[HoodStrype]

Ahh... my kind of topic- I used to sell mortgages and my father-in-law owns the place. I can tell ya anything about credit. Check this out... free advice from the industry:
Mind you this is for everyone, whether your credit limit is $300 or $10,000
Keep 2/3 of your credit limit at all times. Don't pay it off month to month unless you put another 2/3 of that limit on there. NEVER make a late payment! This shows the banks that you use your credit and pay on it. Your credit score (or lack there of) will go through the roof in less than 6 months. I've done it myself and watched others do it. After you do that for a while, you can go get that loan for the new mustang GT and brand new house when you can AFFORD them.

As for my old credit card- I got sucked into it. They gave me a $5000 credit limit and I took them up on it. Then the APR went to 26%. I have to tell you that it is not worth it. Keep a balance that you can afford month to month and you'll be fine. Figure it up online with a mortgage calculator at 21% interest and see what you can afford my man. $360 ain't bad at all, just make sure you calculate the interest now. If you have a credit limit that will allow you to buy a supercharger, that's pretty high for starting out. I wouldn't recommend 2/3 of that right out of school. Go get a Sears card or something.

PS: If you go over 2/3 and keep it there your credit score will drop. I did that a couple of years ago with the $5000, and my score dropped like 100 pts.

Peace