Got my first major credit card today! After a long struggle to clean up my credit

[Spectre]

I've been working diligantly to clean up my credit for the last 6 months. I've gone from FICOs of 540 EQ, 540 EX, 640 TU(odd man out) to FICOs of 648, 680, 641, respectivly. I have no negatives on any report, all my balances are correct, and 4 or fewer inquiries on each

The only thing keeping me back now are that my accounts are all pretty new, about a year old, my balances on my 3 cards I have now are about 70% of my max, and I have no major credit cards, all store cards.

Well, I applied for an got approved for, a USAA platinum mastercard today.

$2000 limit, 18.9% APR(ugh, but that was expected)

Very happy. Myfico.com's credit simulator projects me jumping to 670ish when this shows up on my credit report.

[LNY]

Congratulations!

Now concentrate on paying down that 70%, and don't use those cards anymore until you at least cut that in half, OK?

[elyse449]

Congratulations on all your hard work!!

Elyse

[nikkiu]

Congratulations! I just got my credit cards about 2 months ago and I'm still surprised someone not only gave me 1 card, but 2.

Keep up the good work!

[PolarBearnCO]

Congrats!

As someone else suggested, try to get that 70% down to about 35%, then down to 20%, then 10%.

Whatever mess you may have once been in is now history, so don't make the same mistake twice. If you can't pay for it, you don't need it. Try to use those credit cards for medical or unemployment emergencies only... and to improve the credit reports.

The only card I use that has a Visa/MC logo on it regularly is a PayPal debit card. I put money in my PayPal account then use the debit card to get it out. They give me 1.5% cash back instantly... the best reward program I have ever seen.