hi, i'm not sure what your score is now, but you can find out by going to myficoscore.com and ordering credit reports and scores from all 3 major reporting bureaus. (in most states you are entitled to one free report from each, annually, but for the scores -- they each have a score on you -- you will have to pay about 6-8 bucks each for.)
i just came from a class dealing with improving and keeping your credit score in good standing, and the main things to remember are: always pay your bills -- all bills, not just credit cards -- on time! try to pay at least DOUBLE the minimum balance due! and no matter what, keep your balance at below half the credit limit.
(if your limit is $750, don't ever let the card get to be over $374 -- $375 is a LOT worse than $374, believe it or not.)
as the others have said, don't let them keep raising your limit. getting into credit card debt is the quickest way to screw up your future ability to get a car, a house, etc... don't screw up your future for the love of a few possessions, take it from me it is not worth it. i found this out the hard way!
also, throw away or shred any offers that come in the mail from credit card companies of any kind that say you have been "pre-qualified" or "pre-approved". these guys are the worst of the worst, and the hidden fees will kill you. if you want a card, choose one with the lowest APR you can get, and watch out for those "introductory rates" -- those can go sky high real quick.
keep the one you've got, don't okay any more limit raises unless you are certain you can keep it at BELOW (not at but below) 50% the limit at all times, and yes, american express must be paid IN FULL each month. unless you are raking in big bucks, and have a low debt to income ratio, avoid amex.
work out a budget and find a way to PAY YOURSELF first each month -- in as high-yielding a savings account as you can find. this is in addition to any 401k plan you might have. save enough to get you by for at least 3 months in case of injury, illness, emergency, etc...
and when you've got that saved, keep on going until you one day have enough savings to cover a down-payment on what will be the biggest purchase of your life -- a home to call your own! the least you will want to put down to keep your house payments affordable will be about 20% of the cost of the house. (20% of $150,000 is $30,000.) don't freak out, though, there are programs that can help you get down-payment dough, as well as types of mortgages that can resolve that issue, but you definitely want to have as much cash to put down as you can.
good luck!
2006-07-23 19:09:13
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answer #1
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answered by songman 1
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For Finance and credit solutions I visit this website where you can find all the solutions. http://INSURANCEANDFINANCETIPS.INFO/index.html?src=dCYXNn67LMd
RE :Approximately how much is the credit score for someone who just got a credit card for about 3 months?
>1st credit card with 500 credit limit w/c recently increased to 750
>how fast can a credit score go up?
>if i apply for an amex gold, would i be approved?
Update: > i always pay my bills in full and on time
Follow 6 answers
2016-10-05 20:12:10
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answer #2
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answered by Anonymous
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Stop!!! Don't let them increase your spending limit. That's how banks get you into debt by making you think that they are rewarding you with a higher limit. Limit the amount of credit cards you have this is another trap. You will have a good credit score by paying your bills or making payments on time.
2006-07-23 17:35:15
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answer #3
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answered by James 4
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every 3 months credit card report you to credit bureau, they increased because you have paid on time, its usually high on the first years because you want to pay on time, but remember is not only about the number is also about for how long have you had the credit history, and revolving balance. (how much you own and how much yer credit limit is) I recommend you not to apply for the amex card, wait at lest 1 year, to many inquires on your credit in a short period of time is really bad. wait a litter they are not going bankrupts any time soon.
2006-07-23 17:12:34
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answer #4
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answered by Anonymous
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stop it you going to end up in debt. then you can figure out your credit score in bankrupcy. amex demands payment in full at the end of the month. google credit score there are scores of companies that give it to you for free.
2006-07-23 17:07:23
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answer #5
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answered by Anonymous
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For personal finance
2015-03-04 06:43:15
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answer #6
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answered by Orel 1
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