Building Fast Credit

[Anonymous No.19121692]

100k/year, shit credit. 600 FICO. How do I get this to 700 in 12 months?

-have 2 secured credit cards, $1k total
-have 1 secured amazon credit card, $500 total

that's about the level of my credit. wondering if i should just get a $4k secured card and use it once a month. i just hate to eat my liquidity over dumb shit like this

>student loan wrecked my credit

[Anonymous No.19121786]

>>19121692
do you know about credit utilization? I believe you want to hit around 35% credit usage every month. set the cards up for auto pay from a checking account with ample funds.
if you use more than that it hurts your credit even with perfect payments.
they'll bump up your credit limit as you prove yourself reliable

[Anonymous No.19121806]

pay off your balances bizlet

[Anonymous No.19121814]

>>19121786
okay nevermind, I'm retarded.. read this
https://www.creditcards.com/credit-card-news/credit-utilization-30-percent-rule-myth-1586.php

there are tons of websites giving advice on this stuff but apparently there is disagreement

[Anonymous No.19121913]

>>19121786
>>19121814
i can utilize a % of my revolving credit limit, sure, but i think i still need more credit to boost the score. i need more credit but no one will give it to me without it being secured, i think. which is what makes me think i need to go to some big bank and get a huge secured card

[Anonymous No.19121955]

>>19121913
lie about your income

[Anonymous No.19122178]

>>19121692
>>student loan wrecked my credit
whats the status of the loan?

[Anonymous No.19122272]

>>19121692
Depends on how much you spend, your credit history, and your debt load. Use the cards as much as possible, pay them off twice a month. Pay aggressively towards the student loans, to get them off your back, reduce your debt/income ratio, and pay less interest. Don't be late on ANYTHING, and clean up your credit history if it has dings on it.
A secured card won't do shit, it's not a credit line. The key to the credit system is USING credit. A secured card isn't a loan, it's you spending your money and them taking fees on it, it's throwing money away. Secured cards are for losers who fucked up their credit.
Use your current cards. DO NOT open new ones, unless it's AMEX or a good card. Use them aggressively, pay them off twice a month, and in six months ask for bigger credit lines. Rinse, repeat.
100 points in a year isn't impossible, but unlikely unless you really work your credit lines, or pay off a car loan or mortgage.

[Anonymous No.19122344]

Utilize less than 10% of your credit at any given time, don't go over 10% for any card, if you do pay it off to 10% or off in full.

Always pay in full before the month ends, no exceptions. Do not pay more than you earn.

Build your credit limit through paying over time, don't ever miss a payment, period.

Utilize different types of credit.

Based off of your credit score, you should apply for a new credit card every 3 months, if you plan on opening lines, do it together sooner rather than doing spread out over looong periods of times. It hurts your average age of credit.

Chase Sapphire Preferred / Reserve has big credit limits, as does Discover.

Always watch the fucking fine print when applying, don't apply for cards that you won't utilize the benefits for. Don't go for shit that charges you service fees. Annual fee cards should BENEFIT you, if they do not then skip them.

Nearly 800 here, I hit 700 in less than a year. Be super fucking strict and you'll make it easy.

I have a CSP, CFU, Amex Plat, and some other cards. Jews like when they see you handling 10+ credit cards paying them left and right with no dues over the month.

[Anonymous No.19122808]

>>19121692
Send me 1 ETH and I will explain to you how to build business credit