- Posts: 2
- Joined: Mon Apr 02, 2012 9:41 am
- Location: United States
My goal since I turned 18 in April of this year was to get started on the right track in regards to credit. When I hit junior year of college it is likely I'll need to take out student loans without any co-signers, so I basically had to hit the credit building process as hard as possible.
It's now about the end of the year, and here is my progress:
US Bank Student Visa ($300) - Opened 05/2012
Capital One Journey Student Rewards Visa ($300) - Opened 08/2012
Discover Student More Card ($500) - Opened 12/2012
American Express Green Card (NPSL) - Opened 12/2012
No late payments, no balances carried over (no interest paid), and no over the limits.
3/4 cards offer some type of reward, and 3/4 of cards have no yearly fees.
In addition when I pulled my actual credit report a few months ago, I found that the payment plan I subscribed to for 4 monthly payments of tuition for each semester of college actually reported to my credit as an installment loan. So a year and a half from now I will essentially have 4 installment loans on my credit.
I received my Discover Student More Card in the mail today, along with a note about my credit report. Trans-Union FICO 726 score pulled this month. I'm feeling pretty good. Now I need to hold off on any more bank/credit things as I have far too many hard pulls on my credit.