Badger33

742!! Woot.

I understand the choice of putting the 5k into the CD but when it comes to investing, I have no idea which banks and etc. What kinds of cards would you recommend and is there anyway to get a credit limit increase on the cards I currently have. What would your talking points be when asking for the increase and such. Would you choose a Credit Card or a Charge Card? Why? OP, you are a student.....when I was a student, I sure needed that $5K.....try Alliant CU - you can put the $5K into checking, at 1.5% interest rate....and your account is secured against any loss by fed gov up to $250k. You have good cards - try calling and see if they can give you an increase w/o pulling a hard inquiry....Mention that you need a limit increase because your usage - you need a bigger TL. I would pick a credit card, although a product from AmEx is also not a bad idea (charge card)....just take the one with minimal fee, zync. Again, why do you need much higher limits? you will get there without doing anything, just make sure 1) you are always on time, and don't let anything go into collection, 2) obtain a well paying job upon graduation - it's that simple I was a student, and, unless you have $xx,xxx or $xxx,xxx in cash, I wouldn't tie up my own $5K in your position. VK Alright, I will look into the CU idea, I think there is one around me that has a 3.00 APY checking account as long as under $5000 and some other terms.

I understand the choice of putting the 5k into the CD but when it comes to investing, I have no idea which banks and etc. What kinds of cards would you recommend and is there anyway to get a credit limit increase on the cards I currently have. What would your talking points be when asking for the increase and such. Would you choose a Credit Card or a Charge Card? Why?

Ya, I don't believe I have any military ties, minus an uncle that was in the Coast Guard or Navy possibly. Yes, I have tried to be very cautious with spending. I don't buy anything I couldn't pay with cash or a debit card. I definitely appreciate all of the advice you have given, I may have to post a new topic about the differences between a charge card and secure card from a CU.

Thank You for both of your previous replies! This website has lots of information and trying to absorb it all is an undertaking in itself. So would a secure card with say a $4500 to $5000 be a good choice, because I already have a card with a limit of $1200. Are there any specific CU's to look at or even CC companies that would give an account with such a limit? I was thinking of the amex zinc or gold because won't it report my limit as the highest balance on a charge card?

That makes sense, I will be sure to check those. Also, some months I will pay off the balance in the middle of the month and then again at the end. Does that affect the credit reports. Now will opening another account or two help my score in the long run, I understand it will get dinged in the short term.

Yes, being 20 I do have inquiries that are on my credit report. How do I know when they report my balances to the bureaus?

I should have clarified. What kind of balances are showing up on your statements, OP? These are typically the balances that are reported to the CRAs. The Balances for my Revolving Accounts are $89.00 right now and Installments are $5500. Would opening another account help my credit score in the long run or should I not add any more hard inquiries? I appreciate all of the quick responses.

I'm 20 years old with a credit score in the 720's on all three bureaus. I have three credit cards: 1. Discover (750 limit) 2. Citi Visa (1200 limit) and 3. Target (300 limit); and an auto loan that has $5500 left to be paid. All of the credit cards and auto loans are up to date with none of them showing as being paid late. So my question to you is how can I raise my credit score up to the 750's? I pay all credit cards off every month, so I don't get hit with the 23+ APR on the accounts. Thank you for your help.