managing credit.....tips?

Piggybacking of credit still works but is more restrictive to the wild abandon of pre 2008 mortgage qualifying times. It works best with blood relatives in the same household whom have the same last name. For instance A Jr who lives with his elderly parents as a caregiver. This is what is called the Authorized User account. The credit history bleeds over to the user. Hopefully for the better.

a reply to: Grovit

You've received some good advice here. I certainly wouldn't worry about maxing the card out monthly by any means, as long as you're able to manage within terms any debt you incur on the card and pay on time, your credit rating will improve and you'll get better offers ad well as be able to request limit increases/APR reductions on the current card.

A car loan is definitely good as well, just be sure to NEVER over-extend and always be able to meet your obligations.

I started off with a card at $2k limit about a decade ago, always paid on time and had a car loan, and now I have a ridiculous amount of available credit across multiple cards and a very high credit score. Just don't get wound up in it so as to avoid constant debt and various penalties and you'll get there with no issue.

There are two main types of credit: installment loans like a fixed term loan of x months and revolving.

With revolving which are credit cards there are credit and then their are charge cards,A charge gets paid in full at the end of the term.

Every credit card (CC) is underwritten by a larger bank/financial unit. These units have underwriters who can be called to recon decisions and increase credit lines, etc... These backdoor numbers are like exlax for credit limits or NOs to transform to YES. There is an art form to this as well as a science.

In general higher limits with one card help snowball the next card to have higher limits.

Most of the time store or toy cards or to be avoided.