Long as we are on this topic, I'm also trying to build some credit. My plan/history is this:
1st credit card at 18. Charged ~ $700 on it, payed it off with slightly higher than minimum payments on it monthly.
Took out a loan to buy the SVT, ~$8,000. Been paying it off about 400 per month, w/ a minimum payment of 230 per, and am now down to $4,300
Kept the 1st card and got another. Charged ~ 500 on it, and am currently paying it off with slightly higher than minimum payments on it.
Now for future finances, should I close out the card I don't use anymore, and get another and charge to that? I've heard that creditors also look for variety in your credit score, so I am trying to use multiple credit card company's. Is this a good idea, or should I just keep paying off and rebuying on the same card?
Last edited by PlatoSVT; 05/26/05 01:36 AM.
