- Posts: 1
- Joined: Sat Sep 08, 2012 7:28 pm
- Location: Columbus, OH
I've been reading these forums the past couple of days and have learned a lot about maintaining good credit, but I'm unsure of my next move.
I'm 24 years old and make 34k/year. I've had my Chase Freedom card (was Slate until a couple of months ago) since August 2006 and an Amex Blue Cash Preferred (recently upgraded from the regular Blue Cash) since March 2011. Until yesterday, the credit limit on each was 4,200. I was reading about credit utilization on these forums and wasn't paying my cards at the right time I'm guessing. I've always paid in full, but oftentimes I would let the statement close at over 1k on the Amex, then pay it.
This is starting to get long-winded, so I'll get to it. I called Amex and asked for a CLI and was given a new limit of 9,600. I called Chase and they gave me a new limit of 7,500. My available credit seems pretty high compared to my salary, but as I understand it, the higher my limit, the lower my utilization is likely to be (I have and will continue to pay in full).
I see that the US Bank+ card offers some good benefits with no annual fee. Is a new card something I should look into for a third credit card? I like the idea of being able to track my Experian credit score and rotating categories for cash back.
If it helps, I was checking my annual credit reports and paid for my Equifax score, which was 731. I currently have no student debt, but an auto loan for 17.5k with 14k remaining (all payments on time).
Thanks for any help!