Building a solid credit history

ralphch said: I'm 24 and carry only one credit card (Citi mtvU Visa) for the last two years. I've always paid my statement in full each month and have received automatic credit line increases every two to three months. My credit line went from $1,500 to $5,500. Over the past few months, however, I have stopped receiving these automatic increases and I'm hesitant to request one via a hard pull, since I don't really need it. Therefore, I'm planning my next move to continue to build my credit history.

Among my favorite candidates are the Citi Diamond Preferred Rewards Card (MasterCard), CitiForward (Visa) and American Express (either Gold or Blue cards). My questions are:

(1) Since I'm already a Citi customer, is there any advantage for my credit score to use a different lender? For example, BoFA, HSBC, Chase, etc.
(2) If I already have a Visa credit card, is there any advantage for my credit score to choose a MasterCard or American Express ?
(3) Is having an American Express credit card somehow better for my credit history and score?

Finally, I would like to point out that I also have a Honda car loan, which I also pay in full and on time each month.

I would really appreciate your wisdom on what I should do next to build a stellar credit history and score.

Thanks,
Ralph

Get a few more cards, then wait. Not much else you can do, as time is one of the biggest factors.

Thanks for your advice. I would really appreciate knowing if there's any advantage to having an American Express other than the "status" factor. Also, is there a difference between an AMEX directly from them or a Citi-branded one?

Check the sticky about the best CCs to get.

You really want to have a few cards. I'd say at least 6. Preferably no more then two per issuer. It would really be bad if Citi reviewed your profile and then chose to cancel your oldest card. This is happening to a many people who carry and debt with Chase.
Extra cards allow you to get more benefits, and sign up promotions.

As is, building credit is easier then repairing credit. Make sure you pay on time and don't over spend.

1) Since I'm already a Citi customer, is there any advantage for my credit score to use a different lender? For example, BoFA, HSBC, Chase, etc.
Yes, you want to diversify issuers in case one is bought out, or chooses to sell the cc department, or even closes it (like Advanta)
(2) If I already have a Visa credit card, is there any advantage for my credit score to choose a MasterCard or American Express ?
Credit score is not effected by the brand of card. There is an advantage however if the merchant doesn't take a certain card, or only takes a specific card. I've gotten along fine without an AMEX.
(3) Is having an American Express credit card somehow better for my credit history and score?
No, nor will having an AMEX be somehow prestige. The Prestige cards are way out of your reach, and are not based on credit score, but yearly spending.