Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!


Posted in Credit Cards
Profile Image

Question By

0 Contributions
0 People Helped
Am I doing everything correct?
Hi all! I am an 18 year old male and I got approved for the Bank America Cash Rewards Card about 2 months ago with a credit limit of $700.

I spend about $300-$320 a month on it, but pay off about 95% of the cards balance before the statement closes to show a 5% utilization rate. If you are familiar with BOA, they give you a "due date" (which is about 2 days before "statement closing date), then they give you a closing date.

I'm looking forward to that $100 bonus back in rewards for spending $500 within 90 days of the account opening! :D

So my question is.. Am I doing everything right to boost my credit score? What can I do that I am not doing to benefit my score? How long will it take if I continue on the same pace as I am practicing now to get my score near the high 600s.. Maybe even low 700s? And when should the appropriate time be for me to apply for another card, preferably a Best Buy Credit Card seeing as I've read that store cards are good for scores too.

Thank you all very very very much! :)

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.


Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.