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SEEKS Offline
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I MESSED MY CREDIT UP :'( - March 16th 2012, 02:02 AM

Hello,
I'm pretty young, but I've been living without my parents for a while.
I got a "Student" credit card not long ago and then, month later a best buy car and a kohls card.

I did not know this back then... but getting so many cards in a year really lowers your credit score.

I am responsible when it comes to paying in time and all that, but the simple fact that I opened so many card at once affected my credit sections of history length and ... I dont remember the other one.

I Feel like I'm in a huge pickle right now. I don't know a lot about credit scores and all that but i do know mines and I asked to professionals and they have told me its bad.

I am very stressed so im gonna get to the questions.

1. Is there any way to fix this?
2. How can i improve my credit (besides not getting more cards.)?

should I be like crying boring?

if it helps. im from NY, US
   
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Dr.Bobby Offline
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Re: I MESSED MY CREDIT UP :'( - March 16th 2012, 11:48 AM

You're entitled to up to 3 free credit reports per year, google the credit reporting bureaus and contact them and see what your FICO score is.

The way you establish credit is to have cards and then pay on time! It's the payment history, not just the number of cards. The problem with more cards (esp. early on) is that you get more total credit without a history of payment, so you're seen as more of a 'Credit risk'...those with less history and more credit are riskier because there's less past payment history to judge you on, along with the probability of more debt....which often spells trouble. You can always cancel the ones you don't use, and maybe substitute a Visa or MasterCard, which are pretty universally accepted, so yo don't need dedicated cards that can only be used in specific, issuing stores (like Kohl's).

The most important thing about establishing credit is to make sure you pay on time (preferably in full).


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