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What should I expect with a good credit score but a limited history?
I have a 675 credit score, but I'm 20 years old and I've only had a $500 secured credit card for about 9 months. I know I need to have a deeper credit profile, but what is the best option for growing my credit history?

I'm close to buying a better car, for around $4,000 all cash up front. However, I'm thinking about getting more around a 6-7K car by getting a loan, mainly for the purpose of improving my credit, as well as to have a better car than I'd otherwise buy. If I do that, should I try for a small down payment to make it more likely that a bank will approve the loan, and then make a large payment right afterwards?

I'm unsure if I should do that because I know I'd waste a lot of money on interest and by having to have comprehensive car insurance, instead of just liability insurance. Plus, I'm unsure if a bank would even want to help me, especially with the small size of that loan.

Would it be better for me to buy a cheaper car, without a loan, and apply for another credit card instead? Additionally, would a store credit card help much with increasing my credit profile, because that'd be more useful for me. I'd hardly use another credit card, but if I got a store credit card, it'd be useful since some stores offer interest free financing on large purchases with their store card.

My main focus with my credit is to get my own apartment on my own in about 9 months. I make $2,500 a month after taxes, and so I'll have a good savings again by the time I get my own apartment. Though, I'd like to avoid having a huge security deposit.

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I would say get two more credit cards and one installment loan for a small amount, even if the credit lines have to be secured. Make sure that the lenders report to all three credit bureaus before applying. Pay down the loan a good amount and use the cards responsibly and give it a little time and your profile will get better. Remember that revolving accounts have more weight than installment loans, but it is good to have one installment loan active in your profile. As to your automobile question, that is up to you, but I would not finance an auto just for building credit, a thousand dollar installment loan will do the same. Keep reading on how to build credit and understand that you have more than one credit score and learn about the different scores that you will recieve from different places.

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