STRUCTURE 21.9APR $150CL Inquiries (Prev 6 Months): 1 (EMPL) Experian FLEET CC (Fusion) 8.99APR $500CL FLEET NATIONAL BANK (Secured Loan) $500 12 months term WFNNB STRUCTURE 21.9APR $150CL Inquiries (Prev 6 Months): 7 (3 should drop soon) TU FLEET CC (Fusion) 8.99APR $500CL Inquiries (Prev 6 Months): 0 I also just got approved for MBNA WorldPoints with a $500CL at 12.99APR 1.7 on BT. Also I didnt know the loan was gonna show up as secured on my report would this be bad? All these TL have been opened on 6/03, I am planning on only using 30% of my CL on each card and pay my balance in full every month. Please let me know what you guys think. The APR on my Fusion card is an intro rate till 12/03 then it goes up to 15.99%.
Apply for Amex for students and Citibank to get higher limits. Don´t apply for more retail cards or with subprime banks.
The thing with AMEX Blue is that I go to a 2 year college and I don't think they will aprove me. Do you think they will check if I tell them I go to one of the 4 year colleges here? Also which of my banks are considered subprime? And my WFNNB just got inc to $500 so I think that will help. Citi denied me because I had no balance on any of my accounts. I guess they don't like people that pay their invoice in full. This is my report so far... Equifax FLEET CC (Fusion) 8.99APR $500CL FLEET NATIONAL BANK (Secured Loan) $500 12 months term MBNA AMERICA (WorldPoints) 11.99APR $500 WFNNB STRUCTURE 21.9APR $150CL Inquiries (Prev 6 Months): 1 (EMPL) Experian FLEET CC (Fusion) 8.99APR $500CL FLEET NATIONAL BANK (Secured Loan) $500 12 months term MBNA AMERICA (WorldPoints) 11.99APR $500 WFNNB STRUCTURE 21.9APR $500 Inquiries (Prev 6 Months): 6 (2 should drop soon) TU FLEET CC (Fusion) 8.99APR $500CL Inquiries (Prev 6 Months): 1 Still all have $0 balance.
You might consider an unsecured loan to pay for one semester of college. That will at least improve your "mix" (FWIW). I don't know how expensive your school is but if you have the $$$ to pay in advance you could always try for a loan with your bank/c.u. and keep the cash you would have paid with in a savings account and have the loan automatically draw from that account every month. I'm not sure if that's any better than a "secured" loan though.
