Question by erin.danu: How do I build/repair my credit score?
I have very limited credit history. I started this January. I read that I have to get a few credit cards to build credit history. I have a secured card from Citibank which only has 200 credit limit. A Citibank secured loan for 500. Bank of America gave me 4000 CL for A Worlpoints Platinum Plus Credit Card. I have a ChaseFreedom Mastercard too. Thing is I’m preparing my credit history for a car loan. I applied for other credit cards in one day and got a few rejections… reason being having too much inquiry ( ok, i know i should have not made too many applications but i figured to just do it all at the same time) and too low credit line. But I never missed a payment, I only use 30% of my credit line and pay off more than the minimun balance.
Questions :
How bad will these inquiries affect my chances of a car loan?
How many months should I wait to have this fixed?
How can I increase my credit score?
Thanks! 
Best answer:
Answer by goddesswithin13
If you have a parent or friend that has good credit and open credit accounts, ask them if they can put you on their card as an authorized user. Make sure and let them know that you don’t actually want a copy of the credit card and are not going to be using it. By adding you as an authorized user on their credit card, it will raise your credit score on average of 50 points.
I would wait 6 months before even thinking of applying for any other credit lines including a car loan. Make sure and pay down your credit cards as much as possible and keep the lines of credit open, but paid off. Possibly keep one card with a balance and continue paying a little above minimum each month. In six months, if you have stable employment history, you should qualify for financing. Do research before applying though to find out who offers the best interest rates and find out what your current credit score it. Check to see what guidelines each financial institution requires and make a decision on who YOU want to loan You money.
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