I bought my Evo for 20gs after trade in, 2 yrs ago when I was 20, the first day of my new job. No cosigner and I got 7% 60 months from Hawthorne Credit Union. I hads tons of school loans and 4 maxed out credit cards. i also had tons of hits for late payments. if I can do it so can you. You would help your score if you paid a little interest on those credit cards. currently you are not building much credit purchasing with those credit cards and paying them off in full immediately. The question "Why didn't he just pay cash?" comes into play.

 

How many computers do you build a week to make that much money? I build computers as well so I'm wondering if your banking that much maybe im in the wrong field. As far credit you dad should be fine for a co-signer. Man I remeber when I had little credit and couldnt get anything, it sucks. Good Luck.

 

As said by others... It is terrible to max out your credit cards
for a credit score .

I would almost wait with 4k and month and only 1k payments.. You're banking in
and could almost pay straight out cash for it. IMO Your car though

Some advice as a college student that is worried about credit scores.
Try to lower your credit cards down to 2. Use the credit cards till you can
get another one that has a larger credit limit. Try for around 2k credit limit,
then cancel the others till you get down to 2 credit cards at 2k credit.

Good luck with the 9 though

 

There is some good advice in here but I would consider alternative cars. Have you taken into account gas, insurance, maintenance, etc?

You can't build a credit score over a short period of time. The whole concept of a credit score is to show that you are responsible with making payments on outstanding balances, ie - it takes time to build it up.

Why not purchase a low mileage 03, 04, or 05? This way you only have to take out a $10,000 loan instead of a $20,000. Get the 60 month term but pay it off within 12.

Then in a year or two you'll know what its like to make those $350 payments on top of gas, insurance, etc.

You may soon need to start thinking about health insurance, retirement funds, investment opportunities, and purchasing a house.

I would've loved to have a car like an EVO IX when I was 18 but thank god I didn't. Take this for what it's worth and good luck.

 

If you are making $4k a month, you don't need to do much to build credit. You should be able to borrow against your liquid assets (with $4K a month income you prolly got many thousands saved up already). If you borrow with your own cash as colateral, you should be able to get very good rates and build up your credit like that....

BTW, I'm always amazed at how much money all the guys in these forums make or already have...... The typical EVO owner appears to be rather well off if not wealthy... I swear, I'm a little envious of so many guys in their teens already making as much as college grads or even having houses, huge bank accounts, etc.

 

even if you lower your utilization down on all cards to 30%, youre still not going to get approved with only 3 months of credit and no installment loans. nothing is going to get your fico score up less than maybe 3 months. try this, ask your dad to add you as an authorized user on one of his oldest credit cards that has a big line of credit, and low utilization. you dont have to use the card for the card to report to your credit reports, as long as your name is on his account. the length of the credit history on that card will transfer to you, along with the utilization. so say if your limits are $1000 in total right now. he adds you on his amex card with a credit limit of lets say, $25k. that brings your total credit lines to $26k and with both of those $500 cards maxed out ($1000) you're using way less than 30% utilization. also, how many lates have you had with both cards? recent lates (less than a year old) hurt your credit scores pretty bad.