u/wander_soul_xx

I'm a quite an interesting situation here and I would love to receive everyone's input on how to best navigate my credit profile. My current FICO score: Equifax 742, Experian: 746.

I recently applied for a premium credit card and I was rejected twice because of "Lack of installment account information". I have never taken out a loan in my life so I have no active installment loan on my credit report. I have 5 credit cards with total credit limit of 31,000: 2 with Amex, 3 with Chase including more premium ones like Amex Gold and Chase Sapphire Reserve. Oldest account is 1 year 7 month and AAoA is 9 month. Thus in terms of credit mix, I only have revolving and open credit cards accounts. No late payment, always paid statment balance in full. Ultization 1-2% using the All Zero Except One method.

I'm aware that adding another installment loan will reduce the AAoA a bit but since I have 5 other credit cards account, it'll soften the blow. Also I don't want another hard inquiry on my credit report. I thought of an option to take out a small loan, wait for 1 month after the loan is reported, immediately paid it off. Then for the FICO model, the "closed" loan account will still stay there for 10 years. From lurking this subreddit, I became aware of a few options to add a installment loan into my account without hard inquiry.

- Open a Self Installment loan account: $25 a month plan. They will report a $25 installment loan to all 3 credit bureau.

- Navy Federal Pledge loan: Deposit certain amount, paid off 90%, then set autopay for $10/month. However, I'm not affliated and according to the website, if you don't have family in military, you can't do it.

Thus, I'm looking for advice how to add a installment loan into my account without hard inquires + mimimum payment every month for a long time like 5-10 buck a month to help build my credit profile (for example, i'm based in NYC, what's a good credit union for a saving secured loan). Thank you so much!

Hi everyone, i recently opened 2 cards and need to hit SUB for both simultaneously within 3 months. Since paying rent does not count toward of Bilt Palladium SUB, I was wondering if I link my new Chase card with Bilt platform, use that to pay rent, even though it will incur 3% fee. Will that rent payment through Bilt platform count towards my Chase credit card SUB? Has anyone used this strategy to hit SUB on other credit cards? Thank yoh so much!