Credit accomplishments this quarter

  • Got credit score over 720
  • Got credit line increase from Discover
  • First $10k limit credit card get
  • Obtained Barclay Ring card (only available to those with excellent credit)
  • Amex upgraded from Gold to Platinum
  • Offered $25k personal loan from Discover (did not accept)
  • Maintained average utilization below 35%

Now waiting for Barclay to deliver plastics before I request a CLI.

2 replies on “Credit accomplishments this quarter”

  1. Congratulations! You’re right about that 35% sweet spot. And those personal loans from Discover are hilarious. They offered me one at 7.99% once to help pay off a 2.24% car loan.

    I’m pretty happy with my current plastic:
    Amazon VISA = 3% at Amazon, 2% at restaurants and gas stations, 1% on other things.
    Fidelity Amex = 2% on everything that takes Amex.
    Discover More = 5% on whatever (this season, gas!)
    Never paid interest so the % there is meaningless.

    Last time I checked, I had a relatively thin record, but good enough to qualify for other offers. Only issue: no green card, which nixed that 5% gas card from Fannie Mae (the Amex and Discover are in fact green, but that doesn’t count for some reason . . .). They were certainly more rigorous than anyone else, bar my credit union for that 2.24% car loan – I got an actual callback and discussion of my history. I guess they use mortgage underwriting standards.

    720 isn’t the end of the road, but you should be able to get a perfectly good mortgage or car loan right now if you need one and have free cash flow (assuming you count fursuits as a discretionary expense :-).

    1. I tend to not buy cars on credit because I don’t want to pay 1/3 the price of the car for the privilege of spending money I haven’t earned yet on it.

      I save up money and buy the car with cash.

      If I’m going to spend four years paying off a car, why not just pay myself $xxx/month for four years and then spend the money on a new car after 4 years?

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