"Am I Building Credit The Best Way?"

Rewards 660 Visa® Unsecured Credit Card Review
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Written by: rbuctodd on 2008-03-10

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rbuctodd's review: Ok, here is the deal. I am trying to build credit like everyone else. I am in my early 30's never had credit. Had a judgment ($2500) that is about 8 years old I tried to pay but I am unable to locate them and the courts were not of any help. Also have a large medical that has never showed up on my reports.

I just started to try to build credit. I just got the Rewards 660, paid all the fee's at once and have a 0 balance. I have a First Premier card on the way (I will also pay all their fees at once. I also applied for a Applied bank card and it shows that it is "pending" still (if approved I will pay all fees at once).

I will always keep my balances under 35%. I don't need these cards for my living expenses just a a credit tool. Am I doing the right things to build my credit quickly?

I am also thinking about getting a secured loan at my credit union for about 1 or 2 grand

Am I doing the right things or am I be to aggressive? Like I said I don't "need" the cards for my living expenses just as a tool for credit building.

5 Comments

Comment 1 by hjm331
You Might Want To Slow Down on 2008-03-10

You are doing all the right things but don't do them all at once. Remember, you can't build your credit overnight and there's no easy path either. It all takes time and make sure you make all your payments on time and don't get over your limits.

Make sure you use each credit card at least once a month to keep them active and so they won't close your account. Good luck, hope this helps.
Comment 2 by hjm331
You Might Want To Slow Down on 2008-03-10

You are doing all the right things but don't do them all at once. Remember, you can't build your credit overnight and there's no easy path either. It all takes time and make sure you make all your payments on time and don't get over your limits.

Make sure you use each credit card at least once a month to keep them active and so they won't close your account. Good luck, hope this helps.
Comment 3 by meya
Heck No! on 2008-03-10

HJM331 told you the best thing, but your best bet is to go to Cap1, Orchard, Creidt One, or Hooters. Cross over to the Network on this board and we can tell you a whole lot more! You are already signed up, just click the network on the bottom right hand corner.
Comment 4 by markrivers
Yes You Are! on 2008-03-10

Yes you are on the right track.

but don't apply for another card.

wait around six months... So that you won't have too many inquiries all at once.
Comment 5 by hjm331
RE: Mark on 2008-03-10

It's not only the inquiries that will hurt his score. If you open up too many accounts within a short period of time, that will also hurt your score.
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