Best way for 21 year old to improve/build credit?

For just about anything you want to get off your chest about credit cards.
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Joined: Mon Jun 18, 2012 9:05 am
Location: South FL

Best way for 21 year old to improve/build credit?

Postby SRT888 » Mon Jun 18, 2012 10:10 am

I am 21 years old with 2 credit cards Approx 680 Score (checked 2-3 mo ago)

Wells fargo $900 limit approx 27% on card(had for 1y8mo)

And an Express CC(store card not visa) $1,260 limit with 35% on card
(had for 1y6mo)

i make around 75k/Y gross. financially i believe i have plenty of room for more credit but i don't know which Cards i should/can get next? i want to build my credit so i can get a car loan with a good APR and eventually a mortgage as well.

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Joined: Tue Jan 10, 2012 7:11 pm
Location: New York, NY

Postby randeman » Mon Jun 18, 2012 12:39 pm

Pay your accounts on time, first and foremost. I will skip food for a day before I will intentionally skip a payment. Keep your credit usage ratio low. Diversify your credit...see if you can find a bank that will issue a secured personal loan ($500-$1000) to diversify your credit. Don't apply for too much credit at once. Stay AWAY from finance companies.
Cards and Credit lines Acquired:

Escape by Discover (7.75K), Barclay Holland America Visa (7K), Macy's store card (7K), Bloomingdale's store card (2.6K), Citi Custom Credit Line (3.5K), PayPal Smart Connect credit line (2.7K), Chase Freedom Visa (5K), Chase United MileagePlus Visa (5K), Chase Sapphire Preferred Visa (6K), Amazon store card (2.2K), Lord & Taylor store card (550), Nordstrom store card (1500), Gold Delta SkyMiles from American Express (3K), Discover It (6.5K), PayPal Credit Line (1K).

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