I’m looking to increase my credit score. Any suggestions?
I currently have a 663. My main problem (to my knowledge) is that I don’t have credit. I’m 23 years old, no debt, full-time job as an economic consultant. Fixed annual income of ,000.

Summary
Payment History: Very Good – 37%
Amount of Debt: Poor – 29%
Length of Credit History: Poor – 7%
Amount of New Credit: Poor – 12%
Type of Credit: Good – 15%

Accounts
Mortgage
Installment
Revolving Credit Line -1 account, Bal. ,466, {content} Credit Line, mthly pmt, 1 acct. w/ a bal.
Other
Total – Only have the revolving credit line mentioned above.

Length of Credit History 6 Years , 3 Months
Average Account Age 4 Years, 9 Months
Oldest Account BANK OF AMERICA (Opened 07/2004)
Most Recent Account CITIBANK SD, NA (Opened 02/2009)

Explanation: Contradictory information has been given by Equifax. It says that my oldest account is Bank of America however I closed this account down in September, 2010 – before I realized that I should have kept that open for credit reasons. It was a joint account that I had opened in July, 2004.It had a high balance of 8, a credit limit of 0, no late payments, and a comment says: “Account closed at consumers request”. I started as a co-signer with my dad then changed the account into my name when I turned 21. The current credit card I use is a Citibank AAdvantage card that doesn’t report my credit limit because they say I don’t have a preset limit (even though the credit limit online somewhat deceivingly tells me I have a ,500). I use this account everyday and average about 0 a month which I pay off in full every month. I have no late payments and this account has been open for 22 months (since 02/2009).

Inquiries
Inquiries in past 2 years: 6
Last inquiry: 9/30/2010 — by CitiBank when I asked for a credit line increase from ,500 to ,500 as I thought this was going to help my credit. In actuality though, this increase will most likely not help my credit since it isn’t being reported. Correct??

Other Inquiries
1.AT&T – August, 2010 – Cable, Approved
2.Citibank – August and September, 2010 – Credit Line Increased (related – included follow up discussion with the underwriting department), Approved
3.Discover Financial Services – September, 2010 – New Credit Card, Denied
4.National Background Information Center – July, 2010 – Background Check as a government contractor

Potential Negatives
Public Records: 0Negative Accounts: 0Collections: 0

“Items hurting my account”
1.There is insufficient information about installment payments
2.You have a low credit line on revolving credit

“Items helping your credit”
1.You have excellent payment history

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Tags: 23 years, 6 years, 9 months, acct, actuality, bank of america, citibank aadvantage card, co signer, Credit history, Credit score, economic consultant, Equifax, full time job, inquiries, late payments, line 1, payment history, pmt, preset limit, revolving credit