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1779615 No.1779615 [Reply] [Original]

>23
>no education college drop out
>only make $30K a year
>have car loan for $4K ($2,300 left)
>have 3 secured credit cards to basically rack up payment history
>one is for gas money I pay off each paycheck
>one is for car loan and insurance I pay a little on each paycheck (balance is almost always close to $0 each statement)
>one is for cell phone, internet and subscriptions like Amazon Prime. $500 limit usually ~$200 balance on each statement
>have paid cell phone and internet bill every month on time for 3 years straight
>have student loans that I pay twice as much as I'm supposed to each month
>credit score is still 506

How does credit work and what am I doing wrong?

>> No.1779620

just payoff all your debt as fast as possible, except your mortgage

don't borrow money, just collect rewards/interest

>> No.1780151

>>1779615
I was you in a previous life.

Try get better cards with 0% Apr introductory.

Keep card utilize under 30%.

So $100 card never borrow over $30.

Take 1 or 2 cards. Use. 1st bill come pay minimum. Next bill pay off.

Get a few more cards no secured and every few months ask them all if they will lower your interest and up your limit.

780 FICO checking in.

Sign up for credit karma and do what they suggest if u want handholding.

Obviosly keep up on your payments as it seems u are. Then its just time. After 0%apr is over pay the anual 5 and stop using that card but don't cancel.

>> No.1780741

>>1779615
If you really want to make a change man, go through Financial Peace University it's like $100 and local churches host them all the time. It might be cheesy, you may not like it, but it works. Seriously man. If you want to make a change, do it. If you just want to feel sorry for yourself don't bother.

>> No.1780758

>>1779615
are you sure those credit cards are reporting to credit bureaus? after i had my first credit card for a year my score was good enough to get almost any credit card, other than the invitation only/high roller cards.

>> No.1780820

>>1780758


same

had $300 secured card for 6 months with no credit history

came in one day and asked if I can get real card and they said yes.


Tip: I used all my limit every month, BUTT paid it all off at the end of the month.