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DansDeals Forum => Credit Cards => Topic started by: nfsnyc on July 01, 2008, 02:24:00 AM

Title: Credit Card For Beginners
Post by: nfsnyc on July 01, 2008, 02:24:00 AM
I was SURE there was a similar post up already, but couldnt find it, so at the risk of askin an old question, ill post this.

Whats a good FIRST credit card? Everyone says Capital One, but I dunno, they send out all that junk mail, and when you call them the reps are too eager to "assist" you..

Is there another option for a newcomer to the CC scene, such as a "student" card?

Ive been eye-ing Chase Banks cards, such as:

http://www.firstusa.com/cgi-bin/webcgi/webserve.cgi?partner_dir_name=cac_regal_stu&page=index

Says $0 annual fee, "At least 20 days Grace Period" (At least??) and various APR rates on par with other low credit rating cards. And its a "Student Card", so im assuming I should be approved?

Not 100% sure how that 20 day grace period works would be nice if someone can explain this to me:
Say my cycle ends on the 15th, and I buy something on the 16th (which +20 days grace would mean my "grace period" is up on the 5th (or 6th) of the following month) Now what if I have an "auto pay" set up to pay the full balance every 15th, will my payment be too late now (for the 16th purchase)? (Since it wont pay till the 15th of the following month, 29 days later)?

If anyone understands my question it would be nice if sum1 can clarify lol.  ;)
Title: Re: First Credit Card
Post by: Yoel on July 01, 2008, 11:31:06 AM
The grace period is at least 20 days, meaning if you made a purchase the last day of your billing cycle, you have at least 20 days until your bill is due. If you made a purchase 1 day after your billing cycle than your grace period is obviously longer than 20 days, more like 7 weeks.
Title: Re: First Credit Card
Post by: Dan on July 01, 2008, 11:51:04 AM
http://www.dansdeals.com/archives/2902
Title: Re: First Credit Card
Post by: nfsnyc on July 01, 2008, 12:11:07 PM
The grace period is at least 20 days, meaning if you made a purchase the last day of your billing cycle, you have at least 20 days until your bill is due. If you made a purchase 1 day after your billing cycle than your grace period is obviously longer than 20 days, more like 7 weeks.

So youre saying every purchase has 20 days after the billing cycle within which it was made to be paid? So you kinda have up to 50 days? (cycle plus grace?)

And Dan, I found that link you posted after writing this, kinda makes this thread repetitive, but any comments on the particular Chase Student Card I linked to?
Title: Re: First Credit Card
Post by: Dan on July 01, 2008, 10:46:25 PM
I wouldn't bother with a student card.
Get a Gap card, use it for a few months, and then you should be able to get a good card like the Starwood AMEX.
Title: Re: First Credit Card
Post by: corny on July 11, 2008, 02:38:30 PM
i read somewhere that the first credit card you get you should keep [and use atleast every six months] becouse its importent for your credit that you had a card for a long time, so you should ask yourself if a gap card is a card that you want to keep for the rest of your life? i think you would be better off with someting like the chase or any student card from a good company that has half decent rewards [ i got the "has us-bank student card" ] and then as dan says sign up to something like the starwood
Title: Re: First Credit Card
Post by: mancunian on July 14, 2008, 01:13:20 AM
i opened a bank of america student card 6 months ago and applied a few times (about 3) for other cards and was denied. Any ideas why? Is it b/c ive been using most of my credit limit?
Title: Re: First Credit Card
Post by: corny on July 14, 2008, 01:53:03 AM
i opened a bank of america student card 6 months ago and applied a few times (about 3) for other cards and was denied. Any ideas why? Is it b/c ive been using most of my credit limit?
if you want to build up good credit score you should not be using up more than 30% of your available credit [some say that less than 15% is the best] but if you use up more than 50% you are doing harm to your credit, cnn says not more than 35% http://money.cnn.com/2006/07/10/pf/credit_killers/index.htm
so if you were using 80-90% that explains why u were rejected
Title: Re: First Credit Card
Post by: mancunian on July 14, 2008, 07:16:33 AM
so lets say i pay off the whole bill, how long should i wait to apply again?
Title: Re: First Credit Card
Post by: Yoel on July 14, 2008, 03:07:30 PM
so lets say i pay off the whole bill, how long should i wait to apply again?
In about 2-3 billing cycles your credit score should go up, and you should have a much better chance of getting approved for a new card, depending on your overall credit.
Title: easy to get eccepted credit card?
Post by: corny on October 31, 2008, 12:20:42 PM
i have a friend who never had a card before so i told him to apply to the u.s. bank student card but they rejected him unless he can send in tuition forms. so what is the best credit card he can apply for that does not ask to many questions or need any forms even from a newby, that he can get eccepted for sure?
Title: Re: easy to get eccepted credit card?
Post by: Charles The Govenor on October 31, 2008, 03:22:38 PM
Try orchard bank.
Title: Re: easy to get eccepted credit card?
Post by: ash on October 31, 2008, 03:39:50 PM
some cc like citi they have a card that you give them 500 and they give you a card of 500 and thats to start your credit

you could try and open a macy,s or gap card to get your credit started
Title: Re: easy to get eccepted credit card?
Post by: israeli on November 01, 2008, 07:28:49 PM
pm me
Title: Re: easy to get eccepted credit card?
Post by: randomness123 on November 01, 2008, 09:29:14 PM
i applied for a bank of america student card and they didnt ask for any kind of proof. maybe try them!
Title: Re: easy to get eccepted credit card?
Post by: mllymc on November 03, 2008, 05:28:20 PM
try chase student
Title: Re: easy to get eccepted credit card?
Post by: mllymc on November 03, 2008, 05:28:29 PM
...or capital one
Title: Re: easy to get eccepted credit card?
Post by: Yitzter on November 03, 2008, 08:41:39 PM
Corny, stick with Bank of America, thats where he has is checking account, and they are more likely to give him a credit card.
Title: Re: easy to get eccepted credit card?
Post by: Dan on February 24, 2009, 04:21:30 PM
I started with a GAP card for a couple months and then had no problem getting the real credit cards.
Title: Re: easy to get eccepted credit card?
Post by: moe on February 24, 2009, 04:29:38 PM
I started with a GAP card for a couple months and then had no problem getting the real credit cards.
Dan, you used to lived without any credit cards in your early years??!! lol!
Title: HELP!!! HOW DO U BUILD UP UR CREDIT??!!
Post by: Emily on August 02, 2009, 02:55:39 PM
I'm trying to get my first credit card and the citi turned me down because of "Too few satisfactory credit references were recorded on your credit bureau report. And the consumer reporting agency serving your area has reported only a limited credit history for you." WHAT COULD I DO FOR THIS??!! I WANT MY MILES ALREADY!!!!!
Title: Re: HELP!!! HOW DO U BUILD UP UR CREDIT??!!
Post by: aaa on August 02, 2009, 04:13:10 PM
I'm trying to get my first credit card and the citi turned me down because of "Too few satisfactory credit references were recorded on your credit bureau report. And the consumer reporting agency serving your area has reported only a limited credit history for you." WHAT COULD I DO FOR THIS??!! I WANT MY MILES ALREADY!!!!!


First, calm down.

Second, have your mom or dad add you to their older CC accounts as a joint account holder. Only do this if they have good credit themseleves.
Add yourself to several of their accounts if possible.

Third, wait a little bit, maybe 1-2 months and then try again to apply for a new card.
Title: Re: HELP!!! HOW DO U BUILD UP UR CREDIT??!!
Post by: Dan on August 02, 2009, 06:24:31 PM
First, calm down.

Second, have your mom or dad add you to their older CC accounts as a joint account holder. Only do this if they have good credit themseleves.
Add yourself to several of their accounts if possible.

Third, wait a little bit, maybe 1-2 months and then try again to apply for a new card.

Yup do that and try to get a store card, like at Gap, to build up your credit before applying for a real credit card.
Title: Re: HELP!!! HOW DO U BUILD UP UR CREDIT??!!
Post by: Emily on August 02, 2009, 07:30:43 PM
Thanks so much for ur answers... Appreciate u taking the to answer. Here's the problem- we just tried to do that and add me as a card holder but they didn't ask for my social so WHAT'S THE POINT?!
Title: Re: HELP!!! HOW DO U BUILD UP UR CREDIT??!!
Post by: Dan on August 02, 2009, 07:39:17 PM
Thanks so much for ur answers... Appreciate u taking the to answer. Here's the problem- we just tried to do that and add me as a card holder but they didn't ask for my social so WHAT'S THE POINT?!
Ask to be an authorized user on the account.
Title: Re: HELP!!! HOW DO U BUILD UP UR CREDIT??!!
Post by: Emily on August 02, 2009, 08:33:36 PM
we did and the lady had no problem giving me a card but it would just have my name and none of my information at all. not even social :(
Title: Re: HELP!!! HOW DO U BUILD UP UR CREDIT??!!
Post by: mancunian on August 02, 2009, 09:52:41 PM
we did and the lady had no problem giving me a card but it would just have my name and none of my information at all. not even social :(
I think its called a responsiblity user or something like that - just tell them you want to give them your social they'll understand

Yup do that and try to get a store card, like at Gap, to build up your credit before applying for a real credit card.

Or you can get a card from citi - whatever they'll give you - and build a history with them so you'll get there faster

good luck
Title: Re: HELP!!! HOW DO U BUILD UP UR CREDIT??!!
Post by: aaa on August 03, 2009, 02:41:50 PM
we did and the lady had no problem giving me a card but it would just have my name and none of my information at all. not even social :(

Right because you want to be a "Joint account holder", and not an authorized user. Sometimes being an AU helps but usually you have to be a joint account holder. And like Dan said, having a store credit card is a good way to start as well.

Also make sure this is done on a personal account and not a business account.
Title: credit card for beginers
Post by: steinl321 on September 02, 2009, 03:14:19 PM
Which credit card is good for beginners? Babies R us didn't approve me.
Title: Re: credit card for beginers
Post by: moe on September 02, 2009, 03:17:07 PM
try macys
Title: Re: credit card for beginers
Post by: Dan on September 02, 2009, 04:35:34 PM
Gap
Title: Re: credit card for beginers
Post by: zalman123 on October 15, 2009, 09:50:36 AM
try capital one they just approved my b-i-l after getting rejected from 10 other cc
Title: Re: credit card for beginers
Post by: eli1571 on October 15, 2009, 01:38:56 PM
I'd suggest if u have some money u don't need right now or better said u can spare for the next 18 month's then open a citi secure card i started off like that about 5 yrs ago it works amazingly within 2-3 months i was getting offers for other secure card's which i of course didn't apply for cause i didn't need it and after a couple of more months i got a pre approved capital one so i'd certainly recommend going  this way to start off credit
Title: Re: credit card for beginers
Post by: Dan on October 15, 2009, 02:11:46 PM
You can also get added as a joint account holder or an authorized user on a parent/siblings credit card to improve your own credit.
Title: Re: credit card for beginers
Post by: mancunian on October 15, 2009, 07:05:56 PM
if you get a student card from a bank they'll be quicker to approve you for their regular cards afterwords, ie citi/chase
Title: Re: credit card for beginers
Post by: eli1571 on October 15, 2009, 07:09:12 PM
You can also get added as a joint account holder or an authorized user on a parent/siblings credit card to improve your own credit.
  didn't they stop that. Iow that it doesn't help for ur own score
Title: Re: credit card for beginers
Post by: eli1571 on October 15, 2009, 07:10:35 PM
if you get a student card from a bank they'll be quicker to approve you for their regular cards afterwords, ie citi/chase
its almost as hard to get approved for a student card as a regular card for someone that has no credit at all
Title: Re: credit card for beginers
Post by: Dan on October 15, 2009, 07:25:17 PM
  didn't they stop that. Iow that it doesn't help for ur own score
Joint account holder has always worked, but I've read that authorized used works again as well.
Title: Re: credit card for beginers
Post by: eli1571 on October 15, 2009, 07:27:38 PM
Joint account holder has always worked,
just btw how do u open a joint account cc whos credit do they check ?
Title: Re: credit card for beginers
Post by: mancunian on October 18, 2009, 07:04:38 PM
its almost as hard to get approved for a student card as a regular card for someone that has no credit at all

everyone i know did it that way no prob - could be if you have a bank account with them its easier
Title: Secured credit card help
Post by: aussiebochur on May 06, 2010, 04:30:23 AM
First off, BIG fan of dansdeals and all the guys that post.
New in the states and id like to be able to get a credit card. As I've quickly learned you need CREDIT which I have non of.  :(
I've read through most of the forums and seen the various suggestions like:
1. Apply for Gap card. I applied for a Gap card-REJECTED!! Macys CARD-REJECTED!!
2. Joint card holder/Authorised user on parents credit card-They don't have american credit cards.
I guess that leaves secured credit cards as my only option, so does anybody know of/ had experience with a certain one which was good (no crazy hidden fees, proper reporting to credit agencies etc.)?
Amazing how in Australia the banks are asking me to take $18,000 credit cards and here I can't get a penny.
Thanks in advance for any help.
Title: Re: Secured credit card help
Post by: Crazy tools on May 06, 2010, 09:49:21 AM
I had the same problem, I got rejected from a few cards. I would assume from ur user name that your in yeshiva or school, so try applying for the student forward card from citi bank, the # is 1888-citicard, I just got a $4000 limit. (i had a card before for about 3 months, but a friend of mine had NO credit & got approved for 1800 which is pretty good) if u apply let me know i'll tell u what to do after u process the application.
Title: Re: Secured credit card help
Post by: hocker on May 06, 2010, 10:30:13 AM
i also have the citi forward i got approved for $2000 w/o any credit history. while discover student approved me for only $250.
Title: Re: Secured credit card help
Post by: aussiebochur on May 06, 2010, 03:10:59 PM
Just applied for the Citi forward card. Got a message that my application requires futher investigation and ill receive an email within a week. First time that I wasn't rejected immediately but should I get my hopes up of getting approved?
Title: Re: Secured credit card help
Post by: Crazy tools on May 06, 2010, 03:32:25 PM
good they did the same thing to me, they say to call back in a week but I called after 2 days, call 888-201-4523 follow the prompts that u didn't recive a letter..... they should tell u you status or transfer u, they asked me my school name, & I got approved 4000. hope it works out for u
Title: Re: Secured credit card help
Post by: Crazy tools on May 06, 2010, 10:43:40 PM
post back if u get approved, I'm curious to know if they approve even with no history, thanks
Title: Re: Secured credit card help
Post by: Deal Guy on May 06, 2010, 11:23:32 PM
Let me know if you are turned down for this as well. I may have a solution for you, to at least get something.
Title: Re: Secured credit card help
Post by: jack12 on May 07, 2010, 02:28:02 AM
Why don't you sign up for the citi secure cc? Basically you put $ into a cd and that amount is what your credit limit will be
Title: Re: Secured credit card help
Post by: Deal Guy on May 07, 2010, 02:49:59 AM
Why don't you sign up for the citi secure cc? Basically you put $ into a cd and that amount is what your credit limit will be

Exactly, that's where I was headed as well, I just was hoping that he would get approved on his own, since it's still pending.
Title: Re: Secured credit card help
Post by: Dan on May 07, 2010, 09:37:17 AM
Why don't you sign up for the citi secure cc? Basically you put $ into a cd and that amount is what your credit limit will be
And they pay you 5% interest!
Title: Re: Secured credit card help
Post by: Crazy tools on May 07, 2010, 09:48:57 AM
if you do such a thing does it get reported to the credit agency, will it help for a REAL credit card
Title: Re: Secured credit card help
Post by: Dan on May 07, 2010, 09:55:39 AM
if you do such a thing does it get reported to the credit agency, will it help for a REAL credit card
Yes.
Title: Re: Secured credit card help
Post by: SuperFlyer on May 07, 2010, 10:28:51 AM
Kudos for the downunderbochur !!!

1) He understands to praise the people that post (not members that just read, and write when they need)   ;D

2) Instead of opening a new thread, he looked for previous posts on the topic such as gap, etc, only ver few are doing this unfortunately.

3) Same as number 2

4) Same as number 2 and 3

5) etc..
Title: Re: Secured credit card help
Post by: jack12 on May 07, 2010, 04:20:17 PM
Dan - they were giving 4% 2 months ago. Maybe now its up to 5%.

How many months does someone need to wait until a credit starts building for him?
Title: Re: Secured credit card help
Post by: mancunian on May 09, 2010, 12:59:10 PM
correct me if i'm wrong but i've heard at some point they convert it to a regular cc and give you your $ back.

also, isnt there a way to transfer your credit, if you've had, across borders? Like a credit reference letter or something of that effect.

Also, are you telling them you've been in aussie land till now? if its not helping you it probably wont hurt to hide that fact...
Title: Re: Secured credit card help
Post by: SuperFlyer on May 09, 2010, 01:27:18 PM
If you've had an amex, you can ask for them to send a reference about you to their yankee counterparts. It could help.

That's provided, you didn't leave there with a down under balance...
Title: Re: Secured credit card help
Post by: aussiebochur on June 02, 2010, 03:40:56 PM
APPROVED!!!
I just got approved for the Citi Foward CC with a $3,000 limit.
I don't have any previous credit history, so those that need a first time card this is the way to go.
Thanks to those that helped me out.
Title: Re: Secured credit card help
Post by: Crazy tools on June 02, 2010, 03:47:02 PM
very nice, still don't know what to do, my friend got asked for a proof of income?? any ideas??
Title: Re: Secured credit card help
Post by: Deal Guy on June 02, 2010, 04:08:20 PM
APPROVED!!!
I just got approved for the Citi Foward CC with a $3,000 limit.
I don't have any previous credit history, so those that need a first time card this is the way to go.
Thanks to those that helped me out.

CONGRATULATIONS!
Title: Re: Secured credit card help
Post by: elikay on June 02, 2010, 04:34:20 PM
congrats!!
Title: Re: Secured credit card help
Post by: SuperFlyer on June 02, 2010, 04:46:40 PM
Mazel tov
Title: Re: Secured credit card help
Post by: Charles The Govenor on June 02, 2010, 04:56:01 PM
And 3k very nice.
Title: Re: Secured credit card help
Post by: Yellow on June 02, 2010, 06:02:50 PM
APPROVED!!!
I just got approved for the Citi Foward CC with a $3,000 limit.
I don't have any previous credit history, so those that need a first time card this is the way to go.
Thanks to those that helped me out.
yay! Enjoy
Title: Re: Secured credit card help
Post by: SuperFlyer on June 02, 2010, 06:41:05 PM
I got a visa gold with $2,500 limit being 16.
But that's just me.

In the usa I believe the hardest part is the first one, so Mazel Tops.
Title: Re: Secured credit card help
Post by: Crazy tools on June 02, 2010, 07:29:39 PM
wow aussie you must be doing something right, look how many well wishers you have!!!!
Title: Re: Secured credit card help
Post by: plane.love on June 02, 2010, 08:22:39 PM
When I was a young fledgling leaving the nest everyone was talking about a BOA secured student card.
Title: Re: Secured credit card help
Post by: aussiebochur on June 03, 2010, 07:15:24 AM
Thanks everyone!! It is very much appreciated. ;D
Title: Re: Secured credit card help
Post by: jack12 on June 03, 2010, 07:34:24 PM
I had major trouble getting my first. Lucky you!
Title: First credit card
Post by: lubaby on June 07, 2010, 10:23:35 PM
I'm looking to get my first credit card. What's a good one to sign up for?
Title: Re: First credit card
Post by: hocker on June 07, 2010, 10:35:03 PM
citi forward student card
Title: Re: First credit card
Post by: Crazy tools on June 07, 2010, 11:20:24 PM
lubaby, there is a search feature on this site. u can check there, the citi card was discussed (a few weeks ago)
Title: Re: First credit card
Post by: aussiebochur on June 08, 2010, 12:19:13 PM
Read this (http://www.dansdeals.com/forums/index.php?topic=2170.0).
Title: Re: First credit card
Post by: Crazy tools on June 08, 2010, 02:25:06 PM
thanks aussie I was waiting for you to post that type of link for this guy  :)
Title: Re: First credit card
Post by: ceejay on June 08, 2010, 02:29:33 PM
Isn't there an issue if you are under 21?
Title: Re: First credit card
Post by: Crazy tools on June 08, 2010, 02:40:58 PM
there may be you never know!!
what in the world are you reffering to, please explain. besides for the fact that the forward card is called the "citi bank STUDENT forward visa card"
Title: Re: First credit card
Post by: jack12 on June 08, 2010, 03:29:59 PM
Isn't there an issue if you are under 21?

No - you can get the Citi secure credit card if you are under 21
Title: Re: First credit card
Post by: lubaby on June 08, 2010, 04:48:52 PM
Thanks guys, I appreciate your help
Title: Re: Secured credit card help
Post by: titzy on June 10, 2010, 12:28:52 PM
Can I apply for a student card if I am not a student? If not, where can I start building my credit?
Title: Re: Secured credit card help
Post by: Avid Reader on June 10, 2010, 12:47:29 PM
Can I apply for a student card if I am not a student? If not, where can I start building my credit?

Did it with BoA years ago and was not in any real Yeshiva at the time (Shliach...). Just told them where I was learning, I think they asked for a phone # of the Shliach to verify (spoke to him first), got the card right away. Only prob. was the 800$ Credit limit, which is all they give even today to students. But looks like Citi is giving more.
Title: Re: Secured credit card help
Post by: Crazy tools on June 10, 2010, 01:25:37 PM
one of my friends got asked to send in a copy of a letter that he's a student, aussie & I didn't get asked that, it seems like thay ask everyone diff. questions.
just be prepared bec. they ask you for the school name (you can give a yeshiva) & they asked me my dorm phone # & who's name is on the bill, thay might have also asked me for the office #,

so do as you please, maybe you have a friend who's # u can give.......
Title: Re: Secured credit card help
Post by: Afight4ever on June 10, 2010, 01:58:05 PM
I dont know if this is helpful, but several friends of mine had it easy opening a checking account for 2-3 months and then applying for the bank issued CC as their first card. I personally did just that at 17 and worked out gr8 back then. I think if the bank sees that you have money going in and out with out being over drafted they would give you a small credit line to start off.
Title: Re: Secured credit card help
Post by: Avid Reader on June 10, 2010, 02:10:14 PM
I dont know if this is helpful, but several friends of mine had it easy opening a checking account for 2-3 months and then applying for the bank issued CC as their first card. I personally did just that at 17 and worked out gr8 back then. I think if the bank sees that you have money going in and out with out being over drafted they would give you a small credit line to start off.

Thanks for reminding me, As per Afight4ever, I was a customer with BoA for a few months when I asked for the card. They also wanted to know that I had some income and I told them I had from the Shliach (I think 400 a month)

Additionally, My brother who's in Yeshiva did the same thing about 2 years ago: Set up a student account with BoA and after few months he applied for their CC and got it ($800 CL). He did have a small amount of income going into the account.

Title: Re: Secured credit card help
Post by: robi on June 10, 2010, 02:31:38 PM
im a canadian studying here and dont have a ss no. is a student visa good enough? thanx!
Title: Re: Secured credit card help
Post by: farmerjoe on June 10, 2010, 03:07:02 PM
you can get a cc under 18 years old?
Title: Re: Secured credit card help
Post by: Dan on June 10, 2010, 03:08:08 PM
you can get a cc under 18 years old?
I've had one since I went away from home to high school at 13.
Title: Re: Secured credit card help
Post by: farmerjoe on June 10, 2010, 03:11:34 PM
i am 17 and have a Bank Of America checking account. should i apply for a BOA cc or the chase card mentioned before?
 
Title: Re: Secured credit card help
Post by: Avid Reader on June 10, 2010, 03:12:07 PM
I've had one since I went away from home to high school at 13.

How'd you do it? Pretty sure you didn't state your real age.
Title: Re: Secured credit card help
Post by: SuperFlyer on June 10, 2010, 03:21:33 PM
How'd you do it? Pretty sure you didn't state your real age.

maybe as an additional cardholder
Title: Re: Secured credit card help
Post by: Avid Reader on June 10, 2010, 03:24:53 PM
maybe as an additional cardholder

You still have to be 18, at least with AMEX. Something tells me Dan had his own card (did he once say he was building credit from 13?)
Title: Re: Secured credit card help
Post by: Crazy tools on June 10, 2010, 03:39:35 PM
about the credit card from a bank you have  checking acount with, I had a checking acount with BoA & soverigen (not to much $ in them) & tried to apply for the STUDENT cc with them & got denied!!
this was about 2 years ago, don't know if it changed.
I have a friend who just tried it & also got denied.
I would tell you to go with the citi card,  & don't tell them u make too much $$!!!
Title: Re: Secured credit card help
Post by: farmerjoe on June 10, 2010, 03:41:34 PM
but can i get the chase cc at age 17?
Title: Re: Secured credit card help
Post by: Crazy tools on June 10, 2010, 03:49:27 PM
farmerjoe you mean the citi card
no you have to be 18
Title: Re: Secured credit card help
Post by: Cholentfresser on June 10, 2010, 03:52:50 PM
Dan's been building credit from b4 18. his parents put him as an additional card holder. as long as u put down your social u also build credit. (there was once a scare that they would stop allowing u to build credit this way, but it never happened)
Title: Re: Secured credit card help
Post by: Avid Reader on June 10, 2010, 03:53:36 PM
farmerjoe you mean the citi card
no you have to be 18

aussiebochur is 17 and got approved. Ask him if he told his actual age.
Title: Re: Secured credit card help
Post by: Avid Reader on June 10, 2010, 03:59:12 PM
Dan's been building credit from b4 18. his parents put him as an additional card holder. as long as u put down your social u also build credit. (there was once a scare that they would stop allowing u to build credit this way, but it never happened)

Not sure what Dan did. I am sure that he has many Dan tricks of which he only tells us a portion of or they'd get abused and die. But other then that I tried getting a sibling as an authorized user and they told me I have to wait till they're 18
Title: Re: Secured credit card help
Post by: jack12 on June 10, 2010, 04:03:51 PM
Can I apply for a student card if I am not a student? If not, where can I start building my credit?

Citi let's you get a secure credit card that has nothing to do with being a student. You deposit the amount of money that you want your credit limit into a cd, and that's your monthly credit limit.
Title: Re: Secured credit card help
Post by: Crazy tools on June 10, 2010, 04:08:58 PM
where does reb aussie say that he's 17??
he wrote that he applied for a gap & macys card & got denied, for those cards u have to be a18.
Title: Re: Secured credit card help
Post by: Avid Reader on June 10, 2010, 04:15:04 PM
Your right. I think I got mixed up with someone else's post.
Title: Re: Secured credit card help
Post by: jack12 on June 10, 2010, 04:28:16 PM
about the credit card from a bank you have  checking acount with, I had a checking acount with BoA & soverigen (not to much $ in them) & tried to apply for the STUDENT cc with them & got denied!!
this was about 2 years ago, don't know if it changed.
I have a friend who just tried it & also got denied.
I would tell you to go with the citi card,  & don't tell them u make too much $$!!!

I had a account with capital one with a few thousand dollars in it and applied for the student card and got denied as well.

Go with the citi secure card
Title: Re: Secured credit card help
Post by: Crazy tools on June 10, 2010, 05:12:40 PM
another one of my friends just today got approved for the citi STUDENT forward card (NOT the secure card) it is his first cc, he got a $4000 credit limit, he said he makes $10,000 a year & has $5,000 in savings.
they just asked him what school he's in, they did not verify.
 he was an authorized user on his parents card, but I don't know how much that helps.

go with the student card I know 5 guys that got it for their first card!!

if ur not a student (& don't want to say u are) go to capitalone.com, they have credit cards for people with no credit, I don't know anyone that applied, so you may or may not get approved, but the card says its for people with no credit, ur credit line probably won't be more than $300.
Title: Re: Secured credit card help
Post by: Cholentfresser on June 10, 2010, 07:11:09 PM
if ur not a student (& don't want to say u are) go to capitalone.com, they have credit cards for people with no credit, I don't know anyone that applied, so you may or may not get approved, but the card says its for people with no credit, ur credit line probably won't be more than $300.
my brother got approved for a capital one card, he had no credit, it was his first card.
Title: Re: Secured credit card help
Post by: Crazy tools on June 10, 2010, 07:28:48 PM
actualy my first cc was with capital one with a limit of $300, but I got an offer in the mail, the card has a $40 a year fee.
but I didn't know that on the web site they offer the same card without the fee,
Title: Re: Secured credit card help
Post by: zalman123 on June 10, 2010, 07:45:55 PM
I know two people who got the capital one card as their first card one with the annual fee one without both with 300 limit after 6 months it went to 500
Title: Re: Secured credit card help
Post by: jack12 on July 07, 2010, 09:10:11 AM
How many months should a person with no precious credit, who is using a secure cc and paying on time monthly, wait to apply for a real cc?
Title: Credit cards for no credit history
Post by: NOOCH on August 16, 2010, 03:16:28 PM
Does anyone know of a credit card that is easy to get accepted, for someone with no history?
Title: Re: Credit cards for no credit history
Post by: AsherO on August 16, 2010, 03:38:31 PM
Does anyone know of a credit card that is easy to get accepted, for someone with no history?

You don't have a credit history?
Title: Re: Credit cards for no credit history
Post by: ChAiM'l on August 16, 2010, 03:44:47 PM
Does anyone know of a credit card that is easy to get accepted, for someone with no history?

First of all, welcome to the forums! Now, a piece of advice. If you take a look toward the top of the screen (to the right of the "Help" link) you'll see "Search". Use it. If you can't find anything that helps you, start a new thread.

As a favor to a new member, I searched for you, and came up with the following threads-

http://www.dansdeals.com/forums/index.php?topic=266.msg3515#msg3515 (http://www.dansdeals.com/forums/index.php?topic=266.msg3515#msg3515)

http://www.dansdeals.com/archives/2902 (http://www.dansdeals.com/archives/2902)

http://www.dansdeals.com/forums/index.php?topic=1101 (http://www.dansdeals.com/forums/index.php?topic=1101)

http://www.dansdeals.com/forums/index.php?topic=2170.0 (http://www.dansdeals.com/forums/index.php?topic=2170.0)

Good Luck!
Title: Re: Credit cards for no credit history
Post by: NOOCH on August 17, 2010, 09:13:50 AM
@ chaim'l - thanx
@ asher, yeah im new to this whole credit card thing, jk, my wife never had any credit
i ended up getting some capitalone card without an annual fee, as i read from what chaim'l suggested to get a card u will keep forever, so no annual fee works, btw capone has instant approval
Title: Re: First Credit Card
Post by: Emily on August 17, 2010, 09:52:17 AM
i read somewhere that the first credit card you get you should keep [and use atleast every six months] becouse its importent for your credit that you had a card for a long time, so you should ask yourself if a gap card is a card that you want to keep for the rest of your life? i think you would be better off with someting like the chase or any student card from a good company that has half decent rewards [ i got the "has us-bank student card" ] and then as dan says sign up to something like the starwood
Isn't American Express hard to get without good credit?
Title: Re: First Credit Card
Post by: Avid Reader on August 17, 2010, 10:39:23 AM
Isn't American Express hard to get without good credit?
Yes it's hard to get without some pre' established credit. I just so happened to get mine when I had No CC's open and a very brief (3 mo.) credit history from the year before. But that was years ago.
Title: Re: First Credit Card
Post by: Emily on August 17, 2010, 11:14:51 AM
Yes it's hard to get without some pre' established credit. I just so happened to get mine when I had No CC's open and a very brief (3 mo.) credit history from the year before. But that was years ago.
no i have a cc for a year... capital one, brooks brothers, macys... but others turned me down... wondering about this one
Title: Re: First Credit Card
Post by: elikay on August 17, 2010, 12:16:22 PM
Amex has been giving people a hard time lately.
Title: Re: First Credit Card
Post by: SuperFlyer on August 17, 2010, 12:31:20 PM
Amex has been giving people a hard time lately.
on international basis.
Title: Re: Credit cards for no credit history
Post by: AsherO on August 17, 2010, 01:05:48 PM
@ chaim'l - thanx
@ asher, yeah im new to this whole credit card thing, jk, my wife never had any credit
i ended up getting some capitalone card without an annual fee, as i read from what chaim'l suggested to get a card u will keep forever, so no annual fee works, btw capone has instant approval

So Mrs. Nooch was immediately approved?

P.s. The name is AsherO.
Title: Re: Credit cards for no credit history
Post by: ChAiM'l on August 17, 2010, 02:43:41 PM
So Mrs. Nooch was immediately approved?

P.s. The name is AsherO.
"The name is O, AsherO....." [insert appropriate Bond music]
Title: Re: Credit cards for no credit history
Post by: AsherO on August 17, 2010, 03:48:14 PM
nullThe name is O, AsherO.....null [insert appropriate Bond music]

Cute, but I'm not that cool.
Title: Re: First Credit Card
Post by: txtmax4 on August 17, 2010, 04:27:31 PM
i read somewhere that the first credit card you get you should keep [and use atleast every six months] becouse its importent for your credit that you had a card for a long time, so you should ask yourself if a gap card is a card that you want to keep for the rest of your life?
I got a Macy's card more than ten years ago, used it once.
It's somewhere in a drawer and it's still in my credit report. Doesn't bother me there...
Title: Re: First Credit Card
Post by: txtmax4 on August 17, 2010, 04:29:00 PM
i opened a bank of america student card 6 months ago and applied a few times (about 3) for other cards and was denied. Any ideas why? Is it b/c ive been using most of my credit limit?
Remember which cards they were?
And how is that going two years down the line?
Title: Re: First Credit Card
Post by: txtmax4 on August 17, 2010, 04:31:55 PM
no i have a cc for a year... capital one, brooks brothers, macys... but others turned me down... wondering about this one
These are though times in the credit world but YMMV.
Title: Re: Credit cards for no credit history
Post by: NOOCH on August 18, 2010, 09:18:55 AM
the name is Usher, so when can my wife start playing the credit card game
Title: Re: First Credit Card
Post by: Dan on August 18, 2010, 11:33:21 AM
Here is a Discover Student Card (no annual fee with 5% reward categories and no interest on purchases for 6 months) (http://www.dansdeals.com/go/Discstu/) that should be easier to get than other credit cards.
Title: Re: First Credit Card
Post by: Deal Guy on August 18, 2010, 03:03:42 PM
Here is a Discover Student Card (no annual fee with 5% reward categories and no interest on purchases for 6 months) (http://www.dansdeals.com/go/Discstu/) that should be easier to get than other credit cards.
Why should it be easier than any other student card?
Title: Re: First Credit Card
Post by: Dan on August 18, 2010, 03:10:54 PM
Why should it be easier than any other student card?
I didn't say it would be.
Title: Re: First Credit Card
Post by: txtmax4 on August 18, 2010, 03:56:35 PM
Why should it be easier than any other student card?
He meant easier than non-student account and a good offer.
Title: Re: First Credit Card
Post by: Emily on August 19, 2010, 08:48:43 AM
Can you please post another link for a free way to get my credit score?
Title: Re: First Credit Card
Post by: Yellow on August 19, 2010, 12:25:16 PM
Can you please post another link for a free way to get my credit score?

to get a free credit score i signed up for citi identity monitor where they allow you to see your credit score/report AND speak to CSR's who can answer questions you might have. I think it's $12.95 but you get a free month trial so if you cancel within 1st month you get your money back
There are other ways to get it free but i liked being able to speak to a CSR who answered my questions
http://www.identitymonitor.citi.com/
Title: Re: First Credit Card
Post by: txtmax4 on August 19, 2010, 03:43:47 PM
Can you please post another link for a free way to get my credit score?
If you want you REAL score, the one credit card companies base their decisions on, then go to myfico.com where you can view one of your credit reports and score once for free (30 day free trial, you can set it up to auto-cancel the subscription before it rolls into a second month).
You can also view your credit report at quizzle.com where they also give you a score, but that's a FACO score.
I personally think Quizzle is the best free site for credit education and help.
Title: Re: First Credit Card
Post by: Dan on August 19, 2010, 04:15:36 PM
If you want you REAL score, the one credit card companies base their decisions on, then go to myfico.com where you can view one of your credit reports and score once for free (30 day free trial, you can set it up to auto-cancel the subscription before it rolls into a second month).
You can also view your credit report at quizzle.com where they also give you a score, but that's a FACO score.
I personally think Quizzle is the best free site for credit education and help.
Which package on myfico has a free trial that lets you see your score?
Title: Re: First Credit Card
Post by: txtmax4 on August 19, 2010, 04:40:50 PM
Which package on myfico has a free trial that lets you see your score?
You are correct.
FICO has 30-day free trial giveaways every so often, and currently they are not offering it but you can follow them on Twitter to find out when the next one will be. Be on the lookout.
The reason why I carelessly wrote that you can check it once for free was because at the time i got my free trial, it was an open offer without expiration date or limit to a certain amount of people (ex. first 10.000 responders). I just did some research and see what you are saying.

Interestingly enough, I had two 30-day free trials. The first one was about 10 years ago when I barely knew what a credit score was, just got an email offer and went for it stam.
About a year and a half ago, I decided to check it and when I tried to register for the free trial, the system was giving me a message saying I already used up my trial offer, and that's when I remembered about 10 yrs ago... So I called them and told them that 10 yrs ago I had no clue what I was looking at and they opened it up for me once more... The end.
Title: Re: First Credit Card
Post by: Emily on August 20, 2010, 12:44:06 PM
Should I spend a $1 and get my credit score from Experian? or it's a waste?
Title: Re: First Credit Card
Post by: txtmax4 on August 20, 2010, 02:30:07 PM
Should I spend a $1 and get my credit score from Experian? or it's a waste?
You have the right to see all three reports for free once every year.
Log on to www.AnnualCreditReport.com
Do NOT get it from freecreditreport dot com.
Title: Re: First Credit Card
Post by: AsherO on August 23, 2010, 09:30:40 AM
You have the right to see all three reports for free once every year.
Log on to www.AnnualCreditReport.com
Do NOT get it from freecreditreport dot com.

I don't think this comes with a score.
Title: Re: First Credit Card
Post by: txtmax4 on August 23, 2010, 09:17:53 PM
I don't think this comes with a score.
What good is a score if it isn't a FICO score?
Title: Re: First Credit Card
Post by: AsherO on August 24, 2010, 11:26:12 AM
What good is a score if it isn't a FICO score?

Precisely my point. The person was asking about a score and you referred them to a site where they don't get one.
Title: Re: First Credit Card
Post by: txtmax4 on August 24, 2010, 06:40:16 PM
Precisely my point. The person was asking about a score and you referred them to a site where they don't get one.
My bad ;D
Title: First Credit Card
Post by: jayny on November 04, 2010, 03:11:29 PM
I want to get my own Credit Card for the first time. I think I have a pretty good Credit Score (since I am a cardholder with my fathers credit card). Whats the best card for me to get, in order to A) build up my credit score B) nice benefits for opening up the card.
Please note: Rewards Cards don't really matter since I don't plan on spending a lot on the card. But I don't mind a Visa Signature, MasterCard World ... etc.
 
Title: Re: First Credit Card
Post by: Cholentfresser on November 04, 2010, 07:15:59 PM
Firstly, welcome to the forums!
the best way to find answers to your questions is by doing a search first. If u don't find anything, then u start a new thread.
your question about a first CC has been discussed many many times.

some of the answers that were given were: getting either a Macys, old navy, banana etc. card. they are the easiest to get approved for.
there is also the secure card from B of A and Citi. those are all if u are trying to build your credit.
If u think u already have a good credit then go to dansdeals.com/cards for the list of cards with their details.
Good Luck!
Title: Re: First Credit Card
Post by: HSS on November 09, 2010, 01:12:41 AM
I honestly got the Amazon VISA Card as my first card and assuming that you just have zero credit and not negative credit for some reason, I would recommend singing up for that and get your $30 or whatever it is off your purchase.  I dont know of anyone who has gotten denied for the Amazon Visa card personally, and know a bunch of people who all tell me that it was also their first card.

Another thing that you have to be sure to keep in mind is that you probably do not want to close the first card you open, so make sure that whatever card you choose to get is an annual fee free card because this way even if later you get a better card that gives you more rewards then you still can just keep this one open and just leave it unused.

Also I recommend that assuming you are fiscally responsible to just use your credit card for all the purchases that you can and sign up for autopay to automatically deduct the balance in full from your checking account.  I basically look at my credit card as a debit card with better rewards and never spend more money than I know that I have in my checking account.  Obviously it is a little harder because the money does not come out immediately like a debit card, but assuming you are responsible you can keep track of how much you have spent and make sure that when the autopay pulls the money from your account there is always enough money.  This way you never have to worry about missing a payment and you never have to pay a cc bill (for the most part).  I swear by autopay and sign up each of my new cards for it as soon as I get them!

Anyone disagree with any of this?
Title: Re: First Credit Card
Post by: Dan on November 09, 2010, 01:16:54 AM
I wouldn't waste a Chase approval on $30 back from Amazon when they have much better cards out there.

My first card was from Gap, so I'm somewhat partial to starting off with something like that.
Title: Re: First Credit Card
Post by: HSS on November 09, 2010, 01:25:14 AM
I wouldn't waste a Chase approval on $30 back from Amazon when they have much better cards out there.

My first card was from Gap, so I'm somewhat partial to starting off with something like that.


Dan,

What do you mean by wasting a Chase approval?  I would think that if you get a small card from them and use it properly for a year or so they would be more likely to approve you later for a better card.  Is this not the case?  I have had 4 cards with chase all after I started with my Amazon Visa and all for great promos:

1. Amazon Visa - $30 (my first card)
2. Chase Freedom - $250
3. Chase Sapphire - $250
4. British Airways - 100k miles
5. Chase Ink Biz - $300 (Just applied for this last week and got approved tonight - see my thread about the offer in cc forum)

And all of this has been since 2005.

HSS
Title: Re: First Credit Card
Post by: hocker on November 10, 2010, 12:49:12 AM
i personally got the Citi Forward student card as my first and got approved immediately for $2500. I have many friends who also got approved by Citi Forward as their first card.
Title: Re: First Credit Card
Post by: smurf on December 28, 2010, 06:23:54 PM
The chase amazon was my first too. I got approved when I was about 18 with almost no credit history.I asked chase if they could switch it but they said no.
The rewards are pretty lousy 1 ppd and each point being worth $.01 with occasional categorized ppd bonuses.
Although with all the great deals on amazon(pampers...) i find myself shopping there more and more and the cards  3 ppd is not so bad its like getting an additional %3 percent off.
Title: Re: First Credit Card
Post by: zakdude on December 29, 2010, 05:06:39 AM
bank of america student
Title: Re: HELP!!! HOW DO U BUILD UP UR CREDIT??!!
Post by: Monsey on January 02, 2011, 10:47:32 PM
Yup do that and try to get a store card, like at Gap, to build up your credit before applying for a real credit card.
An old topic but a friend of mine asked me to find out if he applies for the macys visa card or the macys charge card which can only be used in macys? In other words is the macys visa also easy to get with just a good credit score but no real history?
Title: Re: HELP!!! HOW DO U BUILD UP UR CREDIT??!!
Post by: AsherO on January 02, 2011, 10:48:58 PM
An old topic but a friend of mine asked me to find out if he applies for the macys visa card or the macys charge card which can only be used in macys? In other words is the macys visa also easy to get with just a good credit score but no real history?

I'd say the charge card is definitely easier than the regular visa card.
Title: Re: HELP!!! HOW DO U BUILD UP UR CREDIT??!!
Post by: Monsey on January 03, 2011, 01:28:19 AM
Its definately easier to get then the visa but do you know if when dan writes to get a store card does he mean the store charge card or the store branded major credit card (visa,mc)
Title: Re: HELP!!! HOW DO U BUILD UP UR CREDIT??!!
Post by: Dan on January 03, 2011, 05:51:26 AM
Its definately easier to get then the visa but do you know if when dan writes to get a store card does he mean the store charge card or the store branded major credit card (visa,mc)
Charge card.
Title: Re: HELP!!! HOW DO U BUILD UP UR CREDIT??!!
Post by: MnM1130 on January 03, 2011, 05:55:13 AM
My husband had a hard time getting any credit cards becuase hes from out of the country and never had and any credit cards here to had no credit. I had tried applying for cards for him but noone would accept him. so we tried a student card i think by citi- where you need no credit to get. anyhow long sotry short he never used that card but the next thing i did a yr later was add him to my starwood amex card- and after spending money on there and paying and so on a few months later (like 4 months) he pretty much gets approved for every card. so i guess as a second card holder theres some benefits regardless of the ss number.
Title: Re: HELP!!! HOW DO U BUILD UP UR CREDIT??!!
Post by: yare on January 03, 2011, 06:06:38 AM
even without ss number they find you (somehow or another) and put it on your credit report as a "new account opened".   if you can you should try adding yourself to an amex of your parents, i believe amex looks at all accounts from the time of the earliest account opened with them, so if you open future cards with them the credit history on the new card will reflect that of your oldest account with them ie the au account
Title: Re: HELP!!! HOW DO U BUILD UP UR CREDIT??!!
Post by: mancunian on January 17, 2011, 10:09:28 PM
the kuntz is finding out which applications & which cards will apply you for both the branded and the store cards in one app. i remember theres a difference in store or online for some cards. meaning, you apply once and either get approved for the visa/mc or just the charge card, but your not ONLY applying for the charge card
Title: Re: HELP!!! HOW DO U BUILD UP UR CREDIT??!!
Post by: AsherO on January 18, 2011, 12:23:38 AM
the kuntz is finding out which applications & which cards will apply you for both the branded and the store cards in one app. i remember theres a difference in store or online for some cards. meaning, you apply once and either get approved for the visa/mc or just the charge card, but your not ONLY applying for the charge card

That's actually a great idea.
Title: Re: HELP!!! HOW DO U BUILD UP UR CREDIT??!!
Post by: smurf on January 18, 2011, 12:31:15 AM
the kuntz is finding out which applications & which cards will apply you for both the branded and the store cards in one app. i remember theres a difference in store or online for some cards. meaning, you apply once and either get approved for the visa/mc or just the charge card, but your not ONLY applying for the charge card
With the bloomingdales card you actually get both accounts.the store charge for when you shop in bloomingdales and the amex for everywhere else.
Title: Re: HELP!!! HOW DO U BUILD UP UR CREDIT??!!
Post by: AsherO on January 18, 2011, 12:33:47 AM
With the bloomingdales card you actually get both accounts.the store charge for when you shop in bloomingdales and the amex for everywhere else.

Can you get approved for just the charge card or is it all or nothing? Mancunian's whole point is that you get two chances with one application.
Title: Re: HELP!!! HOW DO U BUILD UP UR CREDIT??!!
Post by: Yellow on January 18, 2011, 01:11:04 AM
Hey, dont worry
I was just in your shoes not long ago, and the KEY is paying off the credit cards that you have on time, and using less than 10% of the balance.
Also credit history is important, so just wait a few months and you will prbably be in better shape.
If you dont already have a card than as dan says get yourself a GAP card, and just keep consistently paying it off on time.
I was in your shoes a year ago, and now i have such good credit (and i got approved for some awesome cards: amex plat, starwoods, citi cards etc.)
Title: Re: HELP!!! HOW DO U BUILD UP UR CREDIT??!!
Post by: AsherO on January 18, 2011, 01:14:22 AM
Hey, dont worry
I was just in your shoes not long ago, and the KEY is paying off the credit cards that you have on time, and using less than 10% of the balance.
Also credit history is important, so just wait a few months and you will prbably be in better shape.
If you dont already have a card than as dan says get yourself a GAP card, and just keep consistently paying it off on time.
I was in your shoes a year ago, and now i have such good credit (and i got approved for some awesome cards: amex plat, starwoods, citi cards etc.)

(http://www.emotihost.com/thumbs/2.gif)

Title: Re: HELP!!! HOW DO U BUILD UP UR CREDIT??!!
Post by: Yellow on January 18, 2011, 01:29:33 AM
(http://www.emotihost.com/thumbs/2.gif)


cool i got a thumbs up from AsherO
:)
Title: Re: HELP!!! HOW DO U BUILD UP UR CREDIT??!!
Post by: AsherO on January 18, 2011, 01:33:15 AM
cool i got a thumbs up from AsherO
:)

Finally someone attesting to what I always tell people, if you are patient and you play your cards right (no pun intended :D ) then you can build your credit up pretty quickly.
Title: Re: HELP!!! HOW DO U BUILD UP UR CREDIT??!!
Post by: Dan on January 18, 2011, 09:28:59 AM
Finally someone attesting to what I always tell people, if you are patient and you play your cards right (no pun intended :D ) then you can build your credit up pretty quickly.
+1,000.
Title: Re: HELP!!! HOW DO U BUILD UP UR CREDIT??!!
Post by: Avid Reader on January 18, 2011, 11:12:36 AM
the kuntz is finding out which applications & which cards will apply you for both the branded and the store cards in one app. i remember theres a difference in store or online for some cards. meaning, you apply once and either get approved for the visa/mc or just the charge card, but your not ONLY applying for the charge card

Macy's application are one for both.
Title: Re: HELP!!! HOW DO U BUILD UP UR CREDIT??!!
Post by: Avid Reader on January 18, 2011, 11:14:11 AM
Can you get approved for just the charge card or is it all or nothing? Mancunian's whole point is that you get two chances with one application.

Either just the charge card or if you qualify you get both.
Title: Re: HELP!!! HOW DO U BUILD UP UR CREDIT??!!
Post by: mancunian on January 18, 2011, 02:13:03 PM
With the bloomingdales card you actually get both accounts.the store charge for when you shop in bloomingdales and the amex for everywhere else.
how does that show up on your credit report - as one line or as 2?
Title: Re: HELP!!! HOW DO U BUILD UP UR CREDIT??!!
Post by: smurf on January 18, 2011, 02:20:01 PM
how does that show up on your credit report - as one line or as 2?
2 separate credit lines
Title: Re: HELP!!! HOW DO U BUILD UP UR CREDIT??!!
Post by: mancunian on January 18, 2011, 02:57:31 PM
well i did some quick reading on the bloomingdales topic and it seems 1. they don't report either credit line (can you confirm?) 2. without a 700 experian score you for sure wont get more than a store card 3. the application considers you for both lines individually
Title: Re: HELP!!! HOW DO U BUILD UP UR CREDIT??!!
Post by: smurf on January 18, 2011, 04:00:13 PM
I know someone with the bloomingdales card.I saw their credit report,there was an entry for bloomingdales/dsnb and another for visa. That doesn't seem to have changed now that they are with amex.
http://www1.bloomingdales.com/service/faq/index.jsp#credit_bureaus
Title: Re: HELP!!! HOW DO U BUILD UP UR CREDIT??!!
Post by: mancunian on January 18, 2011, 04:04:26 PM
sorry meant credit limit not credit line (as to not being reported)
Title: Re: HELP!!! HOW DO U BUILD UP UR CREDIT??!!
Post by: smurf on January 18, 2011, 04:21:13 PM
you're right seems like they only report one limit. the store card says na
Title: Re: HELP!!! HOW DO U BUILD UP UR CREDIT??!!
Post by: miles on January 23, 2011, 12:39:51 PM
how is now the best way to get a first card
Title: Re: HELP!!! HOW DO U BUILD UP UR CREDIT??!!
Post by: Esther on January 25, 2011, 03:50:19 PM
I also just got denied for the same reason. I've had a Macy's card for a while. I barely use it but when I did everything was paid on time. I'm gonna try the joint account holder thing though. Hopefully that will work.
Title: Re: HELP!!! HOW DO U BUILD UP UR CREDIT??!!
Post by: Yellow on January 25, 2011, 04:28:22 PM
I also just got denied for the same reason. I've had a Macy's card for a while. I barely use it but when I did everything was paid on time. I'm gonna try the joint account holder thing though. Hopefully that will work.
Just make sure you join accounts with someone who has good credit
Title: best first credit card
Post by: farmerjoe on February 13, 2011, 03:29:59 AM
hi i am 18 and looking to apply for my first credit card now,what would be the best first cc to get to start building a good credit score, i currently have a checking account with BOA. thanks
Title: Re: best first credit card
Post by: daganster on February 13, 2011, 07:32:20 AM
Apply for a card with CapitalOne they're very easy.
Title: Re: best first credit card
Post by: Dan on February 13, 2011, 11:22:35 AM
A store card is usually easiest, like from Gap.
Title: Re: best first credit card
Post by: Bh101 on February 13, 2011, 02:44:07 PM
student cards are perfect for someone ur age starting off.
Title: Re: best first credit card
Post by: how on February 13, 2011, 03:59:53 PM
Apply for a card with CapitalOne they're very easy.
but with a very low credit line and they probably will only give you a card with an annual fee
Title: Re: best first credit card
Post by: daastorah on February 13, 2011, 04:06:02 PM
but with a very low credit line and they probably will only give you a card with an annual fee
I got my first card with them, there is no annual fee just a high APR so if u pay on time your fine, and cashback rewards.
Title: Re: best first credit card
Post by: daastorah on February 14, 2011, 01:04:14 AM
A store card is usually easiest, like from Gap.
do you have to buy something in GAP once a month to build credit, or could these store cards be used anywear else?
Title: Re: best first credit card
Post by: Dan on February 14, 2011, 01:21:46 AM
do you have to buy something in GAP once a month to build credit, or could these store cards be used anywear else?
Generally they're only good in that store.  And buying a small item once a month (even a $1 GC) would be a good idea.  Just remember to pay it off on time!
Title: Re: best first credit card
Post by: AsherO on February 14, 2011, 02:16:10 AM
Generally they're only good in that store.  And buying a small item once a month (even a $1 GC) would be a good idea.  Just remember to pay it off on time!

You can use it at other GAP Inc. brands such as Old Navy, Banana Republic, Piperlime etc.
Title: Re: best first credit card
Post by: hocker on February 14, 2011, 03:43:05 AM
I got my first card with them, there is no annual fee just a high APR so if u pay on time your fine, and cashback rewards.
after the first year they DO charge you a $39 annual fee which they don`t waive for no money. Closing it also isn`t an option because of your credit history years.
Title: Re: best first credit card
Post by: daastorah on February 14, 2011, 01:43:33 PM
after the first year they DO charge you a $39 annual fee which they don`t waive for no money. Closing it also isn`t an option because of your credit history years.
on there website they have a student card called journeySM student rewards, meant to build credit with no annual fee.
Title: Re: best first credit card
Post by: mords on February 14, 2011, 02:27:14 PM
My wife was applying for her first credit card and kept on getting denied so if that happens apply for the secured card from capital one which is what we needed to do. Six months later my wife was approved for the chase one passplus.
Title: Re: best first credit card
Post by: mancunian on February 15, 2011, 12:40:19 AM
why davka capital one, citi also has a secured card
Title: Re: best first credit card
Post by: Crazy tools on February 17, 2011, 04:48:49 AM
Try the citi student forward card they usually approve with a nice credit line ($1,800) I have a couple of friends that recently got approved.
Title: Re: best first credit card
Post by: farmerjoe on February 17, 2011, 05:43:56 AM
Try the citi student forward card they usually approve with a nice credit line ($1,800) I have a couple of friends that recently got approved.
whats the advantage of the citi card, over the  capital one card?
Title: Re: best first credit card
Post by: hocker on February 17, 2011, 09:15:24 AM
Citi gives you an unsecured credit line of 1500+ dollars, while capitol1 will only give you $300 secured (generally speaking).
Title: Re: best first credit card
Post by: elikay on February 17, 2011, 11:29:36 AM
unsecured on top of the secured?
Title: Re: best first credit card
Post by: farmerjoe on February 17, 2011, 12:27:00 PM
does the citi card have a annual fee? if the credit limit is not a issue which card would you say is a better choice?
Title: Re: best first credit card
Post by: hocker on February 17, 2011, 01:03:13 PM
unsecured on top of the secured?
would you mind explaining? I wrote that they give you unsecured credit.
Title: Re: best first credit card
Post by: mords on February 18, 2011, 02:05:49 PM
It seems like we are talking about two different things. To make it clear I was suggesting that if you have trouble with getting approved for regular unsecured credit cards like my wife then you forsure can get approved for the capital one secured credit card which has a $25 annual fee and reports to the three major credit beauros also side perk no foreign transaction fee. As I said 6 months later my wife got a regular unsecured card.
Title: Re: best first credit card
Post by: hocker on February 19, 2011, 09:10:11 PM
we're both trying to help the OP. I suggested he apply for the Citi Student Forward card as they usually approve people without any history. You suggested he apply for Capitol One, which has an annual fee and is secured. My suggestion is unsecured without an annual fee with 12k opening bonus. Now i`m asking you what`s the OP`s BEST option?
Title: best first credit card
Post by: Cbs on February 20, 2011, 04:04:24 AM
You suggested he apply for Capitol One, which has an annual fee and is secured.

Capital one has a nonsecure student credit card called "journey" and it has no annual fee and they gave me $300 credit with no credit history.
Title: Re: best first credit card
Post by: mancunian on February 20, 2011, 10:07:54 PM
whats the advantage of the citi card, over the  capital one card?
a. an internal history with citi
b. i don't know if capitol one is as good for your credit as citi
Title: Re: best first credit card
Post by: intgesh on April 17, 2011, 02:05:39 PM
OK i know this has been quiet for awhile but this is my first time posting something
if anyone can help me ive been denied 3 times from capital one and would just like to move forward with something.
also im afraid these denials will come up on my credit line.
is there a sure-fire way of getting approved to something???
Title: Re: best first credit card
Post by: hocker on April 17, 2011, 02:07:53 PM
I commend you for not starting another thread on this topic, as there are so many of them already.

Dan always advises signing up for the Store cards i.e. Gap Macy`s etc.
Title: Re: best first credit card
Post by: intgesh on April 17, 2011, 02:23:35 PM
its sure fire?
Title: Re: best first credit card
Post by: farmerjoe on April 17, 2011, 02:36:07 PM
or just start with a secured card
Title: Re: best first credit card
Post by: myb821 on April 17, 2011, 03:57:33 PM
To put my input I know citibank counts credit u r an au on as ur own. My wife who chase wouldn't approve cause of no credit citi bank gave a 5k credit line cause they count my cards which she is an au on as her own.
Title: Re: best first credit card
Post by: Dan on April 17, 2011, 04:36:38 PM
OK i know this has been quiet for awhile but this is my first time posting something
if anyone can help me ive been denied 3 times from capital one and would just like to move forward with something.
also im afraid these denials will come up on my credit line.
is there a sure-fire way of getting approved to something???
Denied 3 times for Cap1...that's sure to cause issues with your credit.  That's 9 hard credit pulls!
Title: Re: best first credit card
Post by: jack12 on April 18, 2011, 12:11:20 AM
or just start with a secured card

+1
Title: Re: best first credit card
Post by: azhoopsfan on April 18, 2011, 01:03:19 PM
I have always heard the best way to increase your score is to carry a balance on any credit card (even a small balance) rather than pay it off in full every month.  So, if you have a high APR, pay the balance minus $10, which will carry over to the next month (but make sure you pay no less than the minimum payment). 

Supposedly, if you have very little credit and you always pay it off in full it will take a long time to build a good score. 

Anyone confirm this? 
Title: Re: best first credit card
Post by: Jkhein on April 24, 2011, 12:13:30 PM
Wifes got the same problem, coz she apparantly has "no credit file". Can anyone confirm on the post one before mine about leaving some outstanding balance.
Also, is it true that adding her as an additional to my cards, would help her credit? What does no credit file mean? She has a bank account on her name!
Title: Re: best first credit card
Post by: Dan on April 24, 2011, 12:21:26 PM
I don't think the OP is correct.  Your balance is typically reported when the statement closes, so paying it off in full will not make any difference unless you are always paying off your entire bill before the statement even closes.

A bank account, even if it had $1M in it, will not help your credit file.

Adding her onto a good card will help.
Title: Re: best first credit card
Post by: Saver2000 on April 24, 2011, 12:38:52 PM
I don't think the OP is correct.  Your balance is typically reported when the statement closes, so paying it off in full will not make any difference unless you are always paying off your entire bill before the statement even closes.

Adding her onto a good card will help.

+1
it has nothing to with carrying a balance. It has to do with the reporting. With 2 of my cards, I pretty much max out every month but I make sure to pay it down before the statement closing dateand the credit buerus dont know about that way, bec the cc company reports the statement balance.
Title: Re: best first credit card
Post by: Saver2000 on April 24, 2011, 12:45:33 PM
Wifes got the same problem, coz she apparantly has "no credit file". Can anyone confirm on the post one before mine about leaving some outstanding balance.
Also, is it true that adding her as an additional to my cards, would help her credit? What does no credit file mean? She has a bank account on her name!

If you have good credit then you should  add on to your card but make sure to.tell them to add.her.ss.to the.account as well - if she is just added as an autherized user without ss it wont reflect on her credit report.
Title: Re: best first credit card
Post by: dans fan on May 04, 2011, 10:49:40 PM
1) i need advice i have a credit score around 750 but never had my own cc i have just been an au on other acc. i applied about 6 mon ago for the chase and citi got denied due to limited or not enough credit history i since then been added to more citi acc. as a au are my chances much better now that i should apply for one of the citi promo i dont want to apply for a card and get denied (if my chances are slim i would go with a first time cc route                                                                                             2)i find that come cc pretty much rely on an internal check (evan if credit report is limited) can anyone verify this                                                                                                                                                3)if the above is correct (and they rely on eternal)witch would be the best bet amex citi or chase
Title: Re: best first credit card
Post by: myb821 on May 04, 2011, 10:58:00 PM
1) i need advice i have a credit score around 750 but never had my own cc i have just been an au on other acc. i applied about 6 mon ago for the chase and citi got denied due to limited or not enough credit history i since then been added to more citi acc. as a au are my chances much better now that i should apply for one of the citi promo i dont want to apply for a card and get denied (if my chances are slim i would go with a first time cc route                                                                                             2)i find that come cc pretty much rely on an internal check (evan if credit report is limited) can anyone verify this                                                                                                                                                3)if the above is correct (and they rely on eternal)witch would be the best bet amex citi or chase
the only advice i have is i know Chase doesnt count AU's towards your credit so dont apply to them. Citi on the other hand i know does count towards your credit so u will have a better chance with them.
Title: Re: best first credit card
Post by: dans fan on May 04, 2011, 11:03:41 PM
the only advice i have is i know Chase doesnt count AU's towards your credit so dont apply to them. Citi on the other hand i know does count towards your credit so u will have a better chance with them.
ty 
1) i need advice i have a credit score around 750 but never had my own cc i have just been an au on other acc. i applied about 6 mon ago for the chase and citi got denied due to limited or not enough credit history i since then been added to more citi acc. as a au are my chances much better now that i should apply for one of the citi promo i dont want to apply for a card and get denied (if my chances are slim i would go with a first time cc route                                                                                             2)i find that come cc pretty much rely on an internal check (evan if credit report is limited) can anyone verify this                                                                                                                                                3)if the above is correct (and they rely on eternal)witch would be the best bet amex citi or chase
anyone else with input
Title: Re: best first credit card
Post by: AsherO on May 05, 2011, 01:49:06 AM
ty  anyone else with input

Your post makes me dizzy. Can you please have a mod fix it or repost it aligned?
Title: First CC question...
Post by: MnM1130 on July 06, 2011, 12:22:25 AM
My brother has no cc's. He has some although as an AU under my name for a few years already. When i tried to apply him for a card a few months back he was denied a cc cus of low credit. Anyhow to make a short story even shorter- he just got a cc offer in the mail- capital one platinum card no benefits no fee, nothin interesting. Should i just get him that card cus hes pre-approved or should i try to get him another cc that has a good promotion thats goin on now.
thanks in advance for your input.
Title: Re: First CC question...
Post by: Dan on July 06, 2011, 12:31:14 AM
No such thing as pre-approved, he might get 3 credit hits from that evil bank with nothing to show for it.
Start with a GAP store card or a secured card.
Title: Re: First CC question...
Post by: Smokey Joe Robinson on July 06, 2011, 12:33:15 AM
No such thing as pre-approved, he might get 3 credit hits from that evil bank with nothing to show for it.
Start with a GAP store card or a secured card.
why do I remember seeing somewhere that pre-approved does exist? Am I imagining it?
Title: Re: First CC question...
Post by: MnM1130 on July 06, 2011, 12:42:21 AM
so why does it say on the form that its pre-approved? and what does it mean than? i told him to start with cc from gap but since this came up i figured its a good jump. but i didnt do anything about it yet i was first gina find out if it was a good idea...
Title: Re: First CC question...
Post by: Bp on July 06, 2011, 12:48:04 AM
@MnM1130:
Just add your brother as a joint account holder to your oldest chase card(chase let's you add a joint account holder without any credit)
Title: Re: First CC question...
Post by: MnM1130 on July 06, 2011, 12:53:06 AM
Quote
Just add your brother as a joint account holder to your oldest chase card(chase let's you add a joint account holder without any credit)
.

my oldest chase card is about 4 months old.
but how does that work... just call up and add myself or s/o on a relatives account- and boom they have credit for 70 years already?
Title: Re: First CC question...
Post by: BAHayman on July 06, 2011, 01:48:50 AM
.

my oldest chase card is about 4 months old.
but how does that work... just call up and add myself or s/o on a relatives account- and boom they have credit for 70 years already?

thats how it worked for me with citi, i added myself as an au on my dads card and then had 20 years of credit history, the problem it caused tho was that now my total credit was like twice my total income so they wouldnt approve me for any cards, ended up removing myself as an au :(
Title: Re: First CC question...
Post by: smurf on July 06, 2011, 02:08:27 AM
why do I remember seeing somewhere that pre-approved does exist? Am I imagining it?
I just got a pre-selected offer from bofa. On the back it defined pre-selected as a promise to offer credit if I had enough income and good credit. So basically they'll still do a pull and they can still decline you if you don't have credit.
Title: Re: First CC question...
Post by: Cholentfresser on July 06, 2011, 02:15:19 AM
but is pre-selected and pre-approved, the same thing?
Title: Re: First CC question...
Post by: myb821 on July 06, 2011, 07:05:58 AM
Apply for a citi bank card for him. Citibank counts au accounts as ur own credit so if he is an au on ur accounts good chance citi will approve him
Title: Re: First CC question...
Post by: elikay on July 06, 2011, 08:47:00 AM
AU increase the chances of approval, but piggybacking doesn't help the way it used to. Try searching the forums for piggybacking (I think that's the term discussed).
Title: Re: First CC question...
Post by: myb821 on July 06, 2011, 08:54:39 AM
Except for citibank which counts au's as ur own cards
Title: Re: First CC question...
Post by: Smokey Joe Robinson on July 06, 2011, 11:02:18 AM
but is pre-selected and pre-approved, the same thing?
Im almost 100% sure that I read about pre-approved vs pre-selected somewhere he on ddf recently. S.o mentioned that pre-approved by law they have to approve you, while pre-selected is bs like smurf said. I dont remember where I saw this though.
Title: Re: First CC question...
Post by: Bp on July 06, 2011, 11:05:31 AM
Except for citibank which counts au's as ur own cards
So myb821,  are you sure that piggybacking still works for a AU with Citi?  Ive done it with chase multiple times to add s/o as a joint account holder to build up credit fast.
Title: Re: First CC question...
Post by: myb821 on July 06, 2011, 11:08:25 AM
@bp let me explain my experience me and my wife both applied to both chase and citi for cards. Chase approved me but not her because I have had credit for a while and she has not. Citi on the other hand approved her no problem bc she was an au on my cards but would not approve me bc I was an au on my dads card which had a cl bigger then the income I was reporting but when I removed myself as an au from my dads card citi gave me instant approval
Title: Re: First CC question...
Post by: Bp on July 06, 2011, 11:14:34 AM
So it doesn't seem that piggybacking works for a AU on a Citi card, Thanks for clarifying.
Title: Re: First CC question...
Post by: myb821 on July 06, 2011, 11:16:04 AM
What do u mean
Title: Re: First CC question...
Post by: Bp on July 06, 2011, 11:32:03 AM
What do u mean

You said Chase didnt approve her even though she was an AU to a card you had for a while.. was that card a Citi card?
Title: Re: First CC question...
Post by: myb821 on July 06, 2011, 11:34:59 AM
It was a citi and an amex but what I was saying is piggybacking will work to get u approved for a new citi card
Title: Re: First CC question...
Post by: springles on July 06, 2011, 11:39:20 AM
Im almost 100% sure that I read about pre-approved vs pre-selected somewhere he on ddf recently. S.o mentioned that pre-approved by law they have to approve you, while pre-selected is bs like smurf said. I dont remember where I saw this though.
We discussed it somewhere in the Sapphire Preferred thread.  I got a letter from Chase saying i was pre-approved for the card, not preselected. 
Title: building credit history for children
Post by: creditforkids on July 12, 2011, 09:16:28 PM
Can you think of any reason why not to add your children to a high credit line credit card?
If longevity of credit is a large factor in your credit score, why not start when they are still children?
Am I missing an obvious downside to this - or is this an obvious thing that everyone does for their kids?
Title: Re: Re: building credit history for children
Post by: BAHayman on July 12, 2011, 09:36:00 PM
Can you think of any reason why not to add your children to a high credit line credit card?
If longevity of credit is a large factor in your credit score, why not start when they are still children?
Am I missing an obvious downside to this - or is this an obvious thing that everyone does for their kids?

I had a problem where being an AU on my dads cards made my credit to income ratio too high and couldn't get myself any cards. I had to remove myself as an AU but then all the history disappeared...
Title: Re: building credit history for children
Post by: Bp on July 12, 2011, 09:40:56 PM
Was wondering the same as the OP, u always read the story's about kids getting pre approved CC's. Is there a law regarding age requirements? Is it up the banks? Does anyone know at what age you can start to apply? I've added my kids as AU with their SSN to some old cards with large CL,     
Title: Re: building credit history for children
Post by: creditforkids on July 12, 2011, 09:58:52 PM
Was wondering the same as the OP, u always read the story's about kids getting pre approved CC's. Is there a law regarding age requirements? Is it up the banks? Does anyone know at what age you can start to apply? I've added my kids as AU with their SSN to some old cards with large CL,     
so the theory makes sense - just not with a high credit limit? You would get your kid started with a lower limit card?
Title: Re: Re: building credit history for children
Post by: BAHayman on July 12, 2011, 10:03:38 PM
Was wondering the same as the OP, u always read the story's about kids getting pre approved CC's. Is there a law regarding age requirements? Is it up the banks? Does anyone know at what age you can start to apply? I've added my kids as AU with their SSN to some old cards with large CL,     

I don't know if there is a law or anything but I was added at 1 year old...
Title: Re: building credit history for children
Post by: henche on July 13, 2011, 12:09:19 AM
I know someone who added his kid before she was born, then named her the name he had chosen for the credit card.
(He put the due date as her birthdate, and it was right.)

I know another guy who added the girl he was dating but didn't tell her. Anyway, he left the credit card somewhere, and whoever found it gave it to her. She also had the same credit card, and thought it was hers. So she spent a few grand on it before he realized.
Title: Re: building credit history for children
Post by: Smokey Joe Robinson on July 13, 2011, 01:35:52 AM
I know someone who added his kid before she was born, then named her the name he had chosen for the credit card.
(He put the due date as her birthdate, and it was right.)

I know another guy who added the girl he was dating but didn't tell her. Anyway, he left the credit card somewhere, and whoever found it gave it to her. She also had the same credit card, and thought it was hers. So she spent a few grand on it before he realized.
is that one of those "shidduch stories" that s.o made up?
Title: Re: building credit history for children
Post by: MnM1130 on July 13, 2011, 01:40:12 AM
I know someone who added his kid before she was born, then named her the name he had chosen for the credit card.
(He put the due date as her birthdate, and it was right.)

I know another guy who added the girl he was dating but didn't tell her. Anyway, he left the credit card somewhere, and whoever found it gave it to her. She also had the same credit card, and thought it was hers. So she spent a few grand on it before he realized.
uhuh... and i saw a rabbit talking the other day.
Title: Re: building credit history for children
Post by: AsherO on July 13, 2011, 03:54:24 AM
Can you think of any reason why not to add your children to a high credit line credit card?
If longevity of credit is a large factor in your credit score, why not start when they are still children?
Am I missing an obvious downside to this - or is this an obvious thing that everyone does for their kids?

Welcome to the forums!

The way piggybacking works (if I'm understanding it correctly), is that when the AU (authorized user) is added, the card is added to their CR (credit report) as if it was there since it was opened. If that's true then there's no rush to add anyone.
Title: Re: building credit history for children
Post by: myb821 on July 13, 2011, 09:01:10 AM
What abt opening a cc for a one year old?

Title: Re: building credit history for children
Post by: yaakov s on July 13, 2011, 10:37:11 AM
What abt opening a cc for a one year old?
yesh shematzlichim aval ze lo kedai
Title: Re: building credit history for children
Post by: myb821 on July 13, 2011, 10:49:31 AM
Why lo kedai more signup bonuses
Title: Re: building credit history for children
Post by: yaakov s on July 13, 2011, 10:59:35 AM
Why lo kedai more signup bonuses
if you get it with his appropriate birthday its a different story. Dont know if its kedai or if there are reprecussions . I was referring to a different scenerio.
Title: Re: building credit history for children
Post by: creditforkids on July 13, 2011, 11:28:47 AM
Welcome to the forums!

The way piggybacking works (if I'm understanding it correctly), is that when the AU (authorized user) is added, the card is added to their CR (credit report) as if it was there since it was opened. If that's true then there's no rush to add anyone.
thank you for the welcome.
if we can confirm piggy backing that would answer the question.
I must say however that I piggy backed on my spouses card which was opened 2 years prior to my first credit card, and I dont beleive the credit buros gave me credit fir the extra 2 years. I'll double check next time I pull it.
thanks again.
Title: Re: building credit history for children
Post by: AsherO on July 13, 2011, 12:15:36 PM
yesh shematzlichim aval ze lo kedai

Did they experience any adverse affects? Care to please elaborate?
Title: Re: building credit history for children
Post by: yaakov s on July 13, 2011, 12:38:10 PM
Did they experience any adverse affects? Care to please elaborate?
I dont know I assumed if one lies and uses someone elses ss# and alters birthdays its never a good idea even if it's your child. The people i know are my age and their kids arent old enough to need their own credit etc.
Title: Re: building credit history for children
Post by: AsherO on July 13, 2011, 12:46:39 PM
I dont know I assumed if one lies and uses someone elses ss# and alters birthdays its never a good idea even if it's your child. The people i know are my age and their kids arent old enough to need their own credit etc.

Meh, don't assume.

Even if your baby gets blacklisted at Chase (for example), 15 years later I'm confident Chase will forget about it, especially if it isn't their fault. Worst case, your children's DoB will be 18 years older at the credit bureaus than on their birth certificate...
Title: Re: building credit history for children
Post by: Daniel on July 13, 2011, 12:53:50 PM
I can testify that when I was 12-15 years old I signed up for credit cards using a birth date which would put me in my 40s. I got approved and from then on my credit report thought I was over 40. When I reached 18, I faxed the credit bureaus my IDs and they updated the birth date.

However, I would ask a Rav before lying as it's probably assur.
Title: Re: building credit history for children
Post by: myb821 on July 13, 2011, 01:12:38 PM
I can testify that when I was 12-15 years old I signed up for credit cards using a birth date which would put me in my 40s. I got approved and from then on my credit report thought I was over 40. When I reached 18, I faxed the credit bureaus my IDs and they updated the birth date.

However, I would ask a Rav before lying as it's probably assur.
so the bday u report on ur first credit app will be the one on ur CR
Title: Re: building credit history for children
Post by: azhoopsfan on July 13, 2011, 01:22:32 PM
Slightly off-topic but related... I have had success opening mileage bank accounts (both personal and business) for my 3 year old daughter.  Her mother and I thanked her very much after we used the miles for a trip to Hawaii (she stayed with the grandparents). 
Title: Re: building credit history for children
Post by: springles on July 13, 2011, 02:59:15 PM
Welcome to the forums!

The way piggybacking works (if I'm understanding it correctly), is that when the AU (authorized user) is added, the card is added to their CR (credit report) as if it was there since it was opened. If that's true then there's no rush to add anyone.
In the past I have heard this and seen it on my credit report.  But when looking at my credit report on credit karma it seemed as if it was only counting my own credit lines when calculating age of credit.  I started to think that maybe the banks see both numbers, and do what they wish with it.
Title: Re: building credit history for children
Post by: AsherO on July 13, 2011, 03:15:11 PM
In the past I have heard this and seen it on my credit report.  But when looking at my credit report on credit karma it seemed as if it was only counting my own credit lines when calculating age of credit.  I started to think that maybe the banks see both numbers, and do what they wish with it.

Policies regarding piggybacking (and possibly how it's reported) have definitely changed over the past few years.
Title: Re: building credit history for children
Post by: Bp on July 13, 2011, 04:12:22 PM
What abt opening a cc for a one year old?



I can testify that when I was 12-15 years old I signed up for credit cards using a birth date which would put me in my 40s. I got approved and from then on my credit report thought I was over 40. When I reached 18, I faxed the credit bureaus my IDs and they updated the birth date.

However, I would ask a Rav before lying as it's probably assur.

So the only way it can work is with a fake birthday? 
Title: Re: building credit history for children
Post by: Daniel on July 13, 2011, 04:22:10 PM
So the only way it can work is with a fake birthday? 

Banks will not give credit to a one year old.
Title: Re: building credit history for children
Post by: Bp on July 13, 2011, 04:25:38 PM
Banks will not give credit to a one year old.
whats the minimum age?
Title: Re: building credit history for children
Post by: Daniel on July 13, 2011, 04:28:11 PM
whats the minimum age?

http://en.wikipedia.org/wiki/Age_of_majority
Title: Re: building credit history for children
Post by: yare on July 13, 2011, 05:22:38 PM
Meh, don't assume.

Even if your baby gets blacklisted at Chase (for example), 15 years later I'm confident Chase will forget about it, especially if it isn't their fault. Worst case, your children's DoB will be 18 years older at the credit bureaus than on their birth certificate...
lets not forget about bank fraud over here.  people (of the jewish ethnicity in particular) like to think they're smarter than the system and untouchable by the government; until they're touched.  just take a look at all the couples screwing around on their taxes to get rebates for kids and income that they don't  have. last year a bunch of them got busted.  not worth it even for a few (hundred thousand) miles imo
Title: Re: building credit history for children
Post by: AsherO on July 13, 2011, 05:53:41 PM
http://en.wikipedia.org/wiki/Age_of_majority

I'm quite confident you can add AUs under 18. BP's question is valid, what age is ok?

lets not forget about bank fraud over here.  people (of the jewish ethnicity in particular) like to think they're smarter than the system and untouchable by the government; until they're touched.  just take a look at all the couples screwing around on their taxes to get rebates for kids and income that they don't  have. last year a bunch of them got busted.  not worth it even for a few (hundred thousand) miles imo

Meh, you're overreacting IMHO.
Title: Re: building credit history for children
Post by: yare on July 13, 2011, 06:04:13 PM
Meh, you're overreacting IMHO.
hmm, blatant bank fraud that is %100 traceable right back to your doorstep (, it's not even like income where you could fudge around, you're talking about birth dates).  you're right, odds are you won't be busted.  but the thing about odds is, sometimes you lose.   
Title: Re: building credit history for children
Post by: bitbythedog on July 13, 2011, 06:08:24 PM
let's ask Dan if he's signed up his 4 day old yet :)
I'm actually planning on opening a continental onepass miles accnt for my 6 week old , hoping they'll give him the miles for our trip to tlv in a few weeks. after all , they are charging me the $350 fr the BF ticket for him !
Title: Re: building credit history for children
Post by: Nitantnel on July 13, 2011, 07:00:32 PM
lets not forget about bank fraud over here.  people (of the jewish ethnicity in particular) like to think they're smarter than the system and untouchable by the government; until they're touched.  just take a look at all the couples screwing around on their taxes to get rebates for kids and income that they don't  have. last year a bunch of them got busted.  not worth it even for a few (hundred thousand) miles imo

I think your mixing Kasheh and Barshet, reporting a child which you don't have equals stealing from the IRS, creating a credit card fpr young children, ENABLES you to steal from THEM (Not the IRS). 
 
Title: Guaranteed Approval
Post by: Cbs on September 20, 2011, 02:18:01 PM
what Type of CC would have a guaranteed Approval? (if im trying to build Credit) stores? gas? airline?

i did a search but couldnt seem to spot my answer
Title: Re: Guaranteed Approval
Post by: smurf on September 20, 2011, 02:25:31 PM
what Type of CC would have a guaranteed Approval? (if im trying to build Credit) stores? gas? airline?

i did a search but couldnt seem to spot my answer
none are guaranteed. But usually the less chashuv the card the easier it is to get approved
Title: Re: Guaranteed Approval
Post by: mercaz1 on September 20, 2011, 02:27:00 PM
usually easiest to get a store credit card like gap or target and then branch out
Title: Re: Guaranteed Approval
Post by: ashers on September 20, 2011, 03:52:22 PM
Capital one......
Title: Re: Guaranteed Approval
Post by: bubbles on September 20, 2011, 03:53:19 PM
add yourself as an au to a card in good standing then apply for a citi card.
Title: Re: Guaranteed Approval
Post by: Dan on September 20, 2011, 05:29:44 PM
Capital one......
Awful choice.  Hard pull in all 3 bureaus that way.
Title: Re: Guaranteed Approval
Post by: aussiebochur on September 20, 2011, 05:41:08 PM
Adding as an AU, Secured credit card, Store credit card, Student credit card (e.g. Citi Forward) in that order are probably you're best bet.
Title: Re: Guaranteed Approval
Post by: Cbs on September 20, 2011, 05:47:58 PM
Adding as an AU, Secured credit card, Store credit card, Student credit card (e.g. Citi Forward) in that order are probably you're best bet.
was thinking about being added as an AU. but for how long to be AU before going to next ?
Secured - it prob will give me good credit but i dont have the patience to put a side money for a year and be stuck into it, if i can work my way around that and still get good credit
and Student (Cap 1 Journey) i have (1st and only).
Title: Re: Guaranteed Approval
Post by: hocker on September 20, 2011, 10:37:06 PM
I got approved for the Citi Forward with absolutely no prior history. although that was 2years ago.
Title: Re: Guaranteed Approval
Post by: arie on September 20, 2011, 10:42:35 PM
Awful choice.  Hard pull in all 3 bureaus that way.
i wonder if it really makes a difference for people in nj or other states that only get pulls from experian anyway
Title: Re: Guaranteed Approval
Post by: bubbles on September 20, 2011, 10:43:49 PM
was thinking about being added as an AU. but for how long to be AU before going to next ?

My wife had zero credit history, I added her as an au to my account and as soon as my statement closed I applied for a citi student card for her and was accepted.

Quote
and Student (Cap 1 Journey) i have (1st and only).

How long have you had it for?
Title: Re: Guaranteed Approval
Post by: Cbs on September 20, 2011, 10:50:29 PM
How long have you had it for?
right after you send the app in they accept on the spot and tell you how much credit line you have.

but now im scared to start trying other CC for a few months bec this i had for 8 months and got denied 2 CC apps since.( in the past month and  a half that is) so im waiting now, unless someones got some advice!
Title: Re: Guaranteed Approval
Post by: bubbles on September 20, 2011, 10:55:14 PM
right after you send the app in they accept on the spot and tell you how much credit line you have.


Not sure what you're saying
Title: Re: Guaranteed Approval
Post by: Yeki89 on September 20, 2011, 11:01:43 PM
you never built up credit, or you have bad credit?
Title: Re: Guaranteed Approval
Post by: Cbs on September 20, 2011, 11:07:45 PM
Not sure what you're saying
im sorry i thought u asked something else.

but i had it from end of January 2011
Title: Re: Guaranteed Approval
Post by: Cbs on September 20, 2011, 11:08:59 PM
you never built up credit, or you have bad credit?
i never built up credit
Title: Re: Guaranteed Approval
Post by: bubbles on September 20, 2011, 11:10:53 PM
so the au worked for me with citi with zero history. If for some reason you don't want to do that dan suggests getting a store card like the gap card. You can search the forums and there are a few topics about this subject

like here (http://www.dansdeals.com/forums/index.php?topic=9843.msg118620#msg118620)
and here (http://www.dansdeals.com/forums/index.php?topic=8993.msg107666#msg107666)
(though I guess by now most of the info you'll find there has already been posted here)
Title: Re: Guaranteed Approval
Post by: Cbs on September 20, 2011, 11:16:44 PM
oh nice thank you! - i tried searching around but these days its hard to find what youre looking for through the search bar since theres so much going on and some topics have hundreds of posts ...... but this should do!  :)
Title: Re: Guaranteed Approval
Post by: Fan of Dan on September 22, 2011, 01:46:39 AM
If you do au Amex is the best bet cause they report it nicely
Title: Re: Guaranteed Approval
Post by: Yeki89 on September 22, 2011, 10:09:49 PM
can we make an au gemach?
Title: Re: Guaranteed Approval
Post by: moko on September 23, 2011, 02:06:50 PM
can we make an au gemach?
give ur ss to complete stranger?!
oh of course not i know ur screen name
Title: Re: Guaranteed Approval
Post by: Cbs on September 23, 2011, 06:07:03 PM
can we make an au gemach?
very thoughtful and would be nice but
give ur ss to complete stranger?!
+1. uve got a point
Title: Re: Guaranteed Approval
Post by: Avid Reader on October 10, 2011, 04:37:15 AM
My wife had zero credit history, I added her as an au to my account and as soon as my statement closed I applied for a citi student card for her and was accepted.
When you added your wife as an AU, was that on a Citi card as well, or another bank?
Title: Re: Guaranteed Approval
Post by: bubbles on October 10, 2011, 09:04:19 AM
When you added your wife as an AU, was that on a Citi card as well, or another bank?
Just Amex
Title: Re: best first credit card
Post by: youG on November 27, 2011, 04:31:39 PM
YAY just got a green card for US and my social number came yesterday! is going to store card still the best way to start? does anyone know what my score starts at? is it 0??
Title: Re: Re: best first credit card
Post by: sky121 on November 27, 2011, 04:38:52 PM
YAY just got a green card for US and my social number came yesterday! is going to store card still the best way to start? does anyone know what my score starts at? is it 0??

Add yourself as an authorized user to someone if you can. That should help. And yes a store is usually best place to start.

Sent from my LS670 using Tapatalk
Title: Re: best first credit card
Post by: Spiffster on November 27, 2011, 07:55:07 PM
YAY just got a green card for US and my social number came yesterday! is going to store card still the best way to start? does anyone know what my score starts at? is it 0??

FICO ranges from 350 to 850.  Goto MyFico.com and start reading.

AUs and store cards are generally considered the best start, yes.  Or a secured card if you want to bank the $.
Title: Re: best first credit card
Post by: intgesh on December 26, 2011, 05:39:29 PM
Ok it's been a while since ive been denied and since then ive been an authorized user on a couple cards.
before i apply for a (store) card, should i remove myself from the other accounts? what if there are balances owed?
Title: Re: best first credit card
Post by: AsherO on December 26, 2011, 05:40:59 PM
Ok it's been a while since ive been denied and since then ive been an authorized user on a couple cards.
before i apply for a (store) card, should i remove myself from the other accounts? what if there are balances owed?

You might want to get a copy of your report so you know what your credit looks like before applying.
Title: Re: best first credit card
Post by: intgesh on December 26, 2011, 05:41:42 PM
Also does anyone have a recommendation as to which store offers the most when you sign up?
Title: Re: best first credit card
Post by: intgesh on December 26, 2011, 05:47:47 PM
You might want to get a copy of your report so you know what your credit looks like before applying.
How can i get a one-time free report?
Title: Re: best first credit card
Post by: AJK on December 26, 2011, 06:15:56 PM
How can i get a one-time free report?

Search DDF/Google for Citi Identity Monitor.

$1 for a 30 day trial. Just don't forget to cancel.
Title: Re: best first credit card
Post by: tuvz on February 02, 2012, 03:35:17 AM
the only advice i have is i know Chase doesnt count AU's towards your credit so dont apply to them. Citi on the other hand i know does count towards your credit so u will have a better chance with them.

My score consists of two 2 AU cards (one amex, one citi) and one store card (gap)....i was looking to apply for the continental offer from Chase
Your sayin they will disregard any reporting i have from my 2 AU cards?? :/
Title: Re: best first credit card
Post by: zush12345 on February 02, 2012, 06:57:52 AM
i started with the citi secured card,and after a couple of months you can apply for a non secured one
Title: Credit card for short credit history
Post by: hershy on March 04, 2012, 08:16:11 PM
I am new here (signed up few months ago but wasn't here since) maybe it was discussed ones can't find it. I have very short credit history & a score between 740 760 what's the best cc I can get approved (with Experian I have 8 hard pulls but the other 2 only 1 or 2) ? 
Title: Re: Credit card for short credit history
Post by: aryeh1 on March 04, 2012, 08:28:23 PM
macys
Title: Re: Credit card for short credit history
Post by: meshugener on March 04, 2012, 08:28:53 PM
Cap1 Journey. With a low credit history, Macy's wont approve you for their Amex card, only for a store card
Title: Re: Credit card for short credit history
Post by: aryeh1 on March 04, 2012, 08:34:39 PM
ya store card
Title: Re: Credit card for short credit history
Post by: hershy on March 04, 2012, 08:36:56 PM
I don't need a store card want something will be able to use.
Title: Re: Credit card for short credit history
Post by: hershy on March 04, 2012, 08:40:08 PM
Cap1 Journey. With a low credit history, Macy's wont approve you for their Amex card, only for a store card
Cap1 pulls from all 3 no?
Title: Re: Credit card for short credit history
Post by: aryeh1 on March 04, 2012, 08:41:41 PM
Cap1 pulls from all 3 no?

ya they do
Title: Re: Credit card for short credit history
Post by: smurf on March 04, 2012, 08:42:44 PM
ya they do
freezing may help with that
Title: Credit card for short credit history
Post by: bubbles on March 04, 2012, 08:50:33 PM
How short is very short? What do you currently have and for how long?
Title: Re: Credit card for short credit history
Post by: hershy on March 04, 2012, 08:52:13 PM
How short is very short? What do you currently have and for how long?
I have a secured cc for 11 months.
Title: Re: Credit card for short credit history
Post by: meshugener on March 04, 2012, 08:53:30 PM
They pull all 3, but I haven't seen any credit card which is so easy to get approved. Benefits: no annual fee; no foreign transaction fee; 1.25% cashback. But take in mind the triple-pull...
Title: Re: Credit card for short credit history
Post by: hershy on March 04, 2012, 08:58:24 PM
They pull all 3, but I haven't seen any credit card which is so easy to get approved. Benefits: no annual fee; no foreign transaction fee; 1.25% cashback. But take in mind the triple-pull...
But freeze is a option no?
Title: Re: Credit card for short credit history
Post by: Ergel on March 04, 2012, 08:58:51 PM
what do you 8 pulls from? denials? from whom?
Title: Re: Credit card for short credit history
Post by: hershy on March 04, 2012, 09:05:22 PM
what do you 8 pulls from? denials? from whom?
More then a year ago I applied for cc first normal then secured I wasn't approved for anything besides 1, bec. #1 no credit history #2 my credit report was all mixed up my name with my wifes DOB & more.
Title: Re: Re: Credit card for short credit history
Post by: netzih on March 04, 2012, 09:06:09 PM
They pull all 3, but I haven't seen any credit card which is so easy to get approved. Benefits: no annual fee; no foreign transaction fee; 1.25% cashback. But take in mind the triple-pull...
journeys card has no forex? And do they give good exchange rates?
Title: Re: Credit card for short credit history
Post by: meshugener on March 04, 2012, 09:18:36 PM
It has no forex fee. Dono more info. Anyone here had success freezing with Cap1?
Title: Re: Credit card for short credit history
Post by: Dan on March 04, 2012, 10:17:24 PM
I don't need a store card want something will be able to use.
If you use a store card like Gap for a few months spending $1 each month and paying it off then you will be able to get a real card from AMEX or Chase, etc.
Title: Re: Credit card for short credit history
Post by: hershy on March 04, 2012, 10:21:36 PM
If you use a store card like Gap for a few months spending $1 each month and paying it off then you will be able to get a real card from AMEX or Chase, etc.
I'm using already a secured card for almost a year why need a store card too?
Title: Credit card for short credit history
Post by: bubbles on March 04, 2012, 10:26:03 PM
I'm using already a secured card for almost a year why need a store card too?

Can't you have them switch it over to a regular card after around a year?
Title: Re: Credit card for short credit history
Post by: hershy on March 04, 2012, 10:30:40 PM
Can't you have them switch it over to a regular card after around a year?
Stupid bank was just good for a secured card (the only 1 that approved me)
Title: Re: Credit card for short credit history
Post by: bubbles on March 04, 2012, 10:33:11 PM
Stupid bank was just good for a secured card (the only 1 that approved me)

so i guess you can go the store card route like others are recommending. personally I've had success with citi as first cards when the person was an au on a different card in good standing but I'm not sure how it would play out with all those inquiries. any chance you're a student and can prove it?
Title: Re: Credit card for short credit history
Post by: hershy on March 04, 2012, 10:41:18 PM
so i guess you can go the store card route like others are recommending. personally I've had success with citi as first cards when the person was an au on a different card in good standing but I'm not sure how it would play out with all those inquiries. any chance you're a student and can prove it?
I can prove student with a letter but not a student ID if needed, and how about what some1 said cap1?
Title: Re: Credit card for short credit history
Post by: Dan on March 04, 2012, 10:43:00 PM
I can prove student with a letter but not a student ID if needed, and how about what some1 said cap1?
3 hits for a mediocre card is a high price to pay.
Title: Re: Credit card for short credit history
Post by: bubbles on March 04, 2012, 10:47:19 PM
I can prove student with a letter but not a student ID if needed, and how about what some1 said cap1?

If people had success with that than it is also an option. I'm not telling you which way is better or has a definite higher chance of success. All I can tell you is that I personally have had success with a citi student dividend platinum select card. IIRC they sometimes have a $100 or $200 sign up bonus and/or rotating 5% categories. The one I got had 5% back for first 6 months on gas and groceries plus others. Once the 6 months were up had no problem getting instantly approved for a freedom (which was actually last week so pretty recent experience.)

ETA: Just noticed @Dan did you pull all the citi cards from the sticky?
Title: Re: Credit card for short credit history
Post by: rcarentals on March 04, 2012, 10:49:41 PM
from what i've read and been told by credit analyzers in chase reconsideration, they are looking for at least 2yrs of history with 2 lines of credit before even approving for freedom..
having said that i had neithor of the above and got approved for 12k via a 3BM of saphire preferred 5k united 5k continental 2k.
it took around 15 calls but hey, i now have 12k and 3 cards (besides my amex PRG) to show for my credit report!
my advice do a 3bm for chase! i'd say,  Freedom-college-united or replace college for saphire if you think you're convincing.. chances are recon will give you at least one if not all!!! the secret? DONT GIVE UP!
Title: Re: Credit card for short credit history
Post by: hershy on March 04, 2012, 10:51:09 PM
3 hits for a mediocre card is a high price to pay.
How about freeze?
Title: Re: Credit card for short credit history
Post by: meshugener on March 04, 2012, 10:54:33 PM
I personally had multiple experience with ppl who had NO credit history and got instant approval for the Journey. But on condition you're employed; have checking account; income between $16k to $34k, at least.
Title: Re: Credit card for short credit history
Post by: hershy on March 04, 2012, 11:00:33 PM
from what i've read and been told by credit analyzers in chase reconsideration, they are looking for at least 2yrs of history with 2 lines of credit before even approving for freedom..
having said that i had neithor of the above and got approved for 12k via a 3BM of saphire preferred 5k united 5k continental 2k.
it took around 15 calls but hey, i now have 12k and 3 cards (besides my amex PRG) to show for my credit report!
my advice do a 3bm for chase! i'd say,  Freedom-college-united or replace college for saphire if you think you're convincing.. chances are recon will give you at least one if not all!!! the secret? DONT GIVE UP!
So you are saying I should apply for 3 cards in the same time people saying i should first apply for store card?????
Title: Re: Credit card for short credit history
Post by: hershy on March 04, 2012, 11:03:38 PM
I have a bank account with chase for a year any differents?
Title: Re: Credit card for short credit history
Post by: Dan on March 04, 2012, 11:07:15 PM
I have a bank account with chase for a year any differents?
Sure, if you apply and fail after multiple recon attempts a banker can appeal on your behalf as well.
Title: Re: Credit card for short credit history
Post by: rcarentals on March 04, 2012, 11:09:21 PM
ye,.. i had old account since 2009 and closed it and opened a free college checking so it showed i was only with chase 8 months and one of the ladys brought that up... i got maaaad pissed i was like i;ve been a cuatomer since 2009 yadayadyada.. and she didnt approve me... lol nor did her supervisor.. :) that was reconsideration.. but analst were the ones that approved all 3..
my personal banker wasnt able to help when i was turned down for ink bold.. lol.. i trust mainly in the 2 recon departments..
Title: Re: Credit card for short credit history
Post by: Dan on March 04, 2012, 11:16:48 PM
ye,.. i had old account since 2009 and closed it and opened a free college checking so it showed i was only with chase 8 months and one of the ladys brought that up... i got maaaad pissed i was like i;ve been a cuatomer since 2009 yadayadyada.. and she didnt approve me... lol nor did her supervisor.. :) that was reconsideration.. but analst were the ones that approved all 3..
my personal banker wasnt able to help when i was turned down for ink bold.. lol.. i trust mainly in the 2 recon departments..
+1 its all dependant on the CSR not the number...
???
Title: Re: Credit card for short credit history
Post by: hershy on March 04, 2012, 11:17:51 PM
Sure, if you apply and fail after multiple recon attempts a banker can appeal on your behalf as well.
From which card are you talking? And what do you mean a banker can help? When I opened my student checking account I applied for a cc & got denied even when the banked told me before that she had few costumers who got approved with no credit for a $300 student cc but no I when went back she told me she can't do anything. 
Title: Re: Credit card for short credit history
Post by: Dan on March 04, 2012, 11:21:51 PM
There is a special reconsideration form a banker can fill out, but most won't do it unless you have $10K in a chase account.
Title: Re: Credit card for short credit history
Post by: hershy on March 04, 2012, 11:25:28 PM
There is a special reconsideration form a banker can fill out, but most won't do it unless you have $10K in a chase account.
oh that's not for me (unless will have the tax refund money there?
Title: Re: Credit card for short credit history
Post by: bubbles on March 04, 2012, 11:26:13 PM
There is a special reconsideration form a banker can fill out, but most won't do it unless you have $10K in a chase account.

Any chance we can make a deal with a banker. well all put his info on the bottom of apps and he helps us out when needed?
Title: Re: Credit card for short credit history
Post by: AsherO on March 05, 2012, 12:50:48 AM
Any chance we can make a deal with a banker. well all put his info on the bottom of apps and he helps us out when needed?

If you're able to set this up, please let me know!!!

@ Dan, would this be a problem with DDF links? I've noticed they have those standard banker-fields as well.
Title: Re: Credit card for short credit history
Post by: Dan on March 05, 2012, 09:52:11 AM
If you're able to set this up, please let me know!!!

@ Dan, would this be a problem with DDF links? I've noticed they have those standard banker-fields as well.
Even on a DDF link there's a place to enter a banker's number.
Title: Re: Credit card for short credit history
Post by: hershy on March 05, 2012, 10:00:20 AM
So no one with experience here with cap1 & freezing credit reports?
Title: Re: Credit card for short credit history
Post by: Saver2000 on March 05, 2012, 10:10:43 AM
Even on a DDF link there's a place to enter a banker's number.

He knows that

If you're able to set this up, please let me know!!!

@ Dan, would this be a problem with DDF links? I've noticed they have those standard banker-fields as well.

He's asking if it would be a problem.
Title: Re: Credit card for short credit history
Post by: Dan on March 05, 2012, 10:13:17 AM
He knows that

He's asking if it would be a problem.
I don't think so, but dunno for sure.
Title: Re: Credit card for short credit history
Post by: rcarentals on March 05, 2012, 10:08:39 PM
???

people have reported having success specifically with one number over the other,.. with both numbers.. thats why it is fair to say, what i said,.. me having success with one doesnt mean the opposite wont happen to him..
Title: Re: Credit card for short credit history
Post by: Dan on March 05, 2012, 10:10:48 PM
Words escape me.
Title: Re: Re: Credit card for short credit history
Post by: Ergel on March 05, 2012, 10:29:11 PM
Words escape me.
CTLMS?
I miss those
Title: Re: Credit card for short credit history
Post by: Gadman56 on March 06, 2012, 06:50:05 PM
I had the same situation.

Got Denied Chase Freedom.

Got Approved for the AMEX Blue.
Title: Re: Credit card for short credit history
Post by: hershy on March 07, 2012, 08:14:51 AM
I had the same situation.

Got Denied Chase Freedom.

Got Approved for the AMEX Blue.
please explain what you mean the SAME situation, and from where AMEX pulls?
Title: Re: Credit card for short credit history
Post by: Gadman56 on March 12, 2012, 04:01:43 AM
AMEX Pulled from Experian. I never signed up for a CC before, so i was looking for my first CC. I applied for the chase freedom with no credit history, obviously got denied, then I applied for the AMEX Blue and got approved.

please explain what you mean the SAME situation, and from where AMEX pulls?
Title: Re: Credit card for short credit history
Post by: hershy on March 12, 2012, 03:54:56 PM
by AMEX works freeze?
Title: Re: Credit card for short credit history
Post by: AJK on March 12, 2012, 04:01:07 PM
by AMEX works freeze?

By AMEX works freeze not.
Title: Re: Credit card for short credit history
Post by: lcyitz on March 12, 2012, 04:06:29 PM
lol!! :D
Title: Re: Credit card for short credit history
Post by: hershy on March 12, 2012, 04:13:02 PM
 :P
Title: Re: Credit card for short credit history
Post by: Thingywingy on March 14, 2012, 04:39:36 PM
I am new here (signed up few months ago but wasn't here since) maybe it was discussed ones can't find it. I have very short credit history & a score between 740 760 what's the best cc I can get approved (with Experian I have 8 hard pulls but the other 2 only 1 or 2) ?
Citi Forward is recommended http://forums.dansdeals.com/index.php?topic=5423.0
Title: Re: Credit card for short credit history
Post by: hershy on March 14, 2012, 05:12:40 PM
anyone knows if it will help me to freeze before applying for citi card (I don't want they should pull from Experian)
Title: Re: Credit card for short credit history
Post by: AJK on March 14, 2012, 05:13:36 PM
anyone knows if it will help me to freeze before applying for citi card (I don't want they should pull from Experian)

No, AFAIK freezing does not work for Citi.
Title: Re: Credit card for short credit history
Post by: hershy on March 14, 2012, 05:18:53 PM
No, AFAIK freezing does not work for Citi.
So are they using Experian?
Title: Re: Credit card for short credit history
Post by: AJK on March 14, 2012, 05:26:44 PM
So are they using Experian?

Try here: http://forums.dansdeals.com/index.php?topic=6373.0
Title: Re: Credit card for short credit history
Post by: hershy on March 15, 2012, 12:41:28 PM
U/D I applied for the Citi Forward card called them up & they told me I have to open my equifax freeze after i called back when it was open she said I will get a answer in the next week, today I called again after waiting 2 min she came back with a CONGRATULATIONS YOU ARE APPROVED. thanks all.
Title: Re: First Credit Card
Post by: jack12 on April 17, 2012, 04:19:13 PM
Quick question: My first credit card was a citi secure card with a $29 a year fee. Thankfully it worked and a year after I got the secure card, I got approved for a platinum, then a freedom, sapphire etc..... I would like to call citi to have this secure card switched to a no fee card. I never use it and would close it, however I don't want to lose the year of credit history. So my question is: If they switch the card to a no fee card, will it still show up on my credit report as if it was opened when I opened the secure card or will I lose the year? Thanks!
Title: Re: First Credit Card
Post by: dealvr on April 17, 2012, 04:23:25 PM
Quick question: My first credit card was a citi secure card with a $29 a year fee. Thankfully it worked and a year after I got the secure card, I got approved for a platinum, then a freedom, sapphire etc..... I would like to call citi to have this secure card switched to a no fee card. I never use it and would close it, however I don't want to lose the year of credit history. So my question is: If they switch the card to a no fee card, will it still show up on my credit report as if it was opened when I opened the secure card or will I lose the year? Thanks!
Yes, it will show up as opened from time of secure card
Title: Credit card for older relative with Thin credit file best way to go?
Post by: KidOOO on May 01, 2012, 09:00:50 PM
Hi guys,

I am trying to get a credit card for my relative, he is about 70 years old, and when i checked his credit score it said he had a "thin file" meaning there was not much info on his credit report.

My questions is, what in your opinion is the best way to go about this?

I rather not go with a secured credit card, or an annual fee credit card. are they any other ways to build credit?

Thanks for your help
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: sky121 on May 01, 2012, 09:03:05 PM
Hi guys,

I am trying to get a credit card for my relative, he is about 70 years old, and when i checked his credit score it said he had a "thin file" meaning there was not much info on his credit report.

My questions is, what in your opinion is the best way to go about this?

I rather not go with a secured credit card, or an annual fee credit card. are they any other ways to build credit?

Thanks for your help

Add him as an authorized user?
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: meshugener on May 01, 2012, 10:22:08 PM
Make him a joint cardholder on one of his grandchildren's cards. :-)
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: KidOOO on May 01, 2012, 10:30:16 PM
Add him as an authorized user?

Thanks, i was thinking of going that way, but was not sure How much will that help? will it help as much as a regular credit card on his name? does he have to use the card at all in order to generate credit or is it done by simply having it?
Title: Credit card for older relative with Thin credit file best way to go?
Post by: lcyitz on May 01, 2012, 10:51:57 PM
Just use it once in a while, I believe even a dollar is fine , but an AU can take a year to build his credit. I would try a joint cardholder that seems to work faster ( according to meshuganer)
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: KidOOO on May 01, 2012, 11:00:07 PM
Just use it once in a while, I believe even a dollar is fine , but an AU can take a year to build his credit. I would try a joint cardholder that seems to work faster ( according to meshuganer)

I was not aware that a joint cardholder is different the authorized user. what is the difference exactly, and can it be done on Amex? (Blue Cash)

Thanks again for your help
Title: Credit card for older relative with Thin credit file best way to go?
Post by: lcyitz on May 01, 2012, 11:07:01 PM
I'm not an expert but I know it can be done with chase. it doesn't  hurt to call and ask :)
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: oldguy on May 01, 2012, 11:10:18 PM
I was not aware that a joint cardholder is different the authorized user. what is the difference exactly, and can it be done on Amex? (Blue Cash)

Thanks again for your help
On Amex you have to give your SSN even as an AU so it takes about 2 or 3 months then he will probably be approved for a CC.
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: Saver2000 on May 01, 2012, 11:15:30 PM
On Amex you have to give your SSN even as an AU so it takes about 2 or 3 months then he will probably be approved for a CC.

You are required to, but you don't have to. In other words, there are ways around it.
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: lcyitz on May 01, 2012, 11:16:42 PM
Is amex any different than citi? Because i put my friend down as an au and applied after 4 months and ...declined.
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: oldguy on May 01, 2012, 11:18:15 PM
You are required to, but you don't have to. In other words, there are ways around it.
But regarding Kid000 Q that's prob. the best way IME.
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: meshugener on May 01, 2012, 11:24:58 PM
If you want to see good a fast results, follow my advise: don't do an authorized user, make him a joint. Dono if that'll work with Amex, but if not, go to chase.
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: KidOOO on May 01, 2012, 11:27:31 PM
If you want to see good a fast results, follow my advise: don't do an authorized user, make him a joint. Dono if that'll work with Amex, but if not, go to chase.

Thanks, i already added him as user on my amex, gave them his Social.

i have chase freedom do you know if can add as joint? and what does "Joint" do more than AU
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: Dan on May 01, 2012, 11:27:47 PM
If you want to see fast results, follow my advise: make him a joint.
;)
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: smurf on May 01, 2012, 11:35:58 PM
;)
lol
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: KidOOO on May 01, 2012, 11:42:07 PM
;)

Yeh if he can only get a Score
Title: Credit card for older relative with Thin credit file best way to go?
Post by: lcyitz on May 01, 2012, 11:47:04 PM
;)
Does that mean joint doesn't work,or just funny that meshuganer said it?
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: bubbles on May 02, 2012, 12:06:05 AM
Does that mean joint doesn't work,or just funny that meshuganer said it?

(http://www.smileyvault.com/albums/userpics/10172/aug08_031.gif)


(wait for it)
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: JEWDA on May 02, 2012, 12:07:09 AM
Hi guys,

I am trying to get a credit card for my relative, he is about 70 years old, and when i checked his credit score it said he had a "thin file" meaning there was not much info on his credit report.

My questions is, what in your opinion is the best way to go about this?

I rather not go with a secured credit card, or an annual fee credit card. are they any other ways to build credit?

Thanks for your help
He should try capital one.
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: sky121 on May 02, 2012, 12:07:59 AM
If you want to see good a fast results, follow my advise: don't do an authorized user, make him a joint

+1  I meant to write joint user up there.  There IS a difference.
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: HelpMe on May 02, 2012, 12:37:51 AM
If you want to see good a fast results, follow my advise: don't do an authorized user, make him a joint. Dono if that'll work with Amex, but if not, go to chase.
No need for joint user. AU will work just fine unless a FICO score of +800 is not good enough for you.  ;D
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: KidOOO on May 02, 2012, 12:46:09 AM
He should try capital one.

Why do you say that?

+1  I meant to write joint user up there.  There IS a difference.

What is the difference?
Title: Re: Re: Credit card for older relative with Thin credit file best way to go?
Post by: netzih on May 02, 2012, 02:35:13 AM
Just use it once in a while, I believe even a dollar is fine , but an AU can take a year to build his credit. I would try a joint cardholder that seems to work faster ( according to meshuganer)
I don't see why out should take a year IME it had nothing to do with how long he had the card it had to do with how long the card had been open
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: meshugener on May 02, 2012, 07:27:27 AM
@HelpMe, sorry, but I speak with double experience, me + the Mrs. And it simply disint work with the AU approach, could be it would work in the long term, but in the short term, the only thing that worked and with immediate results was by doing the joint thing, (you're never too old to learn something....)
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: HelpMe on May 02, 2012, 07:35:54 AM
@HelpMe, sorry, but I speak with double experience, me + the Mrs. And it simply disint work with the AU approach, could be it would work in the long term, but in the short term, the only thing that worked and with immediate results was by doing the joint thing, (you're never too old to learn something....)
If you are going to play with the big boys you better come with more than two data points.
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: meshugener on May 02, 2012, 07:41:06 AM
And what about Chase recon telling me that since a AU is not responsible to pay the balance they won't count it as his available credit or payment history? (word of the day: do you know what Zaidy means? No need for a goog search, just a mirror view.
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: HelpMe on May 02, 2012, 07:54:35 AM
And what about Chase recon telling me that since a AU is not responsible to pay the balance they won't count it as his available credit or payment history? (word of the day: do you know what Zaidy means? No need for a goog search, just a mirror view.
CSR's tell you a lot of things. Does TYP ring a bell?

Here is my word for the day “whippersnapper”.  :)
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: meshugener on May 02, 2012, 08:11:26 AM
TYP reps told Dan the same they told me, so I'm not the only lucky one here...
Title: Credit card for older relative with Thin credit file best way to go?
Post by: lcyitz on May 02, 2012, 08:35:36 AM
@ meshugener how old was the account you where added to as a joint that can make a big difference.
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: meshugener on May 02, 2012, 08:37:06 AM
1 1/2 month. I opened the account just for that purpose (and for the signup candy).
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: AJK on May 02, 2012, 09:39:40 AM
@HelpMe, sorry, but I speak with double experience, me + the Mrs. And it simply disint work with the AU approach, could be it would work in the long term, but in the short term, the only thing that worked and with immediate results was by doing the joint thing, (you're never too old to learn something....)

You do realize you cannot logically and conclusively say, based on the order of events in which you acted, that it was due solely (or even at all) to adding yourselves as joint account holders, right?


Title: Credit card for older relative with Thin credit file best way to go?
Post by: lcyitz on May 02, 2012, 09:52:15 AM
True. But has anyone had bad results from a joint cardholder?
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: HelpMe on May 02, 2012, 09:57:55 AM
True. But has anyone had bad results from a joint cardholder?
Can a joint account holder be dropped or do you have to close the card? Can you move CL between joint cards and single account holder cards? There are draw backs to joint account holders and I didn't even mention the obvious.
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: HelpMe on May 02, 2012, 09:59:35 AM
1 1/2 month. I opened the account just for that purpose (and for the signup candy).
Do you mean you were added as a joint account holder to a card that was only 1.5 months old? I hope I am reading this wrong.
Title: Credit card for older relative with Thin credit file best way to go?
Post by: lcyitz on May 02, 2012, 10:00:52 AM
I was talking about the building credit perspective. But that wouldn't be to good if I can't transfer the cl.
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: meshugener on May 02, 2012, 11:05:14 AM
Do you mean you were added as a joint account holder to a card that was only 1.5 months old? I hope I am reading this wrong.
yes! Why do you think that you read my words wrong?
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: HelpMe on May 02, 2012, 11:12:03 AM
yes! Why do you think that you read my words wrong?
What benefit are you going to get from an account 1.5 months old?
Title: Credit card for older relative with Thin credit file best way to go?
Post by: lcyitz on May 02, 2012, 11:15:18 AM
Well they may recognize a joint as an actual account not an Au.
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: meshugener on May 02, 2012, 11:17:16 AM
Getting approved for all CCs she and I applied since then. I opened 2, both were approved with close to $20k CL, so I used 1 as a joint for me and the other as joint for her, waited another billing cycle so it should appear on our CR, and that's all. I believe the big factor in this was that they see wow! This guy has a lot of available credit! Good!
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: HelpMe on May 02, 2012, 11:32:28 AM
Getting approved for all CCs...
If that is what works for you then stick with it.
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: meshugener on May 02, 2012, 11:43:40 AM
Yeah, just inviting your kids to stick with me...
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: KidOOO on May 02, 2012, 12:54:45 PM
So back to my question, will it be possible for me to add him as joint? or is that only for a couple
Title: Credit card for older relative with Thin credit file best way to go?
Post by: lcyitz on May 02, 2012, 12:57:30 PM
You can add him as a joint. No marriage necceserry
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: HelpMe on May 02, 2012, 03:43:28 PM
Yeah, just inviting your kids to stick with me...
When you have a 800+ FICO and never get a denial just let me know.  :)
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: meshugener on May 02, 2012, 03:50:47 PM
I believe that I have made my point strongly enough, on this thread sand on others discussing this topic, I believe you understand what I said, and I'm fed up arguing the same thing again and again, so I'll leave it here and stop. Bye bye!!
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: KidOOO on May 02, 2012, 11:47:13 PM
Thanks everyone for help, gonna call chase for joint account.

How long do you think for any results in credit
Title: Re: Re: Credit card for older relative with Thin credit file best way to go?
Post by: netzih on May 03, 2012, 07:22:43 AM
Thanks everyone for help, gonna call chase for joint account.

How long do you think for any results in credit
depends how long this account that you are adding him on its open (and in good standing)
Title: Re: Re: Credit card for older relative with Thin credit file best way to go?
Post by: KidOOO on May 03, 2012, 06:03:51 PM
depends how long this account that you are adding him on its open (and in good standing)

2 years
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: KidOOO on May 04, 2012, 03:18:02 PM
I just got off the phone with chase, the rep told me that in order for him to be added as joint account need to fill out paper forms, and that approval process for that is just like his applying for a credit card on his own.

Does she know what she is talking about? because if so i cant see what i'm gaining by going this way
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: lcyitz on May 04, 2012, 03:46:18 PM
I am new to this whole adding joint to. but i spoke to 2 reps and  1 of them told me what you mentioned, and the other rep told me that they will add it (it seemed like they automatically do it), i think meshuganer mentioned  that they only pull your credit report for address and stuff so its like a soft pull, but not confirmed.
Title: Re: Re: Credit card for older relative with Thin credit file best way to go?
Post by: netzih on May 04, 2012, 04:45:18 PM
I am new to this whole adding joint to. but i spoke to 2 reps and  1 of them told me what you mentioned, and the other rep told me that they will add it (it seemed like they automatically do it), i think meshuganer mentioned  that they only pull your credit report for address and stuff so its like a soft pull, but not confirmed.
AFAIK they automatically add him as a AU than they send you papers to fill out to make him a joint cardholder (but I know people that would never be approved by chase for their own card be approved as joint so I don't think its like a regular credit card)
Title: Credit card for older relative with Thin credit file best way to go?
Post by: lcyitz on May 04, 2012, 05:47:40 PM
AFAIK they automatically add him as a AU
True.
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: KidOOO on May 04, 2012, 07:07:29 PM
Is there anyone here who know for sure?
Title: Re: Re: Credit card for older relative with Thin credit file best way to go?
Post by: netzih on May 05, 2012, 09:37:58 PM
Is there anyone here who know for sure?
well that's what they did by me do if that's counted as for sure...
Title: Student Credit Card
Post by: mek on May 30, 2012, 04:23:27 PM
Hey anyone know a good credit card to get if your a student and not making enough for a regular credit card?
Title: Re: Student Credit Card
Post by: sky121 on May 30, 2012, 04:29:46 PM
Hey anyone know a good credit card to get if your a student and not making enough for a regular credit card?

I know Capital One approves easily but I wouldn't do it.
 
 Try getting a store card first and then applying for a Chase Freedom?
And have a Chase bank account.
Title: Re: Student Credit Card
Post by: jj1000 on May 30, 2012, 04:30:12 PM
Gap, Sears, Macys are good.

This may help among other threads http://forums.dansdeals.com/index.php?topic=15983.msg219999#msg219999
Title: Re: Student Credit Card
Post by: Jkhein on May 30, 2012, 04:53:53 PM
I know Capital One approves easily but I wouldn't do it.
Why not? Thats how a friend of mine started from scratch, and is doing very well with his current apps since...
Title: Re: Student Credit Card
Post by: sky121 on May 30, 2012, 05:02:38 PM
Why not? Thats how a friend of mine started from scratch, and is doing very well with his current apps since...

You can. Capital One just isn't my favorite bank. And they do 3 hard pulls for one application.
Title: Re: Student Credit Card
Post by: meshugener on May 30, 2012, 05:03:02 PM
Not all of their cards.
Go for the Journey.
Report at least some income of $30+, say you have checking account, say you're employed, and you're approved.
Title: Re: Student Credit Card
Post by: mek on May 30, 2012, 05:17:11 PM
  Try getting a store card first and then applying for a Chase Freedom?
And have a Chase bank account.

Thanks but are you able to get approved for a store card without any income? I was denied on the freedom because of income
Title: Re: Student Credit Card
Post by: mek on May 30, 2012, 05:51:33 PM
Gap, Sears, Macys are good.

This may help among other threads http://forums.dansdeals.com/index.php?topic=15983.msg219999#msg219999

Thanks, I searched student card so I didnt see the card for bachurim thread
Title: Student Credit Card
Post by: lcyitz on May 30, 2012, 05:53:45 PM
And have a Chase bank account.
Does that really help with recon?
Title: Re: Student Credit Card
Post by: Saver2000 on May 30, 2012, 06:10:20 PM
Not all of their cards.
Go for the Journey.
Report at least some income of $30+, say you have checking account, say you're employed, and you're approved.

Which card doesn't pull all 3?
Title: Re: Student Credit Card
Post by: meshugener on May 30, 2012, 06:27:43 PM
Misunderstood my deep words.
I meant not all Cap1 cards are that easy to get approved for.
Title: Best retail card for building credit?
Post by: Thingywingy on June 08, 2012, 12:03:47 AM
I am trying to help someone with no credit. It's been mentioned that a retail card is the best route to build credit. What's the best retail card to get? Are any more likely to get approved for?
Title: Re: Best retail card for building credit?
Post by: mercaz1 on June 08, 2012, 09:27:32 AM
depends where he shops a lot
if at target then there card is pretty good because you get the 5% back every purchase and free shipping online
Title: Re: Best retail card for building credit?
Post by: elizmm on June 08, 2012, 01:49:43 PM
Try the macys card.
Title: Re: Best retail card for building credit?
Post by: meshugener on June 08, 2012, 01:58:31 PM
Get the Capital One Journey (bank card).
Title: Re: Best retail card for building credit?
Post by: Thingywingy on June 08, 2012, 05:12:51 PM
They are having a really hard time getting credit so the biggest factor is likeliness of getting approved. Dan has mentioned this a few times in the forums but I can't seem to find it. If anyone knows where his comments are please post.
Title: Re: Best retail card for building credit?
Post by: Lou Bob on June 08, 2012, 09:08:09 PM
Wells Fargo student card. Open student checking account at same time. Banker told me chances are much much higher with it...
Title: Re: Best retail card for building credit?
Post by: AsherO on June 10, 2012, 12:26:17 PM
Wells Fargo student card. Open student checking account at same time. Banker told me chances are much much higher with it...

Banker will tell you anything to get you to open an account and/or sign up through him.
Title: Re: Best retail card for building credit?
Post by: Avid Reader on June 10, 2012, 12:29:09 PM
They are having a really hard time getting credit so the biggest factor is likeliness of getting approved. Dan has mentioned this a few times in the forums but I can't seem to find it. If anyone knows where his comments are please post.

I'm, assuming they're having a hard time only because of lack of credit, not bad credit.
I recall the citi Forward card being easy to get if you can show you're a student.
Title: Re: Best retail card for building credit?
Post by: Lou Bob on June 10, 2012, 01:44:27 PM
Banker will tell you anything to get you to open an account and/or sign up through him.
may be true, but as I mentioned before, I suggested this card to many friends and it worked for them.
Title: Re: Best retail card for building credit?
Post by: Thingywingy on June 10, 2012, 07:59:31 PM
I'm, assuming they're having a hard time only because of lack of credit, not bad credit.
I recall the citi Forward card being easy to get if you can show you're a student.
That's true however I tried for them and it they were not accepted. They are not students.
Title: Re: Best retail card for building credit?
Post by: Galitzyaner on June 11, 2012, 02:37:50 AM
Capital one platinum

Worked for many
Title: Re: Best retail card for building credit?
Post by: Galitzyaner on June 11, 2012, 07:11:50 AM
Capital one platinum

Worked for many
It's not a retail card, but approval odds are pretty much usually guaranteed...
Title: Re: Best retail card for building credit?
Post by: Avid Reader on June 11, 2012, 07:56:50 AM
How much of a credit limit do the typically start you off with?
Title: Re: Best retail card for building credit?
Post by: meshugener on June 11, 2012, 08:31:45 AM
As low as $300.
Title: Re: Best retail card for building credit?
Post by: Galitzyaner on June 11, 2012, 09:04:57 AM
Capital one platinum

Worked for many
I'm BTW referring to the credit card (not the "bank card" that the Meshugener is talking about)..

How much of a credit limit do the typically start you off with?
$300/500
Title: Re: Best retail card for building credit?
Post by: meshugener on June 11, 2012, 09:10:35 AM
How do you know what I'm talking about?
I'm talking about a credit card.
Title: Re: Best retail card for building credit?
Post by: Galitzyaner on June 11, 2012, 10:35:58 AM
How do you know what I'm talking about?
I'm talking about a credit card.
Really?
Get the Capital One Journey (bank card).
hmmm
Takkeh, ah meshugener  ;)
Title: Re: Best retail card for building credit?
Post by: meshugener on June 11, 2012, 11:05:56 AM
I'm not that meshuga. I was referring to the OP who asked for a 'retail' credit card, so I advised him to apply for the Capital One Journey Credit Card even though its not issued by a retailer but by a 'bank'.
Got it?
Title: Re: Best retail card for building credit?
Post by: springles on June 11, 2012, 11:34:16 AM
The Journey card is for students.  Will someone get approved if not a student?
If not, what are the best cards that has a high approval chance for a non student with no credit?
Title: Re: Best retail card for building credit?
Post by: springles on June 11, 2012, 11:43:16 AM
The Journey card is for students.  Will someone get approved if not a student?
If not, what are the best cards that has a high approval chance for a non student with no credit?
I actually called Capital One to ask if this card has a requirement of being a student and the CSR said he has no information on the card since it is only offered online.  I asked if there is someone who would know the answer to my question and he said no.  To me that is laughable, how can no one at their own CC department have information about one of the CC's they offer. 
Title: Re: Best retail card for building credit?
Post by: meshugener on June 11, 2012, 12:12:14 PM
That's what DDF is made for - to help you with issues that even the biggest banks couldn't help you.
Yes, you can apply for the Capital One Journey credit card even you're not a student, they don't even ask on the application weather you are a student or not.
Be aware that Cap1 pulls from all 3 credit bureaus.
Title: Re: Best retail card for building credit?
Post by: Thingywingy on June 14, 2012, 12:48:45 AM
If anyone can post a link to dans comments on recommended retail card for building credit I would appreciate it. I can't seem to find it.
Title: Re: Best retail card for building credit?
Post by: AsherO on June 14, 2012, 01:51:09 AM
If anyone can post a link to dans comments on recommended retail card for building credit I would appreciate it. I can't seem to find it.

You mean this:

I started with a GAP card for a couple months and then had no problem getting the real credit cards.

?
Title: Re: Best retail card for building credit?
Post by: Thingywingy on June 14, 2012, 02:09:56 AM
You mean this:

?
No. He has suggested specific retail cards to use.
Title: Re: Best retail card for building credit?
Post by: Saver2000 on June 14, 2012, 02:18:38 AM
No. He has suggested specific retail cards to use.

I don't think it makes a difference wether you get a target, macys, or gap card. They all have the same effect as far as credit building.
Title: Re: Best retail card for building credit?
Post by: meshugener on June 14, 2012, 09:04:39 AM
+1
 IIRC they're all issued by the same FI.
Title: Re: Best retail card for building credit?
Post by: smurf on June 14, 2012, 09:09:53 AM
I don't think it makes a difference wether you get a target, macys, or gap card. They all have the same effect as far as credit building.
+1
so just choose the card that you'll benefit the most from so that you won't entirely waste a pull
Title: Re: Best retail card for building credit?
Post by: AsherO on June 14, 2012, 10:18:10 AM
IIRC they're all issued by the same FI.

If it's the same FI, any chance a 2/3/4 BM might work?
Title: Re: Best retail card for building credit?
Post by: meshugener on June 14, 2012, 11:36:21 AM
I'm not sure they're all available online.
Title: Re: Best retail card for building credit?
Post by: Zeeeeks on June 14, 2012, 02:43:22 PM
I just got my friend the United card after being an AU on one of my cards.
Title: Re: Best retail card for building credit?
Post by: Avid Reader on June 14, 2012, 03:44:28 PM
I just got my friend the United card after being an AU on one of my cards.
So this was his first card?
How long was he an AU on you card before he got approved for is own UA card?
Title: Re: Best retail card for building credit?
Post by: Zeeeeks on June 14, 2012, 05:04:43 PM
So this was his first card?
How long was he an AU on you card before he got approved for is own UA card?
Around a year.

I applied for that with the Freedom, the UA was approved without calling, the Freedom they said they can't give him the card even for the $500 minimum (tried calling 4 times).
Title: Re: Best retail card for building credit?
Post by: Dan on June 14, 2012, 05:13:17 PM
Offered to reallocate from UA?
Title: Re: Best retail card for building credit?
Post by: Zeeeeks on June 14, 2012, 07:45:59 PM
Offered to reallocate from UA?

They said their not worried about him not paying the $500. The only way to open it is by closing the UA card, since he has no personal history.
Title: Re: Best retail card for building credit?
Post by: Thingywingy on June 17, 2012, 01:50:04 AM
I am filling out the target red card application for a US & Canadian citizen. While they have SS they only have a Canadian license. What should I put in for licence number and state of issuance? Do they not give cards to people without a license all together?
Title: First Credit Cards
Post by: RJ898 on June 18, 2012, 12:50:56 PM
I'm trying to start my wife on the CC game. What are the best cards to start with? Should I avoid a 2/3BM? She's had an HSBC card for a few years so she has some history.
Title: Re: First Credit Cards
Post by: meshugener on June 18, 2012, 01:17:31 PM
I usually don't advise searching, but now you made me screaming. SEARCH!
You don't even have to use the search function, just scroll down a few theads.
Title: Re: First Credit Cards
Post by: Walk On the Ocean on June 18, 2012, 01:28:20 PM
I'm trying to start my wife on the CC game. What are the best cards to start with? Should I avoid a 2/3BM? She's had an HSBC card for a few years so she has some history.
Was the HSBC card reporting to all 3 crediting agencies?
If so, then I think a few years of Credit history is good enough to dive in with a 2bm
Title: Re: First Credit Cards
Post by: Mimi K. on June 18, 2012, 01:29:30 PM
I usually don't advise searching, but now you made me screaming. SEARCH!
You don't even have to use the search function, just scroll down a few theads.
take a tranquilizer  ::)
Title: Re: First Credit Cards
Post by: JEWDA on June 18, 2012, 01:30:52 PM
I'm trying to start my wife on the CC game. What are the best cards to start with? Should I avoid a 2/3BM? She's had an HSBC card for a few years so she has some history.
Welcome to the forums! you can start here http://forums.dansdeals.com/index.php?topic=8028.0
Title: Re: First Credit Cards
Post by: BISPRO on June 18, 2012, 03:04:29 PM
I'm trying to start my wife on the CC game. What are the best cards to start with? Should I avoid a 2/3BM? She's had an HSBC card for a few years so she has some history.

Dan is usually suggesting for the Gap card http://www.dansdeals.com/go/gap



Title: Re: First Credit Cards
Post by: plainbachur on June 18, 2012, 03:06:43 PM
discover or journey from cap1
Title: Re: First Credit Cards
Post by: JEWDA on June 18, 2012, 03:07:36 PM
discover or journey from cRap1
FTFY
Title: Re: First Credit Cards
Post by: lcyitz on June 18, 2012, 03:16:30 PM
FTFY
:D :D :D :D :D :D :D
Title: Re: First Credit Cards
Post by: zale on June 18, 2012, 03:43:45 PM
Do the CC companies keep their own profile of how many applications you submitted, and based on that approve or decline you for credit?

If not, then for all intents and purposes, a single application or a 3bm is the same, Considering that a 2bm or 3bm done right only does ONE credit pull.
Title: Re: First Credit Cards
Post by: jj1000 on June 18, 2012, 04:15:58 PM
Dan is usually suggesting for the Gap card http://www.dansdeals.com/go/gap
+1
FTFY
+1 LOL!!!
Title: Re: First Credit Cards
Post by: meshugener on June 18, 2012, 04:20:03 PM
No proof there is any difference (getting approved) between Gap and Banana Republic, Old Navy or other retail.
Title: Re: First Credit Cards
Post by: jj1000 on June 18, 2012, 04:22:08 PM
No proof there is any difference (getting approved) between Gap and Banana Republic, Old Navy or other retail.
True true... Just I know multiple people who have done it through the Gap card that's all... Do you think its easier to be approved in the store since they usually approve for your purchase right then?
Title: Re: First Credit Cards
Post by: meshugener on June 18, 2012, 04:24:50 PM
Don't have an answer for that, but it pays to do it in store when you purchase something, so you get a huge discount on that purchases.
(maybe online as well?? Not what I know, but maybe).
Title: Re: First Credit Cards
Post by: Galitzyaner on June 18, 2012, 09:23:15 PM
I'm trying to start my wife on the CC game. What are the best cards to start with? Should I avoid a 2/3BM? She's had an HSBC card for a few years so she has some history.
Capital One Platinum
Title: Re: First Credit Cards
Post by: meshugener on June 18, 2012, 09:44:44 PM
Why do you say so? If you go with Cap1 you should rather do the Journey.
Title: Re: First Credit Cards
Post by: jack12 on June 19, 2012, 09:27:14 AM
Suggestion: Someone make a master thread that deals with the topic of first credit cards, cc's for bachurim, building credit score etc and a moderator stickies it to the top so we don't have a new thread started about this topic every few weeks.
Title: Re: First Credit Cards
Post by: meshugener on June 19, 2012, 09:29:48 AM
+100
I lost count how many threads on this topic were created in the last 2 months.
Title: Re: First Credit Cards
Post by: JEWDA on June 19, 2012, 10:35:08 AM
Suggestion: Someone make a master thread that deals with the topic of first credit cards, cc's for bachurim, building credit score etc and a moderator stickies it to the top so we don't have a new thread started about this topic every few hours.
FTFY
Title: building-up credit history [with CC's]
Post by: creditor on July 31, 2012, 02:21:57 PM
a point of info.

amex is known to backdate an AU's credit history to the account-opened-date of the main cardholder. meaning even if you have no credit history and added yourself as an AU, the account appears on your CR as opened when the main card-account was opened, thereby being a good idea for people who wanna build their credit.
however OFFICIALLY amex says this policy has changed since jan/12
[although they `might‘ still backdate if you ask them to.]

now the only option CMIIW, is by adding yourself as a joint card holder which also backdates automatically.
but AFAIK only BOFA has joint card accounts

note: there are other options. ie rent payments etc. but thats usually not within regular consumers reach. only via a credit repair company

edit: looks like Chase and discover also offer joint accounts. but I'm not sure how it is when talking about CR.
Title: Re: building-up credit history [with CC's]
Post by: HelpMe on July 31, 2012, 02:38:23 PM
Don't almost all CC issuers backdate AU's? I think you missed the point of Amex backdating.  ;)
Title: Re: building-up credit history [with CC's]
Post by: meshugener on July 31, 2012, 02:41:30 PM
Chase also does joint accounts.
Title: Re: Re: building-up credit history [with CC's]
Post by: creditor on July 31, 2012, 02:44:49 PM
Don't almost all CC issuers backdate AU's? I think you missed the point of Amex backdating.  ;)
not that I am aware of. besides, with Chase, there was once a heavy discussion here how and what appears on CR when it comes to AU
Title: Re: Re: building-up credit history [with CC's]
Post by: creditor on July 31, 2012, 02:46:16 PM
Chase also does joint accounts.
I know I know. I actually edited before seeing your post
Title: Re: Re: building-up credit history [with CC's]
Post by: HelpMe on July 31, 2012, 02:46:28 PM
not that I am aware of. besides, with Chase, there was once a heavy discussion here how and what appears on CR when it comes to AU
Citi, Chase and BOA all backdate the AU's card. Who does not?
Title: Re: building-up credit history [with CC's]
Post by: HelpMe on July 31, 2012, 02:51:58 PM
I don’t want to steal your thunder because this is one of the most important techniques in credit building. Why is it so important to have Amex backdate an AU and no big deal for the other CC issuers?
Title: Re: building-up credit history [with CC's]
Post by: AJK on July 31, 2012, 03:32:23 PM
One difference between AmEx and other issuers is that every subsequent card to one's original card gets the original card's date of opening.
Title: Re: building-up credit history [with CC's]
Post by: HelpMe on July 31, 2012, 03:35:55 PM
One difference between AmEx and other issuers is that every subsequent card to one's original card gets the original card's date of opening.
Ding, ding, ding we have a winner!!! Get backdated on a parents 30 year old Amex card and you got it made.
Title: Re: building-up credit history [with CC's]
Post by: zale on August 01, 2012, 02:16:02 AM
Ding, ding, ding we have a winner!!! Get backdated on a parents 30 year old Amex card and you got it made.

Chase won't let that fly. Tried that for my bro. Rep on phone said they can see on the credit report that the "mature" cards were AU cards, and not his personal cards. They were able to see only one card that was actually his, which was very new.

If you look at your credit report, you will clearly see a marked difference between the two.

Amex, Citi etc.. might let it slide, but Chase clearly will not.
Title: Re: building-up credit history [with CC's]
Post by: HelpMe on August 01, 2012, 02:28:09 AM
Can we get a new forum? Maybe call it “Reading comprehension 101”.  :)
Title: Store Credit Card to build credit
Post by: Thingywingy on August 02, 2012, 08:10:47 PM
Trying to help a family member, I took the advice mentioned in these forums of getting them a store card to help build credit. I was just wondering how long to wait before applying for a regular card? Also, Does it matter how often they use the store card? They have a Target Red Card. I'm sorry if this was discussed elsewhere; I was unable to find it. Thanks!
Title: Re: Store Credit Card to build credit
Post by: JEWDA on August 02, 2012, 08:23:12 PM
They should use it every month, it helps alot. Really if that's their only card I would say to wait close to a year, but some people have luck even after 6 months.
Title: Re: Store Credit Card to build credit
Post by: Thingywingy on August 02, 2012, 08:24:45 PM
Once a month is enough?
Title: Re: Store Credit Card to build credit
Post by: meshugener on August 02, 2012, 09:12:35 PM
It doesn't matter how much you use it, just make sure to swipe at least once each billing cycle, don't use more than 10-20% of the CL, pay on time and have a good day.
Title: Getting Started
Post by: Racheli on August 09, 2012, 12:29:42 AM
Lets say I'm young so I have zero credit history, where would be the place to start that would help me build up credit ?
what are my options and which is recommended?  (I dnt want to be stuck paying for it or botching up my credit in the long run so it can't have an annual fee)

(tried bank where i have savings account they said no credit=no card)
what would be the next step?
Title: Getting Started
Post by: statusmiles on August 09, 2012, 12:32:10 AM
Ask someone with a card to add you as an authorized user or get a low credit limit store card for 6 months
Title: Re: Getting Started
Post by: jj1000 on August 09, 2012, 12:32:42 AM
A great place to start is DDF! More specifically searching DDF ;) . There is a wealth of information here all you have to do is search in the top right corner. Here is a good place to start http://forums.dansdeals.com/index.php?topic=15983.msg219993#msg219993

Btw WELCOME!!!
Title: Re: Getting Started
Post by: zale on August 09, 2012, 12:55:53 AM
Lets say I'm young so I have zero credit history, where would be the place to start that would help me build up credit ?
what are my options and which is recommended?  (I dnt want to be stuck paying for it or botching up my credit in the long run so it can't have an annual fee)

(tried bank where i have savings account they said no credit=no card)
what would be the next step?

Go into your local Gap store and see if you can get approved for their card. If you can, that is worth more than being an AU on another account.
Title: Re: Getting Started
Post by: ANONYMOUS on August 09, 2012, 01:09:01 AM
Lets say I'm young so I have zero credit history, where would be the place to start that would help me build up credit ?
what are my options and which is recommended?  (I dnt want to be stuck paying for it or botching up my credit in the long run so it can't have an annual fee)

(tried bank where i have savings account they said no credit=no card)
what would be the next step?

Capital One will almost always approve someone without any credit history (I know from experience) for this card!

The card is called "Capital One® Cash Rewards for Newcomers"

But I'm pretty sure it only comes with a $300.00 credit limit!!!

Enjoy!

Title: Re: Getting Started
Post by: Dan on August 09, 2012, 01:15:26 AM
Capital One will almost always approve someone without any credit history (I know from experience) for this card!

The card is called "Capital One® Cash Rewards for Newcomers"

But I'm pretty sure it only comes with a $300.00 credit limit!!!

Enjoy!


3 pulls, crappy card.
Title: Re: Getting Started
Post by: Racheli on August 09, 2012, 01:17:45 AM
as advised i tried getting on as an authorized user on a United Chase cc and they said i would need credit history of my own to get approved...does that make sense?

also heard bad reviews about CapitalOne and there are so many options, are any of them good? which one can i get?
Title: Re: Getting Started
Post by: ANONYMOUS on August 09, 2012, 01:19:14 AM
3 pulls, crappy card.

Yah Dan, but the bottom line is get the card & you get off the ground!

For someone that might have a problem doing some other options, this might be his best opportunity even though they have 3 pulls!!!

Would you agree in that case??


Thanks in advance!

Title: Re: Getting Started
Post by: jj1000 on August 09, 2012, 01:19:42 AM
as advised i tried getting on as an authorized user on a United Chase cc and they said i would need credit history of my own to get approved...does that make sense?
Not at all. Who's account? I guess just HUCA (hang up call again)
Title: Re: Getting Started
Post by: jj1000 on August 09, 2012, 01:20:07 AM
Yah Dan, but the bottom line is get the card & you get off the ground!

For someone that might have a problem doing some other options, this might be his best opportunity even though they have 3 pulls!!!

Would you agree in that case??


Thanks in advance!


Nop. GAP card.
Title: Re: Getting Started
Post by: HelpMe on August 09, 2012, 01:20:33 AM
as advised i tried getting on as an authorized user on a United Chase cc and they said i would need credit history of my own to get approved...does that make sense?

also heard bad reviews about CapitalOne and there are so many options, are any of them good? which one can i get?
Just have the account holder do it online.
Title: Re: Getting Started
Post by: ANONYMOUS on August 09, 2012, 01:21:13 AM
Nop. GAP card.

Are you guaranteed to get approved with the GAP Card??

Thanks in advance!

Title: Re: Getting Started
Post by: Racheli on August 09, 2012, 01:23:20 AM
Not at all. Who's account? I guess just HUCA (hang up call again)

i tried getting on my dads which would be an awesome way for me to build credit with minimal effort but they wouldn't let, i also have no income could that be the problem(college student...)?
Title: Re: Getting Started
Post by: ANONYMOUS on August 09, 2012, 01:25:08 AM
as advised i tried getting on as an authorized user on a United Chase cc and they said i would need credit history of my own to get approved...does that make sense?

also heard bad reviews about CapitalOne and there are so many options, are any of them good? which one can i get?

I don't know I got this one- Capital One® Cash Rewards for Newcomers for a good friend a couple months ago & he's very happy & everything working well.

So I don't know by "bad"

But it's your choice, & I'm just trying to help!!!

Enjoy! Much Hatzlacha!!!


Title: Re: Getting Started
Post by: jj1000 on August 09, 2012, 01:26:02 AM
i tried getting on my dads which would be an awesome way for me to build credit with minimal effort but they wouldn't let, i also have no income could that be the problem(college student...)?
Like help me said. Just send a SM (secure message) from his chase account. There is absolutely no requirement to become an AU. You should Also go to GAP and open your own CC (Your going to have to be willing to say you have at least a small income, I'll leave the morals in your hands)
Are you guaranteed to get approved with the GAP Card??

Thanks in advance!


IDK anyone that was rejected... You do have to claim some income though. (Not that they verify it)
Title: Re: Getting Started
Post by: HelpMe on August 09, 2012, 01:26:39 AM
i tried getting on my dads which would be an awesome way for me to build credit with minimal effort but they wouldn't let, i also have no income could that be the problem(college student...)?
Did he try as an AU or joint account holder?
Title: Re: Getting Started
Post by: Racheli on August 09, 2012, 01:29:59 AM
Like help me said. Just send a SM (secure message) from his chase account. There is absolutely no requirement to become an AU. You should Also go to GAP and open your own CC (Your going to have to be willing to say you have at least a small income, I'll leave the morals in your hands) IDK anyone that was rejected... You do have to claim some income though. (Not that they verify it)

thanks. clear and very helpful!
Title: Re: Getting Started
Post by: Racheli on August 09, 2012, 01:51:15 AM
so when you say Gap is that the easiest on e or will i be able to get one from Target ?
how often should i use the card, for how much?
Title: Re: Getting Started
Post by: jj1000 on August 09, 2012, 01:53:38 AM
so when you say Gap is that the easiest on e or will i be able to get one from Target ?
how often should i use the card, for how much?
I don't know about target. Should be easy, GAP is just well known to get easy approval (good excuse to go into the city this weekend ;).) You should spend $1 a month and pay it off when the bill comes.
Title: Re: Getting Started
Post by: aryeh1 on August 09, 2012, 02:02:00 AM
Why can't you get a gap card online? I'm assuming its better at the store since it gives you a discount?
Title: Re: Getting Started
Post by: jj1000 on August 09, 2012, 02:21:27 AM
Why can't you get a gap card online? I'm assuming its better at the store since it gives you a discount?
I have asked this question on here before, don't recall getting a good answer. Could be they approve you faster in the store because they want you to use it for the purchase right now. They will sometimes connect you with an agent from their CC approval department right then and just the whole process seems expedited...

*Disclaimer I am in no way guaranteeing approval at the store or online. I had a friend who was denied online, but he has a delinquency so that's a different story all together, still I am sure some people get denied.
Title: Re: Getting Started
Post by: ChasingTheDime on August 09, 2012, 09:50:28 AM
found this article

the co-signer part seems interesting
http://www.forbes.com/sites/jasoncollazo/2011/10/17/perfect-ways-to-obtain-a-credit-card-with-no-credit/

also, there are some websites out there with the top  10 cards to get to build credit, just google it, just to get some ideas

Title: Re: Getting Started
Post by: Yossi. on August 09, 2012, 10:29:08 AM
I remember in my early days in credit cards application in college, I was using a nice tool on that website (http://www.creditcards.com/credit-card-finder/)
Title: Re: Getting Started
Post by: ChasingTheDime on August 09, 2012, 10:30:40 AM
I remember in my early days in credit cards application in college, I was using a nice tool on that website (http://www.creditcards.com/credit-card-finder/)

my parents put me on as an AU on a card when i was like... idk, 2 ?

my oldest account is 26 years old  ::)
Title: Re: Getting Started
Post by: Racheli on August 09, 2012, 05:56:03 PM
Sad News guys.... Plan failed on the Gap card- i was rejected.... next try CapitalOne card?
any input??
Title: Re: Getting Started
Post by: Racheli on August 09, 2012, 05:58:29 PM
Like help me said. Just send a SM (secure message) from his chase account. There is absolutely no requirement to become an AU. You should Also go to GAP and open your own CC (Your going to have to be willing to say you have at least a small income, I'll leave the morals in your hands) IDK anyone that was rejected... You do have to claim some income though. (Not that they verify it)

now u know someone that was rejected lol. And i did declare an income ps
Title: Re: Getting Started
Post by: jj1000 on August 09, 2012, 06:23:18 PM
now u know someone that was rejected lol. And i did declare an income ps
curious as to how much. Are you 18 :P (so I don't really known you....)
Title: Re: Getting Started
Post by: HelpMe on August 09, 2012, 06:24:37 PM
Sad News guys.... Plan failed on the Gap card- i was rejected.... next try CapitalOne card?
any input??
Did you try in store or online?
Title: Re: Getting Started
Post by: Racheli on August 09, 2012, 06:35:23 PM
yeah i"m 18 so that probably has what to do with it.
in my local store-the city trip will just have to wait...
 I said 15,000 dollars a year. it was a really sad moment lol. i never heard of anyone getting rejected either but i guess i'm just special that way :) will it effect my credit that i tried getting it??

good news is that i AM an authorized user on my Dad's CC-he was trying for a joint holder which didn't work... so is that enough to build my credit or should i try for a capital one card? which one?

ps thanks 4 the fast response times DDF rocks!
Title: Re: Getting Started
Post by: myb821 on August 09, 2012, 07:22:51 PM
yeah i"m 18 so that probably has what to do with it.
in my local store-the city trip will just have to wait...
 I said 15,000 dollars a year. it was a really sad moment lol. i never heard of anyone getting rejected either but i guess i'm just special that way :) will it effect my credit that i tried getting it??

good news is that i AM an authorized user on my Dad's CC-he was trying for a joint holder which didn't work... so is that enough to build my credit or should i try for a capital one card? which one?

ps thanks 4 the fast response times DDF rocks!
first thing have u ever checked ur credit to make sure it is all good?
Title: Re: Getting Started
Post by: Racheli on August 09, 2012, 08:15:47 PM
first thing have u ever checked ur credit to make sure it is all good?

yeah i did just now... no negatives and one account in good standing (authorized user on dad's card)
Title: Re: Getting Started
Post by: SGF on August 09, 2012, 08:25:17 PM
if you want more, you can try a secure credit card
Title: Re: Getting Started
Post by: meshugener on August 09, 2012, 08:42:16 PM
The best and easiest way is, if your father has any Chase card to add yourself as a 'joint' not authorized user, sign the mailed forms and wait a few months.
Don't tell me they don't let you add. There isn't such a thing.
But of course make sure your dad don't spend more than 10-20% of his limit each month.
Title: Re: Getting Started
Post by: miamiles on August 09, 2012, 10:23:05 PM
anyone know the difference in terms of effecting your credit score if with chase you chose joint user or authorized user?
Title: Re: Getting Started
Post by: Racheli on August 09, 2012, 10:45:53 PM
The best and easiest way is, if your father has any Chase card to add yourself as a 'joint' not authorized user, sign the mailed forms and wait a few months.
Don't tell me they don't let you add. There isn't such a thing.
But of course make sure your dad don't spend more than 10-20% of his limit each month.

to be joint you need to have ur own credit history-just confirmed it....
Dad has great credit and pays off bills fully-not worried about that.

a secure credit card from where? WellsFargo/CapitalOne/Citi? which one will i be able to qualify for? (must have zero annual fee)
Title: Re: Getting Started
Post by: Racheli on August 09, 2012, 10:47:20 PM
anyone know the difference in terms of effecting your credit score if with chase you chose joint user or authorized user?

AU is less meaningful. when ur joint , at least to the best of my knowledge, they check your credit and u build credit as if it was ur own cc...
Title: Re: Getting Started
Post by: JEWDA on August 09, 2012, 10:49:30 PM
yeah i"m 18 so that probably has what to do with it.
in my local store-the city trip will just have to wait...
 I said 15,000 dollars a year. it was a really sad moment lol. i never heard of anyone getting rejected either but i guess i'm just special that way :) will it effect my credit that i tried getting it??

good news is that i AM an authorized user on my Dad's CC-he was trying for a joint holder which didn't work... so is that enough to build my credit or should i try for a capital one card? which one?

ps thanks 4 the fast response times DDF rocks!
I think thats why they denied you. Thats way too little to get approved for any CC.
Title: Re: Re: Getting Started
Post by: yossi4k on August 09, 2012, 10:58:59 PM
I think thats why they denied you. Thats way too little to get approved for any CC.
+1. I would tell you to wait a bit and try again with the Target card. I have good experience with them. Also write at least 30k for your income..and as far as morals...most cc allow you to include support from family, stipends, etc in your total income. Besides IMHO every cc knows that the amount an applicant puts by annual income will be inflated..
Title: Re: Getting Started
Post by: Racheli on August 09, 2012, 11:05:17 PM
haha guys i'm wayy too innocent for this stuff... will it be a problem that my credit was checked? like that i was rejected? how long should i wait before applying again, to target or to Gap?
thank you so much
Title: Re: Getting Started
Post by: statusmiles on August 09, 2012, 11:23:03 PM
1 application will not do much if at all to your score, if you do 3-4+ in a short period of time it may hurt you
Title: Re: Getting Started
Post by: Racheli on August 09, 2012, 11:34:06 PM
1 application will not do much if at all to your score, if you do 3-4+ in a short period of time it may hurt you

thanks
Title: Re: Getting Started
Post by: HelpMe on August 10, 2012, 12:12:44 AM
anyone know the difference in terms of effecting your credit score if with chase you chose joint user or authorized user?
It terms of your FICO score they are treated the same way.
Title: Re: Getting Started
Post by: HelpMe on August 10, 2012, 12:13:52 AM
Something that should be pointed out is that if you only have one account (AU or joint) you will not have a FICO score.
Title: Re: Getting Started
Post by: Cholentfresser on August 10, 2012, 12:28:14 AM
Something that should be pointed out is that if you only have one account (AU or joint) you will not have a FICO score.
Really? When does someone get a fico score?
Title: Re: Getting Started
Post by: HelpMe on August 10, 2012, 12:38:29 AM
Let me see if I can dig up some info on this. IIRC it is not the same for the big 3 (TU, EQ, EX).
Title: Re: Getting Started
Post by: rots5 on August 10, 2012, 07:03:17 AM
thanks

why cant u just be added onto any card as an AU, also when i was 18 and was going away with friends my father added me onto his account on spg (as my first card ever, and spg till today still regards me as a long time costumer - only 7 yrs but they still always say thanks for being an lon g standing costumer with us) and yes, go with target (plus its 5% back)

and my banker at chase told me when i signed up for the freedom last yr, he asked me whats my income, i said peter, i live off my parents, he said well how much do they make? i said ur there banker u tell ME, he said ok bec as long as u dont pay rent, or insurance and so on, then ur technically under them,
there was an argument awhile bak here on DDF if u can write what ur parents make as ur income,i think yes, esp if ur parents would pay off the bill if u max out! 
Title: Re: Getting Started
Post by: meshugener on August 10, 2012, 09:41:57 AM
And I'm going to say this again -and for the last time - you do NOT need to have any credit history or income to be added as a joint account holder with Chase.
And another point I'm saying her again: even though your FICO might increase if you are an autherized user on a card, most credit card issuer - especially Chase - don't care about it since you're not responsible to pay off the card's balance. Only joint will help.
I hope that's enough.
Title: Re: Getting Started
Post by: HelpMe on August 10, 2012, 09:52:07 AM
Say it all you want but you are dead wrong on so many accounts.
Title: Re: Getting Started
Post by: meshugener on August 10, 2012, 09:53:03 AM
Specify?
Title: Re: Getting Started
Post by: HelpMe on August 10, 2012, 09:55:26 AM
Specify?
Will it do any good?
Title: Re: Getting Started
Post by: meshugener on August 10, 2012, 10:02:32 AM
I have an hard time to differentiate between good and bad, but you well understand that we can't have an constructive and meaningful discussion without you specify what exactly you mean, but by posting blanket statements for someone trying to get help, you're just turning him away without any helpful idea.
Title: Re: Getting Started
Post by: Racheli on August 11, 2012, 10:53:24 PM
And I'm going to say this again -and for the last time - you do NOT need to have any credit history or income to be added as a joint account holder with Chase.
And another point I'm saying her again: even though your FICO might increase if you are an autherized user on a card, most credit card issuer - especially Chase - don't care about it since you're not responsible to pay off the card's balance. Only joint will help.
I hope that's enough.

i spoke to the chase twice about this and they said your credit history gets checked. they may be wrong and u may be right but that still doesn't make it an option for me.
thanks for the help though
Title: Re: Getting Started
Post by: statusmiles on August 11, 2012, 11:04:17 PM
All your father needs to do is login online and add an authorized user, just your name, and you will get a card in the mail. There is no point speaking to them on the phone, and whatever they told you is not true unless you were trying to add yourself as a Joint cardholder which is not an Authorized card holder.
Title: Re: Getting Started
Post by: Racheli on August 11, 2012, 11:41:10 PM
All your father needs to do is login online and add an authorized user, just your name, and you will get a card in the mail. There is no point speaking to them on the phone, and whatever they told you is not true unless you were trying to add yourself as a Joint cardholder which is not an Authorized card holder.

I am an AU. meshuganer said i can beconme a joint account holder without any credit, which i confirmed is not true
Title: Re: Getting Started
Post by: JEWDA on August 11, 2012, 11:50:22 PM
Why don't you just apply for Crap1? Just don't put 15,000 as income and you should get approved for at least $500.
My wife got it about a year ago and spent a little every month, and she now has 6 other cards besides that.
Title: Re: Getting Started
Post by: meshugener on August 12, 2012, 10:39:01 AM
I'm getting annoyed.
Why do you say its not an option for you to add yourself as a joint? Did you even try??
Is it just because you accept the holy words of a underpaid chase rep?
Title: Getting Started
Post by: statusmiles on August 12, 2012, 10:50:25 AM
I'm getting annoyed.
Why do you say its not an option for you to add yourself as a joint? Did you even try??
Is it just because you accept the holy words of a underpaid chase rep?

Why would you get annoyed over a young girl trying to figure out how to get a credit card
Title: Re: Getting Started
Post by: rots5 on August 12, 2012, 11:31:26 AM
I'm getting annoyed.
Why do you say its not an option for you to add yourself as a joint? Did you even try??
Is it just because you accept the holy words of a underpaid chase rep?

why is minimum wage underpaid....it just means paid :-D
Title: Re: Getting Started
Post by: jj1000 on August 12, 2012, 12:48:17 PM
Why would you get annoyed over a young girl trying to figure out how to get a credit card
Cuz he cares. Some people are just nice like that. ( could be just the crazy ones are, but I know a few who aren't crazy and also care)

@ meshug and that's the best compliment you'll get out of me :)
Title: Re: Getting Started
Post by: meshugener on August 12, 2012, 03:48:16 PM
I love you, my dear jj.
Title: Re: Getting Started
Post by: rots5 on August 13, 2012, 05:42:25 PM
seems like acc to dan that an au helps a lot for credit score (http://www.dansdeals.com/archives/23410)
Title: Re: Getting Started
Post by: HelpMe on August 13, 2012, 05:48:55 PM
seems like acc to dan that an au helps a lot for credit score (http://www.dansdeals.com/archives/23410)
Of course it helps your score. It has been proven many times over.
Title: Re: Getting Started
Post by: AsherO on August 13, 2012, 06:18:26 PM
haha guys i'm wayy too innocent for this stuff... will it be a problem that my credit was checked? like that i was rejected? how long should i wait before applying again, to target or to Gap?
thank you so much

Have you tried calling the rejection letter? Try asking them to reconsider your application due to your good credit blah blah, tell them your personal income is $15k and you live at home with no expenses, tell them your parents make $100k blah blah and that you're willing to take a small credit line if they'll approve you.
Title: Re: Getting Started
Post by: Racheli on August 16, 2012, 10:23:01 AM
I'm getting annoyed.
Why do you say its not an option for you to add yourself as a joint? Did you even try??
Is it just because you accept the holy words of a underpaid chase rep?

i"m very sorry if i'm annoying you. i understand that there is no way that i need credit to become joint account holder...i believe u but the reps (notice the plural) don't seem to agree so its just not an option for me...

better?
Title: Re: Getting Started
Post by: rots5 on August 16, 2012, 10:34:12 AM
speak to dan, hes the one who just posted that on dansdeals.com

http://www.dansdeals.com/archives/23410   (its towards the end)
Title: Re: Getting Started
Post by: Saver2000 on August 16, 2012, 10:41:59 AM
speak to dan, hes the one who just posted that on dansdeals.com

http://www.dansdeals.com/archives/23410   (its towards the end)

Posted what?
Title: Re: Getting Started
Post by: jj1000 on August 16, 2012, 10:46:24 AM
Posted what?
posted this " You can especially use this to your advantage by adding yourself as an AU to one of your parents cards, but that’s for another article…" what rots5 missed is that we are discussing joint account holder and Dan said an AU.Plus he didn't mention needing credit score (to the negative or positive) at all.
Title: Re: Getting Started
Post by: rots5 on August 16, 2012, 11:25:07 AM
posted this " You can especially use this to your advantage by adding yourself as an AU to one of your parents cards, but that’s for another article…" what rots5 missed is that we are discussing joint account holder and Dan said an AU.Plus he didn't mention needing credit score (to the negative or positive) at all.

i see, i mixed it up, thanks jay, why wouldnt the OP just be added on as an AU
Title: Re: Getting Started
Post by: meshugener on August 16, 2012, 11:29:06 AM
and again: did you even try to add yourself as a joint, and they responded that you're not approved?
Title: Re: Getting Started
Post by: rots5 on August 16, 2012, 11:56:50 AM
and again: did you even try to add yourself as a joint, and they responded that you're not approved?

if ur talking to me; no, i was successfully added as a joint with spg
Title: Re: Getting Started
Post by: jj1000 on August 16, 2012, 12:00:19 PM
Guys read upthread. S/he was added added as an AU and said to have tried being added as a joint user but got denied because of no credit history....
Title: Re: Getting Started
Post by: glasses dude on August 16, 2012, 12:06:37 PM
You could try signing up for a student card through discover, No great benefits but a good way to get in. Good Luck!
Title: Re: Getting Started
Post by: Kool Deals on August 23, 2012, 12:22:07 AM
I have
Transunion: 2 pulls ( banana republic, chase) (1. week ago, 2.  6.5 months ago) its strange i thought after 6 month it would go to 1 pull
Experian:     1 pull   (neighborhood bank)  (4 months ago)
very soon i will be able to be added as an AU on a siblings card  but i want to work quick and get good credit so
i can apply for good cards and get good rewards
does it make sense to apply for a target CC and say i make $30k? or somewhere else? or its too late? and also how long should I stay as an AU before applying for a CC and to where should i apply? if its too late or should i do both? I am a bit confused and new around here sorry for all the questions i tried to research on the forums but i am still a bit unclear
I think i was denied to all the above because I have no credit history and i wrote low income
Title: Re: Getting Started
Post by: Kool Deals on August 23, 2012, 12:11:35 PM
?
Title: Re: Getting Started
Post by: JEWDA on August 23, 2012, 12:15:29 PM
?
I guess it didn't help to change your username ;)
Title: Re: Getting Started
Post by: Saver2000 on August 23, 2012, 12:21:53 PM
I guess it didn't help to change your username ;)

Don't give him any ideas  ;)
Title: Re: Getting Started
Post by: Kool Deals on August 23, 2012, 12:22:53 PM
I guess it didn't help to change your username ;)

My friend you tell me to use the search box there is this and another thread that addresses my questions i read it all and i still got questions sorry  ???
Title: Re: Getting Started
Post by: JEWDA on August 23, 2012, 12:27:57 PM
Don't give him any ideas  ;)
Not sure what you mean but he did already, he was fan120
Title: Re: Getting Started
Post by: Saver2000 on August 23, 2012, 12:29:14 PM
Not sure what you mean but he did already, he was fan120

I meant that he'll open a new account.
Title: Re: Getting Started
Post by: Saver2000 on August 23, 2012, 12:35:52 PM
My friend you tell me to use the search box there is this and another thread that addresses my questions i read it all and i still got questions sorry  ???

Hey I don't mean to be rude but the only way to learn is to read read and read.

You asked 7 questions in one post, I will try to answer them all at once  ;)

There is no way to "build credit very fast". You can be added to someone's cc as an AU but even that doesn't always work.
You should apply for a student cc or a store cc to get started.

Applying too often is not good for your credit and will decrease your chance of approval for each subsequent application.

Hope this helps.
Jewda I hope you're not mad at me  ;D
Title: Re: Getting Started
Post by: Kool Deals on August 23, 2012, 12:43:31 PM
Hey I don't mean to be rude but the only way to learn is to read read and read.

You asked 7 questions in one post, I will try to answer them all at once  ;)

There is no way to "build credit very fast". You can be added to someone's cc as an AU but even that doesn't always work.
You should apply for a student cc or a store cc to get started.

Applying too often is not good for your credit and will decrease your chance of approval for each subsequent application.

Hope this helps.
Jewda I hope you're not mad at me  ;D

So in my case should i apply again today or wait a month or so? Any ideas which card?


Title: Re: Getting Started
Post by: Kool Deals on August 23, 2012, 02:47:27 PM
Lets clap for JEWDA
Title: Re: Getting Started
Post by: Kool Deals on August 23, 2012, 10:40:50 PM
So in my case should i apply again today or wait a month or so? Any ideas which card?
Title: Re: Getting Started
Post by: JEWDA on August 24, 2012, 12:31:48 AM
So in my case should i apply again today or wait a month or so? Any ideas which card?
No, you should wait at least a month and until then don't post any more questions.
Title: Re: Store Credit Card to build credit
Post by: Thingywingy on September 24, 2012, 03:49:58 PM
Is there a reason to wait if you see you have a decent credit score? Meaning: Does having the store card improve your likelihood of being accepted outside of improving your credit score? Or is it just a means of improving your credit score?
Title: Re: Store Credit Card to build credit
Post by: Thingywingy on October 04, 2012, 04:07:44 PM
Whats easier to get accepted for the Citi Forward, or Chase Slate?
Title: Re: Store Credit Card to build credit
Post by: sky121 on October 04, 2012, 04:31:11 PM
Do you have a Chase acccount? Because that could help as well.
Title: Re: Store Credit Card to build credit
Post by: Thingywingy on October 04, 2012, 05:23:32 PM
Do you have a Chase acccount? Because that could help as well.
Its not for me, but they do have a Chase Checking account, and are a secondary cardholder on more than one Chase CC. In March they applied for the Citi Forward card, as some said it is easy to get approved for, and they were declined. I'm trying to figure out if it's smart for them to apply at this time. Their Equafax score is 724.
Title: Re: Store Credit Card to build credit
Post by: sky121 on October 04, 2012, 05:27:44 PM
Its not for me, but they do have a Chase Checking account, and are a secondary cardholder on more than one Chase CC. In March they applied for the Citi Forward card, as some said it is easy to get approved for, and they were declined. I'm trying to figure out if it's smart for them to apply at this time. Their Equafax score is 724.

I think I'd stick with a Chase Slate or Freedom. Especially if they have a Chase bank account they can go in and speak to a banker if they get denied.
Title: Re: Store Credit Card to build credit
Post by: meshugener on October 04, 2012, 05:38:20 PM
First check out if they're authorized users or joint account holders.
Could be they have no credit history at all, in which case I wouldn't recommend you to apply for any Chase or Citi card.
Title: Re: Store Credit Card to build credit
Post by: Thingywingy on October 04, 2012, 05:47:19 PM
First check out if they're authorized users or joint account holders.
Could be they have no credit history at all, in which case I wouldn't recommend you to apply for any Chase or Citi card.
Its not for me, but they do have a Chase Checking account, and are a secondary cardholder on more than one Chase CC. In March they applied for the Citi Forward card, as some said it is easy to get approved for, and they were declined. I'm trying to figure out if it's smart for them to apply at this time. Their Equafax score is 724.
The only cards they have where they are the primary are store cards. A Macy's card since 08, without to much activity. A Target card with activity, but only 3 months old. So what do you think?
Title: Re: Store Credit Card to build credit
Post by: meshugener on October 04, 2012, 05:56:53 PM
Than I'd do the Freedom.
But why not add them as joint first to make it easier to recon?
Title: Re: Store Credit Card to build credit
Post by: Thingywingy on October 04, 2012, 06:05:14 PM
Than I'd do the Freedom.
But why not add them as joint first to make it easier to recon?
I wrote and repeated that they are a secondary cardholder on more than one Chase CC. How would that help with recon? Why would you recommend Freedom over Slate? Because of points? Or because you think its easier to get approved?
Title: Re: Store Credit Card to build credit
Post by: meshugener on October 04, 2012, 06:27:19 PM
I wrote and repeated that being secondary cardholder on more than
one Chase CC won't help anything unless you're a joint.
I recommend freedom because of the points, although, IMO, Slate is easier to get approved for, but I think, with a history since '08, you can get approved for the Freedom.
Title: Re: Store Credit Card to build credit
Post by: Thingywingy on October 04, 2012, 06:38:01 PM
I wrote and repeated that being secondary cardholder on more than
one Chase CC won't help anything unless you're a joint.
I recommend freedom because of the points, although, IMO, Slate is easier to get approved for, but I think, with a history since '08, you can get approved for the Freedom.
I prefer the Slate bacause of the BT transfer offer. I did not know that being a joint cardholder is better than a secondary. I did not understand you. I apologize. Has that been mentioned in DD forums before? Does it require a credit pull? How soon will it make a difference?
Title: Re: Store Credit Card to build credit
Post by: meshugener on October 04, 2012, 06:41:10 PM
No credit pull.
Mentioned a gazillion times on DDF.
Wait at least 1 billing cycly to close so it'll appear on their credit report.
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: Thingywingy on October 04, 2012, 06:59:21 PM
If you want to see good a fast results, follow my advise: don't do an authorized user, make him a joint. Dono if that'll work with Amex, but if not, go to chase.
Any recent info if that works with Amex?
Title: Re: Store Credit Card to build credit
Post by: Thingywingy on October 04, 2012, 07:09:41 PM
I just spoke to a rep at Chase and they said there will be a hard pull.
Title: Re: Re: Store Credit Card to build credit
Post by: sky121 on October 04, 2012, 07:11:43 PM
I just spoke to a rep at Chase and they said there will be a hard pull.

On their account it will, yes. Not on the account you're adding it to.
Title: Re: Re: Store Credit Card to build credit
Post by: Thingywingy on October 04, 2012, 07:22:36 PM
On their account it will, yes. Not on the account you're adding it to.
So.. if they would like to apply sooner rather than later for the Slate card, it would probably be better to hold off on adding them as a joint cuz the pull will lower their score. |'m assuming it will take some time for the benifits of being joint cardholder to take effect?
Title: Re: Store Credit Card to build credit
Post by: meshugener on October 04, 2012, 08:10:47 PM
IME, there is no hard pull, not on the primary and not on the joint.
Since when do we believe reps?
Title: Re: Store Credit Card to build credit
Post by: Thingywingy on October 04, 2012, 08:14:42 PM
IME, there is no hard pull, not on the primary and not on the joint.
Since when do we believe reps?
Is it possible you got luck? Has anyone else had the same experience?
Title: Re: Store Credit Card to build credit
Post by: Saver2000 on October 04, 2012, 08:49:42 PM
Since when do we believe reps?
Exactly  :-X
Title: Re: Store Credit Card to build credit
Post by: Thingywingy on October 04, 2012, 09:00:18 PM
Exactly  :-X
I agree that often reps give inaccurate info. However, I would want to confirm with more than one person that there was no pull. Is there reason to believe they will get approved for the Slate card even though they were unapproved for the Citi Forward in March. Their Equafax score is 724.
Title: Re: Store Credit Card to build credit
Post by: meshugener on October 04, 2012, 10:49:11 PM
The above is the experience of me + my spouse.
We're both just lucky? Could be....
Title: Re: Store Credit Card to build credit
Post by: Thingywingy on October 04, 2012, 11:29:31 PM
The above is the experience of me + my spouse.
We're both just lucky? Could be....
I appreciate your info. It seems you are the only one on DDF to report this. Wouldn't you expect at least one other ddf'er  to have the same experience?
Title: Re: Re: Store Credit Card to build credit
Post by: sky121 on October 04, 2012, 11:31:32 PM
I appreciate your info. It seems you are the only one on DDF to report this. Wouldn't you expect at least one other ddf'er  to have the same experience?

Doesn't seem like people have much experience with this situation in general.
Title: Re: Store Credit Card to build credit
Post by: meshugener on October 04, 2012, 11:38:03 PM
+1
Title: Re: Re: Store Credit Card to build credit
Post by: Thingywingy on October 05, 2012, 12:07:29 AM
Doesn't seem like people have much experience with this situation in general.
There have been many threads about people looking to build credit. I would think other people would have tried this option. To be clear, I don't believe your info to be wrong, just would prefer to hear it from more than one person. The credit history for this person is very iffy, and I don't wanna add a pull right now.
Title: Re: Getting Started
Post by: Racheli on November 09, 2012, 12:30:37 AM
First off, idk who this "kool deals" guy is but he's definitely not me! I'm not in this for cool shticks- I just wanted to do the responsible thing and start building a credit history asap.
Second, thank you for all of your advice; here's what worked/didnt work odor me:
I could not get a gap card
Icould not get a Target card

I DID GET A WELLS FARGO STUDENT CARD WITH 800 $ limit- the highest this branch ever heard of on this kind of card as a beginner....
I think the fact that I was an AU on my Dads card for like 6 months helped.... and this card is geared towards building credit so hopefully it will work!

thanks for all of your advice!!
Title: Re: Getting Started
Post by: rots5 on November 09, 2012, 02:09:29 AM
First off, idk who this "kool deals" guy is but he's definitely not me! I'm not in this for cool shticks- I just wanted to do the responsible thing and start building a credit history asap.
Second, thank you for all of your advice; here's what worked/didnt work odor me:
I could not get a gap card
Icould not get a Target card

I DID GET A WELLS FARGO STUDENT CARD WITH 800 $ limit- the highest this branch ever heard of on this kind of card as a beginner....
I think the fact that I was an AU on my Dads card for like 6 months helped.... and this card is geared towards building credit so hopefully it will work!

thanks for all of your advice!!

good luck then, and your input is always welcome on DDF
Title: Never had a credit card, where do I start so I can build credit?
Post by: tsqaure on November 16, 2012, 10:59:14 AM
I know, I know, no cc?! That sounds crazy :)

We've only used debit cards but would like to build credit. We're not huge spenders. Which credit card is best to get and why? Would like something that has a decent amount of perks too if possible. TIA.
Title: Re: Never had a credit card, where do I start so I can build credit?
Post by: sky121 on November 16, 2012, 11:02:36 AM
Do you have any credit history at all? You may want to start with a Gap card.
Title: Re: Never had a credit card, where do I start so I can build credit?
Post by: Yeki89 on November 16, 2012, 11:09:15 AM
any department store is easy, such as  gap, banana, macys and the like
Many recomend target.
If you get declined from these you can start with a secure card for a few months... then join us in the major league
Title: Re: Never had a credit card, where do I start so I can build credit?
Post by: tsqaure on November 16, 2012, 11:19:18 AM
Do you have any credit history at all? You may want to start with a Gap card.
Good q. I believe we once had debit cards that acted like credit cards. How best to find out though??

any department store is easy, such as  gap, banana, macys and the like
Many recomend target.
If you get declined from these you can start with a secure card for a few months... then join us in the major league
How quickly do store cards have to be paid off in order for it to reflect well? and define 'secure card' please :)
Title: Re: Never had a credit card, where do I start so I can build credit?
Post by: Yeki89 on November 16, 2012, 11:30:14 AM
http://www.capitalone.com/credit-cards/secured-mastercard/?Log=1&EventType=Link&ComponentType=T&LOB=MTS%3A%3ALCTMMQC4S&PageName=38&TargetLob=MTS%3A%3ALCTMMQC4S&TargetPageName=Secured+MasterCard+Details&referer=www.capitalone.com
Title: Re: Never had a credit card, where do I start so I can build credit?
Post by: shulemw on November 16, 2012, 11:41:40 AM
or try a secured citi card
Title: Re: Never had a credit card, where do I start so I can build credit?
Post by: tsqaure on November 16, 2012, 11:48:44 AM
Thanks. Why the Capital One card in specific (pros/cons) and what is a secured card?
Title: Re: Never had a credit card, where do I start so I can build credit?
Post by: MEIR613 on November 16, 2012, 11:49:19 AM
or try a secured citi card

I find a AU is the best method
Title: Re: Never had a credit card, where do I start so I can build credit?
Post by: meshugener on November 16, 2012, 12:03:14 PM
My 2 options (you would want to do both):
- add yourself as a 'joint' account holder to an existing -good standing- Chase card.
- Capital One Journey card.

Others may have different opinions/options, but that's mine. Take it or leave it.
Title: Re: Never had a credit card, where do I start so I can build credit?
Post by: LeeW on November 16, 2012, 12:16:00 PM
I find a AU is the best method

How does being a AU help build credit? Usually cc companies don't report every AU to the credit agencies.
Title: Re: Never had a credit card, where do I start so I can build credit?
Post by: MEIR613 on November 16, 2012, 12:18:39 PM
How does being a AU help build credit? Usually cc companies don't report every AU to the credit agencies.

Usually they do if they can match them up. For sure when you add their ssn they report.
Title: Re: Never had a credit card, where do I start so I can build credit?
Post by: AJK on November 16, 2012, 12:21:19 PM
My 2 options (you would want to do both):
- add yourself as a 'joint' account holder to an existing -good standing- Chase card.
- Capital One Journey card.

Others may have different opinions/options, but that's mine. Take it or leave it.

It's presumed that we can "take it or leave it."

It doesn't need to be mentioned every time you offer an opinion.
Title: Re: Never had a credit card, where do I start so I can build credit?
Post by: meshugener on November 16, 2012, 12:25:35 PM
Its my semi-tapatalk sig.
Title: Re: Never had a credit card, where do I start so I can build credit?
Post by: LeeW on November 16, 2012, 01:11:55 PM
Usually they do if they can match them up. For sure when you add their ssn they report.

I've been added as an AU to my work's business account, and I gave my SSN. I have yet to see it show up in any of the credit agencies.
Title: Re: Never had a credit card, where do I start so I can build credit?
Post by: meshugener on November 16, 2012, 01:17:08 PM
That's because a business account will not show up on a credit report, even for the primary account holder.
Title: Re: Never had a credit card, where do I start so I can build credit?
Post by: MEIR613 on November 16, 2012, 01:17:50 PM
I've been added as an AU to my work's business account, and I gave my SSN. I have yet to see it show up in any of the credit agencies.

I would say 2 things
1)Business could be different
2) YMMV
Title: Which credit card approves easily?
Post by: yankel55 on November 18, 2012, 03:23:46 PM
Looking to open CC, preferably with rewards. Was declined for Chase Sapphire last year and for Amex Gold this year due to insufficient

credit history. What's a good card and easy to gt, so I can build my credit?
Title: Re: Which credit card approves easily?
Post by: Yaalili on November 18, 2012, 03:39:50 PM
Citi Forward college card.
Title: Re: Which credit card approves easily?
Post by: meshugener on November 18, 2012, 03:45:59 PM
Capital One Journey card.
Title: Re: Which credit card approves easily?
Post by: JEWDA on November 18, 2012, 06:23:36 PM
Capital One Journey card.
Although I try not to +1 Meshugener, I'll have to do it this time.
+1
Title: Re: Which credit card approves easily?
Post by: Yaalili on November 18, 2012, 07:17:03 PM
Capital One Journey card.

Although I try not to +1 Meshugener, I'll have to do it this time.
+1

Do it only if u want a pull on all of ur credit reports.
Title: Re: Which credit card approves easily?
Post by: yankel55 on November 18, 2012, 07:20:13 PM
Which CC pulls only TransUnion?
Title: Re: Which credit card approves easily?
Post by: Yaalili on November 18, 2012, 07:21:02 PM
Which CC pulls only TransUnion?

Barclaycard Services
Title: Re: Which credit card approves easily?
Post by: meshugener on November 18, 2012, 09:02:36 PM
Depends on what state you live in.
But if you're referring to NY, BofA pulls TU.
Title: Re: Which credit card approves easily?
Post by: yankel55 on November 18, 2012, 09:08:37 PM
Good to know about BoA but since their Aeroplan transfer option is ending in Jan, I'll prob go with US Airways card from Barclays
Title: Re: Which credit card approves easily?
Post by: MEIR613 on November 18, 2012, 09:14:39 PM
Good to know about BoA but since their Aeroplan transfer option is ending in Jan, I'll prob go with US Airways card from Barclays

BOA has HA which is 35k transfer to hilton with a grand total of 140k(as AsherO said just by mistake double click the app:) )

Title: Noob: Need Beginner Card, Points/Rewards, Build Credit, Start This Week?
Post by: Gahus on November 18, 2012, 09:31:19 PM
Looking to open a credit card and get rewards/points for purchases.

What's a good card to start with that won't pull my credit score (or it doesn't matter since I have no credit) too much and lose point (how does that work), so I can build my credit history?  I have a ING Debit/CD accounts.  I believe ING were just bought (partially?) by Capital One.  I don't know if I get a Capital One account when they become official. 

Located in NYC (some people were asking, so if this helps :) ).

Would it be possible to apply and approved before Black Friday this Thursday?  Even if I don't get the card in the mail, can I pay with the CC# at the cashier?  (I know it's late...)


I'm a little wary about opening up cards, cause I don't want to ruin my credit if I forget to pay.  I know that by having no credit is no good in the long run as well.  Any tips/tricks to help would be great.
I have no CC, no credit.  I ran a credit score report a while back from top 3 companies and got back empty reports.


I hope I posted in the right place, I didn't see a beginner thread.

Thanx for your time and help!
Title: Re: Noob: Need Beginner Card, Points/Rewards, Build Credit, Start This Week?
Post by: CholentTheTraveler on November 18, 2012, 09:57:41 PM
Firstly welcome to DDF and I would suggest spending some time just reading through all the threads and posts that are here as there is indeed a wealth of information that can benefit you greatly moving forward.

If you have no credit at the moment the best thing to do is get added to a family members account. This will "lend" you a long standing credit history(depending on how good the person you are piggy backing off is).

You can sign up to sites such as creditkarma and creditsesame as well to monitor your credit somewhat and keep track to make sure it is going in the right direction.

The easiest card which would suck in terms of rewards would be a department store card(such as Macys) which is easier to be approved for or a discover card and from there over the coming months you can build up your credit history. This will help in more ways than you know(such as mortgage rates, car loans and even potentially employment).
Title: Re: Which credit card approves easily?
Post by: meshugener on November 18, 2012, 10:08:55 PM
If they approve you for the higher tier HA card. The lower one gets you a 10k bonus.
They do bait n switch.
Title: Re: Noob: Need Beginner Card, Points/Rewards, Build Credit, Start This Week?
Post by: Yeki89 on November 18, 2012, 11:50:37 PM
I like how you call yourselve a noob. !no credit card provider will tell you the credit card number over the phone, so good luck with that. What you can do is have them overnight the card. Chase/amex does it free bbarclay chages $18+ (not sure exact #) what i do to remember to pay is set all my duue dates on the same day, so if it is the 5th (lets say) so when the 1st comes around i know that i need to find $ to pay.... Good luck
Title: Re: Noob: Need Beginner Card, Points/Rewards, Build Credit, Start This Week?
Post by: netzih on November 19, 2012, 04:24:31 AM
Some credit cards will give you the number as soon as you are approved (e.g. Usaa credit cards and more)
Title: Re: Noob: Need Beginner Card, Points/Rewards, Build Credit, Start This Week?
Post by: mmermss on November 19, 2012, 06:47:04 AM
Some credit cards will give you the number as soon as you are approved (e.g. Usaa credit cards and more)
Via phone?

And what's "and more"?
Title: Re: Noob: Need Beginner Card, Points/Rewards, Build Credit, Start This Week?
Post by: Yeki89 on November 19, 2012, 08:33:10 AM
Please inform me... Chase/wellsfarg/amex/cap1/TD/ will not
Title: Re: Noob: Need Beginner Card, Points/Rewards, Build Credit, Start This Week?
Post by: netzih on November 19, 2012, 08:48:28 AM
No when approved online it tells me the cc info so I can immediatly use it for online purchases (though only upto a certain amount)
I'm not sure about others but I heard that there were others
Title: Re: Noob: Need Beginner Card, Points/Rewards, Build Credit, Start This Week?
Post by: Saver2000 on November 19, 2012, 09:15:52 AM
No when approved online it tells me the cc info so I can immediatly use it for online purchases (though only upto a certain amount)
I'm not sure about others but I heard that there were others
You're saying that you can see the whole cc number online?

Well, as yeki said, with most banks its not that way.
Title: Re: Noob: Need Beginner Card, Points/Rewards, Build Credit, Start This Week?
Post by: Gahus on November 19, 2012, 01:04:03 PM
..What you can do is have them overnight the card. Chase/amex does it free bbarclay chages $18+ (not sure exact #) what i do to remember to pay is set all my duue dates on the same day, so if it is the 5th (lets say) so when the 1st comes around i know that i need to find $ to pay.... Good luck

Thanks guys.

@Yeki89: I'm a noob, so it makes most sense to state it.

Which Chase is best to sign up for?  I see so many options when I go here: https://creditcards.chase.com/credit-card-search.aspx

"0% Intro APR† See Pricing and Terms link below. for 15 months and No Annual Fee†" 
Can I cancel or downgrade it after 15 months?

I tried piggy backing on my mom's card a while back, but never made any purchase but I had a card.  Is that recorded anywhere?

What's the best way to start?  Sign up on the website, over the phone?  Any direct links would be awesome!

Also, since I'm new I don't mind starting with a few on a few different browsers (IE/FF/Chrome).  I'm tech-savy, so this shouldn't be a problem, only the technique to use.

You can sign up to sites such as creditkarma and creditsesame as well to monitor your credit somewhat and keep track to make sure it is going in the right direction.

The easiest card which would suck in terms of rewards would be a department store card(such as Macys) which is easier to be approved for or a discover card and from there over the coming months you can build up your credit history. This will help in more ways than you know(such as mortgage rates, car loans and even potentially employment).
@CholentTheTraveler: I'm employed, but I'll need a mortgage one day.  I'll check out these websites, thanks for suggesting them.

I'm wary of all these 'Department store' cards.  I feel like i don't know enough and will get suckered into paying much more than the actual product cost me.  If its easiest to get approved then *maybe* I'll try it.  Right now if I want to rack up points for Black Friday purchases (online and in store) I need a card that won't rape me.

Shkoyach!
Title: Re: Noob: Need Beginner Card, Points/Rewards, Build Credit, Start This Week?
Post by: Saver2000 on November 19, 2012, 01:38:49 PM
@gahus
Your trying to get a cc that has a spend requirements (for a bonus amount of points),  or just a basic that'll earn you base points on your purchases?
Title: Re: Noob: Need Beginner Card, Points/Rewards, Build Credit, Start This Week?
Post by: Gahus on November 19, 2012, 02:23:15 PM
@gahus
Your trying to get a cc that has a spend requirements (for a bonus amount of points),  or just a basic that'll earn you base points on your purchases?

@Saver2000: Most important is to build my credit.  If its too confusing to handle and if I miss a payment and it'll ruin my credit in the long run, the points don't matter. 

If "bonus amount of points" means what I think: points for signing up/reaching a predetermined spending level (please correct me if I'm wrong) and the card isn't too confusing to manage (APR/APY, annual fee, no interest first X months, etc.). 

I'm assuming base points are points per each purchase with no incentives to spend X amount of dollars.

I prefer the card with more points/miles options, this way i can benefit from my transactions.

Also, a CC that I can sign up tonight and get the card in the mail in a day or two.

Shkoyach!
Title: Re: Noob: Need Beginner Card, Points/Rewards, Build Credit, Start This Week?
Post by: meshugener on November 19, 2012, 02:36:14 PM
Apply for the Capital One Journey card.
Very easy approval, 1.25% cashback, no foreign transaction fee.
Title: Re: Noob: Need Beginner Card, Points/Rewards, Build Credit, Start This Week?
Post by: Dan on November 19, 2012, 02:41:06 PM
Along with 3 credit pulls.

Personally I started by becoming an AU on a good card and getting a Gap card and within a couple months I was good to go.
Title: Re: Noob: Need Beginner Card, Points/Rewards, Build Credit, Start This Week?
Post by: Gahus on November 19, 2012, 02:46:54 PM
Along with 3 credit pulls.

Personally I started by becoming an AU on a good card and getting a Gap card and within a couple months I was good to go.

@Dan: Can you explain the credit pulls. I think its for them to pull all your credit reports: TransUnion, Experian, Equifax. 
Am I right?  Is there a way to influence it, ie. how do I know if they're doing 3 pulls?

Apply for the Capital One Journey card.
Very easy approval, 1.25% cashback, no foreign transaction fee.

@meshugener: Do/did you have the Capital One Journey card?  What's the benefit of chashback and is there a high spending limit?

Shkoyach!
Title: Re: Noob: Need Beginner Card, Points/Rewards, Build Credit, Start This Week?
Post by: bubbles on November 19, 2012, 02:53:16 PM
Along with 3 credit pulls.



do you think that makes a difference to him at this point?
Title: Re: Noob: Need Beginner Card, Points/Rewards, Build Credit, Start This Week?
Post by: Saver2000 on November 19, 2012, 02:54:51 PM
@Saver2000: Most important is to build my credit.  If its too confusing to handle and if I miss a payment and it'll ruin my credit in the long run, the points don't matter. 

If "bonus amount of points" means what I think: points for signing up/reaching a predetermined spending level (please correct me if I'm wrong) and the card isn't too confusing to manage (APR/APY, annual fee, no interest first X months, etc.). 

I'm assuming base points are points per each purchase with no incentives to spend X amount of dollars.

I prefer the card with more points/miles options, this way i can benefit from my transactions.

Also, a CC that I can sign up tonight and get the card in the mail in a day or two.

Shkoyach!
Okay here goes -

If you don't have any credit, you gotta start small. That means starting with a card that you don't really like/dont have any use for/doesn't earn (worthwhile) points.

An example of a card like that would be a store card. E.g. gap, target, macy's, etc.

The reason for this, is bec generally those cards are much easier to get approved for than a regular bank credit card - especially one that earns decent points.

There are regular bank cards that are relatively easy to get approved for, but they may not be your best option as far your credit report is concerned.

For example, the crap1 cc that meshugener mentioned is easy to get approved for, but they pull from all 3 credit bureaus - which is not something a beginner wants on their profile.

If your a student, you try for the citi student card. (But then again, it won't earn too much in regards to points)

Another option for building credit - which was mentioned a few times in this thread - is piggybacking.

In summary: Its not realistic to think you could build credit in a half a week, although it is possible to get approved for a starter card so you can get your black friday shopping done  :)

Hope this helps.
Good luck
Title: Re: Noob: Need Beginner Card, Points/Rewards, Build Credit, Start This Week?
Post by: Gahus on November 19, 2012, 03:44:42 PM
Okay here goes -

If you don't have any credit, you gotta start small. That means starting with a card that you don't really like/dont have any use for/doesn't earn (worthwhile) points.

@Saver2000: Based on what you said, since I plan to be shopping at Staples, would you suggest the Staples/BestBuy/WalMart CC? http://www.staples.com/sbd/cre/programs/credit/
Are they going to rape me if I use it elsewhere, or are the terms the same as long as I make the payments?

If your a student, you try for the citi student card. (But then again, it won't earn too much in regards to points)

@Saver2000: I plan on going back for grad school in the near future, this year or next.  I'll keep these kinds of cards in mind.  Maybe I'm still a student since I never graduated? (Just thinking out loud)

I'll try to piggyback as AU on my brother's CC, but he might not agree - can I hurt his credit or are they totally separate?


Helps alot, Thanks everyone!

Title: Re: Noob: Need Beginner Card, Points/Rewards, Build Credit, Start This Week?
Post by: meshugener on November 19, 2012, 06:25:33 PM
First of all you should be getting treatment for OCD/rape anxiety.
Title: Re: Noob: Need Beginner Card, Points/Rewards, Build Credit, Start This Week?
Post by: AsherO on November 19, 2012, 11:17:30 PM
Along with 3 credit pulls.

Freezing will mitigate that, reportedly works with cr@p1

First of all you should be getting treatment for OCD/rape anxiety.

Ouch...
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: Thingywingy on January 01, 2013, 03:28:12 PM
Thanks meshugner for joint info. How long should you have joint for before applying for own card? Also from the choices at Chase are certain cards more difficult for someone with little credit?
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: mmermss on January 01, 2013, 03:37:21 PM
Thanks meshugner for joint info. How long should you have joint for before applying for own card? Also from the choices at Chase are certain cards more difficult for someone with little credit?
There are certain cards that require a min 5k CL to get it approved ( i think all signature cards).  Some dont need that min (freedom) so it might be easier to get approved for a card that does not need a min 5k.
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: Thingywingy on January 01, 2013, 03:39:12 PM
I believe ba is signature. Is that correct? What about Saphire? United?
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: mmermss on January 01, 2013, 03:43:33 PM
I believe ba is signature. Is that correct? What about Saphire? United?
SP is.  On Chase website it shows BA and United to be signatures too...which is weird because I have the United less than 5k.  ???
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: meshugener on January 01, 2013, 07:00:31 PM
SP is.  On Chase website it shows BA and United to be signatures too...which is weird because I have the United less than 5k.  ???
UAClub - $8k
Hyatt - $5k
SP - $5k
Sapphire - ?
SW Premier - ?
UA - $2k
BA - $2k
SW Plus - $2k
Freedom - $500
Slate - $400

Post your own recent experience. I've had a UA approved with $500, but the official rules are recently enforced.
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: Thingywingy on January 01, 2013, 07:30:41 PM
So what card do you reccomend for someone with little credit history? Also I did your joint card holder thing. How long should one wait afte becoming joint cardholder to apply for own card?
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: SGF on January 01, 2013, 08:31:45 PM
UAClub - $8k
Hyatt - $5k
SP - $5k
Sapphire - ?
SW Premier - ?
UA - $2k
BA - $2k
SW Plus - $2k
Freedom - $500
Slate - $400

Post your own recent experience. I've had a UA approved with $500, but the official rules are recently enforced.
United signature requires $5k and non signature -same benefits- $500, they approved me with $1k
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: meshugener on January 01, 2013, 08:42:43 PM
they approved me with $1k
How recent?
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: SGF on January 01, 2013, 09:16:54 PM
How recent?
April '12.
in Aug. I cut it down to $500
They told me minimum is $500
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: nutcase on January 01, 2013, 09:22:52 PM
UAClub - $8k
Hyatt - $5k
SP - $5k
Sapphire - ?
SW Premier - ?
UA - $2k
BA - $2k
SW Plus - $2k
Freedom - $500
Slate - $400
priority club - $2k
Post your own recent experience. I've had a UA approved with $500, but the official rules are recently enforced.


priority club - $2k
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: meshugener on January 01, 2013, 09:43:08 PM
@SGF:
That doesn't count. I was approved with a $500 limit in the summer of '12.
They're enforcing it in the past 2 months.
And lowering the limit after approval is another thing. I lowered my SP below $5K.
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: SGF on January 01, 2013, 10:19:18 PM
April '12.
in Aug. I cut it down to $500
They told me minimum is $500
Could be it changed since then, I didn't follow up.
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: Thingywingy on January 02, 2013, 03:27:21 PM
Anybody with a recent UA approval with low Credit Limit? Or any other Chase cards?
Title: Re: Never had a credit card, where do I start so I can build credit?
Post by: Miracle on January 06, 2013, 08:36:43 AM
I find a AU is the best method

Chase told me that the AU method does not help at all. Proof was when I tried getting my wife credit cards but she had NO FILES! She was an AU on my cards. I explained that to them, but they said AU doesn't help.
Title: Re: Never had a credit card, where do I start so I can build credit?
Post by: rots5 on January 06, 2013, 08:40:55 AM
My 2 options (you would want to do both):
- add yourself as a 'joint' account holder to an existing -good standing- Chase card.
- Capital One Journey card.

Others may have different opinions/options, but that's mine. Take it or leave it.

why a capitol one card? dont we sty far away from those?
also i usually tell ppl get a mastercard 5% cash back student card
Title: Re: Never had a credit card, where do I start so I can build credit?
Post by: meshugener on January 06, 2013, 09:29:11 AM
Because the Journey card is VERY easy to get approved for.
Title: Re: Never had a credit card, where do I start so I can build credit?
Post by: rots5 on January 06, 2013, 09:51:25 AM
Because the Journey card is VERY easy to get approved for.

But then u gotta lay low longer from getting more cards bec of the 3 hard pulls
Title: Re: Never had a credit card, where do I start so I can build credit?
Post by: MEIR613 on January 06, 2013, 11:26:28 AM
Chase told me that the AU method does not help at all. Proof was when I tried getting my wife credit cards but she had NO FILES! She was an AU on my cards. I explained that to them, but they said AU doesn't help.
Was her Ssn added to her account when you made her an au?

But then u gotta lay low longer from getting more cards bec of the 3 hard pulls
Not such a big deal for most. since anyways no one really pulls eq and in the beginning you do whatever you could to get your first card.
Title: Never had a credit card, where do I start so I can build credit?
Post by: bubbles on January 06, 2013, 12:06:31 PM
Not such a big deal for most. since anyways no one really pulls eq and in the beginning you do whatever you could to get your first card.

+1

Not sure what's the big deal getting a cap1 as your first card. You're not going to be freezing your reports for awhile anyway. Plus chances are you need to wait a few months before applying for your next card(s) either way.
Title: Re: Never had a credit card, where do I start so I can build credit?
Post by: DJE on January 07, 2013, 09:19:56 AM
Try the Capital One Journey card as mentioned. Its easy to get aproved for it. Its meant for people with little or no credit.
Title: Re: Never had a credit card, where do I start so I can build credit?
Post by: Dan on January 07, 2013, 12:17:07 PM
Try the Capital One Journey card as mentioned. Its easy to get aproved for it. Its meant for people with little or no credit.
And will cost you 3 credit pulls.
There are better ways to build credit.
Title: Re: Never had a credit card, where do I start so I can build credit?
Post by: Got a clue on January 07, 2013, 12:42:09 PM
Dan what do you suggest?
Title: Re: Never had a credit card, where do I start so I can build credit?
Post by: mmermss on January 07, 2013, 12:43:11 PM
Dan what do you suggest?
Be an AU with some one who has good credit or start with store cards like Macys and GAP
Title: Re: Never had a credit card, where do I start so I can build credit?
Post by: Got a clue on January 07, 2013, 12:45:57 PM
If your an AU do you have to give a ss number? Bec I called chase to add my wife (she got her own card) but dont remember them askin for ss #- does that mean she isnt getting any credit?
Title: Re: Never had a credit card, where do I start so I can build credit?
Post by: Saver2000 on January 07, 2013, 12:46:24 PM
Chase told me that the AU method does not help at all. Proof was when I tried getting my wife credit cards but she had NO FILES! She was an AU on my cards.  I explained that to them, but they said AU doesn't help.
:o
Title: Re: Never had a credit card, where do I start so I can build credit?
Post by: SGF on January 07, 2013, 10:04:43 PM
If your an AU do you have to give a ss number? Bec I called chase to add my wife (she got her own card) but dont remember them askin for ss #- does that mean she isnt getting any credit?
there's no need to add a SS thats why they won't ask but you can offer and then they'll add it for you.
Title: My first Credit Card??
Post by: Pesach Sorscher on January 09, 2013, 12:06:50 AM
Hi Im looking to get my first credit card but i dont have any credit, does anybody know what i can get approved for with the most benefits?
Title: Re: My first Credit Card??
Post by: george on January 09, 2013, 12:09:10 AM
are you a student? if yes, the Discover More student card earns 5% cashback on rotating categories. otherwise try a store card like Gap.
Title: Re: My first Credit Card??
Post by: Pesach Sorscher on January 09, 2013, 12:10:53 AM
yes im a student, but id rather not get the discover card as a lot of stores do not take it
Title: Re: My first Credit Card??
Post by: george on January 09, 2013, 12:16:36 AM
yes im a student, but id rather not get the discover card as a lot of stores do not take it
you say you don't have any credit. if that's the case, chances are slim you will get approved for a popular card like freedom etc.  You will get a approved for a student card, however. Then, after a few months of having the student card in good standing and with low credit utilization, you should be in a much better position to apply for a freedom mastercard or visa.
Title: Re: My first Credit Card??
Post by: ytsadok on January 09, 2013, 11:42:41 AM
if my wife has very good credit and I have no credit is there a way for me to get a card in her name and my name thereby building my credit too?
Title: Re: My first Credit Card??
Post by: noturbizniss on January 09, 2013, 11:45:02 AM
if my wife has very good credit and I have no credit is there a way for me to get a card in her name and my name thereby building my credit too?
If you are added as an authorized user then i believe your credit score will benefit from proper usage and on time payment
Title: Re: My first Credit Card??
Post by: Lou Bob on January 09, 2013, 01:41:00 PM
yes im a student, but id rather not get the discover card as a lot of stores do not take it
Wells Fargo student card. Nothing special in the card, just a credit builder.
Easy to get accepted for it.
Title: Re: My first Credit Card??
Post by: hocker on January 09, 2013, 02:54:19 PM
Wells Fargo student card. Nothing special in the card, just a credit builder.
East to get accepted for it.
I would advise you also go for the Citi Forward Student card.
Title: Re: My first Credit Card??
Post by: YT on January 09, 2013, 03:08:15 PM
If you are added as an authorized user then i believe your credit score will benefit from proper usage and on time payment

So should i do a 2 or 3bm using her name? which card(s) should i start out with? I basically only want to use the card(s) through amazon payments - would that still build my credit if i send a total of around $1000 each month or does using AP not build my credit?
I've done ALOT of research in the forums before posting this im just new and its a lil complicated at first.
 Thanks in advance
Title: Re: My first Credit Card??
Post by: Lou Bob on January 09, 2013, 03:11:13 PM
So should i do a 2 or 3bm using her name? which card(s) should i start out with? I basically only want to use the card(s) through amazon payments - would that still build my credit if i send a total of around $1000 each month or does using AP not build my credit?
I've done ALOT of research in the forums before posting this im just new and its a lil complicated at first.
 Thanks in advance
AP has nothing to do with building credit. Its how much % of ur available credit that u use, its if u pay back on time every month. But where u charge ur cc makes no diff
Title: Re: My first Credit Card??
Post by: Achas Veachas on January 09, 2013, 03:11:28 PM
AP is cosidered spending like any other spend, but beware. if you are going to get Amex and use it only for AP most here would advise that it would not be a good idea...
Title: Re: My first Credit Card??
Post by: YT on January 09, 2013, 04:01:15 PM
@Achas Veachas I know thanks ive read that they will call you up on it. I was wondering if I would use AP like this:
September 1st send $360
september 14th send $513
September 23rd-  send $127

t/f i spent a total of $1000 throughout the month but not on one charge. Do you think AMEX would still call someone out for that?

Also so which card(s) should i start out with? SPG? one of the Ink cards?
Title: Re: My first Credit Card??
Post by: mmermss on January 09, 2013, 04:03:46 PM
@Achas Veachas I know thanks ive read that they will call you up on it. I was wondering if I would use AP like this:
September 1st send $360
september 14th send $513
September 23rd-  send $127

t/f i spent a total of $1000 throughout the month but not on one charge. Do you think AMEX would still call someone out for that?

Also so which card(s) should i start out with? SPG? one of the Ink cards?
Its YMMV with Amex..more to the side of an F/R.

If your going to be doing alot of AP- Why not go for 2-3 Chase cards first?

Hows your score?

Do you currently have any other CC's?
Title: Re: My first Credit Card??
Post by: YT on January 09, 2013, 04:18:44 PM
So ive tried looking all over but the F/R abbreviation isnt on the wiki....whats F/R mean  :P

I dont have any other cards and I dont have a score I was planning on being an authorized user with my wife because she has very good score t/f eventually building my credit to let me get my own cards.

I'm a little hesitant to get more than one card because I dont fully understand how to only use AP while meeting 3 spending thresholds for the 3 cards. I thought you can only spend max $1000 on AP? How do you get multiple AP accounts if you have to put in your SSN for the account? wouldnt they pick up that 3 accounts have the same SSN?
i.e. - can you please explain how i would have 3 cards while meeting each spending threshold while only using AP?
And which chase cards would you recommend?
Title: Re: My first Credit Card??
Post by: mmermss on January 09, 2013, 04:30:18 PM
So ive tried looking all over but the F/R abbreviation isnt on the wiki....whats F/R mean  :P

I dont have any other cards and I dont have a score I was planning on being an authorized user with my wife because she has very good score t/f eventually building my credit to let me get my own cards.

I'm a little hesitant to get more than one card because I dont fully understand how to only use AP while meeting 3 spending thresholds for the 3 cards. I thought you can only spend max $1000 on AP? How do you get multiple AP accounts if you have to put in your SSN for the account? wouldnt they pick up that 3 accounts have the same SSN?
i.e. - can you please explain how i would have 3 cards while meeting each spending threshold while only using AP?
And which chase cards would you recommend?

This (http://forums.dansdeals.com/index.php?topic=23990.0) wiki has many important discussions you should read

This (http://forums.dansdeals.com/index.php?topic=8.0) thread discusses what an F/R is.  Search there and read the wiki.

This (http://forums.dansdeals.com/index.php?topic=3524.0) thread disccuses all about AP.  Search there and read the wiki.

So are you currently an AU on your wifes card?
For how long?
Do you not spend any money on anything that all your CC spending will have to be done via AP?
Title: Re: My first Credit Card??
Post by: YT on January 10, 2013, 12:57:42 AM
thanks so much.

and I'm not an AU with my wife yet I just was told on this thread that being an AU of my wife (who has great credit) will get my foot in the door to eventually allow me to get my own cards.

we don't technically need credit cards yet were fine using our paychecks but I want to use the credit cards to build credit for the future t/f I want to pretty much get a credit card and not have to spend my own money I.e. AP
Title: Re: My first Credit Card??
Post by: YT on January 10, 2013, 09:03:15 AM
This (http://forums.dansdeals.com/index.php?topic=23990.0) wiki has many important discussions you should read

This (http://forums.dansdeals.com/index.php?topic=8.0) thread discusses what an F/R is.  Search there and read the wiki.

This (http://forums.dansdeals.com/index.php?topic=3524.0) thread disccuses all about AP.  Search there and read the wiki.

So are you currently an AU on your wifes card?
For how long?
Do you not spend any money on anything that all your CC spending will have to be done via AP?

Thanks I read the links. When you said to just get chase cards would that get rid of the F/R or does every bank do that?
Title: Re: My first Credit Card??
Post by: mmermss on January 10, 2013, 09:37:09 AM
Thanks I read the links. When you said to just get chase cards would that get rid of the F/R or does every bank do that?
Chase does not have an F/R,  They whats called an A/A= Adverse Action.  You can read about it here (http://forums.dansdeals.com/index.php?topic=11216.0).  AP does not trigger an A/A with Chase.
Title: Re: My first Credit Card??
Post by: YT on January 10, 2013, 03:14:06 PM
K great so im going to 2BM two different cards which chase cards should i apply for? I have Chase Checking btw, ive read around that having a checking account might be beneficial....
TIA
Title: Re: My first Credit Card??
Post by: mmermss on January 10, 2013, 03:18:16 PM
K great so im going to 2BM two different cards which chase cards should i apply for? I have Chase Checking btw, ive read around that having a checking account might be beneficial....
TIA

Again..sorry I'm not following it so much.

Is it for you or wife?

First you need to be an AU on her cards for a while, then you apply for cards for yourself.  Once you have good credit you can go for a freedom and SP
Title: Re: My first Credit Card??
Post by: YT on January 12, 2013, 01:19:59 PM
My bad:

I'm thinking of getting two starwoods ( one each for my wife and me) because i was told they approve most people if theres no hot deal going on (so that would be good for me) and another for my wife because Im reading that SPG is a great card in general.
Since I'm in Israel now for the year and i cant do the bluebird/vanilla reload card and i want to stick to trying to not actually spend money so im bound pretty much to AP right now till i get back to america in the summer.
Good idea?
Also is there any benefit to me applying through the dansdeals link then just applying?
Title: Re: My first Credit Card??
Post by: MEIR613 on January 12, 2013, 01:24:29 PM
My bad:

I'm thinking of getting two starwoods ( one each for my wife and me) because i was told they approve most people if theres no hot deal going on (so that would be good for me) and another for my wife because Im reading that SPG is a great card in general.
Since I'm in Israel now for the year and i cant do the bluebird/vanilla reload card and i want to stick to trying to not actually spend money so im bound pretty much to AP right now till i get back to america in the summer.
Good idea?
Also is there any benefit to me applying through the dansdeals link then just applying?
1) AP is a FR trigger. 

2) Applying through dansdeals link supports the site where you get all this valuable info from.
Title: Re: My first Credit Card??
Post by: mmermss on January 12, 2013, 01:30:15 PM
My bad:

I'm thinking of getting two starwoods ( one each for my wife and me) because i was told they approve most people if theres no hot deal going on (so that would be good for me) and another for my wife because Im reading that SPG is a great card in general.
Since I'm in Israel now for the year and i cant do the bluebird/vanilla reload card and i want to stick to trying to not actually spend money so im bound pretty much to AP right now till i get back to america in the summer.
Good idea?
Also is there any benefit to me applying through the dansdeals link then just applying?

If you dont have any cards currently then I would suggest you build your credit by being an AU on your wifes cards a bit.  SPG is a great card but while shes going to be getting a hard pull might as well apply for another Amex card for example the Plat or PRG.  Or go for Chase cards...SP and Freedom or United Explorer..not at same time as going for Amex

There is a benefit by applying through DD links as it supports the site thats helping you out  :)
Title: Re: My first Credit Card??
Post by: YT on January 12, 2013, 01:45:04 PM
@MEIR613 - i hear that im going to get SPG in the summer when i could use it not just for AP and when SPG is offering better signup deals. Thanks

@mmermss- thanks so much for walking me through this is have a much better understanding of all this now.

Title: Re: My first Credit Card??
Post by: mmermss on January 12, 2013, 04:00:12 PM
@mmermss- thanks so much for walking me through this is have a much better understanding of all this now.
YW
GL  :)
Title: Re: My first Credit Card??
Post by: Barryg on January 12, 2013, 08:44:57 PM
Another way to start is becoming authorized user on parents' cc (one that they have low utilization). That will help u build credit very quickly, even if they don't give you the card that comes in mail...
Title: Re: credit card for beginers
Post by: YakovT on January 13, 2013, 02:32:49 AM
I finally got into chase (freedom a month ago). Tried for the amex platinum last week for the 100k but got denied. 2 questions. How long to wait for to go for another chase? And how do i get into amex? Prepaid?
Title: Re: credit card for beginers
Post by: MEIR613 on January 13, 2013, 03:59:51 AM
I finally got into chase (freedom a month ago). Tried for the amex platinum last week for the 100k but got denied. 2 questions. How long to wait for to go for another chase? And how do i get into amex? Prepaid?
Wait another 5 - 7 months. Then do a 2bm with chase and Amex.  With chase you can call recon and you should at least get one card. Hopefully for Amex too. Try to get someone whose had a cc for a long time an AU for you.

If you want to be safe skip the Amex and wait another 3 months.
Title: Re: credit card for beginers
Post by: YakovT on January 13, 2013, 07:27:01 AM
thanks. my credit score is 717 (freecreditreport.com) wouldn't that be high enough (for at least their lowest card) and all amex would want to see is history? 5-7 is awfully long
Title: Re: credit card for beginers
Post by: YT on January 17, 2013, 03:08:40 AM
Q- so I applied for my wife the chase SP and the chase United club 2bm and both browsers said they will get to us in about 10 days after they evaluate our case. does that generally mean they won't accept us? or if there is a. of getting accepted is there something we can do to speed up the process?
Title: credit card for beginers
Post by: lcyitz on January 17, 2013, 03:35:50 AM
Q- so I applied for my wife the chase SP and the chase United club 2bm and both browsers said they will get to us in about 10 days after they evaluate our case. does that generally mean they won't accept us? or if there is a. of getting accepted is there something we can do to speed up the process?
Wait, or if you don't want to wait call reconsideration and try to get approved.
Title: Re: credit card for beginers
Post by: rots5 on January 17, 2013, 07:08:14 AM
Q- so I applied for my wife the chase SP and the chase United club 2bm and both browsers said they will get to us in about 10 days after they evaluate our case. does that generally mean they won't accept us? or if there is a. of getting accepted is there something we can do to speed up the process?

i would call recon asap - every day!
Title: Re: credit card for beginers
Post by: YT on January 17, 2013, 08:21:26 AM
If they say they will get back to me in ten. daysodes that generally mean they will reject me?

and lets say I do call wouldn't they see that I applied for two cards?
Title: Re: credit card for beginers
Post by: mmermss on January 17, 2013, 08:24:25 AM
If they say they will get back to me in ten. daysodes that generally mean they will reject me?

and lets say I do call wouldn't they see that I applied for two cards?
No. 

First get each apps confirmation number. Then call back again giving them one confirmation number.  This is not a guarantee they will not see the others but it will help. 
Title: credit card for beginers
Post by: lcyitz on January 17, 2013, 01:33:42 PM
Might be called application number....
Title: Re: credit card for beginers
Post by: mmermss on January 17, 2013, 01:37:07 PM
Might be called application number....

Yup...think your correct  :-[
Title: Re: credit card for beginers
Post by: YT on January 17, 2013, 01:56:12 PM
anyone have a linky for what to say during this recon convo?
Title: Re: credit card for beginers
Post by: mmermss on January 17, 2013, 03:18:57 PM
anyone have a linky for what to say during this recon convo?

No such link (AFAIK).  Tell them your a great customer...all the benefits of the card.  Just sound confident.
Title: No credit history
Post by: maskim on January 20, 2013, 09:34:54 AM
My wife for whatever reason does not have any of her own credit cards when I tried getting her a sapphire card they said no for that reason I then asked for her to be put as an au with her social on my account but it got very complicated birth certificate etc. so I was wondering is there any way I can get her a decent credit card not one of these college cards thanks in advance
Title: Re: No credit history
Post by: meshugener on January 20, 2013, 09:42:39 AM
Capital One Journey.
Next time, please search.
Title: Re: No credit history
Post by: HelpMe on January 20, 2013, 09:46:08 AM
Nothing wrong with college cards. Do you have any other cards to add her own as an AU?
Title: Re: No credit history
Post by: nutcase on January 20, 2013, 09:56:21 AM
My wife for whatever reason does not have any of her own credit cards when I tried getting her a sapphire card they said no for that reason I then asked for her to be put as an au with her social on my account but it got very complicated birth certificate etc. so I was wondering is there any way I can get her a decent credit card not one of these college cards thanks in advance
maybe try secure credit card for a few months here is a good link
https://www.openskycc.com/pages/applicationscreen1.aspx?NID=1655&CID=20130020-30356a3f486d322f570e&sid=lpbbf&gclid=CLCnjtiY97QCFQVnOgoduCwASQ
Title: Re: No credit history
Post by: HelpMe on January 20, 2013, 10:00:47 AM
maybe try secure credit card for a few months here is a good link
https://www.openskycc.com/pages/applicationscreen1.aspx?NID=1655&CID=20130020-30356a3f486d322f570e&sid=lpbbf&gclid=CLCnjtiY97QCFQVnOgoduCwASQ
It has an AF of $50. They are going to charge you to hold your money?
Title: No credit history
Post by: bubbles on January 20, 2013, 10:06:15 AM
Capital One Journey.
Next time, please search.

+1
Title: Re: No credit history
Post by: nutcase on January 20, 2013, 10:33:32 AM
+1
Might be worth $50 there is no hard pull.
But capitol one pulls all 3.
Title: No credit history
Post by: bubbles on January 20, 2013, 10:37:43 AM
Might be worth $50 there is no hard pull.
But capitol one pulls all 3.

I've asked this before but got no response. What is the big deal about getting 3 pulls (1 on each bureau and not 3 pulls on one) if you don't plan on freezing or even churning at all within the next few months? I would imagine most people who get their first card wait a few months before starting to churn no?
Title: Re: No credit history
Post by: nutcase on January 20, 2013, 10:41:09 AM
I've asked this before but got no response. What is the big deal about getting 3 pulls (1 on each bureau and not 3 pulls on one) if you don't plan on freezing or even churning at all within the next few months? I would imagine most people who get their first card wait a few months before starting to churn no?
Most cards pull 1 report. Do you think 3 different credit lines is better then 1 capital one.  3 accounts help a thin credit file.
Title: No credit history
Post by: bubbles on January 20, 2013, 10:51:08 AM
Most cards pull 1 report. Do you think 3 different credit lines is better then 1 capital one.  3 accounts help a thin credit file.

Do you think he is finding three different lines to get approved for right away that each pull from a different bureau?
Title: Re: No credit history
Post by: nutcase on January 20, 2013, 10:55:06 AM
Do you think he is finding three different lines to get approved for right away that each pull from a different bureau?
Yup if he does some research first there are store cards..aka target red card..among others.  To jump to a sp is kinda pointless. We could have told him he was wasting a hard inq. Btw he should check her credit report. Besides being thin could be some negative stuff. I.e unpaid medical etc.
Title: Re: No credit history
Post by: HelpMe on January 20, 2013, 11:16:31 AM
I've asked this before but got no response. What is the big deal about getting 3 pulls (1 on each bureau and not 3 pulls on one) if you don't plan on freezing or even churning at all within the next few months? I would imagine most people who get their first card wait a few months before starting to churn no?
There really is no big deal. Some have the mindset that inquires are the kiss of death. If they feel that way they can always B* TU & EQ and ask a certain member about his EX trick if it still works.
Title: No credit history
Post by: bubbles on January 20, 2013, 11:17:29 AM
Yup if he does some research first there are store cards..aka target red card..among others.  To jump to a sp is kinda pointless. We could have told him he was wasting a hard inq. Btw he should check her credit report. Besides being thin could be some negative stuff. I.e unpaid medical etc.

I agree the SP wasn't the best move but I'm asking why not go for the cap1 which has a very high success rate for first cards over your suggestion of a secured card with an annual fee
Title: Re: No credit history
Post by: nutcase on January 20, 2013, 01:05:18 PM
I agree the SP wasn't the best move but I'm asking why not go for the cap1 which has a very high success rate for first cards over your suggestion of a secured card with an annual fee
Not saying its better option just imho secured is garantee and no inq. Imho worth $50 also crap one is the devil.. If you mess up...
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: Thingywingy on February 07, 2013, 03:49:42 PM
I manage the accounts for a relative with little credit history. They have had a target credit card for about 6 months. I also added them as a joint cardholder on one of my account. How long should they wai before applying? What card would you recommend (for a 1st timer)? In October 2012 I their cedit score was 724 but they still di not get approved for Freedom card because of too little history. (They have been living outside the U.S. for over 40 years)
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: bubbles on February 07, 2013, 06:34:57 PM
To quote meshug "cap1 journey"
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: Thingywingy on February 07, 2013, 10:41:35 PM
Huh?
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: bubbles on February 07, 2013, 10:44:32 PM
Huh?

A very easy card for someone with zero credit history to get approved for is the capital one journey card
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: Thingywingy on February 09, 2013, 09:32:47 PM
I thought its better to avoid Capital One cuz they pull from all 3 agencies. Also I would really like to get them a card with a decent signup bonus.
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: Thingywingy on February 13, 2013, 04:42:50 PM
So far they are a Joint Cardholder for about 3 months. Is that ling enough to give a bump to their score?
Title: Re: Credit card for older relative with Thin credit file best way to go?
Post by: Thingywingy on February 14, 2013, 01:22:24 PM
United signature requires $5k and non signature -same benefits- $500, they approved me with $1k
There are 2 seperate United Cards? Signature and non-signature?
Title: Building credit for those who cant get a credit card
Post by: jwilliams1 on April 09, 2013, 04:45:39 PM
I keep getting rejected for the most basic credit cards ( store, regular etc.) Are there any recommended Pre-Paid Credit cards I can get in order to build credit so i can get credit cards.
Does anyone know that order i should follow?
Title: Re: Building credit for those who cant get a credit card
Post by: raphy781 on April 09, 2013, 05:48:49 PM
I keep getting rejected for the most basic credit cards ( store, regular etc.) Are there any recommended Pre-Paid Credit cards I can get in order to build credit so i can get credit cards.
Does anyone know that order i should follow?
Apply for a secured credit card. It's fairly easy to get approved for one. (You are given a credit limit based on a security deposit, and the deposit limits the company's exposure if you don't pay your bill)
Title: Re: Building credit for those who cant get a credit card
Post by: dans fan on April 10, 2013, 12:12:28 AM
I keep getting rejected for the most basic credit cards ( store, regular etc.) Are there any recommended Pre-Paid Credit cards I can get in order to build credit so i can get credit cards.
Does anyone know that order i should follow?
welcome to the forums. about 50 threads here discuss this please search
Title: Re: Building credit for those who cant get a credit card
Post by: Marco Polo on April 10, 2013, 09:16:30 AM
Apply for a secured credit card. It's fairly easy to get approved for one. (You are given a credit limit based on a security deposit, and the deposit limits the company's exposure if you don't pay your bill)
+1
This is what i had to do when i first wanted to get one.
Title: Re: Building credit for those who cant get a credit card
Post by: dovy2 on April 10, 2013, 11:09:46 AM
cap1 gives a card pretty easy
Title: Re: Building credit for those who cant get a credit card
Post by: bubbles on April 10, 2013, 11:12:00 AM
cap1 gives a card pretty easy

+1

I know plenty of people who got approved for the journey card after failing to get approved for many other cards
Title: Re: Building credit for those who cant get a credit card
Post by: meshugener on April 10, 2013, 02:19:33 PM
cap1 gives a card pretty easy
+1
Especially with the Journey.
Title: Re: Building credit for those who cant get a credit card
Post by: Dan on April 10, 2013, 02:23:21 PM
Rather than burn 3 pulls on Crap1 just become an AU and get a valuable store card like Gap or Target IMHO before getting a card like SPG or Freedom.

./02
Title: Re: Building credit for those who cant get a credit card
Post by: meshugener on April 10, 2013, 02:28:03 PM
Rather than burn 3 pulls on Crap1 just become an AU and get a valuable store card like Gap or Target IMHO before getting a card like SPG or Freedom.

./02
AU is not sufficient. You need to be either an individual account holder or a joint.
./experience
Title: Re: Building credit for those who cant get a credit card
Post by: mmermss on April 10, 2013, 02:32:42 PM
Rather than burn 3 pulls on Crap1 just become an AU and get a valuable store card like Gap or Target IMHO before getting a card like SPG or Freedom.

./02
But as I think bubbles once asked....a person getting a cap1 card has no credit. So that means he probably won't be applying for another card for at least ~6 months. By that time does it make that much of a difference he got 3 pulls for building his credit?
Title: Re: Building credit for those who cant get a credit card
Post by: raphy781 on April 10, 2013, 02:42:22 PM
But as I think bubbles once asked....a person getting a cap1 card has no credit. So that means he probably won't be applying for another card for at least ~6 months. By that time does it make that much of a difference he got 3 pulls for building his credit?
+1
When I first applied for a card i got declined by everyone. I didn't care how many pulls I had because I knew that if no one would approve me I would have to get a secured card and hold onto it for 6 months before applying for a regular card, and to get a secured card it wouldn't matter how many pulls I had.
Title: Re: Building credit for those who cant get a credit card
Post by: Dan on April 10, 2013, 02:44:29 PM
AU is not sufficient. You need to be either an individual account holder or a joint.
./experience
-1

But as I think bubbles once asked....a person getting a cap1 card has no credit. So that means he probably won't be applying for another card for at least ~6 months. By that time does it make that much of a difference he got 3 pulls for building his credit?
Besides for only costing 1 pull, a Gap or Target card is much more useful that Cap1 in the long-haul.
Title: Re: Building credit for those who cant get a credit card
Post by: raphy781 on April 10, 2013, 02:48:40 PM
AU is not sufficient. You need to be either an individual account holder or a joint.
./experience
-1 If you're an AU with Amex they report the account activity to the credit bureaus. I'm not sure exactly how much of an impact this has though.
Title: Re: Building credit for those who cant get a credit card
Post by: yaakov s on April 10, 2013, 02:59:27 PM
AU is not sufficient. You need to be either an individual account holder or a joint.
./experience
-1
With Chase Meshugener is correct . Maybe once in a while AU slips through to get approval .

Not enough familiar with other card companies.
Title: Re: Building credit for those who cant get a credit card
Post by: Moshe123 on April 10, 2013, 03:00:05 PM
-1

Several people that I know couldn't get credit from Chase in the beginning because they were only an AU on a card even for many months.
Title: Re: Building credit for those who cant get a credit card
Post by: yaakov s on April 10, 2013, 03:02:55 PM
Several people that I know couldn't get credit from Chase in the beginning because they were only an AU on a card even for many months years.
Title: Re: Building credit for those who cant get a credit card
Post by: meshugener on April 10, 2013, 03:03:03 PM
-1

With Chase Meshugener is correct .
Title: Re: Building credit for those who cant get a credit card
Post by: Dan on April 10, 2013, 05:13:10 PM
First of all who said we were talking about Chase?
I said use the AU to be able to get a valuable store card like from Gap (lots of cardmembers only promos) or Target (5% off and free shipping with no minimum) and then move onto AMEX or Chase.

Plus being an AU on AMEX before getting your own card is very beneficial due to the backdating process.
Title: Re: Building credit for those who cant get a credit card
Post by: CountValentine on April 10, 2013, 05:50:15 PM
AU is not sufficient. You need to be either an individual account holder or a joint.
./experience
Some of us have a little more experience and you can say this all you want and you will still be wrong.  ;)
Title: Re: Building credit for those who cant get a credit card
Post by: Moshe123 on April 10, 2013, 05:52:17 PM
Some of us have a little more experience and you can say this all you want and you will still be wrong.  ;)

Both are probably right. YMMV. For Amex It's enough, for Chase not. IME.
Title: Re: Building credit for those who cant get a credit card
Post by: meshugener on April 10, 2013, 05:53:11 PM
Some of us have a little more experience and you can say this all you want and you will still be wrong.  ;)
you really want to start up with me today?
Title: Re: Building credit for those who cant get a credit card
Post by: CountValentine on April 10, 2013, 05:56:41 PM
you really want to start up with me today?
Nothing to start about. The proof is in the pudding.  :P
Title: Re: Building credit for those who cant get a credit card
Post by: bubbles on April 10, 2013, 06:04:53 PM

Besides for only costing 1 pull, a Gap or Target card is much more useful that Cap1 in the long-haul.

I still feel the one pull per bureau is not a factor for your first card, but if it's just as easy to get approved for a store cc as the journey card than I can definitely hear that it's more useful in the long run
Title: Re: Building credit for those who cant get a credit card
Post by: jwilliams1 on April 10, 2013, 06:06:14 PM
First of all who said we were talking about Chase?
I said use the AU to be able to get a valuable store card like from Gap (lots of cardmembers only promos) or Target (5% off and free shipping with no minimum) and then move onto AMEX or Chase.

Plus being an AU on AMEX before getting your own card is very beneficial due to the backdating process.

So if i have been an AU since november on an amex- do you suggest i try to get my own gap card- OR become an AU on gap and then apply for my own card how much later?
Title: Re: Building credit for those who cant get a credit card
Post by: bubbles on April 10, 2013, 06:07:55 PM
So if i have been an AU since november on an amex- do you suggest i try to get my own gap card- OR become an AU on gap and then apply for my own card how much later?

Didn't you say that you already tried applying for store cards but were rejected? Is Gap in particular an easier card to get?
Title: Re: Building credit for those who cant get a credit card
Post by: jwilliams1 on April 10, 2013, 06:11:35 PM
Didn't you say that you already tried applying for store cards but were rejected? Is Gap in particular an easier card to get?

that was in the beginning of my AU on amex days. Now it is 6 months later of activity on that amex. I assumed it helps...
And i Used gap generically cause Dan mentioned it as an example
Title: Re: Building credit for those who cant get a credit card
Post by: shimino1 on April 10, 2013, 06:30:28 PM
I'm no expert at this but let me ask you a question that may have been overlooked, are you sure that the owner of the Amex card you are on as AU has a good credit score?
Title: Re: Building credit for those who cant get a credit card
Post by: CountValentine on April 10, 2013, 06:31:48 PM
I'm no expert at this but let me ask you a question that may have been overlooked, are you sure that the owner of the Amex card you are on as AU has a good credit score?
Also when you were added as an AU did they back date your card to the owners date?
Title: Re: Building credit for those who cant get a credit card
Post by: shimino1 on April 10, 2013, 06:33:33 PM
Also when you were added as an AU did they back date your card to the owners date?

still new to the forum what's backdating?
Title: Re: Building credit for those who cant get a credit card
Post by: CountValentine on April 10, 2013, 07:04:41 PM
still new to the forum what's backdating?
The owner has card with an issue date of 2000. You are added as an AU and your date also shows as 2000. You then apply for a card on your own and it also shows a date of 2000. Great for your credit history and FICO.
Title: Re: Building credit for those who cant get a credit card
Post by: shimino1 on April 10, 2013, 07:11:50 PM
The owner has card with an issue date of 2000. You are added as an AU and your date also shows as 2000. You then apply for a card on your own and it also shows a date of 2000. Great for your credit history and FICO.

wow sounds great only problem is the only old Amex cc I can get added on is a business card which dosent help my credit score would it still help for issue date?
Title: Re: Building credit for those who cant get a credit card
Post by: CountValentine on April 10, 2013, 07:13:45 PM
wow sounds great only problem is the only old Amex cc I can get added on is a business card which dosent help my credit score would it still help for issue date?
Great question and I am not sure.
Title: Re: Building credit for those who cant get a credit card
Post by: shimino1 on April 10, 2013, 07:21:06 PM
Great question and I am not sure.

Thanks for the honest answer לא הביישן למד.
maybe the rebbe can answer
Title: Re: Building credit for those who cant get a credit card
Post by: CountValentine on April 10, 2013, 07:26:16 PM
לא הביישן למד.
=Not shy studied?
Title: Re: Building credit for those who cant get a credit card
Post by: ari2955 on April 10, 2013, 07:27:20 PM
wow sounds great only problem is the only old Amex cc I can get added on is a business card which dosent help my credit score would it still help for issue date?

my business cards with Amex do not backdate to my personal cards, looks like bus and personal card dates have no connection
Title: Re: Building credit for those who cant get a credit card
Post by: shimino1 on April 10, 2013, 07:50:28 PM
=Not shy studied?

"he who is shy will never lern" as in don't be afried to admit to not knowing somthing cuz that's the only way to lern
Title: Re: Building credit for those who cant get a credit card
Post by: shimino1 on April 10, 2013, 07:51:43 PM
my business cards with Amex do not backdate to my personal cards, looks like bus and personal card dates have no connection
:'( but thanks for answer
Title: Re: Building credit for those who cant get a credit card
Post by: shimino1 on April 10, 2013, 07:52:38 PM
my business cards with Amex do not backdate to my personal cards, looks like bus and personal card dates have no connection
would it help for getting a bus card?
Title: Re: Building credit for those who cant get a credit card
Post by: CountValentine on April 10, 2013, 07:55:10 PM
"he who is shy will never lern" as in don't be afried to admit to not knowing somthing cuz that's the only way to lern
TY, Google fails me again.
Title: Re: Building credit for those who cant get a credit card
Post by: smaxber on April 10, 2013, 09:54:23 PM
I'm in the same boat as OP.
did a 3 BM got denied. Huca no luck. SM no luck. Even visited a branch.

I'm only 20 so I know in general they have some age restrictions regarding that, but the main reason is because I don't have long enough credit history. I have a citi dividends from October plus some AU which isn't of help.

Anyone have opinions on other type of cards I might be suitable for (BOA or Barclay)? Some store cards were mentioned as well ( target and gap)
Title: Re: Building credit for those who cant get a credit card
Post by: bubbles on April 10, 2013, 10:24:18 PM
I'm in the same boat as OP.
did a 3 BM got denied. Huca no luck. SM no luck. Even visited a branch.

I'm only 20 so I know in general they have some age restrictions regarding that, but the main reason is because I don't have long enough credit history. I have a citi dividends from October plus some AU which isn't of help.

Anyone have opinions on other type of cards I might be suitable for (BOA or Barclay)? Some store cards were mentioned as well ( target and gap)

Do you have any negatives or bad accounts on your report? I find it interesting that you're an AU plus you have your own CC for 6 months and can't get approved for a card. I don't think a store card is the way to go for you anymore at this point.
Title: Re: Building credit for those who cant get a credit card
Post by: smaxber on April 10, 2013, 11:07:55 PM
Do you have any negatives or bad accounts on your report? I find it interesting that you're an AU plus you have your own CC for 6 months and can't get approved for a card. I don't think a store card is the way to go for you anymore at this point.

Not that I'm aware of. I have 100% paying on time. Utilization is about 50% on $3,000 CL. I dont know what can hurt me because as far as I know being an authorized user does not have any effect on one's credit...
Title: Re: Building credit for those who cant get a credit card
Post by: lcyitz on April 10, 2013, 11:25:14 PM
Not that I'm aware of. I have 100% paying on time. Utilization is about 50% on $3,000 CL. I dont know what can hurt me because as far as I know being an authorized user does not have any effect on one's credit...
AU does help it just takes longer, best bet will be ask a friend or s/o to put you as a joint cardmember it will boost your credit pretty fast in my experience.

Or just apply for a gap card and see what happens
Title: Re: Building credit for those who cant get a credit card
Post by: Yeki89 on April 10, 2013, 11:31:13 PM
Target card is much more useful that Cap1 in the long-haul.
I use it to buy $5 items on target.com :)
Title: Re: Building credit for those who cant get a credit card
Post by: smaxber on April 10, 2013, 11:38:38 PM
AU does help it just takes longer, best bet will be ask a friend or s/o to put you as a joint cardmember it will boost your credit pretty fast in my experience.

Or just apply for a gap card and see what happens

My credit score is perfect. I just need credit HISTORY. Any advice on that?
Title: Re: Building credit for those who cant get a credit card
Post by: Moshe123 on April 10, 2013, 11:40:01 PM
My credit score is perfect. I just need credit HISTORY. Any advice on that?

That is the solution for this.
Title: Re: Building credit for those who cant get a credit card
Post by: Marco Polo on April 10, 2013, 11:40:08 PM
My credit score is perfect. I just need credit HISTORY. Any advice on that?
Time.
Title: Re: Credit Card For Beginners
Post by: lcyitz on April 10, 2013, 11:47:50 PM
My credit score is perfect. I just need credit HISTORY. Any advice on that?
Joint cardmember will give you HISTORY so will AU just will take longer.
Title: Re: Credit Card For Beginners
Post by: smaxber on April 11, 2013, 12:06:05 AM
Thank you all

One other thing. Does Amex look at AU in general? Or only for their own cards or neither ?
Title: Re: Credit Card For Beginners
Post by: shimino1 on April 11, 2013, 12:35:46 AM
Does citi backdate with AU or is that just Amex?
Title: Re: Credit Card For Beginners
Post by: shimino1 on April 11, 2013, 12:38:00 AM
also is it significly better to be joint cardholder then AU? as in worth nagging family member to call and wait on the phone etc'
Title: Re: Credit Card For Beginners
Post by: lcyitz on April 11, 2013, 12:39:30 AM
also is it significly better to be joint cardholder then AU? as in worth nagging family member to call and wait on the phone etc'
Yes. All they have to do is request a form full it out then send it back.
Title: Re: Credit Card For Beginners
Post by: CountValentine on April 11, 2013, 12:49:50 AM
Let me give you the facts on AU’s. All my kids are AU’s on several of are cards. None of them are joint card holders. They all have FICO’s above 800. None of them have ever been denied a card they applied for and most of the time it is an instant approval.
Title: Re: Credit Card For Beginners
Post by: shimino1 on April 11, 2013, 01:04:56 AM
Let me give you the facts on AU’s. All my kids are AU’s on several of are cards. None of them are joint card holders. They all have FICO’s above 800. None of them have ever been denied a card they applied for and most of the time it is an instant approval.

thanks I guss it's just a patience game
Title: Re: Credit Card For Beginners
Post by: yuneeq on April 11, 2013, 01:07:50 AM
Started wiki.
Waiting to get slaughtered!
Title: Re: Credit Card For Beginners
Post by: CountValentine on April 11, 2013, 01:19:20 AM
Waiting to get slaughtered!
Ok I am game.  :)
AFAIK Amex no longer back dates when you are added as an AU. You (primary card holder) are going to have to call to try and get this done.

If you want more just let me know.  :P
Title: Re: Credit Card For Beginners
Post by: Dan on April 11, 2013, 01:27:39 AM
Added and fixed things up.
Title: Re: Credit Card For Beginners
Post by: jj1000 on April 11, 2013, 01:38:44 AM
What is a good income to write down? What companies if any ask for verification of income?

I know many noobs write down for say a gap card they make $5K a year and wonder why they were denied...
Title: Re: Credit Card For Beginners
Post by: smaxber on April 11, 2013, 01:45:17 AM
Added a fixed things up.

Where/ what exactly?
Title: Re: Credit Card For Beginners
Post by: jj1000 on April 11, 2013, 01:46:55 AM
Where/ what exactly?
Wiki
Title: Re: Credit Card For Beginners
Post by: CountValentine on April 11, 2013, 01:48:00 AM
Getting added to say a Citi, BOA or Chase as an AU card works great. Your CR will show the since open date as that of the primary card holder. Another not confirmed trick is once added as an AU have yourself removed and then added again. You will now have two of the same accounts on your CR (one closed and one open) but both will count towards your length of history.
Title: Re: Building credit for those who cant get a credit card
Post by: Shmulyg on April 11, 2013, 03:16:11 AM
I still feel the one pull per bureau is not a factor for your first card, but if it's just as easy to get approved for a store cc as the journey card than I can definitely hear that it's more useful in the long run
IME, it's not. I often advise friends on building their credit and the consensus i picked up is that Cap1 Journey is easier for n00bies to get approved for than store CCs.
Title: Re: Credit Card For Beginners
Post by: rots5 on April 11, 2013, 03:38:46 AM
IME, it's not. I often advise friends on building their credit and the consensus i picked up is that Cap1 Journey is easier for n00bies to get approved for than store CCs.
personally i would stay far away from cap1. I would quicker advise you to do a discover student (IT) card (http://www.dansdeals.com/go/DiscoverStudent1/)
Title: Re: Credit Card For Beginners
Post by: bubbles on April 11, 2013, 07:28:48 AM
Another not confirmed trick is once added as an AU have yourself removed and then added again. You will now have two of the same accounts on your CR (one closed and one open) but both will count towards your length of history.
Can confirm it worked for me
Title: Re: Credit Card For Beginners
Post by: shimino1 on April 11, 2013, 07:54:02 AM
Getting added to say a Citi, BOA or Chase as an AU card works great. Your CR will show the since open date as that of the primary card holder. Another not confirmed trick is once added as an AU have yourself removed and then added again. You will now have two of the same accounts on your CR (one closed and one open) but both will count towards your length of history.
you seem to know a lot about AUs, can you explain way youd want to have a closed and an open acount as AU? is it that 2 is better then one? in that case shuld i get added on to 3 or 4 cards as AU (providing of course that they have good credit?
Title: Re: Credit Card For Beginners
Post by: shimino1 on April 11, 2013, 07:55:03 AM
Can confirm it worked for me
With what compeny plz?
Title: Re: Credit Card For Beginners
Post by: bubbles on April 11, 2013, 07:55:49 AM
With what compeny plz?

Amex SPG
Title: Re: Credit Card For Beginners
Post by: shimino1 on April 11, 2013, 07:56:39 AM
Amex SPG
thanks anyone know if this works for citi?
Title: Re: Credit Card For Beginners
Post by: shimino1 on April 11, 2013, 08:00:47 AM
I can get added on to brand new Spg as AU (only amex card in family) will that help me at all? or at least for amex
Title: Re: Credit Card For Beginners
Post by: Moshe123 on April 11, 2013, 08:28:57 AM
I can get added on to brand new Spg as AU (only amex card in family) will that help me at all? or at least for amex

Yes
For all cards.

Also get a Cap1 IMO.
Title: Re: Credit Card For Beginners
Post by: shimino1 on April 11, 2013, 08:45:31 AM
can there be a problem if added as AU on too meny cards (3 or 4)?
Title: Re: Credit Card For Beginners
Post by: yuneeq on April 11, 2013, 08:51:59 AM
can there be a problem if added as AU on too meny cards (3 or 4)?

Yes. You might get accepted to too many cc's too fast which may lead into a spiraling cc debt problem
Title: Re: Credit Card For Beginners
Post by: CountValentine on April 11, 2013, 10:03:35 AM
you seem to know a lot about AUs, can you explain way youd want to have a closed and an open acount as AU? is it that 2 is better then one? in that case shuld i get added on to 3 or 4 cards as AU (providing of course that they have good credit?
If you are just starting out get added to as many cards as you can. You want ones in good standing and long credit history.

You can't be added as an AU to a card if you already are an AU for that card. That is where the trick comes in. It gives you two accounts that will both count towards your length of credit history for your FICO score. Your goal is you want to get instant approvals so unwanted eyes do not look at your report.
Title: Re: Credit Card For Beginners
Post by: shimino1 on April 11, 2013, 10:07:30 AM
If you are just starting out get added to as many cards as you can. You want ones in good standing and long credit history.

You can't be added as an AU to a card if you already are an AU for that card. That is where the trick comes in. It gives you two accounts that will both count towards your length of credit history for your FICO score. Your goal is you want to get instant approvals so unwanted eyes do not look at your report.
got it, thanks.
Title: Re: Credit Card For Beginners
Post by: judahk88 on April 11, 2013, 10:49:46 AM
What is a good income to write down? What companies if any ask for verification of income?

I know many noobs write down for say a gap card they make $5K a year and wonder why they were denied...
+1 I actually had a funny story with my bro. He tells me he tried to get approved for CCs, but gets denied everytime, so I start asking him how he filled out his app and he tells me by income he put 0 bec he gets paid cash  :o   ::) . Needless to say I applied for a card for him that night and he got an instant approval.
Title: Re: Credit Card For Beginners
Post by: mmermss on April 11, 2013, 10:50:51 AM
+1 I actually had a funny story with my bro. He tells me he tried to get approved for CCs, but gets denied everytime, so I start asking him how he filled out his app and he tells me by income he put 0 bec he gets paid cash  :o   ::) . Needless to say I applied for a card for him that night and he got an instant approval.
Lol

Title: Re: Credit Card For Beginners
Post by: judahk88 on April 11, 2013, 10:51:26 AM
Lol
Yes I definitely did  ;D
Title: Re: Credit Card For Beginners
Post by: Moshe123 on April 11, 2013, 10:51:45 AM
+1 I actually had a funny story with my bro. He tells me he tried to get approved for CCs, but gets denied everytime, so I start asking him how he filled out his app and he tells me by income he put 0 bec he gets paid cash  :o   ::) . Needless to say I applied for a card for him that night and he got an instant approval.

One smart, sheltered bunny...
Title: Re: Credit Card For Beginners
Post by: smaxber on April 11, 2013, 10:52:57 AM
Can anyone post wiki? I don't see the changes spoken about here addressed
Title: Re: Credit Card For Beginners
Post by: yuneeq on April 11, 2013, 11:00:24 AM
Can anyone post wiki? I don't see the changes spoken about here addressed

PM sent.
Title: Re: Credit Card For Beginners
Post by: shimino1 on April 11, 2013, 11:01:15 AM
PM sent.
me too?
Title: Re: Credit Card For Beginners
Post by: smaxber on April 11, 2013, 11:26:45 AM
PM sent.

Never received anything....
Title: Re: Credit Card For Beginners
Post by: shimino1 on April 11, 2013, 11:28:29 AM
Never received anything....
+1
Title: Re: Credit Card For Beginners
Post by: Let3 on April 11, 2013, 12:25:53 PM
So my wife has no credit.. Got denied on 2 cards but don't remember which..
I had her aply for the us has advantage card.. From what I remember it was the easiest card to get (it was my first card..) but I don't see anyone here mentioning it..
Is there a reason for that?
Is it worse then cap1?
Was that a mistake??
Title: Re: Credit Card For Beginners
Post by: Dan on April 11, 2013, 12:32:10 PM
personally i would stay far away from cap1. I would quicker advise you to do a discover student (IT) card (http://www.dansdeals.com/go/DiscoverStudent1/)
Makes sense.
5% categories and just 1 pull sounds more useful than Cap1.
Title: Re: Credit Card For Beginners
Post by: Dan on April 11, 2013, 12:32:26 PM
So my wife has no credit.. Got denied on 2 cards but don't remember which..
I had her aply for the us has advantage card.. From what I remember it was the easiest card to get (it was my first card..) but I don't see anyone here mentioning it..
Is there a reason for that?
Is it worse then cap1?
Was that a mistake??
The points aren't worth as much as other points.
Title: Re: Credit Card For Beginners
Post by: Let3 on April 11, 2013, 12:34:46 PM
Worse points then gap etc?
Title: Re: Credit Card For Beginners
Post by: Let3 on April 11, 2013, 12:36:51 PM
Well b"h she got accepted! So what should I do now to build up credit?
1-still worth it to add her as au on my old (Hilton ) amex card? (Only one besides business spg)..
2- should she apply for a gap card as well
3- how long till aply for good card- like chase saphire
Title: Re: Credit Card For Beginners
Post by: Shmulyg on April 11, 2013, 01:05:10 PM
Well b"h she got accepted! So what should I do now to build up credit?
1-still worth it to add her as au on my old (Hilton ) amex card? (Only one besides business spg)..
2- should she apply for a gap card as well
3- how long till aply for good card- like chase saphire
1. Yes
2. It's another card on her history, but also another pull. Up to you.
3. 6-12 months, IME. Use Credit Sesame and Credit Karma to get a general idea of her credit score.
Title: Re: Credit Card For Beginners
Post by: Let3 on April 11, 2013, 01:08:24 PM
2. It's another card on her history, but also another pull. Up to you.


Thanks!
Is another card going to help her score go up faster/better??
Title: Re: Credit Card For Beginners
Post by: Let3 on April 11, 2013, 01:08:48 PM
Also I called a few month back to make her a au on chase card- they said no such thing on personal cards- only business ! Does that make sense?? Is it accurate?? 
Title: Re: Credit Card For Beginners
Post by: yuneeq on April 11, 2013, 01:16:15 PM
Also I called a few month back to make her a au on chase card- they said no such thing on personal cards- only business ! Does that make sense?? Is it accurate??

Call back.
Title: Re: Credit Card For Beginners
Post by: yuneeq on April 11, 2013, 01:18:38 PM
Never received anything....

I was just kidding. Wiki is on the top of the the first post on this page, minimized.
Title: Re: Credit Card For Beginners
Post by: Shmulyg on April 11, 2013, 01:19:36 PM
Makes sense.
5% categories and just 1 pull sounds more useful than Cap1.
Somewhat off topic: I already have the Dicsover More card. Can i also get the Discover student (IT) card and take advantage of the 5% categories on both?
Title: Re: Credit Card For Beginners
Post by: rots5 on April 11, 2013, 04:03:33 PM
Somewhat off topic: I already have the Dicsover More card. Can i also get the Discover student (IT) card and take advantage of the 5% categories on both?
from what someone just emailed me, officially u need to be enrolled in school to get the IT card. Does this make sense?
Title: Re: Credit Card For Beginners
Post by: DovtheBear on April 11, 2013, 09:05:32 PM
Is the wiki suggesting you lie about your income?
What if you really dont have any?
Title: Re: Credit Card For Beginners
Post by: jj1000 on April 11, 2013, 09:15:57 PM
Is the wiki suggesting you lie about your income?
What if you really dont have any?
I said nothing of the sort. But if you have no income you will never be approved for a good CC. If you do lie you can have the potential to be approved. Just saying it how it is.

If you want to discuss the ethics of this there is a thread for that.
Title: Re: Credit Card For Beginners
Post by: DovtheBear on April 11, 2013, 09:20:16 PM
I said nothing of the sort. But if you have no income you will never be approved for a good CC. If you do lie you can have the potential to be approved. Just saying it how it is.

If you want to discuss the ethics of this there is a thread for that.
But can they not find out?
Title: Re: Credit Card For Beginners
Post by: jj1000 on April 11, 2013, 09:24:27 PM
But can they not find out?
From who? The IRS doesn't just hand that stuff out without a subpoena.

And if they do find out you'll be in the same place as if you never falsified your income.
Title: Re: Credit Card For Beginners
Post by: yuneeq on April 11, 2013, 09:31:00 PM
But can they not find out?

They can if you get f/r'ed and you decide to send them tax returns to keep your accounts open.
Title: Re: Credit Card For Beginners
Post by: DovtheBear on April 11, 2013, 09:31:32 PM
And if they do find out you'll be in the same place as if you never falsified your income.
wheres that?
Title: Re: Credit Card For Beginners
Post by: DovtheBear on April 11, 2013, 09:32:28 PM
They can if you get f/r'ed and you decide to send them tax returns to keep your accounts open.
Whats that?
Title: Re: Credit Card For Beginners
Post by: jj1000 on April 11, 2013, 09:37:16 PM
wheres that?
A place where you don't have any good CC's

Title: Re: Credit Card For Beginners
Post by: DovtheBear on April 11, 2013, 09:44:51 PM
A place where you don't have any good CC's
So, i take it, you dont suggest it?
Title: Re: Credit Card For Beginners
Post by: jj1000 on April 11, 2013, 09:46:44 PM
So, i take it, you dont suggest it?
Don't suggest writing you earn $0 a year?

Feel free to but you will not be approved for 99.9% of cards.
Title: Re: Credit Card For Beginners
Post by: sky121 on April 11, 2013, 09:47:05 PM
Random q- can one bank see how much money I have in another bank?

Can they see I have another account at all?
Title: Re: Credit Card For Beginners
Post by: DovtheBear on April 11, 2013, 09:47:52 PM
Don't suggest writing you earn $0 a year?

Feel free to but you will not be approved for 99.9% of cards.
haha :D
No i meant the other way around
Title: Re: Credit Card For Beginners
Post by: jj1000 on April 11, 2013, 09:53:14 PM
haha :D
No i meant the other way around
I would suggest writing you earn $50K or more. There is no best amount to write. If you write you earn a million a year they will more likely ask for proof.

Random q- can one bank see how much money I have in another bank?

Can they see I have another account at all?
I don't think so.
Title: Re: Credit Card For Beginners
Post by: DovtheBear on April 11, 2013, 10:07:20 PM
I would suggest writing you earn $50K or more. There is no best amount to write. If you write you earn a million a year they will more likely ask for proof.
 I don't think so.
Great, and Thanks alot!
Title: Re: Credit Card For Beginners
Post by: Shmulyg on April 11, 2013, 11:07:35 PM
Random q- can one bank see how much money I have in another bank?
No.
Can they see I have another account at all?
It depends.
http://en.wikipedia.org/wiki/ChexSystems
Title: Re: Credit Card For Beginners
Post by: lcyitz on April 12, 2013, 12:32:09 AM
Does a gap card non visa help build credit ?
Title: Re: Credit Card For Beginners
Post by: Dan on April 12, 2013, 12:33:28 AM
Yes
Title: Re: Credit Card For Beginners
Post by: lcyitz on April 12, 2013, 12:34:55 AM
Yes
As fast as a gap visa?
Title: Re: Credit Card For Beginners
Post by: Dan on April 12, 2013, 12:36:21 AM
Shouldn't make a diff.
Title: Re: Credit Card For Beginners
Post by: lcyitz on April 12, 2013, 02:27:00 AM
Shouldn't make a diff.
Thanks! Anyone have an idea how long after getting this gap non visa would you apply for a reg chase card? (My Guess would be 3 months)
Title: Re: Credit Card For Beginners
Post by: jj1000 on April 12, 2013, 02:31:34 AM
Thanks! Anyone have an idea how long after getting this gap non visa would you apply for a reg chase card? (My Guess would be 3 months)
If it's from scratch usually takes 6 months of spending a small utilization ratio to build up a decent credit history. But obviously YMMV
Title: Re: Credit Card For Beginners
Post by: smaxber on April 12, 2013, 10:10:10 AM
This all sounds nice but take me. I have a citi dividends for roughly 6 months now (maybe 5.5) and got denied for freedom sapphire. CS is in 750's.

Age :20
Reported: $40,000 income

Reason for denial:I HUCA'd but responses were all "not enough credit history" 1 person even said "chase needs 2 years of credit history"
Title: Re: Credit Card For Beginners
Post by: sky121 on April 12, 2013, 10:13:50 AM
This all sounds nice but take me. I have a citi dividends for roughly 6 months now (maybe 5.5) and got denied for freedom sapphire. CS is in 750's.

Age :20
Reported: $40,000 income

Reason for denial:I HUCA'd but responses were all "not enough credit history" 1 person even said "chase needs 2 years of credit history"

Best thing to do IMO  is get someone with a longer history to open a joint account wit you.
Title: Re: Credit Card For Beginners
Post by: bubbles on April 12, 2013, 11:01:35 AM
This all sounds nice but take me. I have a citi dividends for roughly 6 months now (maybe 5.5) and got denied for freedom sapphire. CS is in 750's.

Age :20
Reported: $40,000 income

Reason for denial:I HUCA'd but responses were all "not enough credit history" 1 person even said "chase needs 2 years of credit history"

Had a citi dividend for around 5 months (plus 2 amex AU's)and got an SP and IP. HUCA?
Title: Re: Credit Card For Beginners
Post by: smaxber on April 12, 2013, 04:32:56 PM
Had a citi dividend for around 5 months (plus 2 amex AU's)and got an SP and IP. HUCA?


I HUCA'd and SM'd no luck

New development: got denial letter in mail today reason for denial was: too many requests for credit...I filled out the forms and clicked submit all within 10 seconds of each other... Did 3 BM with freedom sapphire and ink bold. Either 2 is too much or they registered it as 3....

How much does age play a role in this?
Title: Re: Credit Card For Beginners
Post by: noturbizniss on April 12, 2013, 04:34:11 PM

I HUCA'd and SM'd no luck

New development: got denial letter in mail today reason for denial was: too many requests for credit...I filled out the forms and clicked submit all within 10 seconds of each other... Did 3 BM with freedom sapphire and ink bold. Either 2 is too much or they registered it as 3....

How much does age play a role in this?
How many apps have you had prior to the app-o-rama (i.e. pulls over last few months)?
Title: Re: Credit Card For Beginners
Post by: smaxber on April 12, 2013, 04:41:05 PM
Afaik just 1 for the citi card back in October.
Title: Re: Credit Card For Beginners
Post by: smaxber on April 12, 2013, 06:25:49 PM
Good news! I HUCA'd one more time and was approved for freedom. With $1,000 CL. Making small talk afterwards and said there was no way he would approve for SP. because that's a minimum of $5,000 CL. I guess he was just taking my word regarding the freedom  :D

Made my weekend!!
Title: Re: Credit Card For Beginners
Post by: Moshe123 on April 12, 2013, 06:36:55 PM
Good news! I HUCA'd one more time and was approved for freedom. With $1,000 CL. Making small talk afterwards and said there was no way he would approve for SP. because that's a minimum of $5,000 CL. I guess he was just taking my word regarding the freedom  :D

Made my weekend!!

Let this be another lesson! Always HUCA !!
Title: Re: Credit Card For Beginners
Post by: smaxber on April 12, 2013, 06:40:52 PM
Let this be another lesson! Always HUCA !!

IMO the reason it worked was because I had a reference number from the denial letter. And the letter provided a different reason of denial than what the reps were providing me up until now.

When I called instead of hearing why I was denied I started by asking why I had too many inquiries and if that's the case can we do something about it. Approve 1 not 3...
Title: Re: Credit Card For Beginners
Post by: shimino1 on April 13, 2013, 05:56:05 PM
IMO the reason it worked was because I had a reference number from the denial letter. And the letter provided a different reason of denial than what the reps were providing me up until now.

When I called instead of hearing why I was denied I started by asking why I had too many inquiries and if that's the case can we do something about it. Approve 1 not 3...
now try getting another 1 approved. :D
Title: Re: Credit Card For Beginners
Post by: smaxber on April 13, 2013, 09:11:27 PM
Lol starting Monday
Title: Re: Credit Card For Beginners
Post by: yuneeq on April 13, 2013, 11:34:40 PM
Lol starting Monday

Better earlier than later...
Title: Re: Credit Card For Beginners
Post by: shimino1 on April 14, 2013, 07:25:50 AM
Better earlier than later...
Yea but ppl working on a weekend just may be less friendly and less willing to bend the rules a little.
Title: Re: Credit Card For Beginners
Post by: jj1000 on April 14, 2013, 08:34:21 AM
Yea but ppl working on a weekend just may be less friendly and less willing to bend the rules a little.
-1 people are often in a good mood on weekends, plus you can sympathize with them which is an insisint in.

The friendliest rep I ever spoke to was on new years eve.

It's all YMMV
Title: Re: Credit Card For Beginners
Post by: shimino1 on April 14, 2013, 08:37:46 AM
-1 people are often in a good mood on weekends, plus you can sympathize with them which is an insisint in.

The friendliest rep I ever spoke to was on new years eve.

It's all YMMV
So they are not in a good mood on the weekend or else way would you need to sympathize with them. :)
Title: Re: Credit Card For Beginners
Post by: jj1000 on April 14, 2013, 08:44:09 AM
So they are not in a good mood on the weekend or else way would you need to sympathize with them. :)
I stated how either way it can work to your advantage. Sorry if that wasn't clear.
Title: Re: Credit Card For Beginners
Post by: shimino1 on April 14, 2013, 08:46:46 AM
I stated how either way it can work to your advantage. Sorry if that wasn't clear.
So you can swing it either way. im not yet an expert  :)
Title: Re: Credit Card For Beginners
Post by: ckmk47 on April 17, 2013, 12:15:43 AM

I HUCA'd and SM'd no luck

New development: got denial letter in mail today reason for denial was: too many requests for credit...I filled out the forms and clicked submit all within 10 seconds of each other... Did 3 BM with freedom sapphire and ink bold. Either 2 is too much or they registered it as 3....

How much does age play a role in this?

If you're doing a 3bm with Chase, mixing business and consumer cards will usually cause 2 pulls.  Ink is a business card.
Title: Re: Credit Card For Beginners
Post by: shimino1 on April 17, 2013, 08:57:45 AM
If you're doing a 3bm with Chase, mixing business and consumer cards will usually cause 2 pulls.  Ink is a business card.

+1
Title: Re: Credit Card For Beginners
Post by: meshugener on April 17, 2013, 11:21:01 AM
+1
YMMV, at least.
Title: Re: Credit Card For Beginners
Post by: davidch on April 21, 2013, 10:48:01 PM
Hey I just received my first cc which is a banana republic store card. and I wanna have great credit score so I just wanted to know what you meant by this  "Pay your credit card bill before your statement
closes but leave over a few dollars to be paid after
your statement closes".
Title: Re: Credit Card For Beginners
Post by: Shmulyg on April 21, 2013, 10:51:31 PM
Hey I just received my first cc which is a banana republic store card. and I wanna have great credit score so I just wanted to know what you meant by this  "Pay your credit card bill before your statement
closes but leave over a few dollars to be paid after
your statement closes".
Basically you want to keep your utilization ratio down. So if you're spending more than 10-30 percent of your available credit, you don't want that reported to the credit bureaus. One way to do that is by paying before the statement closes (as that's when they usually report to the bureaus),
Title: Re: Credit Card For Beginners
Post by: Saver2000 on April 21, 2013, 10:52:09 PM
Hey I just received my first cc which is a banana republic store card. and I wanna have great credit score so I just wanted to know what you meant by this  "Pay your credit card bill before your statement
closes but leave over a few dollars to be paid after
your statement closes".
Your statement closing is the end of the monthly billing cycle.
The balance on your card when the statement closes is whats reported to the credit bureau.

Its best to only have a small balance at that time.
In order to do that, you need to either
A) not spend alot on the card during the monthly billing cycle
B) Pay off the high balance before it closes so it doesnt get reported.
Title: Re: Credit Card For Beginners
Post by: nobiggy on May 04, 2013, 11:55:40 PM
I had my own discover card for 3 billing cycles. I am an AU on 2 AMEX cards for 8 months.
any ideas what's good for me now with good sighn up bonus and easy to get aprooved?
Title: Re: Credit Card For Beginners
Post by: EMES on May 05, 2013, 01:46:53 AM
2bm for a chase freedom , and a sapphire prefferd
Title: Re: Credit Card For Beginners
Post by: Shmulyg on May 05, 2013, 02:57:26 AM
2bm for a chase freedom , and a sapphire prefferd
SP is not known to be for beginners, though i guess it can't hurt if part of a 2BM.
Title: Re: Credit Card For Beginners
Post by: EMES on May 05, 2013, 04:49:57 AM
Was told so too,
However myself and a friend did the 2 bm , instant approval on the freedom and reconsiderd for the sapphire
Title: Re: Credit Card For Beginners
Post by: nobiggy on May 05, 2013, 09:01:25 AM
SP is not known to be for beginners, though i guess it can't hurt if part of a 2BM.
so is chase good or amex? And which cards are easiest and good sighn up??
Title: Re: Credit Card For Beginners
Post by: meshugener on May 05, 2013, 09:21:53 AM
As a beginner, I'd rather do a UA instead of the SP.
Title: Re: Credit Card For Beginners
Post by: nobiggy on May 05, 2013, 11:35:31 AM
As a beginner, I'd rather do a UA instead of the SP.
I've been an AU for almost 1yr and my own CC for 4months. Now what?
Title: Re: Credit Card For Beginners
Post by: Shmulyg on May 05, 2013, 12:59:13 PM
I've been an AU for almost 1yr and my own CC for 4months. Now what?
UA, not AU. UA=United Airlines :)
Title: Re: Credit Card For Beginners
Post by: EMES on May 05, 2013, 01:09:30 PM
If u have charged a sufficient amount on your card , and paid in Full each statement , u can apply for practically any chase card, and should for sure be approved through the reconsideration department .
As they Monitor payment history to their cards
Title: Re: Credit Card For Beginners
Post by: nobiggy on May 05, 2013, 01:45:38 PM
If u have charged a sufficient amount on your card , and paid in Full each statement , u can apply for practically any chase card, and should for sure be approved through the reconsideration department .
As they Monitor payment history to their cards
I was thinking 1. BA 2.UA reg and business 3. Freedom
Title: Re: Credit Card For Beginners
Post by: Shmulyg on May 05, 2013, 02:10:41 PM
I was thinking 1. BA 2.UA reg and business 3. Freedom
A 4BM with only 4 months of credit history? Take it easy man.
Title: Re: Credit Card For Beginners
Post by: Moshe123 on May 05, 2013, 02:12:24 PM
I was thinking 1. BA 2.UA reg and business 3. Freedom

 You quite possibly won't get a single approval from Chase. Way too little credit history.
Title: Re: Credit Card For Beginners
Post by: Shmulyg on May 05, 2013, 02:18:55 PM
You quite possibly won't get a single approval from Chase. Way too little credit history.
Mr. EMES promised him acceptance. He must work for Chase... :)
Title: Re: Credit Card For Beginners
Post by: nobiggy on May 05, 2013, 02:31:37 PM
You quite possibly won't get a single approval from Chase. Way too little credit history.
evey single person tells me something else can I get the reall facts or there is none?
Title: Re: Credit Card For Beginners
Post by: EMES on May 05, 2013, 02:37:12 PM
U should defiantly be able to get approved for the freedom , but u can try chase.com for a pre approval recommended specific cards based on your history , it's not a credit pull at all
Title: Re: Credit Card For Beginners
Post by: Shmulyg on May 05, 2013, 02:56:20 PM
evey single person tells me something else can I get the reall facts or there is none?
That.

No one, and i mean no one, can promise you anything. As a rule of thumb it's generally recommended at least 6 months of your own credit history before going for the big fish.
Title: Re: Credit Card For Beginners
Post by: nobiggy on May 05, 2013, 03:02:46 PM
That.

No one, and i mean no one, can promise you anything. As a rule of thumb it's generally recommended at least 6 months of your own credit history before going for the big fish.
so what's small/med fish for AMEX and Chase??
Title: Re: Credit Card For Beginners
Post by: Shmulyg on May 05, 2013, 03:05:26 PM
so what's small/med fish for AMEX and Chase??
IME, Freedom is the easiest from Chase. And once you're at it, a SP or UA won't hurt, IMO. But no 3/4BMs just yet.
Title: Re: Credit Card For Beginners
Post by: nobiggy on May 05, 2013, 03:52:05 PM
IME, Freedom is the easiest from Chase. And once you're at it, a SP or UA won't hurt, IMO. But no 3/4BMs just yet.
what's IME and what are the 2-3 easiest from AMEX
Title: Re: Credit Card For Beginners
Post by: Marco Polo on May 05, 2013, 03:53:34 PM
what's IME and what are the 2-3 easiest from AMEX
In My experience. (there is a thread...)


Title: Re: Credit Card For Beginners
Post by: smaxber on May 05, 2013, 04:16:41 PM
IME I had 6 months of credit history and got denied for 3 cards. Through HUCA got a freedom. Wouldn't approve anything else cuz too much of a risk for someone with no history.
Title: Re: Credit Card For Beginners
Post by: Shmulyg on May 05, 2013, 04:18:09 PM
IME I had 6 months of credit history and got denied for 3 cards. Through HUCA got a freedom. Wouldn't approve anything else cuz too much of a risk for someone with no history.
You hear that nobiggy? Take is slowly. What's all the rush anyway? It's a marathon not a sprint.
Title: Re: Credit Card For Beginners
Post by: nobiggy on May 05, 2013, 04:45:59 PM
You hear that nobiggy? Take is slowly. What's all the rush anyway? It's a marathon not a sprint.
it's all Nobiggy! I want to get some points rolling in!
Title: Re: Credit Card For Beginners
Post by: smaxber on May 05, 2013, 05:25:01 PM
it's all Nobiggy! I want to get some points rolling in!

If u have credit then go for it. If u don't then apply every 3 months or so...
Title: Re: Credit Card For Beginners
Post by: Moshe123 on May 05, 2013, 05:36:20 PM
it's all Nobiggy! I want to get some points rolling in!

My advice: Don't waste a pull on the lowly Chase card that you might get if anything. Build your credit and get the goodies in 6-10 months.

Title: Re: Credit Card For Beginners
Post by: smaxber on May 05, 2013, 06:38:21 PM
My advice: Don't waste a pull on the lowly Chase card that you might get if anything. Build your credit and get the goodies in 6-10 months.
+1 I didn't do that somewhat regret not being told that
Title: Re: Credit Card For Beginners
Post by: nobiggy on May 05, 2013, 09:49:18 PM
My advice: Don't waste a pull on the lowly Chase card that you might get if anything. Build your credit and get the goodies in 6-10 months.
forget chase. AMEX is so much easier to get aprooved what's the 3 easiest and best bonus?
Title: credit card
Post by: syma on May 05, 2013, 11:50:19 PM
Hello i would like to know with which kind of credit card is good to start with in order to raise my social.
I eared about capital one but i dont know which kind. Thanks for your help and advice
Title: Re: credit card
Post by: lcyitz on May 05, 2013, 11:57:30 PM
hey welcome to the forums! you may want to start out with a store credit card like gap or macys.
Title: Re: credit card
Post by: Mutty on May 05, 2013, 11:58:50 PM
Also remember, as Dan reiterated at tonites meeting, Capital One hits all three of the agencies in checking out your rating.
Title: Re: Credit Card For Beginners
Post by: EMES on May 06, 2013, 02:18:39 AM
forget chase. AMEX is so much easier to get aprooved what's the 3 easiest and best bonus?
I Dint recommend amex , most are charge cards and it it's much easier to trigger an fr , if I are trying to get your sign up points , and for someone new to be busy with that , ...
Title: Re: Credit Card For Beginners
Post by: shimino1 on May 06, 2013, 09:12:10 AM
forget chase. AMEX is so much easier to get aprooved what's the 3 easiest and best bonus?

stop trying to get 3 cards at a time. how are more rejections going to help you?
try for 1-2.
Title: Re: Credit Card For Beginners
Post by: smaxber on May 06, 2013, 09:52:35 AM
stop trying to get 3 cards at a time. how are more rejections going to help you?
try for 1-2.
+1
ESP if you barely have history
Title: Re: Credit Card For Beginners
Post by: nobiggy on May 06, 2013, 03:30:29 PM
stop trying to get 3 cards at a time. how are more rejections going to help you?
try for 1-2.


so which 2 from AMEX or which 2 from Chase?
Title: Re: Credit Card For Beginners
Post by: davidch on May 06, 2013, 09:45:48 PM
I have a gap store card, and I want to know if my credit will get ruined If  I payed a bill a day late?

Also what does it mean to pay a little before the statement closes and a little after?
Title: Re: Credit Card For Beginners
Post by: MEIR613 on May 06, 2013, 10:52:22 PM

so which 2 from AMEX or which 2 from Chase?
Chase - Freedom/UA

Amex - SPG/PRG
Title: Re: Credit Card For Beginners
Post by: nobiggy on May 06, 2013, 11:36:17 PM
Chase - Freedom/UA

Amex - SPG/PRG
what about Delta  gold??
Title: Re: Credit Card For Beginners
Post by: MEIR613 on May 06, 2013, 11:39:24 PM
what about Delta  gold??
DL miles aren't worth much.
Title: Re: Credit Card For Beginners
Post by: Shmulyg on May 06, 2013, 11:47:00 PM
I have a gap store card, and I want to know if my credit will get ruined If  I payed a bill a day late?
If by a day late you mean the minimum payment a day after it is due, you bet.

Also what does it mean to pay a little before the statement closes and a little after?

Basically you want to keep your utilization ratio down. So if you're spending more than 10-30 percent of your available credit, you don't want that reported to the credit bureaus. One way to do that is by paying before the statement closes (as that's when they usually report to the bureaus),
Your statement closing is the end of the monthly billing cycle.
The balance on your card when the statement closes is whats reported to the credit bureau.

Its best to only have a small balance at that time.
In order to do that, you need to either
A) not spend alot on the card during the monthly billing cycle
B) Pay off the high balance before it closes so it doesnt get reported.
Title: Re: Credit Card For Beginners
Post by: bubbles on May 07, 2013, 08:38:33 AM
If by a day late you mean the minimum payment a day after it is due, you bet.

They won't for sure report it as late if you're only off by a day
Title: Re: Credit Card For Beginners
Post by: greatdeals on May 07, 2013, 08:56:37 AM
I am a stay at home mother
I have been an authorized user for
many many years
I would like to open up my own credit card so I can
get the bonus also
but I don't have my own income
is there any way to get my own credit card?
Title: Re: Credit Card For Beginners
Post by: Marco Polo on May 07, 2013, 08:57:53 AM
I am a stay at home mother
I have been an authorized user for
many many years
I would like to open up my own credit card so I can
get the bonus also
but I don't have my own income
is there any way to get my own credit card?
You can put down any income the household generates. It does not need to be specifically yours.
Title: Re: Credit Card For Beginners
Post by: Shmulyg on May 07, 2013, 09:42:32 AM
They won't for sure report it as late if you're only off by a day
True. They may cut him some slack. I was addressing more the affect a late payments has on your credit history than his specific case. I stand corrected. Though i would probably advise him to call and give a reason why he was late and promise it won't happen again blah blah blah...
Title: Re: Credit Card For Beginners
Post by: davidch on May 07, 2013, 09:51:32 AM
 ;) thanks a lot guys. I geuss ill give it a try, and call them, being that I never got any email regarding that my due date is coming up.
Title: Re: Credit Card For Beginners
Post by: Shmulyg on May 07, 2013, 09:54:49 AM
;) thanks a lot guys. I geuss ill give it a try, and call them, being that I never got any email regarding that my due date is coming up.
If you play innocent, and get a somewhat caring rep, that should do it. Good luck!
Title: Re: Credit Card For Beginners
Post by: greatdeals on May 07, 2013, 10:31:20 AM
Quote
You can put down any income the household generates. It does not need to be specifically yours.

what do I put down for employer? my husbands employer?
Title: Re: Credit Card For Beginners
Post by: meshugener on May 07, 2013, 10:32:45 AM
Yes
Title: Re: Credit Card For Beginners
Post by: smee123 on May 07, 2013, 04:40:22 PM
Yes
And when you call recon and they ask if that's where you work?
Title: Re: Credit Card For Beginners
Post by: ckmk47 on May 08, 2013, 12:37:34 AM
what do I put down for employer? my husbands employer?
No. leave blank.  household income IS your income.  and you have no employer.  if it's a required box, write in 'housewife' or 'homemaker'.  Your work number is same as home.  If it's not a required box, leave it blank if you have no answer.
Title: Re: Credit Card For Beginners
Post by: hershy on May 08, 2013, 08:33:42 AM
You can put down any income the household generates. It does not need to be specifically yours.
Can I include my monthly food stamps and sec. 8 ? 😋
Title: Re: Credit Card For Beginners
Post by: Shreknit on May 08, 2013, 08:37:50 AM
Can I include my monthly food stamps and sec. 8 ? 😋

Yes there's a special section for welfare applicants 😜
Title: Re: Credit Card For Beginners
Post by: lfas25 on May 08, 2013, 08:54:05 AM
Can I include my monthly food stamps and sec. 8 ? 😋

They actually have a special credit card for ppl that are on government programs, there's no af, 100k sign up bonus, 3x on groceries, rent and gas. And if your trying to open a business they give you 10% cash back on office supplies. If you book an airline ticket you get 5x points, and has primary insurance on car rentals.

But this card is only available if you have no credit history and on every government program out there with no income on your tax return.
Title: Re: Credit Card For Beginners
Post by: Achas Veachas on May 08, 2013, 10:01:27 AM
They actually have a special credit card for ppl that are on government programs, there's no af, 100k sign up bonus, 3x on groceries, rent and gas. And if your trying to open a business they give you 10% cash back on office supplies. If you book an airline ticket you get 5x points, and has primary insurance on car rentals.

But this card is only available if you have no credit history and on every government program out there with no income on your tax return.
Yup! Used to have it, but then i got FR'd and couldn't prove that i had 0 income so they shut me down  :'(
Title: Re: Credit Card For Beginners
Post by: Saver2000 on May 08, 2013, 10:11:01 AM
They actually have a special credit card for ppl that are on government programs, there's no af, 100k sign up bonus, 3x on groceries, rent and gas. And if your trying to open a business they give you 10% cash back on office supplies. If you book an airline ticket you get 5x points, and has primary insurance on car rentals.

But this card is only available if you have no credit history and on every government program out there with no income on your tax return.
Is this a joke?
Title: Re: Credit Card For Beginners
Post by: Saver2000 on May 08, 2013, 10:11:52 AM
No. leave blank.   household income IS your income.   and you have no employer.  if it's a required box, write in 'housewife' or 'homemaker'.  Your work number is same as home.  If it's not a required box, leave it blank if you have no answer.
-1
Title: Re: Credit Card For Beginners
Post by: lfas25 on May 08, 2013, 10:19:36 AM
Is this a joke?

Do you seriously need to ask that?
Title: Re: Credit Card For Beginners
Post by: Saver2000 on May 08, 2013, 10:28:57 AM
Do you seriously need to ask that?
Didn't mean to ask it as a question.  Was pointing out that its a joke, bec this is a thread for beginners many of them wont know that it's a joke.
Title: Re: Credit Card For Beginners
Post by: meshugener on May 08, 2013, 04:57:52 PM
Can I include my monthly food stamps and sec. 8 ? 😋
Yes.
Its the law.
Lenders are required to consider public assistance income the same way as any other income.
If they deny you credit because part (or even your whole) income is earned from government assistance, you have the right to sue them.

Title: Re: Credit Card For Beginners
Post by: raphy781 on May 08, 2013, 07:07:40 PM
Which credit card is good for beginners? Babies R us didn't approve me.
If all else fails you can apply for secured credit card. They have an annual fee (around $30), but you are a basically guaranteed to get approved.
Title: Re: Credit Card For Beginners
Post by: ckmk47 on May 09, 2013, 02:23:55 AM
Saveer2000
What's wrong with 'household income' being jointly the housewifes'?  They have a joint tax return (I'm guessing) so the income is shared.  It should pass a F/R.  It certainly works nicely on applications.  No job on application, yet have an  income.  get approved for cc's.
Title: Re: Credit Card For Beginners
Post by: Saver2000 on May 09, 2013, 03:15:53 AM
Saveer2000
What's wrong with 'household income' being jointly the housewifes'?  They have a joint tax return (I'm guessing) so the income is shared.  It should pass a F/R.  It certainly works nicely on applications.  No job on application, yet have an  income.  get approved for cc's.
Sorry, I misunderstood your post. I just reread it, and now I understand what you're saying.

I thought you meant to say "household income is your income (as opposed to including your wifes salary in that amount ) ".
Title: Re: Credit Card For Beginners
Post by: rots5 on May 09, 2013, 07:41:48 AM
i have to pay for a hotel, which card?

ink bold
spg
PRG
amex platt
hyatt
SP

TIA
Title: Re: Credit Card For Beginners
Post by: Moishebatchy on May 09, 2013, 08:36:09 AM
i have to pay for a hotel, which card?

ink bold
spg
PRG
amex platt
hyatt
SP

TIA

Which hotel?
Title: Re: Credit Card For Beginners
Post by: rots5 on May 09, 2013, 01:54:50 PM
Which hotel?
the pavilions in Phuket. Thru jetsetter
Title: Re: Credit Card For Beginners
Post by: Moishebatchy on May 09, 2013, 03:01:47 PM
the pavilions in Phuket. Thru jetsetter

SP.
Title: Re: Credit Card For Beginners
Post by: sky121 on May 09, 2013, 05:06:14 PM
Is there any credit card that offers any sort of protection for Ebay?
Looking to buy a new phone for someone.
Title: Re: Credit Card For Beginners
Post by: Marco Polo on May 09, 2013, 05:14:44 PM
Is there any credit card that offers any sort of protection for Ebay?
Looking to buy a new phone for someone.
Maybe PM brubenfeld :)
Title: Re: Credit Card For Beginners
Post by: sky121 on May 09, 2013, 05:18:04 PM
Maybe PM brubenfeld :)

I need a Sprint phone though. Not sure he has those.
Title: Re: Credit Card For Beginners
Post by: Marco Polo on May 09, 2013, 05:18:51 PM
I need a Sprint phone though. Not sure he has those.
Think he only does Verizon.
Title: Re: Credit Card For Beginners
Post by: sky121 on May 09, 2013, 05:19:57 PM
Think he only does Verizon.

Actually he did tell me he can get ATT as well. But yeah he mostly does Verizon I guess.
Title: Re: Credit Card For Beginners
Post by: DovtheBear on May 09, 2013, 07:10:51 PM
If i dont have an income but i live by my parents, what do i put down as income?
If i can become an AU on an old card that gets maxed out and carries a balance but affects the owners score well, shoud i?
Title: Re: Credit Card For Beginners
Post by: Shmulyg on May 09, 2013, 07:19:07 PM
If i can become an AU on an old card that gets maxed out and carries a balance but affects the owners score well, shoud i?
How do you know it affects the owner's score well?
Title: Re: Credit Card For Beginners
Post by: DovtheBear on May 09, 2013, 07:25:44 PM
How do you know it affects the owner's score well?
Its their only card and their score is good.
Title: Re: Credit Card For Beginners
Post by: raphy781 on May 09, 2013, 07:28:28 PM
If i dont have an income but i live by my parents, what do i put down as income?
If i can become an AU on an old card that gets maxed out and carries a balance but affects the owners score well, shoud i?
If you're over 21 you can include your parents income. Under 21 it's gotta be your own.
Title: Re: Credit Card For Beginners
Post by: DovtheBear on May 09, 2013, 07:30:00 PM
If you're over 21 you can include your parents income. Under 21 it's gotta be your own.
Really?
So what does the oilam suggest (im under 21)?
Title: Re: Credit Card For Beginners
Post by: raphy781 on May 09, 2013, 07:31:46 PM
Really?
So what does the oilam suggest (im under 21)?
Me too. I opened a secured card and put down like 8k as my annual income.
Title: Re: Credit Card For Beginners
Post by: DovtheBear on May 09, 2013, 07:33:00 PM
but i dont have any (real) income.
Title: Re: Credit Card For Beginners
Post by: Shreknit on May 09, 2013, 07:33:46 PM
but i dont have any (real) income.

There's plenty people who don't either and get cards.
Title: Re: Credit Card For Beginners
Post by: DovtheBear on May 09, 2013, 07:40:40 PM
There's plenty people who don't either and get cards.
i know. ::) But what do they write?
Title: Re: Credit Card For Beginners
Post by: sky121 on May 09, 2013, 07:41:46 PM
i know. ::) But what do they write?

They lie?
Title: Re: Credit Card For Beginners
Post by: DovtheBear on May 09, 2013, 07:42:47 PM
They lie?
::) How much?
Title: Re: Credit Card For Beginners
Post by: raphy781 on May 09, 2013, 07:44:22 PM
::) How much?
Are you in college/yeshiva?
Title: Re: Credit Card For Beginners
Post by: DovtheBear on May 09, 2013, 07:45:02 PM
Are you in college/yeshiva?
Nope (not yet). Yeshiva.
Title: Re: Credit Card For Beginners
Post by: raphy781 on May 09, 2013, 07:48:33 PM
Nope (not yet). Yeshiva.
Are you getting a degree of some sort? BTL etc.?
Title: Re: Credit Card For Beginners
Post by: DovtheBear on May 09, 2013, 07:51:26 PM
Are you getting a degree of some sort? BTL etc.?
Im getting credits.  :-\
Title: Re: Credit Card For Beginners
Post by: raphy781 on May 09, 2013, 07:55:06 PM
Im getting credits.  :-\
Apply for a student card
Title: Re: Credit Card For Beginners
Post by: DovtheBear on May 09, 2013, 07:57:58 PM
Apply for a student card
Yah i guess i will. Although my banker at chase said i might be able to apply soon for chase cards.
Title: Re: Credit Card For Beginners
Post by: Shmulyg on May 09, 2013, 08:19:55 PM
Its their only card and their score is good.
So then you should be good as well.
Title: Re: Credit Card For Beginners
Post by: DovtheBear on May 09, 2013, 08:23:29 PM
So then you should be good as well.
Thanks
Title: Re: Credit Card For Beginners
Post by: smaxber on May 10, 2013, 10:03:18 AM
Hey all I'm thinking of opening a card for my sister. She's 18 I'm thinking a student card. Either discover it or citi dividends....any reason to go for one over the other?
TIA
Title: Re: Credit Card For Beginners
Post by: Shmulyg on May 10, 2013, 10:05:11 AM
Hey all I'm thinking of opening a card for my sister. She's 18 I'm thinking a student card. Either discover it or citi dividends....any reason to go for one over the other?
TIA
Citi Dividends is not a student card, AFAIK. Cap1 Journey is from the easiest cards to get accepted to, IME.
Title: Re: Credit Card For Beginners
Post by: smaxber on May 10, 2013, 10:06:34 AM
Citi Dividends is not a student card, AFAIK.
Was "considered" at least 1 when I applied about 7-8 months ago...maybe they just help students with getting credit...
Title: Re: Credit Card For Beginners
Post by: smaxber on May 10, 2013, 11:35:26 AM
Citi Dividends is not a student card, AFAIK. Cap1 Journey is from the easiest cards to get accepted to, IME.
http://creditcards.citicards.com/usc/Dividend/Youth/Visa/2012/Nov/external/default.htm?BTData=M0c%2EB%2EB4f%2EJ%2EBXZ%2E6nh%2EOUg%2EdMK%2EeW9%2EBj%2ELB%2EcN&app=COLLEGE&sc=4C2CNG82&m=X0J6111111W&langId=EN&siteId=CB&B=V&screenID=3007&cmp=AFA~01~120201~CARDSACQ~CardOffers&uc=C9Z&t=t&link=Consumer%5F1582138323&ProspectID=578CB13366794ACEA7AF311D17E9BAED
Title: Re: Credit Card For Beginners
Post by: nobiggy on May 10, 2013, 11:36:08 AM
ftp://
Quote from: raphy781 link=topic=266.msg490037#msg490037 date551368143062
Are you in college/yeshiva?
write you make 55k all will be good!
Title: Re: Credit Card For Beginners
Post by: nobiggy on May 10, 2013, 11:37:56 AM
if I apply for a cc and I am an AU on a card and they owe $1000 but it's not past due will it effect me getting accepted? Also in general when I apply to a cc do I need to make sure I owe $@??
Title: Re: Credit Card For Beginners
Post by: Saver2000 on May 10, 2013, 11:40:16 AM
if I apply for a cc and I am an AU on a card and they owe $1000 but it's not past due will it effect me getting accepted? Also in general when I apply to a cc do I need to make sure I owe $@??
First of all, it depends what the credit line is on that card. If the balance owed is a small percentage of the CL, then its okay.

Second of all, it depends on your income.

If you put down that you make $50k a year, and you have $35k in outstanding debt, its not going to be good. (Even if your utilization rate is low)
Title: Re: Credit Card For Beginners
Post by: Barryg on May 10, 2013, 11:41:16 AM
if I apply for a cc and I am an AU on a card and they owe $1000 but it's not past due will it effect me getting accepted? Also in general when I apply to a cc do I need to make sure I owe $@??

It depends on the credit line, if it's $1000 owed out of $5000 credit line, that's 20% for that card. But, really in utilization ratio the take all cards into consideration and divide amount owed / credit line. They say that utilization of 0 or 0% is bad for score, but that is prob difficult to do unless you have very few cards.
Title: Re: Credit Card For Beginners
Post by: Shmulyg on May 10, 2013, 11:45:27 AM
http://creditcards.citicards.com/usc/Dividend/Youth/Visa/2012/Nov/external/default.htm?BTData=M0c%2EB%2EB4f%2EJ%2EBXZ%2E6nh%2EOUg%2EdMK%2EeW9%2EBj%2ELB%2EcN&app=COLLEGE&sc=4C2CNG82&m=X0J6111111W&langId=EN&siteId=CB&B=V&screenID=3007&cmp=AFA~01~120201~CARDSACQ~CardOffers&uc=C9Z&t=t&link=Consumer%5F1582138323&ProspectID=578CB13366794ACEA7AF311D17E9BAED
I was not aware of that. Still, IME, the Journey is the way to go.
Title: Re: Credit Card For Beginners
Post by: raphy781 on May 10, 2013, 11:46:08 AM
ftp://write you make 55k all will be good!
I was asked to prove 42k.....
Title: Re: Credit Card For Beginners
Post by: smaxber on May 10, 2013, 12:11:16 PM
I was not aware of that. Still, IME, the Journey is the way to go.

But that's cap 1. And 3 pulls...what about discover IT?
Title: Re: Credit Card For Beginners
Post by: meshugener on May 10, 2013, 02:48:14 PM
Its not 3 pulls, its one pull on each report, which isn't such a big deal for a beginner.
Title: Re: Credit Card For Beginners
Post by: Dan on May 10, 2013, 02:54:31 PM
But that's cap 1. And 3 pulls...what about discover IT?
Discover It has 5% rotating categories which makes it a good choice.
Title: Re: Credit Card For Beginners
Post by: smaxber on May 10, 2013, 02:59:53 PM
Discover It has 5% rotating categories which makes it a good choice.

Thanks! Appreciate it. I'll get on it as well hopefully by starting her our early on she won't have problems when she wants to start applying for more
Title: Re: Credit Card For Beginners
Post by: nobiggy on May 10, 2013, 03:56:41 PM
It depends on the credit line, if it's $1000 owed out of $5000 credit line, that's 20% for that card. But, really in utilization ratio the take all cards into consideration and divide amount owed / credit line. They say that utilization of 0 or 0% is bad for score, but that is prob difficult to do unless you have very few cards.
so should I make sure I don't pay off my bill before applying?
Title: Re: Credit Card For Beginners
Post by: DovtheBear on May 12, 2013, 12:02:48 AM
Isn't it recommended to not close you first card?
If so, what should one do with a Secure Card (as a first card)?
Also, is a Secure Card at Apple Bank good? (Im already a customer there)
Title: Re: Credit Card For Beginners
Post by: meshugener on May 12, 2013, 12:05:07 AM
Most banks allow you to change a secure card to a regular credit card after a certain period of time.
Title: Re: Credit Card For Beginners
Post by: Barryg on May 12, 2013, 12:07:05 AM
so should I make sure I don't pay off my bill before applying?

If this is your only card with a balance and you want to keep utilization low then pay the bill BEFORE the end of cycle. If you believe in theory that 0 utilization is bad for credit score then leave over a few dollars (example $100 owed out of $5000 credit line is 2% and) they say anything under 20% is good.
Title: Re: Credit Card For Beginners
Post by: Shmulyg on May 12, 2013, 12:07:53 AM
Isn't it recommended to not close you first card?
If so, what should one do with a Secure Card (as a first card)?
It mainly matters if it's your oldest card, and has some years on it. Either way, even closed cards stay on you credit report for 7 years after closing and count towards your average history. So, b'kitzur, just make sure your first actual CC has no AF.

Also, is a Secure Card at Apple Bank good? (Im already a customer there)
I don't think it makes much of a difference which bank it is from. Unless, as Mesh pointed out, you wanna later convert it to a no-AF CC, so ask them their policy vis-a-vis that.
Title: Re: Credit Card For Beginners
Post by: DovtheBear on May 12, 2013, 12:13:43 AM
Ah. I think i got it.
Does it make a difference in which bank my oldest card is?
And whats AF?
Thanks!
Title: Re: Credit Card For Beginners
Post by: Shmulyg on May 12, 2013, 12:16:42 AM
Does it make a difference in which bank my oldest card is?
Not AFAIK.

And whats AF?
Annual Fee. You don't wan't to be stuck paying a yearly fee on your first card, being too hesitant to close it.
Title: Re: Credit Card For Beginners
Post by: smaxber on May 12, 2013, 12:26:59 AM
How often can one apply for cards?
In same bank?
Diff bank? Like chase and then amex or citi
Title: Re: Credit Card For Beginners
Post by: DovtheBear on May 12, 2013, 12:29:24 AM
Ok. Thanks.
So hows this?
I open a Secure Card at Apple, if they have a non-AF card, fine. If not my next card will have to be my "first", and i'll close the Apple one totally. Sound good?
Title: Re: Credit Card For Beginners
Post by: smaxber on May 12, 2013, 12:36:25 AM
Ok. Thanks.
So hows this?
I open a Secure Card at Apple, if they have a non-AF card, fine. If not my next card will have to be my "first", and i'll close the Apple one totally. Sound good?
+1
Title: Re: Credit Card For Beginners
Post by: Shmulyg on May 12, 2013, 01:17:52 AM
Ok. Thanks.
So hows this?
I open a Secure Card at Apple, if they have a non-AF card, fine. If not my next card will have to be my "first", and i'll close the Apple one totally. Sound good?
Yup. But you could also always shop around a bit and find someone who will offer a secure card that can later be turned into a non-AF CC.
Title: Re: Credit Card For Beginners
Post by: Shmulyg on May 12, 2013, 01:21:14 AM
How often can one apply for cards?
In same bank?
Diff bank? Like chase and then amex or citi
If you are a habitual churner you should stick to AORs spread out by at least 3-4 months. If you just apply from time to time, you should be fine whenever you do it.
Title: Re: Credit Card For Beginners
Post by: Thingywingy on May 12, 2013, 01:35:31 AM
I know Amex asks for social of AUs. Will chase and citi take it if offered? Will it help your score if they don't have it in file?
Title: Re: Credit Card For Beginners
Post by: smaxber on May 12, 2013, 01:39:18 AM
If you are a habitual churner you should stick to AORs spread out by at least 3-4 months. If you just apply from time to time, you should be fine whenever you do it.

How long does it take you CS to bounce back after the initial hit from request of credit?
Title: Re: Credit Card For Beginners
Post by: ckmk47 on May 12, 2013, 02:59:18 AM
How long does it take you CS to bounce back after the initial hit from request of credit?
I don't know the answer to your question, but the hit is only a few points per inquiry (hard pull).  That's the beauty of 2,3,4BMs - you get several cc's with their bonuses and only one credit hit.
Title: Re: Credit Card For Beginners
Post by: Shmulyg on May 12, 2013, 03:19:57 AM
the hit is only a few points per inquiry (hard pull).
Not completely correct. Besides for the hit from the inquiry, your average CC history length also takes a hit (except when applying for business cards).
Title: Re: Credit Card For Beginners
Post by: Shmulyg on May 12, 2013, 03:24:58 AM
How long does it take you CS to bounce back after the initial hit from request of credit?
The hit from the inquiry gradually diminishes until it completely disappears after two years. While the hit from the shortening of your average CC history length, well, that depends on how many cards you have and how long you had them etc...
Title: Re: Credit Card For Beginners
Post by: smaxber on May 12, 2013, 08:22:16 AM
The hit from the inquiry gradually diminishes until it completely disappears after two years. While the hit from the shortening of your average CC history length, well, that depends on how many cards you have and how long you had them etc...

So a churner would have a low average and therefore hurts himself?
Any way to bring it up besides stopping if that's the case?
Title: Re: Credit Card For Beginners
Post by: Shmulyg on May 12, 2013, 09:02:53 AM
So a churner would have a low average and therefore hurts himself?
Any way to bring it up besides stopping if that's the case?
That's why it's recommended to leave open your oldest cards, to add length to your average. Also, cards stay on your report for 7 years after their closure, so your average is never that short. Additionally, biz cards don't count. But yes, a habitual churner will never have a very long average card history. That's probably the weakest point of most of our credit scores :(
Title: Re: Credit Card For Beginners
Post by: DovtheBear on May 12, 2013, 09:08:39 AM
Everyone here recommends only leaving a small percentage of unpaid balance when the statement closes. Does it make a difference if thats all u spent?
For example if i only spend 25 on 500 CL, and leave it till the end, is it the same as spending 400 and paying 375 right away?
Title: Re: Credit Card For Beginners
Post by: Shmulyg on May 12, 2013, 09:18:27 AM
Everyone here recommends only leaving a small percentage of unpaid balance when the statement closes. Does it make a difference if thats all u spent?
For example if i only spend 25 on 500 CL, and leave it till the end, is it the same as spending 400 and paying 375 right away?
Yup.
Title: Re: Credit Card For Beginners
Post by: smaxber on May 12, 2013, 11:08:22 AM
Everyone here recommends only leaving a small percentage of unpaid balance when the statement closes. Does it make a difference if thats all u spent?
For example if i only spend 25 on 500 CL, and leave it till the end, is it the same as spending 400 and paying 375 right away?
Yes
Title: Re: Credit Card For Beginners
Post by: smaxber on May 12, 2013, 11:08:56 AM
That's why it's recommended to leave open your oldest cards, to add length to your average. Also, cards stay on your report for 7 years after their closure, so your average is never that short. Additionally, biz cards don't count. But yes, a habitual churner will never have a very long average card history. That's probably the weakest point of most of our credit scores :(

So anyway you see bringing your score 800+?
Title: Re: Credit Card For Beginners
Post by: Dan on May 12, 2013, 11:13:49 AM
That's why it's recommended to leave open your oldest cards, to add length to your average. Also, cards stay on your report for 7 years after their closure, so your average is never that short. Additionally, biz cards don't count. But yes, a habitual churner will never have a very long average card history. That's probably the weakest point of most of our credit scores :(
10 years.
Title: Re: Credit Card For Beginners
Post by: Shmulyg on May 12, 2013, 08:26:10 PM
10 years.
Nice!
Title: Re: Credit Card For Beginners
Post by: mek on May 12, 2013, 08:32:30 PM
My brother is having trouble opening a card. Every card he applied for told him that they cant verify his information or that he has too little history. This includes even the secured card from BoA as well as different student cards. What do you suggest he do?
Title: Re: Credit Card For Beginners
Post by: jj1000 on May 12, 2013, 08:35:02 PM
My brother is having trouble opening a card. Every card he applied for told him that they cant verify his information or that he has too little history. This includes even the secured card from BoA as well as different student cards. What do you suggest he do?
AU, Joint user.
Title: Re: Credit Card For Beginners
Post by: Solomon on May 12, 2013, 08:35:12 PM
My brother is having trouble opening a card. Every card he applied for told him that they cant verify his information or that he has too little history. This includes even the secured card from BoA as well as different student cards. What do you suggest he do?
tried already putting him up as a AU on a existing card?
Title: Re: Credit Card For Beginners
Post by: Shmulyg on May 12, 2013, 08:35:39 PM
My brother is having trouble opening a card. Every card he applied for told him that they cant verify his information or that he has too little history. This includes even the secured card from BoA as well as different student cards. What do you suggest he do?
Seems like you skipped stem 1 in the wiki.
Title: Re: Credit Card For Beginners
Post by: mek on May 12, 2013, 08:37:47 PM
Seems like you skipped stem 1 in the wiki.

To be an Au? lets say thats not an option? Also why would he have trouble being approved for a secured card?
Title: Re: Credit Card For Beginners
Post by: Shmulyg on May 12, 2013, 08:47:52 PM
To be an Au? lets say thats not an option? Also why would he have trouble being approved for a secured card?
No one will add him? Parents, friends...
Title: Re: Credit Card For Beginners
Post by: meshugener on May 12, 2013, 09:32:26 PM
No one will add him? Parents, friends...
Than I can add him.
But my bank asks for SS# and DOB.
Title: Re: Credit Card For Beginners
Post by: jj1000 on May 12, 2013, 09:38:41 PM
Than I can add him.
But my bank asks for SS# and DOB.
so this is how you have so many SS#'s to work with? Did you work in Morristown ever? ;)
Title: Re: Credit Card For Beginners
Post by: meshugener on May 12, 2013, 10:07:09 PM
so this is how you have so many SS#'s to work with? Did you work in Morristown ever? ;)
:-X
Title: Re: Credit Card For Beginners
Post by: mek on May 12, 2013, 10:08:00 PM
No one will add him? Parents, friends...

He doesnt want to start that way for some reason. He wants to have his own line of credit without doing that. But why would he be unable to get a secured card? Also, what about building credit through a secured loan using your savings account? Pay it off in ~3-4 months and the interest is lower than the annual fee on a secured card and then you wont have any issues closing the secured card plus you wont have to wait for it to be turned into a regular card. Do the loan and 4 months later apply for a student card or discover it or wtvr. Is this a bad idea?
Title: Re: Credit Card For Beginners
Post by: jj1000 on May 12, 2013, 10:48:40 PM
He doesnt want to start that way for some reason. He wants to have his own line of credit without doing that. But why would he be unable to get a secured card? Also, what about building credit through a secured loan using your savings account? Pay it off in ~3-4 months and the interest is lower than the annual fee on a secured card and then you wont have any issues closing the secured card plus you wont have to wait for it to be turned into a regular card. Do the loan and 4 months later apply for a student card or discover it or wtvr. Is this a bad idea?
Maybe he's not being approved because he sounds thick. Why not add as an AU? That baffles me. Maybe he also will only write he earns $5 annually.

I don't mean any offence but I don't have much sympathy for someone who wants to play baseball but won't put on a mitt or pick up a bat...
Title: Re: Credit Card For Beginners
Post by: raphy781 on May 12, 2013, 11:15:35 PM
Maybe he's not being approved because he sounds thick. Why not add as an AU? That baffles me. Maybe he also will only write he earns $5 annually.

I don't mean any offence but I don't have much sympathy for someone who wants to play baseball but won't put on a mitt or pick up a bat...
Woooooaaa. I've never seen anyone so passionate over a credit card;D:P
Title: Re: Credit Card For Beginners
Post by: jj1000 on May 12, 2013, 11:21:06 PM
Woooooaaa. I've never seen anyone so passionate over a credit card;D:P
lol, You have no idea. Opened 16 today, this is serious stuff :P
Title: Re: Credit Card For Beginners
Post by: Thingywingy on May 12, 2013, 11:28:38 PM
lol, You have no idea. Opened 16 today, this is serious stuff :P
16 for how many people?
Title: Re: Credit Card For Beginners
Post by: jj1000 on May 12, 2013, 11:32:28 PM
16 for how many people?
2. Doing more soon im"yh. (some are still pending)
Title: Re: Credit Card For Beginners
Post by: Barryg on May 12, 2013, 11:49:47 PM
lol, You have no idea. Opened 16 today, this is serious stuff :P
What else are you gonna do when it's hailing in May, drive around in a convertible??
Title: Re: Credit Card For Beginners
Post by: jj1000 on May 12, 2013, 11:52:16 PM
What else are you gonna do when it's hailing in May, drive around in a convertible??
Very funny you say that! I took it out today for the first time!
Title: Re: Credit Card For Beginners
Post by: dsw193 on May 13, 2013, 12:21:49 AM
To be an Au? lets say thats not an option? Also why would he have trouble being approved for a secured card?
I also had trouble getting secured cc from BOFA they made me send in social and proof of address etc.. To credit bureaus for them to open credit file not sure the exact process but I think banker processed everything for me if I remember correctly (was in Jan 2010). 
Title: Re: Credit Card For Beginners
Post by: Shreknit on May 13, 2013, 12:22:38 AM
2. Doing more soon im"yh. (some are still pending)

Hope your getting paid.
Title: Re: Credit Card For Beginners
Post by: jj1000 on May 13, 2013, 12:26:27 AM
Hope your getting paid.
Family is family :)
Title: Re: Credit Card For Beginners
Post by: hershy on May 13, 2013, 12:31:05 AM
I also had trouble getting secured cc from BOFA they made me send in social and proof of address etc.. To credit bureaus for them to open credit file not sure the exact process but I think banker processed everything for me if I remember correctly (was in Jan 2010).
I started with a secured card as well they asked me the first time to send in proof ssc etc. so I requested a free credit report from all 3 and saw they had mixed info about myself for example my wife ssn on my name.
Title: Re: Credit Card For Beginners
Post by: Barryg on May 13, 2013, 01:04:50 AM
Family is family :)

Good idea, I mean - reminder... (was on the to do list a while ago)

Very funny you say that! I took it out today for the first time!
Rofl
And I got a suntan from being outdoors... kinda reminds me of the skiing days.

Back on topic, hoping to do an app-o-rama for beginners within the next few weeks - just need to find 3 vr's tomorrow so I can transfer credit to the correct places - right after cc statement with a high balance last month closes with a very low balance (to look better for recon - if needed). If all goes well, it should make for a good ddf story/post...
Title: Re: Credit Card For Beginners
Post by: DovtheBear on May 13, 2013, 09:20:07 AM
Does the CL make a difference? For example if on a secured card they give me a option of how much to get, is higher better?
Also does the utilization go by percent or by amount? Like, if i use 300 out of 3k is that the same as 30 out of 300?
Title: Re: Credit Card For Beginners
Post by: meshugener on May 13, 2013, 09:22:52 AM
I believe the higher the better.
Title: Re: Credit Card For Beginners
Post by: htg123 on May 13, 2013, 09:24:32 AM
i recently received an ITIN in lieu of a SSN. I became an AU on Amex cards of two different ppl. How long will it take to affect my credit score? Does it make sense that Amex made a hard pull on me? coz i applied for a discover student card and got denied, they told me to call Transunion, and they told me i had too many pulls on my name. I  did apply for capital one secured a month ago and they still havent made a decision. but transunion said I have another pull on my name, they wont tell me who its from.
Title: Re: Credit Card For Beginners
Post by: meshugener on May 13, 2013, 09:26:40 AM
Get a copy of your credit report and see for yourself.
Title: Re: Credit Card For Beginners
Post by: htg123 on May 13, 2013, 09:28:50 AM
what about the other question
Title: Re: Credit Card For Beginners
Post by: smaxber on May 13, 2013, 10:10:55 AM
lol, You have no idea. Opened 16 today, this is serious stuff :P

Wow! Maybe you'll consider throwing some in for me  ;D

There has to be something more to this trade than just clicking submit. You HUCA also for them?
Title: Re: Credit Card For Beginners
Post by: DovtheBear on May 13, 2013, 09:09:44 PM
Do all CC issuers automatically backdate the history for an Au?
How long does it take?
Title: Re: Credit Card For Beginners
Post by: MEIR613 on May 13, 2013, 09:20:01 PM
Do all CC issuers automatically backdate the history for an Au?
How long does it take?
No.

Only Amex AFAIK

Title: Re: Credit Card For Beginners
Post by: DovtheBear on May 13, 2013, 09:20:47 PM
No.

Only Amex AFAIK
Aw, really. So when does it start?
Title: Re: Credit Card For Beginners
Post by: Shreknit on May 13, 2013, 10:08:37 PM
Aw, really. So when does it start?

Dov I see your very active all of a sudden. Trying to get to 1000 by next week?
Title: Re: Credit Card For Beginners
Post by: DovtheBear on May 13, 2013, 10:10:53 PM
Dov I see your very active all of a sudden.
Huh?
Trying to get to 1000 by next week?
No. Im always active at this time of day. Im nocturnal  :D
Title: Re: Credit Card For Beginners
Post by: Shmulyg on May 13, 2013, 11:22:08 PM
Dov I see your very active all of a sudden. Trying to get to 1000 by next week?
The poor kid just turned 18...  :'(
He's been on the sidelines all this time...
Title: Re: Credit Card For Beginners
Post by: DovtheBear on May 13, 2013, 11:25:58 PM
The poor kid just turned 18...  :'(
He's been on the sidelines all this time...
+1
Thanks for the backup.
Title: Re: Credit Card For Beginners
Post by: smaxber on May 13, 2013, 11:34:19 PM
The poor kid just turned 18...  :'(
He's been on the sidelines all this time...
Lol
Title: Re: Credit Card For Beginners
Post by: jaywhy on May 14, 2013, 12:00:06 AM
+1
Thanks for the backup.
Props for being on the sidelines this whole time without even playing the game.  :)
Title: Re: Credit Card For Beginners
Post by: raphy781 on May 14, 2013, 12:45:48 AM
i recently received an ITIN in lieu of a SSN. I became an AU on Amex cards of two different ppl. How long will it take to affect my credit score? Does it make sense that Amex made a hard pull on me? coz i applied for a discover student card and got denied, they told me to call Transunion, and they told me i had too many pulls on my name. I  did apply for capital one secured a month ago and they still havent made a decision. but transunion said I have another pull on my name, they wont tell me who its from.
My sister was declined by both BOA and capital one (for the secured card). I added her as an AU on my starwoods account and 5 months later she was approved for a gap card.
Title: Re: Credit Card For Beginners
Post by: DovtheBear on May 14, 2013, 02:49:53 PM
Props for being on the sidelines this whole time without even playing the game.  :)
Thanks
Title: Re: Credit Card For Beginners
Post by: DovtheBear on May 14, 2013, 05:13:08 PM
Is there a problem with applying (and hopefully even getting) 2 secured cards?
Also, do i have to keep them for a certain amount time? Regarding both the bank and my CS.
Title: Re: Credit Card For Beginners
Post by: raphy781 on May 14, 2013, 05:39:06 PM
Is there a problem with applying (and hopefully even getting) 2 secured cards?
Also, do i have to keep them for a certain amount time? Regarding both the bank and my CS.
After a few months with the secured card you should have no problem getting a regular card, so why pay an annual fee for 2 cards?
Title: Re: Credit Card For Beginners
Post by: DovtheBear on May 14, 2013, 05:45:00 PM
After a few months with the secured card you should have no problem getting a regular card, so why pay an annual fee for 2 cards?
1st of all, wont that build credit faster?
2nd the second is a better offer and i didn't see it before.
Title: Re: Credit Card For Beginners
Post by: dsw193 on May 14, 2013, 05:54:51 PM
1st of all, wont that build credit faster?
2nd the second is a better offer and i didn't see it before.
getting second will lower your already low age.
Title: Re: Credit Card For Beginners
Post by: Shmulyg on May 14, 2013, 06:22:36 PM
getting second will lower your already low age.
-1
Not is he just got his first.
Title: Re: Credit Card For Beginners
Post by: DovtheBear on May 14, 2013, 06:36:52 PM
-1
Not is he just got his first.
Apple bank takes a couple of days to review app, and i just also applied for the LAN but got denied. What should i do? Retry (with higher income)?
Title: Re: Credit Card For Beginners
Post by: Thingywingy on May 14, 2013, 06:37:24 PM
I would think its better without.
Title: Re: Credit Card For Beginners
Post by: DovtheBear on May 14, 2013, 06:37:56 PM
I would think its better without.
Are you answering me?
Title: Re: Credit Card For Beginners
Post by: Thingywingy on May 14, 2013, 06:41:49 PM
Are you answering me?
yes. I dont know for sure but I would think a cleaner record would be better at this point.
Title: Re: Credit Card For Beginners
Post by: DovtheBear on May 14, 2013, 06:44:38 PM
yes. I dont know for sure but I would think a cleaner record would be better at this point.
So, are you telling me that the instant denial also had a "pull"?
Title: Re: Credit Card For Beginners
Post by: Shmulyg on May 14, 2013, 06:50:24 PM
So, are you telling me that the instant denial also had a "pull"?
Most definitely.
Title: Re: Credit Card For Beginners
Post by: DovtheBear on May 14, 2013, 07:06:32 PM
Most definitely.
But on what?
Title: Re: Credit Card For Beginners
Post by: Shmulyg on May 14, 2013, 07:21:53 PM
But on what?
I'm not following.
Title: Re: Credit Card For Beginners
Post by: dsw193 on May 19, 2013, 10:46:02 AM
A chase teller told me last week while making a deposit that she sees that I'm pre-approved for a credit card does it mean anything or is it just a marketing pitch?
Title: Re: Credit Card For Beginners
Post by: sky121 on May 19, 2013, 10:47:01 AM
A chase teller told me last week while making a deposit that she sees that I'm pre-approved for a credit card does it mean anything or is it just a marketing pitch?

Doesn't mean much. Unless it's a targeted offer (better sign up bonus) in which case you might want to check out the details.
Title: Re: Credit Card For Beginners
Post by: Dan on May 19, 2013, 11:14:31 AM
A chase teller told me last week while making a deposit that she sees that I'm pre-approved for a credit card does it mean anything
Nope.
Title: Re: Credit Card For Beginners
Post by: Thingywingy on May 19, 2013, 03:41:16 PM
Is being added as an AU to a longstanding account help to improve your credit score even further if you already have your own personal accounts with that bank in good standing?
Title: Re: Credit Card For Beginners
Post by: smaxber on May 19, 2013, 06:49:27 PM
Is being added as an AU to a longstanding account help to improve your credit score even further if you already have your own personal accounts with that bank in good standing?
AFAIK only with AMEX
Title: Re: Credit Card For Beginners
Post by: Matovu on May 19, 2013, 11:09:32 PM
I appllied for a business card recently ( i do have a few) and i get an email that there was a credit inquiry ....
I thought a buisiness card does not affect my personal credit report.
Help
Title: Re: Credit Card For Beginners
Post by: Shmulyg on May 19, 2013, 11:22:12 PM
I appllied for a business card recently ( i do have a few) and i get an email that there was a credit inquiry ....
I thought a buisiness card does not affect my personal credit report.
Help
Except the inquiry...
Title: Re: Credit Card For Beginners
Post by: shimino1 on May 20, 2013, 09:43:34 AM
Except the inquiry...
+1
Title: Re: Credit Card For Beginners
Post by: ckmk47 on May 20, 2013, 11:23:27 AM
Is being added as an AU to a longstanding account help to improve your credit score even further if you already have your own personal accounts with that bank in good standing?
I think being a joint owner/ responsible party for an old account helps lengthen your credit history, thus improving your credit score.
Title: Re: Credit Card For Beginners
Post by: miles on May 21, 2013, 01:11:33 PM
i applied for my brother for his first card for the LH M&M and he was approved
Title: Re: Credit Card For Beginners
Post by: Thingywingy on May 21, 2013, 02:49:39 PM
Does being added as AU help even with non-Amex cards? Amex is the only one that requirses AU's SS?
Title: Re: Credit Card For Beginners
Post by: Barryg on May 21, 2013, 03:03:06 PM
Does being added as AU help even with non-Amex cards? Amex is the only one that requirses AU's SS?

I've seen it count, it will count if they are able to report it to credit bureau. For example, if I am a citi customer and my wife has cc with them and I am au, then it will be reported. Not sure how far they go to identify ppl and report...
Title: Re: Credit Card For Beginners
Post by: Zevwolf on May 21, 2013, 03:47:28 PM
Capital one also ask'd me for the AU ss number.
Title: Re: Credit Card For Beginners
Post by: Thingywingy on May 21, 2013, 04:00:40 PM
Capital one also ask'd me for the AU ss number.
Thanks. The potential card is a Citi card.
Title: Re: Credit Card For Beginners
Post by: Hiding on May 21, 2013, 04:26:55 PM
All banks (chase,citi,amex etc) can be given a SS#.  It will help with citi also to backdate
Title: Re: Credit Card For Beginners
Post by: htg123 on May 21, 2013, 07:23:35 PM
All banks (chase,citi,amex etc) can be given a SS#.  It will help with citi also to backdate
Just called citi to add my ssn to my AU card. they told me such a thing does not exist. HUCA'd. No difference. Just saying
Title: Re: Credit Card For Beginners
Post by: U-no-me! on May 21, 2013, 07:57:54 PM
Just called citi to add my ssn to my AU card. they told me such a thing does not exist. HUCA'd. No difference. Just saying

I have citi cards with AU
Title: Re: Credit Card For Beginners
Post by: Hiding on May 21, 2013, 08:01:10 PM
Just called citi to add my ssn to my AU card. they told me such a thing does not exist. HUCA'd. No difference. Just saying
I have citi cards with AU
He seems to be saying that they said they wont backdate it.
theyre wrong (from exp)
Title: Re: Credit Card For Beginners
Post by: Thingywingy on May 21, 2013, 08:07:57 PM
He seems to be saying that they said they wont backdate it.
theyre wrong (from exp)
Hes not saying they won't backdate it; hes saying they don't add social to account.
Title: Re: Credit Card For Beginners
Post by: Saver2000 on May 21, 2013, 08:12:22 PM
I have citi cards with AU
With SSN?
Title: Re: Credit Card For Beginners
Post by: htg123 on May 21, 2013, 08:22:35 PM
I have citi cards with AU

Whooops..sorry. my mistake. I meant chase...
Title: Re: Credit Card For Beginners
Post by: EMES on May 21, 2013, 08:43:17 PM
Whooops..sorry. my mistake. I meant chase...
personal or business ?
Title: Re: Credit Card For Beginners
Post by: shimino1 on May 22, 2013, 09:05:21 AM
I have citi cards with AU

I am an AU with cici with ssn
Title: Re: Credit Card For Beginners
Post by: htg123 on May 22, 2013, 10:59:06 AM
personal or business ?
Personal
Title: Re: Credit Card For Beginners
Post by: chookshook on May 22, 2013, 05:07:48 PM
I applied for beginner chase and amex cards 3 months ago. Already had discover for close to a year and the amex got back dated so my aaoa is over a year. Next I did a 3x CLI with amex which took my limit from 4500 to 13500. Should I wait till amex reports the credit increase to the credit agencies to apply for new cards? My total limits are about 10k before and 20k after. My income isn't very high.
Title: Re: Credit Card For Beginners
Post by: Shmulyg on May 22, 2013, 07:35:36 PM
I applied for beginner chase and amex cards 3 months ago. Already had discover for close to a year and the amex got back dated so my aaoa is over a year. Next I did a 3x CLI with amex which took my limit from 4500 to 13500. Should I wait till amex reports the credit increase to the credit agencies to apply for new cards? My total limits are about 10k before and 20k after. My income isn't very high.
Unless your utilization ratio is terrible, i'd say waiting will only harm you.
Title: Re: Credit Card For Beginners
Post by: EMES on May 22, 2013, 07:37:04 PM
Unless your utilization ratio is terrible, i'd say waiting will only harm you.
why would waiting harm him?
Title: Re: Credit Card For Beginners
Post by: Shmulyg on May 22, 2013, 07:44:04 PM
why would waiting harm him?
Chase doesn't like high credit lines with low incomes.
Title: Re: Credit Card For Beginners
Post by: chookshook on May 23, 2013, 01:04:39 AM
Chase doesn't like high credit lines with low incomes.
That's what I was thinking. My total limits will be very close to annual income.

Thanks for your help.
Title: Re: Credit Card For Beginners
Post by: Racer7400 on May 23, 2013, 09:04:52 AM
Anyone know if chase stopped allowing joint user credit card accounts? I wanted to add my wife as a joint account on my freedom but the 4 different CSR's I spoke to all told me its a new rule they are implementing.
Title: Re: Credit Card For Beginners
Post by: EMES on May 23, 2013, 09:18:23 AM
Anyone know if chase stopped allowing joint user credit card accounts? I wanted to add my wife as a joint account on my freedom but the 4 different CSR's I spoke to all told me its a new rule they are implementing.
recently added someone In a bank branch
Title: Re: Credit Card For Beginners
Post by: Racer7400 on May 23, 2013, 11:50:11 AM
recently added someone In a bank branch
thanx. I will try that.
Title: Re: Credit Card For Beginners
Post by: Barryg on May 23, 2013, 12:50:50 PM
Chase doesn't like high credit lines with low incomes.
That's what I was thinking. My total limits will be very close to annual income.

Thanks for your help.

Is this total limits with all banks, or just with Chase?

What about higher line with higher income?
Meaning - with a high credit score (not many pulls, low to medium, like 30%, utilization, 10 year history, many cards open)- Would Chase deny someone cc's if they had a whole bunch of cc's with total limits close to income? Would they give a hard time in a 3/4bm?
(no chase bank acc btw)

Thanks
Title: Re: Credit Card For Beginners
Post by: Thingywingy on May 23, 2013, 04:24:08 PM
Can anyone verify that being added as an AU with non-Amex card improves credit score even though they dont take SS?
Title: Re: Credit Card For Beginners
Post by: MEIR613 on May 23, 2013, 04:38:05 PM
Can anyone verify that being added as an AU with non-Amex card improves credit score even though they dont take SS?
I can, but it's YMMV. 
Title: Re: Credit Card For Beginners
Post by: Thingywingy on May 23, 2013, 04:55:18 PM
How can it be picked up by credit agency without SS?
Title: Re: Credit Card For Beginners
Post by: htg123 on May 23, 2013, 05:54:45 PM
It just does...the credit reporting agencies will somehow link them...even without having the SSN
Title: Re: Credit Card For Beginners
Post by: Shmulyg on May 24, 2013, 01:48:31 AM
It just does...the credit reporting agencies will somehow link them...even without having the SSN
+1
My father's 1993 card is on my report. He claims he never gave them my social. I don't recall what company it originally was (something obscure), but they were bought out (or something) and now it's a BoA.
Title: Re: Credit Card For Beginners
Post by: lechatchileh ariber on May 24, 2013, 01:56:06 AM
It just does...the credit reporting agencies will somehow link them...even without having the SSN
++1
I had a chase united regular for one and a half years, never gave a social (wasn't American)
got sent a prg invite from amex in the mail(which means nothing)
but they approved me without any recon
Title: Re: Credit Card For Beginners
Post by: Racer7400 on May 29, 2013, 07:49:43 PM
recently added someone In a bank branch
tried to add my wife as a joint account today in a branch, the banker said that they don't do this anymore. Can anyone confirm this.
Title: Re: Credit Card For Beginners
Post by: EMES on May 29, 2013, 08:25:33 PM
tried to add my wife as a joint account today in a branch, the banker said that they don't do this anymore. Can anyone confirm this.
was it a big branch ?
I recently did it in in Brooklyn 65 th st and 18th ave
Title: Re: Credit Card For Beginners
Post by: Racer7400 on May 29, 2013, 08:31:10 PM
was it a big branch ?
I recently did it in in Brooklyn 65 th st and 18th ave
idk what's considered a big branch. It was the one on Kennedy and the 9 next to the gas station in Lakewood. Maybe someone can fill in whether its a big one or not.
Title: Re: Credit Card For Beginners
Post by: EMES on May 29, 2013, 08:56:27 PM
idk what's considered a big branch. It was the one on Kennedy and the 9 next to the gas station in Lakewood. Maybe someone can fill in whether its a big one or not.
i wouldn't say that it's small since that's there most active branch in lakewood , and have. All sort of bankers there.

But try calling this Brooklyn branch Tom at 718-331-1701 and ask if they are still doing or where u can.
Regular Customers service probably won't know or be reliable 
Title: Re: Credit Card For Beginners
Post by: Racer7400 on May 29, 2013, 09:29:36 PM
i wouldn't say that it's small since that's there most active branch in lakewood , and have. All sort of bankers there.

But try calling this Brooklyn branch Tom at 718-331-1701 and ask if they are still doing or where u can.
Regular Customers service probably won't know or be reliable
i will try that.
Title: Re: Credit Card For Beginners
Post by: nobiggy on May 29, 2013, 10:38:15 PM
credit score 720 with less than 10% debt on 3 cards is it safe to apply for some cards?
Title: Re: Credit Card For Beginners
Post by: Smokey Joe Robinson on May 29, 2013, 11:13:29 PM
credit score 720 with less than 10% debt on 3 cards is it safe to apply for some cards?

based on that info I would say yes
Title: Re: Credit Card For Beginners
Post by: Moshe123 on May 29, 2013, 11:36:13 PM
credit score 720 with less than 10% debt on 3 cards is it safe to apply for some cards?

IIRC,  you're still lacking history.
Title: Re: Credit Card For Beginners
Post by: avadah on June 01, 2013, 05:19:56 PM
What card is good for someone with no credit no forex and no annual fee and is not capital one (asked too many questions)? It's for someone who's now on Israel so Dan's suggestion of the Gap card won't work.
Title: Re: Credit Card For Beginners
Post by: EMES on June 01, 2013, 10:18:51 PM
What card is good for someone with no credit no forex and no annual fee and is not capital one (asked too many questions)? It's for someone who's now on Israel so Dan's suggestion of the Gap card won't work.
discover student card
Title: Re: Credit Card For Beginners
Post by: meshugener on June 02, 2013, 10:20:35 AM
IIRC, you can apply for the Gap card online, so Israel shouldn't be a problem.

I think Dan even has a link.
http://www.dansdeals.com/go/
gap doesn't link to card app, but maybe he can post the link.
Title: Re: Credit Card For Beginners
Post by: mnscout on June 02, 2013, 02:21:54 PM
credit score 720 with less than 10% debt on 3 cards is it safe to apply for some cards?

Depends on how many cards and how long your credit history is.
Title: Re: Credit Card For Beginners
Post by: htg123 on June 02, 2013, 04:05:21 PM
Which bureau does gap pull from?
Title: Re: Credit Card For Beginners
Post by: mnscout on June 02, 2013, 09:02:45 PM
Which bureau does gap pull from?

http://creditboards.com/forums/index.php?autocom=creditpulls
Title: Re: Credit Card For Beginners
Post by: DovtheBear on June 04, 2013, 11:08:07 PM
A friend of mine has no Credit History, has never been an AU (as far as he knows) yet decided to apply for Starwoods.
He applied on his 18th birthday, putting down $100,000 in income and close to $500,000 in assets, when he makes no money, and owns the shirt on his back.
He was instantly approved for a $10,000 CL and $2,000 withdrawal.
1)Does this make (any) sense?
2) What should he do now?
Title: Re: Credit Card For Beginners
Post by: MEIR613 on June 04, 2013, 11:12:40 PM
A friend of mine has no Credit History, has never been an AU (as far as he knows) yet decided to apply for Starwoods.
He applied on his 18th birthday, putting down $100,000 in income and close to $500,000 in assets, when he makes no money, and owns the shirt on his back.
He was instantly approved for a $10,000 CL and $2,000 withdrawal.
1)Does this make (any) sense?
2) What should he do now?
1)Yes
2)Start spending
Title: Re: Credit Card For Beginners
Post by: Moshe123 on June 04, 2013, 11:13:07 PM
A friend of mine has no Credit History, has never been an AU (as far as he knows) yet decided to apply for Starwoods.
He applied on his 18th birthday, putting down $100,000 in income and close to $500,000 in assets, when he makes no money, and owns the shirt on his back.
He was instantly approved for a $10,000 CL and $2,000 withdrawal.
1)Does this make (any) sense?
2) What should he do now?

Lol!

Not do AP!

I guess that you should give it a shot with those numbers...
Title: Re: Credit Card For Beginners
Post by: DovtheBear on June 04, 2013, 11:21:05 PM
2)Start spending
Why?
Lol!

Not do AP!

I guess that you should give it a shot with those numbers...
Is it inadvisable to go the regular route (GW, BB, AP)?
Title: Re: Credit Card For Beginners
Post by: Shmulyg on June 05, 2013, 12:01:24 AM
Why?
To earn the 10k + 15k.

Is it inadvisable to go the regular route (GW, BB, AP)?
No AP. BB, yes, if done slowly. GW, AFAIK it's safe if done slowly.
Title: Re: Credit Card For Beginners
Post by: DovtheBear on June 05, 2013, 12:02:55 AM
To earn the 10k + 15k.
No AP. BB, yes, if done slowly. GW, AFAIK it's safe if done slowly.
Oh, okay.
Is this an advisable method for a beginner?
Why doesn't anyone else do it?
Title: Re: Credit Card For Beginners
Post by: Shmulyg on June 05, 2013, 12:41:52 AM
Oh, okay.
Is this an advisable method for a beginner?
Why doesn't anyone else do it?
He should check his credit report. Something is amiss.
Title: Re: Credit Card For Beginners
Post by: DovtheBear on June 05, 2013, 12:43:20 AM
He should check his credit report. Something is amiss.
Oh there is?
I was wondering why this wasn't a recommended method.
While on the subject, how does one assuage his conscience in regard to lying.
Title: Re: Credit Card For Beginners
Post by: tuvz on June 05, 2013, 12:47:55 AM
A friend of mine has no Credit History, has never been an AU (as far as he knows) yet decided to apply for Starwoods.
He applied on his 18th birthday, putting down $100,000 in income and close to $500,000 in assets, when he makes no money, and owns the shirt on his back.
He was instantly approved for a $10,000 CL and $2,000 withdrawal.
1)Does this make (any) sense?
2) What should he do now?



Buy a lottery ticket :)

Oh there is?
I was wondering why this wasn't a recommended method.
While on the subject, how does one assuage his conscience in regard to lying.

Theres a couple of threads about this and a general "is it ethical" thread.
Title: Re: Credit Card For Beginners
Post by: Shmulyg on June 05, 2013, 12:48:46 AM
While on the subject, how does one assuage his conscience in regard to lying.
Lol!
Title: Re: Credit Card For Beginners
Post by: glasses dude on June 05, 2013, 02:05:33 AM
Lol!
I suspect he's serious but he's young so he'll learn
Title: Re: Credit Card For Beginners
Post by: Thingywingy on June 06, 2013, 02:09:59 AM
Buy a lottery ticket :)

Buy me a lottery ticket!
Title: Re: Credit Card For Beginners
Post by: avadah on June 07, 2013, 02:04:32 AM
I know I'm supposed to hold onto my first card for my credit history but I want to downgrade it to avoid the annual fee. Would it be considered the same card or a new one?
Title: Re: Credit Card For Beginners
Post by: Shmulyg on June 07, 2013, 06:52:55 AM
I know I'm supposed to hold onto my first card for my credit history but I want to downgrade it to avoid the annual fee. Would it be considered the same card or a new one?
Usually the same, but depends on the issuer.
Title: Re: Credit Card For Beginners
Post by: avadah on June 07, 2013, 08:47:08 AM
Capital 1
Title: Re: Credit Card For Beginners
Post by: raphy781 on June 07, 2013, 10:05:05 AM
Capital 1
Is it the secured card?
Title: Re: Credit Card For Beginners
Post by: avadah on June 08, 2013, 03:04:24 PM
No it's the venture card.
Title: Re: Credit Card For Beginners
Post by: avadah on June 08, 2013, 03:06:00 PM
If I get approved instantly for a credit card does that mean there was no hard pull?
Title: Re: Credit Card For Beginners
Post by: U-no-me! on June 08, 2013, 03:12:57 PM
If I get approved instantly for a credit card does that mean there was no hard pull?

There was.
Title: Re: Credit Card For Beginners
Post by: mnscout on June 08, 2013, 08:31:48 PM
Lol!
Chuckle!
Title: Re: Credit Card For Beginners
Post by: Shmulyg on June 08, 2013, 09:35:20 PM
If I get approved instantly for a credit card does that mean there was no hard pull?
Wishful thinking...
Title: Re: Credit Card For Beginners
Post by: avadah on June 10, 2013, 05:35:45 PM
What's the number of Chase cards you can have at one time before they star giving you a hard time about applying for more? (I don't mean the most you can apply for at one time)
Title: Re: Credit Card For Beginners
Post by: jj1000 on June 10, 2013, 05:41:58 PM
What's the number of Chase cards you can have at one time before they star giving you a hard time about applying for more? (I don't mean the most you can apply for at one time)
Maybe 10+ but just offer to close an old one and you should be fine.
Title: Re: Credit Card For Beginners
Post by: avadah on June 10, 2013, 05:45:24 PM
Maybe 10+ but just offer to close an old one and you should be fine.
Just saw your chase line up plans for 6BM. You think 10+ for mortals too?
Title: Re: Credit Card For Beginners
Post by: jj1000 on June 10, 2013, 05:47:19 PM
Just saw your chase line up plans for 6BM. You think 10+ for mortals too?
If they ever give you a problem just offer to close an old card. The problem starts when you currently have the card you are applying for, or recently had the same card they may not want to approve you again for that card.

The other aspect is how many cards they allow you to open in a period of time, but that's a different question than total cards allowed.
Title: Re: Credit Card For Beginners
Post by: Aussie88 on June 10, 2013, 10:29:51 PM
Bit of a random question here. I was working for a camp and they made an AMEX business card with my name but under their acct. As far as i know they had none of my info besides my name and DOB. Will this card affect my credit if there are late payments etc.?
Not sure if this info is relevant, but I am not US (if you cant tell by my name lol), though I do have a partially secured BoA CC.
Title: Re: Credit Card For Beginners
Post by: Shmulyg on June 11, 2013, 04:35:45 AM
Bit of a random question here. I was working for a camp and they made an AMEX business card with my name but under their acct. As far as i know they had none of my info besides my name and DOB. Will this card affect my credit if there are late payments etc.?
Not sure if this info is relevant, but I am not US (if you cant tell by my name lol), though I do have a partially secured BoA CC.
CV claims Amex holds AUs accountable. Didn't get a chance to look it up yet.
Title: Re: Credit Card For Beginners
Post by: avadah on June 11, 2013, 07:22:46 AM
If they ever give you a problem just offer to close an old card. The problem starts when you currently have the card you are applying for, or recently had the same card they may not want to approve you again for that card.

The other aspect is how many cards they allow you to open in a period of time, but that's a different question than total cards allowed.
They told me they don't let you open more then 2 in 30 days but that's obviously not true. I was wondering how to get around the same card issue. I have the SP mastercard and would now like to get the visa.
Title: Re: Credit Card For Beginners
Post by: jj1000 on June 11, 2013, 01:59:01 PM
They told me they don't let you open more then 2 in 30 days but that's obviously not true. I was wondering how to get around the same card issue. I have the SP mastercard and would now like to get the visa.
SP are near impossible to have one opened with one existing. Your best chance is closing your current one, but you will lose having a MC, and you may not even be approved for the new one. So you have to decide for yourself if it is worth it for you.

I happen to be making the same decisions right now with many of my cards.
Title: Re: Credit Card For Beginners
Post by: avadah on June 11, 2013, 02:06:09 PM
Is there a list anywhere in the forums of how long you have to wait after closing each card to get the sign up bonus again? If not maybe we can put one together.
Title: Re: Credit Card For Beginners
Post by: jj1000 on June 11, 2013, 02:18:54 PM
Is there a list anywhere in the forums of how long you have to wait after closing each card to get the sign up bonus again? If not maybe we can put one together.
There is not because the banks don't have a list themselves it is all YMMV for the most part.
Title: Re: Credit Card For Beginners
Post by: avadah on June 11, 2013, 02:48:35 PM
What's the general time frame for the chase united and the citi aa cards?
Title: Re: Credit Card For Beginners
Post by: Shmulyg on June 11, 2013, 02:51:38 PM
What's the general time frame for the chase united and the citi aa cards?
UA- best to wait 30 days from closing until you reapply (though, you don't have to).
Citi AA - 12-18 months.
Title: Re: Credit Card For Beginners
Post by: avadah on June 11, 2013, 05:13:57 PM
UA- best to wait 30 days from closing until you reapply (though, you don't have to).
Citi AA - 12-18 months.
Just 30 days for United? I'm assuming with a different FFN each time. How many  times can I do that till they catch on?
Title: Re: Credit Card For Beginners
Post by: EMES on June 11, 2013, 08:36:19 PM
Just 30 days for United? I'm assuming with a different FFN each time. How many  times can I do that till they catch on?
till they Catch on  ;D
Title: Re: Credit Card For Beginners
Post by: avadah on June 14, 2013, 08:05:16 AM
When do the 3 months for the sign up bonus start? From when the card is activated or from approval?
Title: Re: Credit Card For Beginners
Post by: Zevwolf on June 14, 2013, 09:24:25 AM
From approval.
Title: Re: Credit Card For Beginners
Post by: DovtheBear on June 16, 2013, 10:20:55 AM
Is it harder to get a business card (as opposed to a regular card)?
Title: Re: Credit Card For Beginners
Post by: EMES on June 16, 2013, 06:44:03 PM
Is it harder to get a business card (as opposed to a regular card)?
they defiantly ask more questions
Title: Re: Credit Card For Beginners
Post by: money spender #4 on June 16, 2013, 07:21:22 PM
Quick question.. if i use GC or AP to meet a spending threshold do i need to wait till the bill comes or can i put that $1000 or whatever and pay the bill before it even comes. or will this not give me the signup miles??
Title: Re: Credit Card For Beginners
Post by: sky121 on June 16, 2013, 07:22:16 PM
Quick question.. if i use GC or AP to meet a spending threshold do i need to wait till the bill comes or can i put that $1000 or whatever and pay the bill before it even comes. or will this not give me the signup miles??

You don't have to wait until the bill comes but I would wait until the charge actually posts before paying it.
Title: Re: Credit Card For Beginners
Post by: money spender #4 on June 16, 2013, 07:34:04 PM
You don't have to wait until the bill comes but I would wait until the charge actually posts before paying it.

thank you very much for your prompt reply!!

another questions if i may...

if i sign an AU on a card is that double the points? meaning if i get an ink bold and get the 50k or 60 bonus can i get it again if i sign an AU in the first 90 days and spend another 5k?? i figure im probably dreaming since it woulndt make much sense but figured i would ask.
Title: Re: Credit Card For Beginners
Post by: Shmulyg on June 16, 2013, 07:41:31 PM
thank you very much for your prompt reply!!

another questions if i may...

if i sign an AU on a card is that double the points? meaning if i get an ink bold and get the 50k or 60 bonus can i get it again if i sign an AU in the first 90 days and spend another 5k?? i figure im probably dreaming since it woulndt make much sense but figured i would ask.
Indeed you are.
Title: Re: Credit Card For Beginners
Post by: YT on June 18, 2013, 07:48:50 AM
So I finally got my first cards and I want to pay off the bill but it wont let me because it says the minimum payment due is $0. How do I pay off the balance if the whole charge is pending? Also the payment due date is the 24th so what if it is still pending by the 24th?

TIA
Title: Re: Credit Card For Beginners
Post by: Saver2000 on June 18, 2013, 08:19:11 AM
So I finally got my first cards and I want to pay off the bill but it wont let me because it says the minimum payment due is $0. How do I pay off the balance if the whole charge is pending? Also the payment due date is the 24th so what if it is still pending by the 24th?

TIA
Which bank?
Title: Re: Credit Card For Beginners
Post by: sky121 on June 18, 2013, 09:13:33 AM
So I finally got my first cards and I want to pay off the bill but it wont let me because it says the minimum payment due is $0. How do I pay off the balance if the whole charge is pending? Also the payment due date is the 24th so what if it is still pending by the 24th?

TIA

The charge is still pending ? Wait until it posts. If it's Chase or some others you can pay it in the bank.
Title: Re: Credit Card For Beginners
Post by: YT on June 18, 2013, 09:50:38 AM
Which bank?

Chase.

Is there a way to pay it online tho?
Title: Re: Credit Card For Beginners
Post by: sky121 on June 18, 2013, 09:54:58 AM
Chase.

Is there a way to pay it online tho?

Wait until it posts.
Or maybe try to send payment to a credit card in the pay bills section and add the card as a separate account.
Title: Re: Credit Card For Beginners
Post by: YT on June 18, 2013, 10:18:33 AM
K thanks.

Also I'm  just kinda scared because I want to start buying GCs with my two cards but I'm afraid if I buy tons of GCs they're going to question me on it.  I bought a couple things here and there on each of the cards but if I start exclusively buying GCs from now on are they going to shut me down?
Title: Re: Credit Card For Beginners
Post by: sky121 on June 18, 2013, 10:20:18 AM
K thanks.

Also I'm  just kinda scared because I want to start buying GCs with my two cards but I'm afraid if I buy tons of GCs they're going to question me on it.  I bought a couple things here and there on each of the cards but if I start exclusively buying GCs from now on are they going to shut me down?

Keep using your cards for everyday purchases and don't go crazy with the gift cards and you should be ok.
Chase is more lenient with these things than other banks IMO.
Title: Re: Credit Card For Beginners
Post by: YT on June 18, 2013, 10:24:14 AM
Keep using your cards for everyday purchases and don't go crazy with the gift cards and you should be ok.
Chase is more lenient with these things than other banks IMO.

So each of your cards you do actual spending on?
Do you have any cards that you only use with AP/GC/Vanillas?
Title: Re: Credit Card For Beginners
Post by: DovtheBear on June 20, 2013, 12:44:37 AM
Is there a suggested percentage (of CL) to let the statement close with?
Title: Re: Credit Card For Beginners
Post by: MEIR613 on June 20, 2013, 12:47:09 AM
Is there a suggested percentage (of CL) to let the statement close with?
More than 90% of the CL should be open.
Title: Re: Credit Card For Beginners
Post by: jj1000 on June 20, 2013, 12:48:16 AM
Is there a suggested percentage (of CL) to let the statement close with?
Sure $1 to what ever your CL is.

Mainly try to keep it below 10% and you should be great. But why not $1...
Title: Re: Credit Card For Beginners
Post by: DovtheBear on June 20, 2013, 12:52:46 AM
More than 90% of the CL should be open.
Meaning only 10% used?
Sure $1 to what ever your CL is.

Mainly try to keep it below 10% and you should be great. But why not $1...
I thought they report a Utilization Score (something like that) and if its too low its not good?
Title: Re: Credit Card For Beginners
Post by: MEIR613 on June 20, 2013, 12:54:08 AM
Meaning only 10% used?I thought they report a Utilization Score (something like that) and if its too low its not good?
Yes, you should close your statement with less than 10% credit utilization and at least one dollar spent.
Title: Re: Credit Card For Beginners
Post by: jj1000 on June 20, 2013, 12:55:34 AM
I thought they report a Utilization Score (something like that) and if its too low its not good?
They do report your utilization score. I've never heard that before, but I'm no expert.
Title: Re: Credit Card For Beginners
Post by: DovtheBear on June 20, 2013, 01:42:59 AM
Yes, you should close your statement with less than 10% credit utilization and at least one dollar spent.
Okay, great to know.
Thanks.
They do report your utilization score. I've never heard that before, but I'm no expert.
Your type of non-expert I trust. ;)
Title: Re: Credit Card For Beginners
Post by: mnscout on June 22, 2013, 12:10:00 AM
Meaning only 10% used?I thought they report a Utilization Score (something like that) and if its too low its not good?

In all honesty, I usually have tremendously low UR and I'm too lazy to remember to make small charges on all my credit cards (all 2 dozen of them at any given moment), and I haven't noticed that they would penalize me for it in any way, shape and form. So while UR that's too low might not be good--theoretically--it's not nearly as bad as high UR; now that will really screw up your AOR game. And btw, 10% is not low anyway. 
Title: Re: Credit Card For Beginners
Post by: A European on June 22, 2013, 11:02:44 PM

Is it a problem if i pay my business credit card with a personal checking account ?

Also could I link my wife's personal checking account to my business credit card (Or My personal )?

All chase CC and checking accounts .
Title: Re: Credit Card For Beginners
Post by: sillypainter on June 22, 2013, 11:04:09 PM
Is it a problem if i pay my business credit card with a personal checking account ?

Also could I link my wife's personal checking account to my business credit card (Or My personal )?

With The bank this is no problem at all.
Title: Re: Credit Card For Beginners
Post by: DovtheBear on June 25, 2013, 12:30:07 AM
Yes, you should close your statement with less than 10% credit utilization and at least one dollar spent.
I screwed up.
I let the statement close with most of the CL used.
1.How bad is the damage? (it was my first ever statement)
2.What can I do to fix it?
Title: Re: Credit Card For Beginners
Post by: Barryg on June 25, 2013, 12:39:18 AM
I screwed up.
I let the statement close with most of the CL used.
1.How bad is the damage? (it was my first ever statement)
2.What can I do to fix it?
1. Damage for this month - maybe (so you prob shouldn't applly for anything new this month)
2. Pay off before next statement. At that point your credit score is a whole new calculation AFAIK and if anything it will work in your favor as building credit is as simple (and apparently hard for most ppl) as borrowing money and paying back.
Title: Re: Credit Card For Beginners
Post by: Shmulyg on June 25, 2013, 04:25:55 AM
I screwed up.
I let the statement close with most of the CL used.
1.How bad is the damage? (it was my first ever statement)
2.What can I do to fix it?
1. Over-utilization doesn't do any long-term damage.
2. Don't do it again :)
Title: Re: Credit Card For Beginners
Post by: avadah on June 25, 2013, 01:33:40 PM
If I use up most of my CL but pay it back right away (before the statement closes) is it a problem?
Title: Re: Credit Card For Beginners
Post by: jj1000 on June 25, 2013, 01:41:09 PM
If I use up most of my CL but pay it back right away (before the statement closes) is it a problem?
Not really, some credit bureaus may check in middle of the month, but almost always it is the end that matters. But try and leave a few dollars when the statement closes.

$0 out of $10,000 = 0% utilization. $1 out of $10,000 = 10,000% utilization. Or something like that.

Anyone feel free to correct me.
Title: Re: Credit Card For Beginners
Post by: AJK on June 25, 2013, 02:00:55 PM
Not really, some credit bureaus may check in middle of the month, but almost always it is the end that matters. But try and leave a few dollars when the statement closes.

$0 out of $10,000 = 0% utilization. $1 out of $10,000 = 10,000% utilization. Or something like that.

Anyone feel free to correct me.

Say wha?
Title: Re: Credit Card For Beginners
Post by: jj1000 on June 25, 2013, 02:02:44 PM
Say wha?
Anyone feel free to correct me.
This is how I explain it dumbed down.
Title: Re: Credit Card For Beginners
Post by: AJK on June 25, 2013, 02:05:39 PM
  This is how I explain it dumbed down.

I'm not even sure what you're trying to say.

How is $1 used out of a $10,000 CL = 10,000% usage? What is 10,000% usage anyway?
Title: Re: Credit Card For Beginners
Post by: jj1000 on June 25, 2013, 02:11:43 PM
I'm not even sure what you're trying to say.

How is $1 used out of a $10,000 CL = 10,000% usage? What is 10,000% usage anyway?
They want to see how much free credit you have at the end of the month. So if you spend $5,000 you utilized 50% of your credit. That is not good. You only want to utilize 10% or less. So what I meant is if you spend a dollar you utilize .00001% Which is really good in their eyes. Much better than 0% which is just nothing.

Make any sense at all?
Title: Re: Credit Card For Beginners
Post by: DovtheBear on June 25, 2013, 02:42:59 PM
1. Over-utilization doesn't do any long-term damage.
2. Don't do it again :)
Ok, I'll try. :)
Title: Re: Credit Card For Beginners
Post by: AJK on June 25, 2013, 02:54:50 PM
They want to see how much free credit you have at the end of the month. So if you spend $5,000 you utilized 50% of your credit. That is not good. You only want to utilize 10% or less. So what I meant is if you spend a dollar you utilize .00001% Which is really good in their eyes. Much better than 0% which is just nothing.

Make any sense at all?

Absolutely, but 10,000% ≠ 10,000/1%
Title: Re: Credit Card For Beginners
Post by: avadah on June 25, 2013, 06:41:13 PM
$0 out of $10,000 = 0% utilization. $1 out of $10,000 = 10,000% utilization. Or something like that.

Anyone feel free to correct me.
I think there's a lot of artistic license in that "something like that".
Title: Re: Credit Card For Beginners
Post by: DovtheBear on July 03, 2013, 09:39:21 AM
Credit Karma says my score is in the 700s (about 725).
Does that make sense for someone who has a 2 month history?
Are they reliable?
Title: Re: Credit Card For Beginners
Post by: mmermss on July 03, 2013, 09:41:22 AM
Credit Karma says my score is in the 700s (about 725).
Does that make sense for someone who has a 2 month history?
Are they reliable?
Its FAKO.  I dont think any FAKO is that reliable.

Try getting another FAKO score...see if and how different the scores are.
Title: Re: Credit Card For Beginners
Post by: DovtheBear on July 03, 2013, 09:47:12 AM
Its FAKO.  I dont think any FAKO is that reliable.

Try getting another FAKO score...see if and how different the scores are.
Credit sesame says about 645.  :-\
Title: Re: Credit Card For Beginners
Post by: CountValentine on July 03, 2013, 09:48:19 AM
They want to see how much free credit you have at the end of the month. So if you spend $5,000 you utilized 50% of your credit. That is not good. You only want to utilize 10% or less. So what I meant is if you spend a dollar you utilize .00001% Which is really good in their eyes. Much better than 0% which is just nothing.

Make any sense at all?
Not at all. I don't buy these utilization figures everyone likes to throw out.
Title: Re: Credit Card For Beginners
Post by: CountValentine on July 03, 2013, 09:48:55 AM
Credit sesame says about 645.  :-\
Keep checking to you find one you like.  :)
Title: Re: Credit Card For Beginners
Post by: mmermss on July 03, 2013, 09:51:43 AM
Keep checking to you find one you like.  :)
+1

Like I said...
I dont think any FAKO is that reliable.

Title: Re: Credit Card For Beginners
Post by: DovtheBear on July 03, 2013, 10:03:09 AM
Keep checking to you find one you like.  :)
;D
I liked the first one better.
Are they reliable at all, just to have an estimate at where I'm holding?
Title: Re: Credit Card For Beginners
Post by: CountValentine on July 03, 2013, 10:06:48 AM
Are they reliable at all, just to have an estimate at where I'm holding?
No.
Title: Re: Credit Card For Beginners
Post by: smaxber on July 03, 2013, 11:03:56 AM
Looking to open a few cards (amex and Barclay) was wondering if there is anything I should watch out for regarding them. For example to reavh spend thresholds, how is using them with AP (I know amex could be a problem idk about Barclay) what about VR?
Title: Re: Credit Card For Beginners
Post by: avadah on July 06, 2013, 04:11:40 PM
Are you able to transfer credit from a Chase biz card to a personal card? What about personal to biz?
Title: Re: Credit Card For Beginners
Post by: MEIR613 on July 07, 2013, 12:31:29 PM
Are you able to transfer credit from a Chase biz card to a personal card? What about personal to biz?
Personal to business, yes.
Business to personal, no, but YMMV. 

Title: Re: Credit Card For Beginners
Post by: avadah on July 07, 2013, 01:10:01 PM
Personal to business, yes.
Business to personal, no, but YMMV. 


So if I move some credit from personal to biz I can never move it back or after I close the biz card I can request they raise my CL?
Title: Re: Credit Card For Beginners
Post by: htg123 on July 07, 2013, 11:10:22 PM
I'm using credit inform by capital one... I've just started building credit. I've been an AU for 6 months on amex and primary holder for a month cap1 secured. Does a score 702 make sense...or is it FAKO
Title: Re: Credit Card For Beginners
Post by: yitzf on July 07, 2013, 11:34:19 PM
So if I move some credit from personal to biz I can never move it back or after I close the biz card I can request they raise my CL?

You can never move it back.

Regarding a credit increase, you can always request one, but if they don't want to give it to you, it won't help to tell them that you originally had more credit on this account but transferred it to another account and subsequently closed that account so you want it back.
Title: Re: Credit Card For Beginners
Post by: Barryg on July 07, 2013, 11:54:30 PM
I'm using credit inform by capital one... I've just started building credit. I've been an AU for 6 months on amex and primary holder for a month cap1 secured. Does a score 702 make sense...or is it FAKO
It's FAKO, but may still make sense. Sometimes the AU will backdate, and if so you may have more than six months of credit.
Title: Re: Credit Card For Beginners
Post by: Cbs on July 08, 2013, 05:41:42 AM
Looking to open a few cards (amex and Barclay) was wondering if there is anything I should watch out for regarding them. For example to reavh spend thresholds, how is using them with AP (I know amex could be a problem idk about Barclay) what about VR?
shouldnt be a problem if you dont abuse it and if u have other spending on ur cc besides VR or AP
Title: Re: Credit Card For Beginners
Post by: avadah on July 10, 2013, 02:07:42 AM
Does asking Chase to raise a CL require a hard pull?
Title: Re: Credit Card For Beginners
Post by: CountValentine on July 10, 2013, 02:10:21 AM
Does asking Chase to raise a CL require a hard pull?
Sometimes.
Title: Re: Credit Card For Beginners
Post by: YT on July 10, 2013, 05:05:28 AM
Does asking Chase to raise a CL require a hard pull?

Sometimes.

I got a Chase United about a month ago. If I apply for a biz card and dont get approved is it possible to ask to transfer the United CL onto the biz card as leverage thereby closing the United?
Title: Re: Credit Card For Beginners
Post by: mmermss on July 10, 2013, 05:42:01 AM
I got a Chase United about a month ago. If I apply for a biz card and dont get approved is it possible to ask to transfer the United CL onto the biz card as leverage thereby closing the United?
Yes. May be hard but possible.
Title: Re: Credit Card For Beginners
Post by: chucksterace on July 10, 2013, 05:09:47 PM
Can someone please advice me on how to see my EX credit report? Never done it before and very clueless on how to see the EX and the others.

I did the myfico trial and saw thay score but was wondering how I can get the EX score.

I also just signed up for the SPG so how can I get my free credit report from that? TIA
Title: Re: Credit Card For Beginners
Post by: jaywhy on July 10, 2013, 05:29:37 PM
Can someone please advice me on how to see my EX credit report? Never done it before and very clueless on how to see the EX and the others.

I did the myfico trial and saw thay score but was wondering how I can get the EX score.

I also just signed up for the SPG so how can I get my free credit report from that? TIA
You can use $1 Citi ID Monitor trial to get the full 3 bureau report. The scores are FAKO though.
The approval letter for the SPG card should have your FICO score on it.
Title: Re: Credit Card For Beginners
Post by: mnscout on July 11, 2013, 02:33:42 AM
Personal to business, yes.
Business to personal, no, but YMMV.

Was not my experience. Iv'e tried to move personal to business twice before and got denied. Was told only between personal accounts. Have you personally been able to do that?
Title: Re: Credit Card For Beginners
Post by: mnscout on July 11, 2013, 02:38:41 AM
I got a Chase United about a month ago. If I apply for a biz card and dont get approved is it possible to ask to transfer the United CL onto the biz card as leverage thereby closing the United?

Only if you want to risk losing the bonus. Even if you've met the spend already they can still claw it back within 6 months after the account opening. If they allow you to transfer some credit onto the business, there is no incentive for you to close the card. Keep it.
Title: Re: Credit Card For Beginners
Post by: YT on July 11, 2013, 10:52:01 PM
Only if you want to risk losing the bonus. Even if you've met the spend already they can still claw it back within 6 months after the account opening. If they allow you to transfer some credit onto the business, there is no incentive for you to close the card. Keep it.

Isn't there a way to transfer those points into UR points tho? I have  a Freedom and United how would I combine them? and If you cant combine them then whats the point of churning United if your just going to have 50,000 points in 5 different FFN's?
Title: Re: Credit Card For Beginners
Post by: bubbles on July 11, 2013, 11:15:13 PM
Do you really not see an advantage if having 5 X 50k UA accounts over 1 X 50k ???
Title: Re: Credit Card For Beginners
Post by: Shreknit on July 12, 2013, 12:25:51 AM

I also just signed up for the SPG so how can I get my free credit report from that? TIA

They will send you a letter in the mail with score and how to get the report
Title: Re: Credit Card For Beginners
Post by: mmermss on July 14, 2013, 03:56:13 AM
1)Isn't there a way to transfer those points into UR points tho?

2)I have  a Freedom and United how would I combine them?

3)and If you cant combine them then whats the point of churning United if your just going to have 50,000 points in 5 different FFN's?
1) No.  United points can not be transferred into UR.  Nothing can.  UR can only be transferred out.

2)You cant.  You need the UR points to be in a SP or ink card for it to be transferable to airlines and hotels.

3)
Do you really not see an advantage if having 5 X 50k UA accounts over 1 X 50k ???
+1
And.....You can merge several FF accounts together creating one large UA account.
Title: Re: Credit Card For Beginners
Post by: dginz on July 14, 2013, 11:00:44 AM
What is better for someone starting out in the credit world? To be added as an Authorized user or secondary user?
Thanks.
Title: Re: Credit Card For Beginners
Post by: Moishebatchy on July 14, 2013, 11:04:44 AM
+1
And.....You can merge several FF accounts together creating one large UA account.

Provided that the names match exactly.
Title: Re: Credit Card For Beginners
Post by: mmermss on July 14, 2013, 11:05:59 AM
Provided that the names match exactly.
Correct.  Thanks for adding that.
Title: Re: Credit Card For Beginners
Post by: avadah on July 15, 2013, 01:07:24 AM
Does adding an AU to a CC come up on my Credit Sesame monitoring as a new acct opened?
Title: Re: Credit Card For Beginners
Post by: smaxber on August 08, 2013, 10:48:17 PM
I've been in this scene for few months. I currently have citi dividends, freedom, and arrival
I'm thinking of doing a 2/3BM with amex.

I'm for sure considering Spg (consumer and biz) question is should the 3rd be a personal or biz and which one?

I tried for a biz with chase few months ago and was denied so bad luck so far. Not sure if 2 biz would be smart

Should I just do 2BM  or do 3 (even tho I hear some ppl get apps canceled cu of duplicates)
Title: Re: Credit Card For Beginners
Post by: avadah on August 11, 2013, 04:54:02 PM
Can I ask Chase to switch my IB to an IP and get the sign up bonus for it?
Title: Re: Credit Card For Beginners
Post by: sky121 on August 11, 2013, 04:55:42 PM
Can I ask Chase to switch my IB to an IP and get the sign up bonus for it?

You mean like how you can "upgrade" from a Gold to a Platinum card with Amex? No.
Title: Re: Credit Card For Beginners
Post by: AJK on August 11, 2013, 04:56:15 PM
Can I ask Chase to switch my IB to an IP and get the sign up bonus for it?

Generally no bonuses for converting.
Title: Re: Credit Card For Beginners
Post by: MEIR613 on August 11, 2013, 05:08:49 PM
Generally no bonuses for converting.
With Chase...
Title: Re: Credit Card For Beginners
Post by: AJK on August 11, 2013, 05:17:58 PM
With Chase...

Even with AmEx. There are just a small number exceptions.
Title: Re: Credit Card For Beginners
Post by: ayman on August 12, 2013, 01:58:18 PM
What is more important on CR? Long credit history (as an AU, I have an acct open 2 yrs before I was born) or low credit utilization (same card is at 70% utilization), better to keep myself as an AU or get off the card?
Title: Re: Credit Card For Beginners
Post by: Shmulyg on August 13, 2013, 12:28:40 AM
Even with AmEx. There are just a small number exceptions.
Anything besides the Green?
Title: Re: Credit Card For Beginners
Post by: AJK on August 19, 2013, 12:04:39 AM
Gold ---> Plat?
Title: Re: Credit Card For Beginners
Post by: shpitz on August 19, 2013, 12:43:11 AM
I just did the 2bm for the United Personal & Business. After I got myself approved by calling reconsideration I sm to them to up the miles from 30k to 55k.

Here is the sm I just got! What can I do? What did I do wrong?

Date:   08-17-2013 15:14:39
From:   Chase Card Services
Subject:   Re: Rewards Inquiry
Message:

 
Dear Shpitz,

Thank you for contacting Chase regarding your United
MileagePlus® credit card account.

We reviewed your account and see you recently opened a new
United MileagePlus credit card account, which offers bonus
miles after you spend $1,000 in the first 3 months your
account is open. Unfortunately, you will not be able to
receive the bonus miles since you received a similar offer
in the past. Here is additional information to help
explain the enrollment bonus:

?The terms and conditions associated with the credit card
indicate that the one-time offer is only for first-time
United MileagePlus cardmembers with a new account.
?Since you received 30,000 bonus miles in February 2012 on
your previous account ending in ----, you are not
considered a first time cardmember.
?Based on this information, this new account is not able
to receive the enrollment bonus miles.

Furthermore, we show that you have four frequent flyer
accounts in your name. Please be advised that you can
only have one frequent flyer account in your name.
Therefore, we contacted United and had your accounts
merged. They have merged your frequent flyer numbers
GS------, TH------, and TH------ into the active number
RP------. We have updated the credit card account to
reflect this number. Going forward all miles will be sent
to this number. Please allow 24-48 hours for all of your
miles to be in the active account. Please contact
MileagePlus directly at 1-800-421-4655 with any additional
concerns or your mileage balance.

If you have any further questions, please reply using the
Secure Message Center.

Thank you,

Marie Jacobsen
Customer Support Specialist

1-800-436-7927

Account is owned by Chase Bank USA, N.A. and may be
serviced by its affiliates.


**********************************************************
**********
DO YOU KNOW AT CHASE ONLINE YOU CAN ....
- Gain instant access to view and download your credit
card information.
- See and pay your bill online
- Transfer balances
- Change your address and much more....

**********************************************************
**********

Original Message Follows:
------------------------

I just opened up this Chase card and now I see it being
offered at the bank for 50k points plus 5k for authorized
user. I would greatly appreciate if you can please match
it.
Thank You
Shpitz
Title: Re: Credit Card For Beginners
Post by: Saver2000 on August 19, 2013, 12:46:04 AM
You were supposed to sm only after the 30k posted. 
Title: Re: Credit Card For Beginners
Post by: Shmulyg on August 19, 2013, 01:01:56 AM
Gold ---> Plat?
Yup... A prime example of missing the obvious.
Title: Re: Credit Card For Beginners
Post by: shpitz on August 19, 2013, 01:05:51 AM
so for this time its lost? or can anything be done besides learning the lesson? Thanks.
Title: Re: Credit Card For Beginners
Post by: Shmulyg on August 19, 2013, 01:17:07 AM
so for this time its lost? or can anything be done besides learning the lesson? Thanks.
There were reports of some receiving the bonus even after getting such an SM.
Title: Re: Credit Card For Beginners
Post by: shpitz on August 19, 2013, 01:26:37 AM
Would you know if they just let it go & got the points or took some action like communicating a lot with Customer service so they have lots of notes and ultimately will not skim through all of it by the time I''ll be requesting the miles down the road?

I'll greatly appreciate if a pro can guide with this
#1 should I bother spending the 1k on these 2 cards?
#2 should I keep on communicating to fill their notes with other stuff?
#3 anything else?
Title: Re: Credit Card For Beginners
Post by: Shmulyg on August 19, 2013, 01:29:27 AM
Would you know if they just let it go & got the points or took some action like communicating a lot with Customer service so they have lots of notes and ultimately will not skim through all of it by the time I''ll be requesting the miles down the road?
Just posted automatically. Though, in their case, i'm not sure they had the whole FF# merging thing.
Title: Re: Credit Card For Beginners
Post by: DovtheBear on August 20, 2013, 08:07:31 PM
Is there a chance that a 4bm (3 biz, 1 personal) would work?
Title: Re: Credit Card For Beginners
Post by: AJK on August 20, 2013, 08:14:18 PM
Is there a chance that a 4bm (3 biz, 1 personal) would work?

Yes.
Title: Re: Credit Card For Beginners
Post by: DovtheBear on August 20, 2013, 08:15:54 PM
Yes.
Thanks
Title: Re: Credit Card For Beginners
Post by: Yellow on August 20, 2013, 08:19:23 PM
Yes.
+1 you may have to make a few calls to recon though (and be able to answer some questions about your business)
Title: Re: Credit Card For Beginners
Post by: DovtheBear on August 20, 2013, 08:38:22 PM
+1 you may have to make a few calls to recon though (and be able to answer some questions about your business)
What business?  ;)
Seriously: What could they ask?
Does it have to be the cardholder, or can I speak for my father?
Also, How long is typical wait time for a SM reply?
Title: Re: Credit Card For Beginners
Post by: Super Speed on August 20, 2013, 08:54:21 PM

What business?  ;)
Seriously: What could they ask?
Does it have to be the cardholder, or can I speak for my father?
Also, How long is typical wait time for a SM reply?
I got interrogated about my "business" today. If you say you're your father then you can ;) . Chase SM is 4 Hours Amex I believe switched over to Live Chat.
Title: Re: Credit Card For Beginners
Post by: ayman on August 20, 2013, 08:57:55 PM
Amex I believe switched over to Live Chat.
+1 although you may get sm till 8/30 (31?) they say it will take up to 72 hrs to answer.
Title: Re: Credit Card For Beginners
Post by: DovtheBear on August 20, 2013, 08:59:07 PM
I got interrogated about my "business" today. If you say you're your father then you can ;) . Chase SM is 4 Hours Amex I believe switched over to Live Chat.
What did they ask?
(They all think I'm a ma'am  :-\)
Title: Re: Credit Card For Beginners
Post by: Super Speed on August 20, 2013, 09:04:06 PM

What did they ask?
(They all think I'm a ma'am  :-\)
What do you do how much money you make etc.
Title: Re: Credit Card For Beginners
Post by: DovtheBear on August 20, 2013, 09:05:32 PM
What do you do how much money you make etc.
Aaand, What did you say?
Title: Re: Credit Card For Beginners
Post by: ayman on August 20, 2013, 09:06:09 PM
what if you write on the app that the business is 0 yrs old w 0 revenue, ie just starting?
Title: Re: Credit Card For Beginners
Post by: Super Speed on August 20, 2013, 09:28:56 PM

Aaand, What did you say?
Buying and selling electronics for 2 years. I have bought phones and sold a phone so... My annual income as is (though is not from the business).
Title: Re: Credit Card For Beginners
Post by: DovtheBear on August 20, 2013, 09:30:17 PM
Buying and selling electronics for 2 years. I have bought phones and sold a phone so... My annual income as is (though is not from the business).
Simple enough.
Title: Re: Credit Card For Beginners
Post by: Super Speed on August 20, 2013, 10:31:38 PM

Simple enough.
yup!
Title: Re: Credit Card For Beginners
Post by: avadah on August 21, 2013, 02:17:42 PM
I see my credit score on Credit Sesame just dropped over 40 points bec  my CL dropped from 5k to 2k. It dropped bec I shifted it over to another card so why did the score go down? Also I know this is FAKO but does this mean my FICO took a hit too? Anything to do about it?
Title: Re: Credit Card For Beginners
Post by: Dan on August 21, 2013, 02:19:11 PM
I see my credit score on Credit Sesame just dropped over 40 points bec  my CL dropped from 5k to 2k. It dropped bec I shifted it over to another card so why did the score go down? Also I know this is FAKO but does this mean my FICO took a hit too? Anything to do about it?
Your DD FAKO just dropped 400 points.
Title: Re: Credit Card For Beginners
Post by: avadah on August 21, 2013, 02:21:57 PM
What about my DD FICO?
Title: Re: Credit Card For Beginners
Post by: Achas Veachas on August 21, 2013, 02:22:06 PM
Your DD FAKO just dropped 400 points.
lol
Title: Re: Credit Card For Beginners
Post by: A European on August 21, 2013, 02:28:31 PM
what if you write on the app that the business is 0 yrs old w 0 revenue, ie just starting?
Not such a option on chase business app, just write 1 year old, and How much you expect on making this year.
Title: Re: Credit Card For Beginners
Post by: ayman on August 21, 2013, 04:11:24 PM
ok haven't tried yet, but saw on FT absolutely don't make up yrs and revenue for a citi business card. Write 0 yrs and 0 revenue, still gets approved.
Title: Re: Credit Card For Beginners
Post by: avadah on August 23, 2013, 02:35:18 AM
Do CC companies only report to the bureau they pull from?
Title: Re: Credit Card For Beginners
Post by: ayman on August 23, 2013, 02:39:51 AM
No
Title: Re: Credit Card For Beginners
Post by: joey123 on August 25, 2013, 01:49:22 AM
Does becoming an AU on an Amex Business card help backdate your history or only Amex personal?
Title: Re: Credit Card For Beginners
Post by: Shmulyg on August 25, 2013, 06:51:41 AM
Does becoming an AU on an Amex Business card help backdate your history or only Amex personal?
Amex biz cards are not reported to the credit bureaus.
Title: Re: Credit Card For Beginners
Post by: DovtheBear on August 25, 2013, 11:36:31 PM
Amex biz cards are not reported to the credit bureaus.
All biz or just AMEX?
Title: Re: Credit Card For Beginners
Post by: ayman on August 26, 2013, 12:00:05 AM
All biz
Title: Re: Credit Card For Beginners
Post by: Shmulyg on August 26, 2013, 04:54:39 AM
Almost all biz
FTFY.
Title: Re: Credit Card For Beginners
Post by: ayman on August 26, 2013, 09:35:43 AM
Which ones post?
Title: Re: Credit Card For Beginners
Post by: lfas25 on August 26, 2013, 10:41:32 AM
Which ones post?

I have a TD Business and they report everything in my reports.
Title: Re: Credit Card For Beginners
Post by: jbizz on August 26, 2013, 11:07:15 AM
As far as the FAKO/FICO thing goes does anyone have an opinion on http://www.scoresense.com/help/faq.aspx?
Title: Re: Credit Card For Beginners
Post by: Super Speed on August 26, 2013, 06:25:11 PM

I have a TD Business and they report everything in my reports.
Why do you have a TD business CC, any good bonuses?
Title: Re: Credit Card For Beginners
Post by: lfas25 on August 26, 2013, 09:47:32 PM
Why do you have a TD business CC, any good bonuses?

Nope. Pre-ddf
Title: Re: Credit Card For Beginners
Post by: Super Speed on August 26, 2013, 10:00:38 PM

Nope. Pre-ddf
Thought so! ;)
Title: Re: Credit Card For Beginners
Post by: Ddmiller999 on August 28, 2013, 04:22:52 PM
Just thought I'd share: I applied for many credit cards but was denied bec of lack of credit history. I was 20 yrs old and applied for the State Farm student card and was accepted. Great starter card but has no perks. No annual fee.
Title: Re: Credit Card For Beginners
Post by: lfas25 on August 28, 2013, 04:25:36 PM
Just thought I'd share: I applied for many credit cards but was denied bec of lack of credit history. I was 20 yrs old and applied for the State Farm student card and was accepted. Great starter card but has no perks. No annual fee.

When was this?
Title: Re: Credit Card For Beginners
Post by: Thingywingy on October 07, 2013, 02:41:48 PM
Im helping a family member build credit...I got them a Target card in their own name about 6 months ago...should I add them as a joint cardholder 1st...or go straight to applying for an easier card like Freedom?
Title: Re: Credit Card For Beginners
Post by: ayman on October 07, 2013, 03:17:40 PM
Got my bro a citi forward card as his first card, not store card or joint accts beforehand
Title: Re: Credit Card For Beginners
Post by: Barryg on October 07, 2013, 08:14:53 PM
Im helping a family member build credit...I got them a Target card in their own name about 6 months ago...should I add them as a joint cardholder 1st...or go straight to applying for an easier card like Freedom?
What would be the con of adding to a card with low utilization? (don't see the 2 tzedadim here) Remembering that it's a marathon not a short race...
Title: Re: Credit Card For Beginners
Post by: DovtheBear on October 08, 2013, 12:06:48 AM
How bad is a high utilization score (a couple of months in a row)?
Title: Re: Credit Card For Beginners
Post by: george on October 08, 2013, 12:16:27 AM
How bad is a high utilization score (a couple of months in a row)?
That's like asking, "how bad is dandruff?"
It is a (temporary) negative which will lower your score until you get rid of the high balances, after which your score will rise back up to previous levels.
Title: Re: Credit Card For Beginners
Post by: DovtheBear on October 08, 2013, 12:17:26 AM
That's like asking, "how bad is dandruff?"
It is a (temporary) negative which will lower your score until you get rid of the high balances, after which your score will rise back up to previous levels.
Huh?
Title: Re: Credit Card For Beginners
Post by: george on October 08, 2013, 12:19:41 AM
Huh?
Did I misunderstand you're question?
Are you asking how bad it is to have high utilization ratio for a couple of months?
Title: Re: Credit Card For Beginners
Post by: DovtheBear on October 08, 2013, 12:38:53 AM
Did I misunderstand you're question?
Are you asking how bad it is to have high utilization ratio for a couple of months?
I'm not sure myself. :)
If I let the statement close with a high balance, and then pay it in full without incurring interest: How much and how long of an affect does it have on my score?
Title: Re: Credit Card For Beginners
Post by: ayman on October 08, 2013, 01:15:58 AM
think that some1 mentioned 30% of your credit score is your credit utilization, so keep it low before the statement closes.
Title: Re: Credit Card For Beginners
Post by: george on October 08, 2013, 08:20:01 AM
I'm not sure myself. :)
If I let the statement close with a high balance, and then pay it in full without incurring interest: How much and how long of an affect does it have on my score?
How much and how long does dandruff affect you?
It depends how much dandruff and how long you wait until you start using head and shoulders!
IOW, the high balances will lower your score by a certain amount depending on what percent of your CL you are using, and your score will stay low for as long as you keep those high balances. As soon as you get your utilization back to a low ratio, your score will go back up.
Title: Re: Credit Card For Beginners
Post by: @Yehuda on October 08, 2013, 09:45:21 AM
From my research, yes it's 30% of the score, and it's best to pay it off before the statement closes (although Dan once made it seem that paying it off like right away is even better, I guess so there's no chance of it showing up in a report. Or perhaps he said that just so you don't forget to pay it off). You do want to keep a little bit still on the bill for the statement so it shows that you're using your card. I also picked up that once you pay it off, you're utilization goes back down - that it's a month to month assessment.
Title: Re: Credit Card For Beginners
Post by: Barryg on October 08, 2013, 10:18:06 AM
I'm not sure myself. :)
If I let the statement close with a high balance, and then pay it in full without incurring interest: How much and how long of an affect does it have on my score?
If you don't plan on applying for anything for a few months, it will not affect the future score in a negative way. Your utilization will be judged from % at the time you apply (which means the most recent time each of your accounts reported to credit bureaus). Now, each of the big 3 use different scoring models and it is somewhat of a secret exactly how they each calculate score. IMHO it would improve your score in the long run, since you showed ability to borrow $ and pay back.
If you want somewhat of a clue as to how much it affects your score, get a FAKO (credit karma, or Citi ID monitor) and check before and after.
To know how long it affects your score, see when your high balance isn't reported anymore on credit karma, citi, or free report on annualcreditreport.com... (usually day after cycle closes, or 3-4 days after payment is due)
Title: Re: Credit Card For Beginners
Post by: Dan on October 08, 2013, 01:35:15 PM
From my research, yes it's 30% of the score, and it's best to pay it off before the statement closes (although Dan once made it seem that paying it off like right away is even better, I guess so there's no chance of it showing up in a report. Or perhaps he said that just so you don't forget to pay it off). You do want to keep a little bit still on the bill for the statement so it shows that you're using your card. I also picked up that once you pay it off, you're utilization goes back down - that it's a month to month assessment.
Some banks report in middle of the statement.
Title: Re: Credit Card For Beginners
Post by: @Yehuda on October 08, 2013, 01:42:42 PM
Some banks report in middle of the statement.

Sheesh, do you search "Dan" to find when ppl mention your name in a comment? :-)
Title: Re: Credit Card For Beginners
Post by: jaywhy on October 08, 2013, 03:52:52 PM
Some banks report in middle of the statement.
Which ones?
Sheesh, do you search "Dan" to find when ppl mention your name in a comment? :-)
Just don't address a question to him ;)
Title: Re: Credit Card For Beginners
Post by: shimino1 on October 14, 2013, 05:40:49 AM
Just got a first credit card from wells fargo with 1000$ limit. Before that i was an Au on my dads cc for 8 months and when they pulld my expirien score it was 779. Im planing on using 10$ a month untill i build credit history and go for a major card.
How long do i have to wait for amax, chase?
I prefer a card with no forex fees for use in israel.
Tia
Title: Re: Credit Card For Beginners
Post by: Dave321 on October 14, 2013, 11:03:06 AM
I have a crapitol one, which was my first card that i got. I currently have $750 worth of credit on it. I also have amex starwood card with 4k credit.
Should I keep my capitol one card open bec it was my first card? Even if i only put 200 on the card a month, it is using up my credit , which prob lowers my score.

Any advice?

Thanks
Title: Re: Credit Card For Beginners
Post by: @Yehuda on October 14, 2013, 11:12:15 AM
I have a crapitol one, which was my first card that i got. I currently have $750 worth of credit on it. I also have amex starwood card with 4k credit.
Should I keep my capitol one card open bec it was my first card? Even if i only put 200 on the card a month, it is using up my credit , which prob lowers my score.

Any advice?

Thanks

You always want to hold onto your first card, as that's part of the credit score calculation - 1) The lengths of your oldest card. 2) The average age of all your cards (so your first card helps lower that average).

I believe your credit utilization ratio is based on all your combined credit, not each card specifically, CMIIW. So then spending $200/mo on it shouldn't affect you at all. But either way, why use it so much? Use it a few times a year (or even less probably) and they'll keep the card open.
Title: Re: Credit Card For Beginners
Post by: Dave321 on October 14, 2013, 11:13:58 AM
You always want to hold onto your first card, as that's part of the credit score calculation - 1) The lengths of your oldest card. 2) The average age of all your cards (so your first card helps lower that average).

I believe your credit utilization ratio is based on all your combined credit, not each card specifically, CMIIW. So then spending $200/mo on it shouldn't affect you at all. But either way, why use it so much? Use it a few times a year (or even less probably) and they'll keep the card open.

Got it. Thanks

I was under the impression that you need to spend on a card every month for credit building.
CMIIW Please!
Title: Re: Credit Card For Beginners
Post by: @Yehuda on October 14, 2013, 11:35:53 AM
Got it. Thanks

I was under the impression that you need to spend on a card every month for credit building.
CMIIW Please!

Oh, I thought you meant to be able to keep the card open. For credit building, I don't have much experience. (not sure how I built mine. I got a co-signed CC at 18 (used it occasionally, definitely not every month) and then didn't apply for another till I was like 20-21 and got approved.) It makes sense, I guess, if you want to build credit quickly that using it every month would be beneficial. But from what I've learned on the forum, even having just a few dollars on your monthly statement and paying it on time builds credit - no need for $200/mo.
Title: Re: Credit Card For Beginners
Post by: Dave321 on October 14, 2013, 11:38:25 AM
Oh, I thought you meant to be able to keep the card open. For credit building, I don't have much experience. (not sure how I built mine. I got a co-signed CC at 18 (used it occasionally, definitely not every month) and then didn't apply for another till I was like 20-21 and got approved.) It makes sense, I guess, if you want to build credit quickly that using it every month would be beneficial. But from what I've learned on the forum, even having just a few dollars on your monthly statement and paying it on time builds credit - no need for $200/mo.

I thought so.... Ill keep it low.

just did a 3BM so hopefully ill be able to build more credit that way.

Thanks!
Title: Re: Credit Card For Beginners
Post by: Barryg on October 17, 2013, 01:30:15 PM
Got it. Thanks

I was under the impression that you need to spend on a card every month for credit building.
CMIIW Please!
Not sure that anyone knows the answer to this and it may be different in all three bureaus. I wouldn't go crazy just to make sure to spend on each card every month (maybe every six months), the main thing is that when you apply the utilization % reported needs to be low the most recent time the cc reported. I have also wrote in the past that my suspicion is that if you use your credit and then pay back (month not applying have high utilization, then pay back before next cycle closes) it for sure won't hurt score in long run, but will help as well.
Title: Re: Credit Card For Beginners
Post by: Dave321 on October 17, 2013, 05:02:51 PM
I guess here is what i am trying to figure out. After a 2bm that i did this week here are is my lineup of cards:

(in order of when i got them)
Capitol One - 750
Amex Starwood- 8000
Chase SP- 12000
BA- 4000

My question is, do i need to spend on each card every month for good credit? Or does it go by total credit (meaning all my cards added up). The only reason why I have my CO card open is bec it was my first. But in terms of perks and points, its worth nothing.
Do i need to spend on it each month?
Title: Re: Credit Card For Beginners
Post by: raphy781 on October 17, 2013, 05:09:15 PM
I guess here is what i am trying to figure out. After a 2bm that i did this week here are is my lineup of cards:

(in order of when i got them)
Capitol One - 750
Amex Starwood- 8000
Chase SP- 12000
BA- 4000

My question is, do i need to spend on each card every month for good credit? Or does it go by total credit (meaning all my cards added up). The only reason why I have my CO card open is bec it was my first. But in terms of perks and points, its worth nothing.
Do i need to spend on it each month?

No. Just name sure to use it once in a while so you don't get shut down for inactivity.
Title: Re: Credit Card For Beginners
Post by: Dave321 on October 17, 2013, 05:10:45 PM

No. Just name sure to use it once in a while so you don't get shut down for inactivity.

great thanks!!
Title: Re: Credit Card For Beginners
Post by: AharonInIsrael on October 18, 2013, 02:58:36 AM
I've been reading up on this and some other threads, and think I'm getting ready to "get in the game", but wanted to double check what other people thought. I have a high actual credit score, with good credit history. Also, I've had the Chase BA card for a bit over a year and a half, but since I didn't report much income back then my CL on that card is only 1500. Related to the low CL is that my UR is also higher than it should be. Does it make sense to try and get two more cards, or should I wait? It will be hard for me to lower my UR because I don't have another card (I do have a stinky BoA Visa, but it has forex fees and I'm mostly in Israel).
Thanks!
Title: Re: Credit Card For Beginners
Post by: notanonymous on October 18, 2013, 04:27:00 AM
I've been reading up on this and some other threads, and think I'm getting ready to "get in the game", but wanted to double check what other people thought. I have a high actual credit score, with good credit history. Also, I've had the Chase BA card for a bit over a year and a half, but since I didn't report much income back then my CL on that card is only 1500. Related to the low CL is that my UR is also higher than it should be. Does it make sense to try and get two more cards, or should I wait? It will be hard for me to lower my UR because I don't have another card (I do have a stinky BoA Visa, but it has forex fees and I'm mostly in Israel).
Thanks!
UR is Ultimate Rewards.  Do you mean you have a high usage of your revolving credit?  Pay it off before the statement closes, so it will not report to the bureau.  If you have a good score, there is no reason you couldn't do a 2bm/3bm, and/or AOR.
Title: Re: Credit Card For Beginners
Post by: AharonInIsrael on October 18, 2013, 04:46:17 AM
Haha, yeah I meant utilization rate (or ratio). Still getting used to the acronyms :)
I payed it off, but in general my utilization rate on that card is higher than it should be- I thought they look at the general for each card (not just the last statement) and the overall utilization for all cards, no?
Title: Re: Credit Card For Beginners
Post by: CountValentine on October 18, 2013, 07:35:10 AM
30% utilization is high. I would go no higher than 29.86532%.  ::) ::) ::)
Title: Re: Credit Card For Beginners
Post by: Achas Veachas on October 18, 2013, 07:46:26 AM
30% utilization is high. I would go no higher than 29.865319%.  ::) ::) ::)
FTFY Just to be on the safe side...
Title: Re: Credit Card For Beginners
Post by: Barryg on October 18, 2013, 09:48:20 AM
Haha, yeah I meant utilization rate (or ratio). Still getting used to the acronyms :)
I payed it off, but in general my utilization rate on that card is higher than it should be- I thought they look at the general for each card (not just the last statement) and the overall utilization for all cards, no?
It's the last time that the cc company reports to the credit unions that counts for utilization. Past history would count for other things like on time payments etc. CC company usually reports day after cycle closes (about 3 days after min payment is due). To confirm that your utilization was reported and that you're ready to apply, you can use one of the free/cheap ways to check your credit report (not real score). Try creditkarma, citi id monitor, or annualcreditreport.com.
In addition to having low utilization by paying off most (some say you can pay all, most say leave a few $'s) of your balance before statement closes, your stinky BofA Visa will help your %age. (So don't forget to use once a year or so, so they keep it open.)
Title: Re: Credit Card For Beginners
Post by: AvrumyW on October 18, 2013, 11:35:36 AM
WHATS THE BEST CARD TO START OFF?
Title: Re: Credit Card For Beginners
Post by: Barryg on October 18, 2013, 11:41:02 AM
WHATS THE BEST CARD TO START OFF?
Easy on the CAPS LOCK!!! If you have absolutely no credit the best way to start off is become an authorized user on other ppl's cards with low utilization. If that is impossible, you need to start really slow by applying to a store card (Macys, Target etc) or a gas station card... If you are asking something else, please be more specific.
Title: Re: Credit Card For Beginners
Post by: AvrumyW on October 18, 2013, 11:43:41 AM
i have a debit card from td bank
Title: Re: Credit Card For Beginners
Post by: DovtheBear on October 18, 2013, 11:46:07 AM
Easy on the CAPS LOCK!!! If you have absolutely no credit the best way to start off is become an authorized user on other ppl's cards with low utilization. If that is impossible, you need to start really slow by applying to a store card (Macys, Target etc) or a gas station card... If you are asking something else, please be more specific.
I've started with zero CH on secured cards.
See here (http://forums.dansdeals.com/index.php?topic=3106.0) for (probably) the only secured card with a signup bonus.
Title: Re: Credit Card For Beginners
Post by: Barryg on October 18, 2013, 11:46:38 AM
i have a debit card from td bank
Debit doesn't count. Why don't you check your report, go to annualcreditreport.com and pick one of the bureaus (prob equifax best). If no accounts then see my previous post. Or try DovtheBear's idea
Title: Re: Credit Card For Beginners
Post by: AvrumyW on October 18, 2013, 11:49:26 AM
i want good cards
Title: Re: Credit Card For Beginners
Post by: AvrumyW on October 18, 2013, 11:49:47 AM
is that free?
Title: Re: Credit Card For Beginners
Post by: DovtheBear on October 18, 2013, 11:51:02 AM
i want good cards
Who doesn't?
is that free?
Secured cards?
Most secured cards charge a (small) annual fee. LanPass has first year free.
Title: Re: Credit Card For Beginners
Post by: AvrumyW on October 18, 2013, 11:55:31 AM
no i was talking about annualcreditreport.com
Title: Re: Credit Card For Beginners
Post by: AvrumyW on October 18, 2013, 11:56:04 AM
whats the best good card to try first?
Title: Re: Credit Card For Beginners
Post by: DovtheBear on October 18, 2013, 12:05:12 PM
whats the best good card to try first?
Are you intent on going around in circles?
Title: Re: Credit Card For Beginners
Post by: AvrumyW on October 18, 2013, 12:12:40 PM
"good" card as opposed to the one you said
Title: Re: Credit Card For Beginners
Post by: DovtheBear on October 18, 2013, 12:13:32 PM
"good" card as opposed to the one you said
With no CH, almost no chance.
Title: Re: Credit Card For Beginners
Post by: Super Speed on October 18, 2013, 12:14:00 PM
"good" card as opposed to the one you said
You have to start off slow and the way to do that is by listening to @DovTheBear and getting like a store card first.

Title: Re: Credit Card For Beginners
Post by: AvrumyW on October 18, 2013, 12:15:43 PM
whats ch?
Title: Re: Credit Card For Beginners
Post by: DovtheBear on October 18, 2013, 12:16:28 PM
whats ch?
Credit History
Title: Re: Credit Card For Beginners
Post by: AvrumyW on October 18, 2013, 12:16:59 PM
i tried getting brooks brother but they said i didnt qualify around pesach
Title: Re: Credit Card For Beginners
Post by: DovtheBear on October 18, 2013, 12:19:07 PM
i tried getting brooks brother but they said i didnt qualify around pesach
I wonder why.
Title: Re: Credit Card For Beginners
Post by: Centro on October 18, 2013, 12:21:50 PM
i want good cards

To make it simple;

There are a verity of great cards out there with great benefits, everyone will find specific ones the would be the most beneficial for him,

However, most of the times you just can't start off with one of those cards due to low credit score ( which means you have no credit history ) so the banks won't issue you a credit line cause they don't trust you yet.

So you gotto start off with one of the not best cards just to build your credit so you can eventually get the better cards.

So you would either start with a secured card ( which they issue for ppl with low credit score ), or you would become an additional user on somebody else's account ( who has a good credit ) to build your credit.

And after a while you can start looking for a "good card"
Title: Re: Credit Card For Beginners
Post by: AvrumyW on October 18, 2013, 12:23:01 PM
what do you mean?
Title: Re: Credit Card For Beginners
Post by: DovtheBear on October 18, 2013, 12:23:49 PM
what do you mean?
I think he said it pretty clearly.
Title: Re: Credit Card For Beginners
Post by: AvrumyW on October 18, 2013, 12:27:48 PM
i was asking about "i wonder why".


how do you put a quote in blue? i cant figure it out?
Title: Re: Credit Card For Beginners
Post by: DovtheBear on October 18, 2013, 12:29:23 PM
The 'quote' button in the top right corner of each post.
Or the quote option in the ribbon while posting.
Title: Re: Credit Card For Beginners
Post by: AvrumyW on October 18, 2013, 12:32:57 PM
when i click on insert quote it just adds abunch of words not in blue

whats the ribbon?
Title: Re: Credit Card For Beginners
Post by: Centro on October 18, 2013, 12:35:31 PM
when i click on insert quote it just adds abunch of words not in blue

whats the ribbon?
That's how you should see it, when you'll submit the post you'll see it just like any other quoted post.
Title: Re: Credit Card For Beginners
Post by: AvrumyW on October 18, 2013, 12:37:06 PM
That's how you should see it, when you'll submit the post you'll see it just like any other quoted post.

This is what i get
Title: Re: Credit Card For Beginners
Post by: AvrumyW on October 18, 2013, 12:37:43 PM
oh cool!
Title: Re: Credit Card For Beginners
Post by: yuneeq on October 18, 2013, 02:39:04 PM
Lol
Title: Re: Credit Card For Beginners
Post by: Super Speed on October 18, 2013, 02:49:07 PM
Lol
We should change the threads title for DDF for beginners :)

Title: Re: Credit Card For Beginners
Post by: lfas25 on October 18, 2013, 04:57:42 PM
All I have to say is wow!
Title: Re: Credit Card For Beginners
Post by: notanonymous on October 18, 2013, 05:05:03 PM
We should change the threads title for DDF for beginners :)
Maybe there should be a DDF technical support help line?
Title: Re: Credit Card For Beginners
Post by: Achas Veachas on October 18, 2013, 05:14:31 PM
Maybe there should be a DDF technical support help line?
looking for volunteers to man it...
Title: Re: Credit Card For Beginners
Post by: CountValentine on October 18, 2013, 05:54:47 PM
looking for volunteers to man it...
I will do it...click!  :)
Title: Re: Credit Card For Beginners
Post by: meadows6 on October 18, 2013, 11:22:55 PM
I need some advice for applying for multiple credit cards. 

Currently have: Chase SP, AMEX Spg (just authorized user on husband's account), Wells Fargo CC  (stopped using because points redemption is horrible), and a Citi Thank You (not premium) regular card (authorized user on husband's account).

I applied for Chase SP and Chase United the same day at the end of August. They wouldn't give me both since "i had no established relationship with them" yet, so I chose the CSP.

Is it too soon to apply for 4 or 5 credit cards? And since I don't have history with that many places should I ramp up slowly? Have had the wells fargo cc for 8 years, citi for 3 years, amex for 8 years (had blue sky prior).

Really want the Chase Ink and to try for the southwest companion pass, but from reading threads it seems like I'd be better off waiting until 90 days from the last app. So looking at the AMEX Biz Gold, Club Carlson, Citi Hilton. Planning to eventually do the SPG card, but figured I would wait until next summer since we have over 120K points with them right now anyway.

Main travel goals are to get to se asia every year and possible another international flight every other year for a family of four in business or better. It seems like collecting points that can be transferred to united is my best bet since SFO is my airport.

I would love any advice.
Title: Re: Credit Card For Beginners
Post by: Barryg on October 19, 2013, 09:31:10 PM
I need some advice for applying for multiple credit cards. 

Currently have: Chase SP, AMEX Spg (just authorized user on husband's account), Wells Fargo CC  (stopped using because points redemption is horrible), and a Citi Thank You (not premium) regular card (authorized user on husband's account).

I applied for Chase SP and Chase United the same day at the end of August. They wouldn't give me both since "i had no established relationship with them" yet, so I chose the CSP.

Is it too soon to apply for 4 or 5 credit cards? And since I don't have history with that many places should I ramp up slowly? Have had the wells fargo cc for 8 years, citi for 3 years, amex for 8 years (had blue sky prior).

Really want the Chase Ink and to try for the southwest companion pass, but from reading threads it seems like I'd be better off waiting until 90 days from the last app. So looking at the AMEX Biz Gold, Club Carlson, Citi Hilton. Planning to eventually do the SPG card, but figured I would wait until next summer since we have over 120K points with them right now anyway.

Main travel goals are to get to se asia every year and possible another international flight every other year for a family of four in business or better. It seems like collecting points that can be transferred to united is my best bet since SFO is my airport.

I would love any advice.
Shouldn't be too soon with any company besides Chase. It's possible to get another card, but you may as well wait until at least, the three month window with them. As far as other cards, it all depends on score. You may want to pay off balances before the cycle ends to lower utilization. It's prob too late now, but you could have called Chase recon after the first statement closed with your new SP and assuming you spent money and paid back, they may have accepted your second app (good to know for the next time)... Good luck!
Title: Re: Credit Card For Beginners
Post by: Barryg on October 19, 2013, 09:34:16 PM
is that free?
Annualcreditreport.com is free. You can see report from each bureau once per year. Best idea is to stagger and see 1 report every few months. I'd start with equifax (since noone pulls them anyways) as you have not many recent apps to worry about. Creditkarma is also free, you can see Tr info once a week and they give you FAKO score. citi identity monitor is $1 for first month.
Title: Re: Credit Card For Beginners
Post by: shimino1 on October 20, 2013, 08:27:28 AM
Just got a first credit card from wells fargo with 1000$ limit. Before that i was an Au on my dads cc for 8 months and when they pulld my expirien score it was 779. Im planing on using 10$ a month untill i build credit history and go for a major card.
How long do i have to wait for amax, chase?
I prefer a card with no forex fees for use in israel.
Tia
BUMP
Title: Re: Credit Card For Beginners
Post by: Barryg on October 20, 2013, 11:21:38 AM
Just got a first credit card from wells fargo with 1000$ limit. Before that i was an Au on my dads cc for 8 months and when they pulld my expirien score it was 779. Im planing on using 10$ a month untill i build credit history and go for a major card.
How long do i have to wait for amax, chase?
I prefer a card with no forex fees for use in israel.
Tia
BUMP
Sometimes when you go along as AU it counts it from date card was opened, check your credit (see my last post) to see how yours is being reported. What you think about your credit isn't what the 3 bureaus see which could explain your high score. If you still have score anywhere close to 779 you should be able to go for it...
Title: Re: Credit Card For Beginners
Post by: Vosizderneias on October 20, 2013, 11:33:22 AM
Recently did a 3bm with amex (spg personal, business and gold) i want to move along to a 3bm with chase how long should i wait.
Either a answer or im sure this was mentioned before just had hard time finding it on thread. Thanks
Title: Re: Credit Card For Beginners
Post by: jaywhy on October 20, 2013, 11:53:19 AM
Recently did a 3bm with amex (spg personal, business and gold) i want to move along to a 3bm with chase how long should i wait.
Either a answer or im sure this was mentioned before just had hard time finding it on thread. Thanks
90+ days
Title: Re: Credit Card For Beginners
Post by: @Yehuda on October 20, 2013, 11:55:33 AM
90+ days

Why is that necessarily true? The banks are different banks, so why not just try right away for the Chase 3bm? From what I've read on other sites, the hit from a credit pull is very minimal. Also where does 90 days come from, if the hit stays on your report for 2 years?
Title: Re: Credit Card For Beginners
Post by: @Yehuda on October 20, 2013, 01:33:41 PM
My friend has had a Wells Fargo cc for 2 years but never used it. CS is 728 but that's basically useless since there's no payment history on it, just some student loans. Odds for getting a new cc approved? Was thinking of suggesting Freedom.
Title: Re: Credit Card For Beginners
Post by: Vosizderneias on October 20, 2013, 03:13:01 PM

Why is that necessarily true? The banks are different banks, so why not just try right away for the Chase 3bm? From what I've read on other sites, the hit from a credit pull is very minimal. Also where does 90 days come from, if the hit stays on your report for 2 years?
i want to agree with yehuda! Any objections before i take the dive?
Title: Re: Credit Card For Beginners
Post by: shimino1 on October 20, 2013, 03:20:40 PM
Sometimes when you go along as AU it counts it from date card was opened, check your credit (see my last post) to see how yours is being reported. What you think about your credit isn't what the 3 bureaus see which could explain your high score. If you still have score anywhere close to 779 you should be able to go for it...
what your saying is only partly correct. Even tough i was backdated on the AU card and my cr said i had the card for 18 years chase rejected my 3bm and multipule huca only got me the same answer: not enogh credit history.
The rep told me that chase dosent look at AUs even with a high credit score and they will consider u only if u have history on a card that u were liable for.
Title: Re: Credit Card For Beginners
Post by: shimino1 on October 20, 2013, 03:32:01 PM
Why is that necessarily true? The banks are different banks, so why not just try right away for the Chase 3bm? From what I've read on other sites, the hit from a credit pull is very minimal. Also where does 90 days come from, if the hit stays on your report for 2 years? The 90 days is becuse allthogh the hit stays on your report for 2 years the more time goes by it becomes less meningfull. If you have 2 pulls from a year ago it wont make a difrence but if you have 3 pulls from last month it could.
Title: Re: Credit Card For Beginners
Post by: MosheD on October 20, 2013, 06:27:54 PM
Can someone help me out on the...
1) best use(s) of amex mr points?
2) transferable programs?
A thread that talks about thus already would also b appreciated
Title: Re: Credit Card For Beginners
Post by: Barryg on October 20, 2013, 10:59:37 PM
what your saying is only partly correct. Even tough i was backdated on the AU card and my cr said i had the card for 18 years chase rejected my 3bm and multipule huca only got me the same answer: not enogh credit history.
The rep told me that chase dosent look at AUs even with a high credit score and they will consider u only if u have history on a card that u were liable for.
A few Q's (sorry for my part, but it's not over yet)
Is the high score FAKO or FICO?
AFAIK Recon and Huca by a live person goes by the details, which they can see AU etc, but the original auto accept or decline should go mostly to score. Now, as you apply it counts as a credit pull (I think) and your score goes a bit lower, but shouldn't be 80 points...
Did you notice if you were speaking to the same person in multiple HUCA? (I think they try to route calls from same phone to same cs agent, therefore you may get same answer)
You should have 30 days to HUCA so take your time, but when you call talk about the good parts of credit score (never miss payment, not many pulls etc)
Good luck...
Title: Re: Credit Card For Beginners
Post by: Barryg on October 20, 2013, 11:03:06 PM
i want to agree with yehuda! Any objections before i take the dive?
Object... YMMV... continue...
Oh yeah, and as far as avg age of credit lines, it may matter too...
Title: Re: Credit Card For Beginners
Post by: shimino1 on October 21, 2013, 05:36:30 AM
A few Q's (sorry for my part, but it's not over yet)
Is the high score FAKO or FICO?
AFAIK Recon and Huca by a live person goes by the details, which they can see AU etc, but the original auto accept or decline should go mostly to score. Now, as you apply it counts as a credit pull (I think) and your score goes a bit lower, but shouldn't be 80 points....
Did you notice if you were speaking to the same person in multiple HUCA? (I think they try to route calls from same phone to same cs agent, therefore you may get same answer)
You should have 30 days to HUCA so take your time, but when you call talk about the good parts of credit score (never miss payment, not many pulls etc)
Good luck...
Score of 779 is fico from EX and EQ.
I spoke to at least 4 difrent ppl with difrent names and voices and got the same replay.
I prefer not to huca more cus i dont want another pull and prefer to wait awhile and try again after building credit HISTORY.
Thanks anyway.
Title: Re: Credit Card For Beginners
Post by: MosheD on October 21, 2013, 06:58:51 AM
Can someone help me out on the...
1) best use(s) of amex mr points?
2) transferable programs?
A thread that talks about thus already would also b appreciated
http://www.dansdeals.com/archives/28651?wpmp_tp=1
 http://forums.dansdeals.com/index.php?topic=3419.msg35882.msg#35882
Anything else? I would like to cancel my mb plat and am trying to decide what to do with points...
Title: Re: Credit Card For Beginners
Post by: Racer7400 on October 21, 2013, 08:16:18 AM

http://www.dansdeals.com/archives/28651?wpmp_tp=1
 http://forums.dansdeals.com/index.php?topic=3419.msg35882.msg#35882
Anything else? I would like to cancel my mb plat and am trying to decide what to do with points...
depends if you want short haul flights or longer flights short flights I would transfer to BA.
Title: Re: Credit Card For Beginners
Post by: AvrumyW on October 21, 2013, 10:54:20 AM
i got aproved for a chase card freedom!!
Title: Re: Credit Card For Beginners
Post by: rcarentals on October 21, 2013, 10:55:25 AM
i got aproved for a chase card freedom!!
Congrats!
Title: Re: Credit Card For Beginners
Post by: AvrumyW on October 21, 2013, 10:57:41 AM
thank you! how long does it take to come? can they overnight it?
Title: Re: Credit Card For Beginners
Post by: rcarentals on October 21, 2013, 10:59:09 AM
They don't usually like overnighting before you've received it but I'm pretty sure I've had my card overnighted after application.. Have them issue a new one..
Title: Re: Credit Card For Beginners
Post by: AvrumyW on October 21, 2013, 11:00:34 AM
They don't usually like overnighting before you've received it but I'm pretty sure I've had my card overnighted after application.. Have them issue a new one..


why cancel why not the same one? what if i dont get approved again?
Title: Re: Credit Card For Beginners
Post by: Super Speed on October 21, 2013, 11:00:48 AM
thank you! how long does it take to come? can they overnight it?
Call them and they usually do a 48 hour shipping.

Title: Re: Credit Card For Beginners
Post by: Super Speed on October 21, 2013, 11:01:42 AM
why cancel why not the same one? what if i dont get approved again?
No no no don't cancel the card. That's not what he meant, all he was saying was ask them to cancel the cards that were ordered to be shipped and get new cards but of course for the same account.
Title: Re: Credit Card For Beginners
Post by: AvrumyW on October 21, 2013, 11:01:56 AM
Call them and they usually do a 48 hour shipping.



where can i find the number to call?
Title: Re: Credit Card For Beginners
Post by: Super Speed on October 21, 2013, 11:03:00 AM
where can i find the number to call?
8005243880

Title: Re: Credit Card For Beginners
Post by: AvrumyW on October 21, 2013, 11:04:46 AM
8005243880



thank you
Title: Re: Credit Card For Beginners
Post by: rcarentals on October 21, 2013, 11:06:37 AM
thank you
Yes do not cancel the account. Ask them to send you new "replacement cards" I thought you might read it wrong hence the edit before you even managed to quote me :)
Title: Re: Credit Card For Beginners
Post by: AvrumyW on October 21, 2013, 11:08:26 AM
Yes do not cancel the account. Ask them to send you new "replacement cards" I thought you might read it wrong hence the edit before you even managed to quote me :)

i was wondering why i thought cancel when i reread your post
Title: Re: Credit Card For Beginners
Post by: Super Speed on October 21, 2013, 11:10:17 AM
i was wondering why i thought cancel when i reread your post
That would of been scary...

Title: Re: Credit Card For Beginners
Post by: AvrumyW on October 21, 2013, 11:47:11 AM
AWESOME!! THERE SENDING IT OVERNIGHT!!
Title: Re: Credit Card For Beginners
Post by: rcarentals on October 21, 2013, 12:08:28 PM
AWESOME!! THERE SENDING IT OVERNIGHT!!
Good job.
Title: Re: Credit Card For Beginners
Post by: Love A Gr8 Deal!! on October 21, 2013, 12:15:06 PM
I am currently AU on good Amex account and have only a Chase Ink cc.
Just applied yesterday for Chase BA, Sapphire preferred, and Freedom, using 3BM all 3 applications are in pending status.
Regret not applying for Southwest card. Will a new application today for this card be an additional hard pull? Any suggestions on how to apply before 10/31/2013. BTW my fico is 672 do you think I will be approved??
Any info would be appreciated
Thanks
Title: Re: Credit Card For Beginners
Post by: rcarentals on October 21, 2013, 12:24:05 PM
I am currently AU on good Amex account and have only a Chase Ink cc.
Just applied yesterday for Chase BA, Sapphire preferred, and Freedom, using 3BM all 3 applications are in pending status.
Regret not applying for Southwest card. Will a new application today for this card be an additional hard pull? Any suggestions on how to apply before 10/31/2013. BTW my fico is 672 do you think I will be approved??
Any info would be appreciated
Thanks
My "golden advice", call in, get your application numbers, and first ask for the sapphire preffered to be approved. Once that's done call for the BA, then the freedom.
Only skip a card once you have given up on getting it accepted. It is MUCH harder to get a card accepted the other way round. (Tho YMMV - this is my experience)
As well once you have the sapphire preffered specifically, in my experience, chase gives you an easier time as it is a "prestigious" card.
Good luck! PUTPAC and HUCA!
Title: Re: Credit Card For Beginners
Post by: Shmulyg on October 21, 2013, 03:26:26 PM
I am currently AU on good Amex account and have only a Chase Ink cc.
Just applied yesterday for Chase BA, Sapphire preferred, and Freedom, using 3BM all 3 applications are in pending status.
Regret not applying for Southwest card. Will a new application today for this card be an additional hard pull? Any suggestions on how to apply before 10/31/2013. BTW my fico is 672 do you think I will be approved??
Any info would be appreciated
Thanks
Yes.
Title: Re: Credit Card For Beginners
Post by: Buruch on October 22, 2013, 04:16:05 PM
Hey everyone! I got my first line of credit 7 months ago - a freedom card, and that's still my only line. I checked myfico Equifax score a month ago and it was 689, but the last month i had a 17% utilization rate, and since then I had a statement close with 3% utilization - so hopefully the score should go up to at least a 700 (the tool said it could rise to 720 if I have lower utilization %). Some of my pulls didn't go on Equifax - only 2 - I had a few others on Experian and TU. The history of my pulls is something like 2 from the beginning of 2013 for the freedom card (recon), I tried getting the inks 2bm when there was the 60k bonus (like june or july), got rejected for a macys card like 2 months ago(I think it's because I didn't have a credit score till I had a 6 month history - that's when myfico would give me a score), and  I got new internet service as well as electricity set up at my new apt - I think att pulled, but not sure about the dwp. Anyways, I want to go for the chase SW for the companion pass, the inks, the BA, the SP, and maybe some Amex like SPG and maybe another amex while I'm at it. I know that's a lot of cards - I'm not saying I'll apply for all - just those I'm interested in. Wasn't sure if I should post here or the AOR thread. Any advice?
Title: Re: Credit Card For Beginners
Post by: Barryg on October 22, 2013, 08:59:09 PM
Hey everyone! I got my first line of credit 7 months ago - a freedom card, and that's still my only line. I checked myfico Equifax score a month ago and it was 689, but the last month i had a 17% utilization rate, and since then I had a statement close with 3% utilization - so hopefully the score should go up to at least a 700 (the tool said it could rise to 720 if I have lower utilization %). Some of my pulls didn't go on Equifax - only 2 - I had a few others on Experian and TU. The history of my pulls is something like 2 from the beginning of 2013 for the freedom card (recon), I tried getting the inks 2bm when there was the 60k bonus (like june or july), got rejected for a macys card like 2 months ago(I think it's because I didn't have a credit score till I had a 6 month history - that's when myfico would give me a score), and  I got new internet service as well as electricity set up at my new apt - I think att pulled, but not sure about the dwp. Anyways, I want to go for the chase SW for the companion pass, the inks, the BA, the SP, and maybe some Amex like SPG and maybe another amex while I'm at it. I know that's a lot of cards - I'm not saying I'll apply for all - just those I'm interested in. Wasn't sure if I should post here or the AOR thread. Any advice?
I'd say wait. If anything maybe go for a Discover it or something. Sounds like a lot of credit pulls and only 1 account. Anyone want to second...
Title: Re: Credit Card For Beginners
Post by: HP58 on October 23, 2013, 02:16:16 AM
I'd say wait. If anything maybe go for a Discover it or something. Sounds like a lot of credit pulls and only 1 account. Anyone want to second...
+1 I'd def wait a few months if I had a 7 month history and just got rejected for a store card.
Title: Re: Credit Card For Beginners
Post by: notanonymous on October 23, 2013, 02:20:28 AM
I'd say wait. If anything maybe go for a Discover it or something. Sounds like a lot of credit pulls and only 1 account. Anyone want to second...
Especially if there is no immediate need.  Your chances only improve every day you wait.  Also, CMIIW, there are no deals expiring any time soon (except SW).
Title: Re: Credit Card For Beginners
Post by: HP58 on October 23, 2013, 02:32:09 AM
Especially if there is no immediate need.  Your chances only improve every day you wait.  Also, CMIIW, there are no deals expiring any time soon (except SW).
And BTW you can make an easy $125 from Discover now. $50 if s/o refers you & $75 through funneling $1500 through AP this quarter.
Title: Re: Credit Card For Beginners
Post by: popcorn1508 on October 23, 2013, 02:34:40 AM
I have the chase freedom and ba from chase any other card that's worth the bonus points
Title: Re: Credit Card For Beginners
Post by: notanonymous on October 23, 2013, 02:37:27 AM
I have the chase freedom and ba from chase any other card that's worth the bonus points
Do you mean besides SPG, Ink, Sapphire, Amex Gold (upgrade to Plat, then PGGM)?
Title: Re: Credit Card For Beginners
Post by: popcorn1508 on October 23, 2013, 02:39:49 AM
Yes like is the marriot with anything
Title: Re: Credit Card For Beginners
Post by: notanonymous on October 23, 2013, 02:50:08 AM
I have the chase freedom and ba from chase any other card that's worth the bonus points
Are you using them, or davar acher?
Title: Re: Credit Card For Beginners
Post by: popcorn1508 on October 23, 2013, 03:12:26 AM
Davar acher
Title: Re: Credit Card For Beginners
Post by: notanonymous on October 23, 2013, 03:24:54 AM
Davar acher
IIRC AA is ayn pintel zekx.  Oich UA.
Title: Re: Credit Card For Beginners
Post by: popcorn1508 on October 23, 2013, 03:26:07 AM
Shkoyach un ba
Title: Re: Credit Card For Beginners
Post by: notanonymous on October 23, 2013, 03:32:00 AM
Shkoyach un ba
Ich mayn ayn pintel ayn.
Title: Re: Credit Card For Beginners
Post by: popcorn1508 on October 23, 2013, 03:36:15 AM
Un vus is the minimum men muz huben
Title: Re: Credit Card For Beginners
Post by: A European on October 23, 2013, 07:01:33 AM
Bederech klal hindert toisent
Title: Re: Credit Card For Beginners
Post by: notanonymous on October 23, 2013, 09:08:50 AM
Bederech klal hindert toisent
Far BA, far andere efsher mit 50.
Title: Re: Credit Card For Beginners
Post by: Super Speed on October 23, 2013, 11:51:04 AM
We should change this back to english before CV comes in here and starts breaking his teeth!

Title: Re: Credit Card For Beginners
Post by: notanonymous on October 23, 2013, 01:33:06 PM
We should change this back to english before CV comes in here and starts breaking his teeth!
Lamir reddin Polish.
Title: Re: Credit Card For Beginners
Post by: sky121 on October 23, 2013, 03:00:45 PM
Question-One of my family members  has excellent credit, history for about 14 years and was making around 50K up until now.  They stopped working this past year and now work part time and make 11K a year. I don't have much experience with credit cards when it comes to low income like that. Can they still apply for any CC's and get approved?


 Advice?
Title: Re: Credit Card For Beginners
Post by: lfas25 on October 23, 2013, 03:13:04 PM
Question-One of my family members  has excellent credit, history for about 14 years and was making around 50K up until now.  They stopped working this past year and now work part time and make 11K a year. I don't have much experience with credit cards when it comes to low income like that. Can they still apply for any CC's and get approved?


 Advice?

Theres always the "stretching" the truth on the income...
Title: Re: Credit Card For Beginners
Post by: sky121 on October 23, 2013, 03:14:29 PM
Theres always the "stretching" the truth on the income...

There's that. Any other options which don't involve fraud?

Would someone get approved with such a low income?
Title: Re: Credit Card For Beginners
Post by: AharonInIsrael on October 23, 2013, 03:22:07 PM
Would someone get approved with such a low income?
I don't think so. I got denied today after reporting 30k because of low income (according to the CSR) (and was later approved for other reasons)
Title: Re: Credit Card For Beginners
Post by: sky121 on October 23, 2013, 03:23:41 PM
I don't think so. I got denied today after reporting 30k because of low income (according to the CSR) (and was later approved for other reasons)

30K and you got denied? Just for income? That doesn't sound right. Do you have other credit with them already?
Title: Re: Credit Card For Beginners
Post by: DovtheBear on October 23, 2013, 03:38:49 PM
There's that. Any other options which don't involve fraud?

Would someone get approved with such a low income?
That's a little strong. ;)
Title: Re: Credit Card For Beginners
Post by: sky121 on October 23, 2013, 03:39:50 PM
That's a little strong. ;)

Maybe. But it is. Fraud.  Might as well say it like it is.
Title: Re: Credit Card For Beginners
Post by: DovtheBear on October 23, 2013, 03:40:59 PM
Maybe. But it is. Fraud.  Might as well say it like it is.
I was under the impression that most, ahem, "stretch the truth".
Title: Re: Credit Card For Beginners
Post by: sky121 on October 23, 2013, 03:44:06 PM
I was under the impression that most, ahem, "stretch the truth".

And you'd be right. Many do.

Either way, it's still fraud.
Title: Re: Credit Card For Beginners
Post by: DovtheBear on October 23, 2013, 03:55:02 PM
And you'd be right. Many do.

Either way, it's still fraud.
Agreed.
Was just pointing out that it might not be the "type" of fraud that needs to be totally avoided. :P
Title: Re: Credit Card For Beginners
Post by: sky121 on October 23, 2013, 03:57:26 PM
Agreed.
Was just pointing out that it might not be the "type" of fraud that needs to be totally avoided. :P


Meanwhile- back on topic-

Anyone else have any experiences to report with getting approved for credit with a low income?

Again, keeping in mind they have EXCELLENT CREDIT.
Title: Re: Credit Card For Beginners
Post by: notanonymous on October 23, 2013, 05:04:17 PM

Meanwhile- back on topic-

Anyone else have any experiences to report with getting approved for credit with a low income?

Again, keeping in mind they have EXCELLENT CREDIT.
Why not?  Depends on the card and if there are minimum CL requirements.
Title: Re: Credit Card For Beginners
Post by: Buruch on October 23, 2013, 05:46:51 PM
Especially if there is no immediate need.  Your chances only improve every day you wait.  Also, CMIIW, there are no deals expiring any time soon (except SW).

My inlaws live far away, and we're planning on going there for pesach. I hear you need to book mileage in advance so there won't be availability issues, so I want to start accruing quickly. Also, the Mrs really wants a Euro vaca :)
Title: Re: Credit Card For Beginners
Post by: Buruch on October 23, 2013, 05:48:35 PM
+1 I'd def wait a few months if I had a 7 month history and just got rejected for a store card.

Like I mentioned, I'm pretty sure I got rejected for the Macys card because I had no score before 6 months - and that doesn't apply anymore.
Title: Re: Credit Card For Beginners
Post by: Ephcc90 on October 23, 2013, 05:54:54 PM

Maybe. But it is. Fraud.  Might as well say it like it is.
Before I was involved in m/p I'm embarrassed to say I applied for a td cc while opening a checking account and the banker put down for income a completely fictional amount...
Title: Re: Credit Card For Beginners
Post by: sky121 on October 23, 2013, 05:58:02 PM
Before I was involved in m/p I'm embarrassed to say I applied for a td cc while opening a checking account and the banker put down for income a completely fictional amount...

Are you saying he upped the amount? I've heard that before.
Title: Re: Credit Card For Beginners
Post by: Ephcc90 on October 23, 2013, 06:00:42 PM

Are you saying he upped the amount? I've heard that before.
Yea I'm like idk maybe 50 and he's like ill write 90. Maybe he got a commission or s/t idk but he def didn't care about the fraud 
Title: Re: Credit Card For Beginners
Post by: CountValentine on October 23, 2013, 06:17:08 PM
We should change this back to english before CV comes in here and starts breaking his teeth!
I was going to make a comment but I thought it best to keep my mouth shut.
Title: Re: Credit Card For Beginners
Post by: Dave321 on October 23, 2013, 06:23:35 PM
I was under the impression that most, ahem, "stretch the truth".

If a guy makes 36k a year and churns, could be His actual income IS 50k! YMMV  ;D
Title: Re: Credit Card For Beginners
Post by: Dan on October 23, 2013, 06:24:12 PM
Maybe he got a commission or s/t idk but he def didn't care about the fraud 
Bingo.
Bigger the income, bigger the approval chances.
Title: Re: Credit Card For Beginners
Post by: DovtheBear on October 23, 2013, 09:42:01 PM
Bingo.
Bigger the income, bigger the approval chances.
Recommended (stretching the truth-alot)?
Title: Re: Credit Card For Beginners
Post by: beeweegee on October 23, 2013, 09:48:48 PM

Meanwhile- back on topic-

Anyone else have any experiences to report with getting approved for credit with a low income?

Again, keeping in mind they have EXCELLENT CREDIT.
Yes, in the past, I personally have gotten approved for a number of CCs while in school and not making much on the side. I don't remember how much I was making at the time, but it was less than 30k.
I did, however, have excellent credit.
Title: Re: Credit Card For Beginners
Post by: raphy781 on October 23, 2013, 09:50:31 PM
Recommended (stretching the truth-alot)?
There's always a possibility they'll ask you to prove income.
Title: Re: Credit Card For Beginners
Post by: AharonInIsrael on October 24, 2013, 12:02:35 AM
30K and you got denied? Just for income? That doesn't sound right. Do you have other credit with them already?
Yeah, I had the BA with 1500 CL for over a year already.
I also thought it was weird, but that's what she told me.
Title: Re: Credit Card For Beginners
Post by: notanonymous on October 24, 2013, 12:04:32 AM
Yeah, I had the BA with 1500 CL for over a year already.
I also thought it was weird, but that's what she told me.
HUCA?
Title: Re: Credit Card For Beginners
Post by: AharonInIsrael on October 24, 2013, 12:07:56 AM
HUCA?

Lol. Yeah, I did. I was just responding to an earlier post, but I mentioned before that both apps got approved by the same rep in the end after we added my wife's projected income into the equation.
Title: Re: Credit Card For Beginners
Post by: Barryg on October 24, 2013, 12:21:45 AM
My inlaws live far away, and we're planning on going there for pesach. I hear you need to book mileage in advance so there won't be availability issues, so I want to start accruing quickly. Also, the Mrs really wants a Euro vaca :)
It's a marathon not a sprint... Next year, your in-laws and wife will also have their travel plans... It's not like since you really want the point, therefore you'll be accepted, it's actually the exact opposite...
Title: I never had a credit card before
Post by: Dher on October 31, 2013, 02:25:05 PM
 i am 20 years old and i never had a credit card before. Which credit card is the best option for me to apply for... I want good points and stuff
Title: Re: I never had a credit card before
Post by: HP58 on October 31, 2013, 02:26:40 PM
i am 20 years old and i never had a credit card before. Which credit card is the best option for me to apply for... I want good points and stuff
Search "credit cards for beginners", there's a thread about this.
Title: Re: I never had a credit card before
Post by: Barryg on October 31, 2013, 03:00:26 PM
i am 20 years old and i never had a credit card before. Which credit card is the best option for me to apply for... I want good points and stuff
Now that you're in the right thread... And welcome to the forums btw... Click on page 1 and read the wiki... Then find any post by JJ1000 and read what he says to do under his name... You'll be able to learn quicker and get better info that way than asking 1 Q at a time...
Title: Re: Credit Card For Beginners
Post by: sruly on November 20, 2013, 11:31:34 AM
If someone has no credit but is a AU on a amex card with history and low utilization will he get approved for a amex card or should he start with a secured/merchant card ?
Title: Re: Credit Card For Beginners
Post by: raphy781 on November 20, 2013, 12:29:01 PM
If someone has no credit but is a AU on a amex card with history and low utilization will he get approved for a amex card or should he start with a secured/merchant card ?
It's ymmv. I know someone who was approved for an amex (was just an au).
Title: Re: Credit Card For Beginners
Post by: sruly on November 20, 2013, 12:42:39 PM
was it luck or based on his history with amex ?
Title: Re: Credit Card For Beginners
Post by: raphy781 on November 28, 2013, 04:48:20 AM
was it luck or based on his history with amex ?
How should I know???
Title: Re: Credit Card For Beginners
Post by: MeirS on December 23, 2013, 11:51:34 PM
I'm not sure if I'm still a beginner but it's always safer to ask here than on the more ''grown up'' threads.

My first card is BoA 04/12

12/12 I applied for BA and United from Chase and I was declined.
01/13 I was approved for CapOne
02/13 I applied for Delta/Gold/other, Gold was declined other 2 canceled
09/29/13 Approved for freedom

I need some advice for my upcoming application,

I'm thinking of Delta (targeted 50k), SPG and amex gold.

I would like to get in the long run:

Chase:
CSP
BA
United (I'm not sure how long I have to wait since my last app for these cards just under a year ago)

Citi:
AA

I decided to do the AmEx now and to leave the chase for 3 months because I got the targeted Delta offer.
(Am I safe with the AmEx considering that I applied less than a year ago?)

I would really appreciate any input and suggestions.
Title: Re: Credit Card For Beginners
Post by: Ergel on December 23, 2013, 11:59:15 PM
lol, definitely still a beginner.

No reason not to apply for all the cards at once-you're actually better off as they won't see each others pulls.

Gold-you will have trouble getting bonus within 12 months of having a gold card. BA and United-doesn't matter that you applied for them-you weren't approved (and even if you were....)
Title: Re: Credit Card For Beginners
Post by: MeirS on December 24, 2013, 12:57:31 AM
lol, definitely still a beginner.

No reason not to apply for all the cards at once-you're actually better off as they won't see each others pulls.

Gold-you will have trouble getting bonus within 12 months of having a gold card. BA and United-doesn't matter that you applied for them-you weren't approved (and even if you were....)

Thanks for the tips!!

If I do all 3 banks now, then when I do an app-o-rama in 3 months they will tell me that I had 3 recent hard pulls.

I'm pretty bad at recon and HUCA, what's the best way to up my chance for instant approval?

I wasn't approved for the AmEx gold, they canceled the app when they declined me for the Delta, they decided it wasn't even worth looking into.
Title: 1st Credit Card
Post by: Shmulie on December 29, 2013, 09:59:51 AM
Hi i just turned 18 yesterday and i want to get a start on my credit what would be the best way to get my 1st credit card.
BTW my mom put me on as an authorized user for 2 of her credit cards 65k BOA from 1987 and 13k CSP from August.
Title: Re: 1st Credit Card
Post by: sillypainter on December 29, 2013, 10:55:24 AM
Hi i just turned 18 yesterday and i want to get a start on my credit what would be the best way to get my 1st credit card.
BTW my mom put me on as an authorized user for 2 of her credit cards 65k BOA from 1987 and 13k CSP from August.

Mazel tov!

Make sure those show on your credit report, otherwise you didn't gain anything. I know Amex personal au is great, that's what landed my first card.

As a side note, be careful with cc's. It starts as a hubby, and then g-d forbid you can fall into debt, and the whole thing wasn't worthed.
Title: Re: 1st Credit Card
Post by: Shmulie on December 29, 2013, 11:04:58 AM
Mazel tov!

Make sure those show on your credit report, otherwise you didn't gain anything. I know Amex personal au is great, that's what landed my first card.

As a side note, be careful with cc's. It starts as a hubby, and then g-d forbid you can fall into debt, and the whole thing wasn't worthed.
thanks but do you know how long i should wait, which is a good beginner card to get approved for i tried to get one of my free reports but it didnt work and i tried creditkarma but it says you have to be 18 and 1 month
Title: Re: 1st Credit Card
Post by: miles lover on December 29, 2013, 11:08:25 AM
Get the Citi  forward card. Its a student card with a 90% success rate on people with zero credit history including myself after sending in documents that ur part of a yeshiva or something .doesn't have to be to official looking. I made one myself on my  computer ! They give u an 1800 credit line which is amazing for a first timer and very helpful to start building ur credit. Another perk is the 5× on restaurants.
Title: Re: 1st Credit Card
Post by: A European on December 29, 2013, 11:12:46 AM
Hi i just turned 18 yesterday and i want to get a start on my credit what would be the best way to get my 1st credit card.
BTW my mom put me on as an authorized user for 2 of her credit cards 65k BOA from 1987 and 13k CSP from August.
Mazel tov and welcome to DDF.
This time the mods, and myself will do the job for you but next time please search and just after that post in the appropriate thread.
This is the right thread:

http://forums.dansdeals.com/index.php?topic=266

All links for credit cards:

http://forums.dansdeals.com/index.php?topic=23990.0
Title: Re: 1st Credit Card
Post by: Shmulie on December 29, 2013, 11:22:45 AM
Get the Citi  forward card. Its a student card with a 90% success rate on people with zero credit history including myself after sending in documents that ur part of a yeshiva or something .doesn't have to be to official looking. I made one myself on my  computer ! They give u an 1800 credit line which is amazing for a first timer and very helpful to start building ur credit. Another perk is the 5× on restaurants.
I'm not in yeshiva right now what do you mean make it yourself?

Mazel tov and welcome to DDF.
This time the mods, and myself will do the job for you but next time please search and just after that post in the appropriate thread.
This is the right thread:

http://forums.dansdeals.com/index.php?topic=266

All links for credit cards:

http://forums.dansdeals.com/index.php?topic=23990.0


Thanks I saw that thread but I didnt realize thats what i needed.
Title: Re: 1st Credit Card
Post by: miles lover on December 29, 2013, 12:06:26 PM
Obviously if ur in a college that will be helpful. If ur not in any college or yeshiva just tell them ur last yeshiva that u went to and if they ask u for a letter from them u could just make one on ur computer stating ur a full time student in this school from ... To .... . it works trust me!!
Title: Re: Credit Card For Beginners
Post by: raphy781 on December 29, 2013, 12:37:23 PM
It's been mentioned that the discover it card is a good first card (approval-wise). Do you have a relationship with a bank? That can also increase your chances of approval. If all else fails you can go for a secured card.
Title: Re: Credit Card For Beginners
Post by: Shmulie on December 29, 2013, 04:12:00 PM
Thanks guys for your advice i didnt want to lie so i applied for the discover it card and was instantly approved for 1k limit
Title: Re: Credit Card For Beginners
Post by: Shmulie on December 30, 2013, 09:19:11 AM
Thanks guys for the advice one more question how much should i charge to the card a month its a 1k limit
Title: Re: Credit Card For Beginners
Post by: avadah on December 30, 2013, 09:29:50 AM
I want to downgrade my amex plat to avoid paying the  AF.
1) What do I downgrade it to.
2) Do I lose my MR points when I downgrade or do lower level cards also use MR
3) Is the AF prorated that I only pay for the months I had it
thanx
Title: Re: Credit Card For Beginners
Post by: Shmulie on December 30, 2013, 04:10:05 PM
ok so after i got the discover i decided to try and get the card i really wanted so i did a 2bm for chase freedom and SP i called them up today and they said i was declined for the SP (which i expected) but the freedom was still processing so they push it along and i end up getting the freedom with a 3k limit i then called them back and asked for the status of the SP and they went over it with me again and then denied me saying i didnt have enough of my OWN credit history and the starting limit is 5k do you guys think i should try calling back again or just give up?
Title: Re: Credit Card For Beginners
Post by: notanonymous on December 30, 2013, 08:01:13 PM
I want to downgrade my amex plat to avoid paying the  AF.
1) What do I downgrade it to.
2) Do I lose my MR points when I downgrade or do lower level cards also use MR
3) Is the AF prorated that I only pay for the months I had it
thanx
The only card you can downgrade to is the green card, which has an annual fee.  If you have the Blue (or Blue Business) MR card, you can cancel the Gold without losing points.  But in order to transfer out, you'll need one of the charge cards again.
Title: Re: Credit Card For Beginners
Post by: henche on December 30, 2013, 10:30:08 PM
I need this thread. I have a whole new ss # as nichsei melug
Title: Re: Credit Card For Beginners
Post by: A European on December 31, 2013, 02:32:49 AM
I need this thread. I have a whole new ss # as nichsei melug
Mazel tov!
;)
Title: Re: Credit Card For Beginners
Post by: rots5 on January 01, 2014, 03:56:26 PM
I need this thread. I have a whole new ss # as nichsei melug
heck ya! get working!

though hold off on the plat now, until next dec.
Title: Re: Credit Card For Beginners
Post by: avadah on January 07, 2014, 11:06:24 AM
I have two different accounts with chase, a csp and an ink. I'm going to cancel my csp because the af is coming up and I was wondering about transferring my points. What's the difference between combining them with my ink or transferring to my wife's csp. Would I be able to move them back to a different account of mine (ex. a new csp I have yet to sign up for) after a transfer/combination? Thanks
Title: Re: Credit Card For Beginners
Post by: Lou Bob on January 07, 2014, 11:13:11 AM
I have two different accounts with chase, a csp and an ink. I'm going to cancel my csp because the af is coming up and I was wondering about transferring my points. What's the difference between combining them with my ink or transferring to my wife's csp. Would I be able to move them back to a different account of mine (ex. a new csp I have yet to sign up for) after a transfer/combination? Thanks
Don't cancel the csp. Apply first for other cards and use/close it as leverage.

Also, transfer the points to the ink and then transfer back later
Title: Re: Credit Card For Beginners
Post by: avadah on January 08, 2014, 09:14:58 AM
Don't cancel the csp. Apply first for other cards and use/close it as leverage.

Also, transfer the points to the ink and then transfer back later
I meant downgrade not cancel. What's the advantage of transferring to ink instead of spouse?
Title: Re: Credit Card For Beginners
Post by: A European on January 09, 2014, 10:31:02 AM
I meant downgrade not cancel. What's the advantage of transferring to ink instead of spouse?
0
Title: Re: Credit Card For Beginners
Post by: Mouse on January 10, 2014, 03:33:06 AM
None of the chase cards give bonuses if you spend a certain amount annually? (Just want to make sure i understood this correctly http://forums.dansdeals.com/index.php?topic=25991.0 )
Title: Re: Credit Card For Beginners
Post by: HP58 on January 10, 2014, 04:01:09 AM
None of the chase cards give bonuses if you spend a certain amount annually? (Just want to make sure i understood this correctly  )
People have reported getting matched to the $20k/100k Avios offer on Chase BA.
Title: Re: Credit Card For Beginners
Post by: Mouse on January 10, 2014, 07:23:25 AM
Is it worth pumping in $20k for only a chance or is it pretty common?
Title: Re: Credit Card For Beginners
Post by: raphy781 on January 10, 2014, 07:37:38 AM
Is it worth pumping in $20k for only a chance or is it pretty common?
You only spend the 20k after they agree to match the 100k offer.
Title: Re: Credit Card For Beginners
Post by: popcorn1508 on January 10, 2014, 03:26:28 PM
Is it worth pumping in $20k for only a chance or is it pretty common?
and even then its not worth it your better opening up a few more new cards
Title: Re: Credit Card For Beginners
Post by: avadah on January 11, 2014, 06:47:18 PM
Why?
Title: Re: Credit Card For Beginners
Post by: ushdadude on January 11, 2014, 07:05:57 PM
Why?


20k for 50k miles isn't great. You can open 4 cards with that kind of spend and get a lot more.
Title: Re: Credit Card For Beginners
Post by: dudi on January 12, 2014, 01:16:17 AM
I applied 5 days ago for chase sapphire prrefred  and chase united miles explorer using 2bm I have not heard from them anything yet is there any way to check was is the story? Also if I was denied and I'm calling the reconsideration line how does it work do I call them about each one sepratly our do I tell them I applied for two?
Title: Re: Credit Card For Beginners
Post by: Lou Bob on January 12, 2014, 01:20:30 AM
I applied 5 days ago for chase sapphire prrefred  and chase united miles explorer using 2bm I have not heard from them anything yet is there any way to check was is the story? Also if I was denied and I'm calling the reconsideration line how does it work do I call them about each one sepratly our do I tell them I applied for two?
call recon. Ask them about one.  Once that is approved,  ask about the other. If second card isn't approved, start HUCA till you get it.  Keep In mind, When approved for the first, try transferring credit from there to the second card if they don't approve it
Title: Re: Credit Card For Beginners
Post by: MeirS on January 12, 2014, 03:25:16 AM
call recon. Ask them about one.  Once that is approved,  ask about the other. If second card isn't approved, start HUCA till you get it.  Keep In mind, When approved for the first, try transferring credit from there to the second card if they don't approve it
If the first card is not approved, don't mention the second card, just HUCA.
Title: Re: Credit Card For Beginners
Post by: avadah on January 12, 2014, 07:52:48 AM

20k for 50k miles isn't great. You can open 4 cards with that kind of spend and get a lot more.
I thought it's a bonus of 100k after spending 20k
Title: Re: Credit Card For Beginners
Post by: ushdadude on January 12, 2014, 08:00:02 AM
I thought it's a bonus of 100k after spending 20k

You get the first 50k after spending just 2k so the additional 50k will cost you 18k
Title: Re: Credit Card For Beginners
Post by: avadah on January 12, 2014, 08:30:59 AM
You only spend the 20k after they agree to match the 100k offer.

So this is getting matched for 100k after spending 20k or getting matched for 50k after?
Title: Re: Credit Card For Beginners
Post by: dudi on January 12, 2014, 09:03:41 AM
call recon. Ask them about one.  Once that is approved,  ask about the other. If second card isn't approved, start HUCA till you get it.  Keep In mind, When approved for the first, try transferring credit from there to the second card if they don't approve it
I should call them already now? Our wait until I'm declined?
Title: Re: Credit Card For Beginners
Post by: raphy781 on January 12, 2014, 09:05:10 AM
I should call them already now? Our wait until I'm declined?
No reason to wait although today is Sunday so they're closed.
Title: Re: Credit Card For Beginners
Post by: ushdadude on January 12, 2014, 10:20:30 AM
So this is getting matched for 100k after spending 20k or getting matched for 50k after?

IIRC the 100k offer is for 50k initially. I would spend 2k to meet original offer and then sm for larger offer
Title: Re: Credit Card For Beginners
Post by: dudi on January 13, 2014, 01:44:03 PM
Did a 2bm on my wife's name a week ago with chase been waiting it said will let me know in two weeks today one of them switched to 7-10 days which means declined . now today the whole morning chase have been calling my wife she was working so she couldn't answer is this normal that they call you? What do they want? What should I be telling them?
Title: Re: Credit Card For Beginners
Post by: moka on January 13, 2014, 11:03:18 PM
I have a freedom with $500 cl. I'm trying to transfer some credit from my ba. They keep telling me they can't transfer credit unless I close the card. Any helpful ideas?
Title: Re: Credit Card For Beginners
Post by: Shmulyg on January 14, 2014, 01:00:17 AM
I have a freedom with $500 cl. I'm trying to transfer some credit from my ba. They keep telling me they can't transfer credit unless I close the card. Any helpful ideas?
It's standard. They won't let you go under $500.
Title: Re: Credit Card For Beginners
Post by: moka on January 14, 2014, 01:10:35 AM
It's standard. They won't let you go under $500.
im trying to transfer $1500 credit from my ba which has a cl of $11500
Title: Re: Credit Card For Beginners
Post by: Shmulyg on January 14, 2014, 01:18:35 AM
im trying to transfer $1500 credit from my ba which has a cl of $11500
Sorry, i misunderstood you. The rep. may be making the same mistake as i did. I would HUCA. AFAIK, this is unheard of.
Title: Re: Credit Card For Beginners
Post by: wayfe on January 14, 2014, 02:24:21 AM
How does a balance transfer work- is there a fee from the bank paying off the balance or a fee from the bank receiving the payment? Both? Can I transfer any balance or does it need to be an overdue balance? If I pay off the transfer right away do I still get charged interest?
Title: Re: Credit Card For Beginners
Post by: zh cohen on January 14, 2014, 11:37:22 AM
How does a balance transfer work- is there a fee from the bank paying off the balance or a fee from the bank receiving the payment? Both? Can I transfer any balance or does it need to be an overdue balance? If I pay off the transfer right away do I still get charged interest?

The bank paying off the balance basically sends a check on your behalf to the other bank,  then charges you the about they paid plus a fee (a certain percent of what they paid).

You can transfer any balance.

No.  (you'll only pay the balance transfer fee)
Title: Re: Credit Card For Beginners
Post by: wayfe on January 14, 2014, 05:26:48 PM
The bank paying off the balance basically sends a check on your behalf to the other bank,  then charges you the about they paid plus a fee (a certain percent of what they paid).

You can transfer any balance.

No.  (you'll only pay the balance transfer fee)

thanks
Title: Re: Credit Card For Beginners
Post by: wayfe on January 17, 2014, 12:20:24 PM
Can you do a balance transfer to an account with no balance or overpay with the transfer? Will that cause any problems?
Title: Re: Credit Card For Beginners
Post by: dudi on January 19, 2014, 02:41:48 PM
Could I donate money on a web site to make up for the spending in the first month or two of the credit card to get my bonus miles?
Title: Re: Credit Card For Beginners
Post by: raphy781 on January 19, 2014, 02:42:55 PM
Could I donate money on a web site to make up for the spending in the first month or two of the credit card to get my bonus miles?
Yes.
Title: Re: Credit Card For Beginners
Post by: dudi on January 19, 2014, 03:02:48 PM
Yes.
Thanks
Title: Re: Credit Card For Beginners
Post by: dudi on January 20, 2014, 12:57:50 AM
If one does not have a SSN yet and puts himself as a AU would that build up his credit? If yes how would they know it's me?
Title: Re: Credit Card For Beginners
Post by: HP58 on January 20, 2014, 01:34:37 AM
If one does not have a SSN yet and puts himself as a AU would that build up his credit? If yes how would they know it's me?
IINM Chase doesn't require SSN for AUs. They have their ways of knowing who you are (e.g. address).
Title: Re: Credit Card For Beginners
Post by: dudi on January 20, 2014, 09:41:45 AM
IINM Chase doesn't require SSN for AUs. They have their ways of knowing who you are (e.g. address).
Tnx
Title: Re: Credit Card For Beginners
Post by: Barryg on January 21, 2014, 12:12:26 AM
If one does not have a SSN yet and puts himself as a AU would that build up his credit? If yes how would they know it's me?
IINM Chase doesn't require SSN for AUs. They have their ways of knowing who you are (e.g. address).
You won't have a credit score without a social, I once had a phone company check my credit in another country as I didn't have a social, and it worked, but nothing will trasfer to your social if you don't have one... (<--- IMO)
Title: Re: Credit Card For Beginners
Post by: Twin on January 21, 2014, 01:19:10 AM
If one does not have a SSN yet and puts himself as a AU would that build up his credit? If yes how would they know it's me?
NO IT WIULD NOT BULID YOUR CREDIT, being a au without a ss# is nothing it's just your name on the card
Title: Re: Credit Card For Beginners
Post by: dudi on January 21, 2014, 11:05:41 AM
NO IT WIULD NOT BULID YOUR CREDIT, being a au without a ss# is nothing it's just your name on the card
So basically the only way to do it is wait till I get my SSN# and then add my name as a AU?
Title: Re: Credit Card For Beginners
Post by: zh cohen on January 21, 2014, 01:37:30 PM
NO IT WIULD NOT BULID YOUR CREDIT, being a au without a ss# is nothing it's just your name on the card

-10
Very questionable statement to be putting in all caps... Depending who you ask,  chase can (and does) report the account on your social even if you don't give it to them.  They find you based on your name and address.
Title: Re: Credit Card For Beginners
Post by: Twin on January 21, 2014, 01:42:53 PM
So basically the only way to do it is wait till I get my SSN# and then add my name as a AU?
correct
Title: Re: Credit Card For Beginners
Post by: Dr Moose on January 21, 2014, 01:46:24 PM
-10
Very questionable statement to be putting in all caps... Depending who you ask,  chase can (and does) report the account on your social even if you don't give it to them.  They find you based on your name and address.
he doesn't even have an ss #
Title: Re: Credit Card For Beginners
Post by: raphy781 on January 21, 2014, 01:46:33 PM
-10
Very questionable statement to be putting in all caps... Depending who you ask,  chase can (and does) report the account on your social even if you don't give it to them.  They find you based on your name and address.
He was referring to a case where you dont have a social, not a case that you didnt give it to chase.
Title: Re: Credit Card For Beginners
Post by: AnonymousUser on January 22, 2014, 12:15:57 AM
I have a bunch of personal CCs (Chase Freedom, BA, UMPE, Barclays US Airways, Lufthansa, BoA, and CapitalOne Venture), a Chase IB, and a biz SPG, both of which are for sole proprietorships. I tried several times to open more Chase CCs, personal and business, and recon told me that they don't want to give me more CL for the amount of personal and business income I reported.
I am doing consulting for a tzedakah organization which has an annual gross income of around 300k. They asked me to open a biz CC for them under my name, preferably with a CL of around 25k, to be used mainly for airline tickets and rental cars around that amount annually around Purim time.
1. Can I open another Chase card based on the organization's income even though they don't want to add CL based on my own income? What about AMEX; would I be able to pass an FR with that?
2. What would be the best cards for me to open at this point to maximize points with sign up bonuses and spending? I'm not sure if they would use the points or sell them.
TIA.
Title: Re: Credit Card For Beginners
Post by: dudi on January 22, 2014, 12:45:47 AM
He was referring to a case where you dont have a social, not a case that you didnt give it to chase.
Correct
Just forgot to mention one thing that its in the process of getting a SSN# so when do I need my SS now or when I apply for a new one?
And will it automatically go on when I get it?
Title: Re: Credit Card For Beginners
Post by: zh cohen on January 22, 2014, 06:13:08 PM
He was referring to a case where you dont have a social, not a case that you didnt give it to chase.

Sorry. I should have read more carefully.
Title: Re: Credit Card For Beginners
Post by: thejerseyguy on January 22, 2014, 09:31:53 PM
Is there any benefit to an Amex gold over an Amex green. I have a gold and am thinking of downgrading to green.
Title: Re: Credit Card For Beginners
Post by: Shmulyg on January 23, 2014, 12:06:07 AM
Is there any benefit to an Amex gold over an Amex green. I have a gold and am thinking of downgrading to green.
3 points for airline purchases and 15k after spending 30k to name a few.
Title: Re: Credit Card For Beginners
Post by: HP58 on January 23, 2014, 01:34:54 AM
3 points for airline purchases and 15k after spending 30k to name a few.
Every card automatically gets 15k bonus for $30k spend?
Title: Re: Credit Card For Beginners
Post by: ushdadude on January 23, 2014, 07:37:24 AM
3 points for airline purchases and 15k after spending 30k to name a few.
Every card automatically gets 15k bonus for $30k spend?


He's referring to the gold rewards card.
Title: Re: Credit Card For Beginners
Post by: thejerseyguy on January 23, 2014, 07:38:28 AM

He's referring to the gold rewards card.

So is there any advantage to the regular gold over the green?
Title: Re: Credit Card For Beginners
Post by: HP58 on January 24, 2014, 03:17:55 AM
He's referring to the gold rewards card.
That's PRG?
Title: Re: Credit Card For Beginners
Post by: ushdadude on January 24, 2014, 09:33:43 AM
That's PRG?

yes
Title: Which is a good card to start with.....
Post by: yakov.ziki on January 26, 2014, 09:23:34 PM
I am new to the credit card world amd I will like to know which cats would be great to start with. ....
I am not a traveler but that does not mean I am not going to fly. ..
And also I am looking for a card that rewards me well. ... Good mile rewards. ...If you have any suggestions please feel free to write.....thanks
Title: Re: Which is a good card to start with.....
Post by: SearchGuy on January 26, 2014, 09:25:55 PM
I am new to the credit card world amd I will like to know which cats would be great to start with. ....
I am not a traveler but that does not mean I am not going to fly. ..
And also I am looking for a card that rewards me well. ... Good mile rewards. ...If you have any suggestions please feel free to write.....thanks
A lesson from SearchGuy: NEVER EVER START UP WITH CATS!!! EVEN IF YOU'RE FLYING A LOT
Title: Which is a good card to start with.....
Post by: Super Speed on January 26, 2014, 09:31:15 PM
I am new to the credit card world amd I will like to know which cats would be great to start with. ....
I am not a traveler but that does not mean I am not going to fly. ..
And also I am looking for a card that rewards me well. ... Good mile rewards. ...If you have any suggestions please feel free to write.....thanks
Welcome to the forums! There is a thread stickied to the top called "credit card for beginners" try searching there before opening a new thread.
Title: Re: Which is a good card to start with.....
Post by: yakov.ziki on January 26, 2014, 10:23:34 PM
Is it possible to send me a link to this sticky that's titled credit card for beginners Thanks
Title: Re: Which is a good card to start with.....
Post by: yoshi on January 26, 2014, 10:52:16 PM
Try becoming an authorized user with an amex card. (From someone with good credit) then after about 3 months try applying for an amex card. What I did was, I had a bank of america account. So I told them that I really like boa etc...
Title: Re: Which is a good card to start with.....
Post by: ilherman on January 26, 2014, 10:55:08 PM
Is it possible to send me a link to this sticky that's titled credit card for beginners Thanks
http://forums.dansdeals.com/index.php?topic=16069
Title: Re: Which is a good card to start with.....
Post by: Centro on January 26, 2014, 10:56:14 PM
Is it possible to send me a link to this sticky that's titled credit card for beginners Thanks
This (http://forums.dansdeals.com/index.php?topic=266.msg0.msg#0) is the thread you're looking for,
And this (http://forums.dansdeals.com/index.php?topic=23990.msg0.msg#0) thread might be very helpful for you as a beginner.
Title: Re: Credit Card For Beginners
Post by: AnonymousUser on January 27, 2014, 12:10:08 AM
I have a bunch of personal CCs (Chase Freedom, BA, UMPE, Barclays US Airways, Lufthansa, BoA, and CapitalOne Venture), a Chase IB, and a biz SPG, both of which are for sole proprietorships. I tried several times to open more Chase CCs, personal and business, and recon told me that they don't want to give me more CL for the amount of personal and business income I reported.
I am doing consulting for a tzedakah organization which has an annual gross income of around 300k. They asked me to open a biz CC for them under my name, preferably with a CL of around 25k, to be used mainly for airline tickets and rental cars around that amount annually around Purim time.
1. Can I open another Chase card based on the organization's income even though they don't want to add CL based on my own income? What about AMEX; would I be able to pass an FR with that?
2. What would be the best cards for me to open at this point to maximize points with sign up bonuses and spending? I'm not sure if they would use the points or sell them.
TIA.
Bump.
Also, if the organization has an EIN, would that help for #1?
Title: Re: Credit Card For Beginners
Post by: JosephM on January 27, 2014, 08:35:24 AM
Hi, I'm a newbie and just applied for CSP and was approved for 30K. Should I call and ask them to reduce it for future applications?
Title: Re: Credit Card For Beginners
Post by: Dr Moose on January 27, 2014, 08:45:09 AM
Hi, I'm a newbie and just applied for CSP and was approved for 30K. Should I call and ask them to reduce it for future applications?
no
Title: Re: Credit Card For Beginners
Post by: ushdadude on January 27, 2014, 09:19:36 AM
Hi, I'm a newbie and just applied for CSP and was approved for 30K. Should I call and ask them to reduce it for future applications?

no
but next time you can use the excess CL as leverage and offer to move it to the new card
Title: Re: Credit Card For Beginners
Post by: sky121 on January 27, 2014, 09:34:14 AM
Can you add a joint user to any card already opened? Do you have to have applied that way originally?
Title: Re: Credit Card For Beginners
Post by: raphy781 on January 27, 2014, 09:40:12 AM
Can you add a joint user to any card already opened? Do you have to have applied that way originally?
Do you mean authorized user or joint account holder?
Title: Re: Credit Card For Beginners
Post by: sky121 on January 27, 2014, 09:46:33 AM
Do you mean authorized user or joint account holder?

JOINT account holder.   I heard Chase stopped allowing them. Does Bank of America still allow the addition of a Joint Account holder?
Title: Re: Credit Card For Beginners
Post by: Super Speed on January 27, 2014, 09:49:37 AM
Can you add a joint user to any card already opened? Do you have to have applied that way originally?
In Chase when they did it you were able to add after.

Title: Re: Credit Card For Beginners
Post by: fruma2113 on January 27, 2014, 09:52:48 AM
My husband has never had a credit card. We want to add him as an AU to one of his parent's cards but had a few questions first. If he is added to a card and gains there credit information going back quite a few years and builds up his credit and then his parents close that card will his credit be lowered? Basically, are there any concerns that I should be aware of when being added as an AU. TIA
Title: Re: Credit Card For Beginners
Post by: DBK on January 27, 2014, 01:30:34 PM
Does every credit card have the option of being signed up for as a business card and as a personal card?
Title: Re: Credit Card For Beginners
Post by: chucksterace on January 27, 2014, 01:37:07 PM
Does every credit card have the option of being signed up for as a business card and as a personal card?

Nope. Only select ones.

Welcome, and thank for posting in the correct thread.
Title: Re: Credit Card For Beginners
Post by: Super Speed on January 27, 2014, 02:14:03 PM
Nope. Only select ones.

Welcome, and thank for posting in the correct thread.
Positive reinforcement goes a long way! ;)

Title: Re: Credit Card For Beginners
Post by: Barryg on January 27, 2014, 11:42:59 PM
My husband has never had a credit card. We want to add him as an AU to one of his parent's cards but had a few questions first. If he is added to a card and gains there credit information going back quite a few years and builds up his credit and then his parents close that card will his credit be lowered? Basically, are there any concerns that I should be aware of when being added as an AU. TIA
Only concern is if the card closes with a high balance - that would make for a high utilization percentage. Other than that, each card has it's own info and if they close, it will still stay on report for 10 years. At that point, hopefully your husband will have credit of his own and it won't matter. In other words - nothing to lose...
Title: Re: Credit Card For Beginners
Post by: ushdadude on January 28, 2014, 07:55:05 PM
I'm planning a vacation in southern california and alaska this summer. What are good hotel cards to apply for? i already did SPG reg and biz. Thanks
Title: Re: Credit Card For Beginners
Post by: Emkay on January 28, 2014, 07:58:59 PM
I'm planning a vacation in southern california and alaska this summer. What are good hotel cards to apply for? i already did SPG reg and biz. Thanks
just as a random data point California has a large amount of brg Possibilities
Title: Re: Credit Card For Beginners
Post by: DBK on January 28, 2014, 08:01:39 PM
How does it work with meeting CC thresholds? AP limits you to 1000 how do you use the vanilla reloadables to meet it and is there a limit depending on the bank the CC is issued from? ???
Title: Re: Credit Card For Beginners
Post by: ushdadude on January 28, 2014, 08:06:48 PM
just as a random data point California has a large amount of brg Possibilities

interesting. i'll have to read up on it. thanks
Title: Re: Credit Card For Beginners