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How to build my credit!
Okay so my question is not that urgent, however I want advice anyways. So I am a 1st year law student and have just started to build credit. I am looking to the future and know that in 3-4 years I want to buy a house and get a good interest rate. My dads works for wells fargo's mortgage branch and told me to start early so I get build a solid foundation. My current CK score is 677 I have 2 questions:

First off how will my student loan debt effect my credit score? I expect to have $80,000 in student loan debt after graduating law school.
Second, I have been approved for 3 credit cards: Bank of America ($700 CL), Discover It ($500 CL), Capital One Platinum ($300 CL). What should I be doing to best utilize these card to raise my credit score? Should I get more card? Any advice is helpful. I just want to do as much as possible to build a solid foundation of credit.

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First, congratulations on starting out ahead of the game. Many, if not most people are trying to overcome mistakes to rebuild.

Student loan debts could impact some lendors when they are looking at your credit history for a mortgage loan but they will also help your score as long as you maintain a positive payment history. They will also help diversify your credit. Many people have to depend on Credit Cards and Car Loans to build/rebuild their credit.

As for the 3 cards, I am going to assume they all have relatively similar interest rates and/or rewards. If possible, pay them all ALMOST off every month. The maximum you want to carry without any of them being flagged as highly utilized is about 30%. I pay mine down to 1% each month. That keeps them from showing up as 0 balance, which actually doesn't help your score as much as a card with some balance on it. Also note, I made a math mistake one month and paid a card down to like .96% and they round down. Anything less than 1% shows up as the same as a 0 balance.

I have 3 Credit cards as well; 2 secured and one unsecured. The two secured cards carry a slightly higher interest rate and no rewards, so I use the unsecured card mostly and have my Netflix and Hulu bills setup to go to the unsecured cards. This keeps the cards active and I was going to have to pay that money anyway. I don't even cary those two cards with me. They are just sitting in a drawer doing a fine job of keeping my Open Utilization low and Average age of Accounts higher. 

One last note, I would be cautious of taking on any additional balance increases or new cards. Your loan officer is already going to be grimmacing over the student loan amounts and any additional rotating credit would be seen as additional liability. I would just keep a 100% on time payment history and let the accounts you do have continue to age. Your score will increase slowly as any hard inquiries fall off and you current accounts age.

Good luck!

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