My score went from 571 to 596 after first month of credit card report posted to my credit report... Why did it increase so much in 1 month??? Should I apply for another so points can move up again???
If this was your first credit card, wait 2-3 months before applying for another one. Also, your score probably went up due to various reasons - positive payment history, improved credit mix, improved length of credit history, and better credit utilization. And it'll only improve as long as you keep using your cards sparingly and paying those credit card bills on time every month.
I have a couple negatives that should drop off in the next month, u think if I get my score to 640 or so I should apply for a high limit credit card? What kind of limit could I get with a 640 credit score n also should I ask for a credit increase on my present credit card or wait?
Try to improve your FICO score to 650 or higher, and then you should be able to get approved for a Fair Credit Credit Card. It's tough to guess exactly what kind of credit limit you'll be offered by the bank you choose, but it should be at least a few thousand, which in turn will further improve your credit utilization ratio. Just keep using the credit you do have sparingly, and always pay your bill in full and on time each month. Oh, and if you haven't asked for a credit limit from your current credit issuer in the past 6 months, then go right ahead and request one. No one is handing out credit limit increases these days like they used to, but it's worth taking a few minutes to at least ask. You might be surprised at their response.
You can also use the method of piggybacking to improve your credit score. You are "piggybacking" yourself as an authorize user to a existing credit account. The credit card company reports the credit card history to your credit profile, making it look like to has been there the entire time. This method is a faster way to improve your credit score. Check out BoostMyScore.NET to learn more about piggybacking.
Your tellin me that I can pay them to ADD credit card history to my report Haha, wow does this method work or is it a scam??? I would so love to do it if its perfectly safe
It's not perfectly safe, although piggybacking does still work. If you want to do it for free, convince a relative or close friend to add you as an authorized used onto one of their oldest cards with low utilization. Then, voila, it will show up on your credit reports and improve your scores.
If only I knew someone like that. Everyone I talk to says they avoid credit cards. But I know credit runs the world so ill look into this boostmyscore, besides a positive history added to my reports, what's the negatives of this method???
The negative is you may pay for something and never receive it. I'm not singling out this business in any way, but we've had other members on the board that have had issues purchasing AU tradelines. Be careful and know what you may be getting yourself into before pulling the trigger.
