Hey Everyone, I'm a 25yr old man. New to this whole credit thing. Lets start off by saying I grew up in a poor household is South Philadelphia and had a lot of family issues and no type of financial guidance.
I thought I had ruined my credit by not paying back a $1,000 in purchases made with "Bill Me Later". I was really mixed up in life and my head wasn't straight. I dealt with some legal troubles and incarceration and some other issues. I finally got my life together and my head straight on shoulders and did some "growing up" and found myself.
I did a lot of thinking, realizing, praying, etc... and everything is looking up for me now with all my troubles in my past for the most part. I then, one day said to myself, "It's time to fix my credit and send these MF's a $1,000 plus all the fees and blah blah blah".
So i called Bill Me Later to get the number for the collection agency. I then called the collection agency and when they ran my social it came up squeaky clean. Must have been that "praying" I did. I then decided to apply for a secured Capital One card. I sent them $50 and they gave me a $200 limit. The secured Platinum Mastercard i applied for just so happened to come with a free subscription to Credit Inform services.
When i got my credit report it stayed my Experian score was 737.
WOWWWWW, was i ecstatic. I then was approved for an Amex Gold Premier Card, an Amex Blue Cash Everyday card with a $2,000 limit, and a Capital One Platinum Prestige card with a $10,000 limit.
I have only used the $200 secured limit so far and I will use all my cards wisley because there is no shot I will take advantage of my blessing and mess my credit up. I have did a lot of reading and learned a lot from this forum so i decided to join, Hello Everyone.
Anyone have any tips on the Amex CLI 3x technique, so I'm ready when the time comes. Also an idea that occurred to me is would it effect my Credit in a positive manner if i was to consistently take cash advances from my Amex Gold card and simply hold the money to the side "In my bank account" for a period of time then send it right back to them?
Also, any advice of Capital One CLI's and how to go about them... Any advice you guys can offer to me would also be truely appreciated. I want to continue to build my credit up in to the 800+ range so when it's time to a mortgage or simply a new car loan I'll be in excellent standing. What is the best score for me to go off of in regards to loans versus credit cards.
Is the FICO the big thing i should monitor or what reporting agency tends to be the prominent one if any?
THANKS in advance everyone! Have a good one!