First Credit Card Tips
Author: nefertiti66
Posted: Thu Jul 06, 2006 11:07 am
Post subject: Please help! Few questions about trying to get my first card
I just cleared my credit from bad card usage in college. My score is now 715-720 (i got all three scores). I only have Federal school loans which I am in good payment history for 3 years totalling 23K.
I have no credit cards on my account.
I applied at the end of june for the Citi Divident select and was denied. The reason they say that I was denied is that I have no credit cards and I dont have any rollover accounts.
I'm trying to get a card which I will use for necessities and pay in full each month to raise my score even further.
I have an inquiry one year ago from a credit card application that was denied and an application last month which was denied.
After being rejected how long should I wait to apply for another card?
How many inquiries are "ok"?
Is capital one platinum card a good option for me? Or will i be rejected until i get a department store card for a while. If I get a department store card, how long should i wait to apply for a real credit card?
Sorry for so many questions but with all the research i've done on the internet i find nothing about my unique situation.
Regards to you all,
Nefertiti
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: stevejk
Posted: Thu Jul 06, 2006 12:54 pm
Post subject: First Credit Card Tips
My unqualilfied opinion is to go with a department store card (JC Penney, Sears, WMT, et al) and be a good customer and pay in full and on time. An alternative would be a gasoline card.
If worse comes to worst, there's secured credit cards.
As for how long before applying for a Visa or MasterCard, someone with personal experience can give a better answer, but I imagine 3-6 months of activity minimum. Give time for the information to spread to the three Credit Reporting Agencies.
Author: EasyRhino
Posted: Thu Jul 06, 2006 10:11 pm
Post subject: First Credit Card Tips
Yep, either a store card (ideally a store you use a lot, like gas or walmart or target or ???), or a secured card from a bank.
Unsecured cards that target low/no credit users tend to have amazingly crappy fees.
Also, if you can be made an authorized user on a card with a good payment history, that mighthelp.
Author: nefertiti66
Posted: Fri Jul 07, 2006 8:46 am
Post subject: Thank you!
Thank you both so much! I appreciate your help. The only problem is that I live in New York City and don't drive and there aren't any Walmarts in manhattan. I looked online last night to see about maybe a Macy's or a Victorias Secret card and they both say they require you to have a credit card for verification! so i'm between a rock and a hard place!
the only option i guess is the secured card. Any recommendations for which company?
Thanks sincerely for all your help!
Author: Ira
Posted: Fri Jul 07, 2006 9:06 am
Post subject: First Credit Card Tips
Don't go on line to look for store credit cards - go to the store itself. You'll see signs in major department stores - Macy's, JC Penny, Target Stores, Old Navy, Bloomingdales, Eddie Bauer, J Crew, Banana Republic, etc. - advertising the store credit cards, usually offering a discount for first usage of the card. Buy something and ask if you can apply for the store card. You'll need identification, of course, but you should be able to bag one or two that way.
Author: nefertiti66
Posted: Fri Jul 07, 2006 10:15 am
Post subject: Thanks!
Thanks for the tip! Hopefully they wont ask me for credit verificationt if i go in the store! I appreciate your help. I'm going to macy's this weekend and i'll see what happens! You guys are the best!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Posted: Thu Jul 06, 2006 11:07 am
Post subject: Please help! Few questions about trying to get my first card
I just cleared my credit from bad card usage in college. My score is now 715-720 (i got all three scores). I only have Federal school loans which I am in good payment history for 3 years totalling 23K.
I have no credit cards on my account.
I applied at the end of june for the Citi Divident select and was denied. The reason they say that I was denied is that I have no credit cards and I dont have any rollover accounts.
I'm trying to get a card which I will use for necessities and pay in full each month to raise my score even further.
I have an inquiry one year ago from a credit card application that was denied and an application last month which was denied.
After being rejected how long should I wait to apply for another card?
How many inquiries are "ok"?
Is capital one platinum card a good option for me? Or will i be rejected until i get a department store card for a while. If I get a department store card, how long should i wait to apply for a real credit card?
Sorry for so many questions but with all the research i've done on the internet i find nothing about my unique situation.
Regards to you all,
Nefertiti
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: stevejk
Posted: Thu Jul 06, 2006 12:54 pm
Post subject: First Credit Card Tips
My unqualilfied opinion is to go with a department store card (JC Penney, Sears, WMT, et al) and be a good customer and pay in full and on time. An alternative would be a gasoline card.
If worse comes to worst, there's secured credit cards.
As for how long before applying for a Visa or MasterCard, someone with personal experience can give a better answer, but I imagine 3-6 months of activity minimum. Give time for the information to spread to the three Credit Reporting Agencies.
Author: EasyRhino
Posted: Thu Jul 06, 2006 10:11 pm
Post subject: First Credit Card Tips
Yep, either a store card (ideally a store you use a lot, like gas or walmart or target or ???), or a secured card from a bank.
Unsecured cards that target low/no credit users tend to have amazingly crappy fees.
Also, if you can be made an authorized user on a card with a good payment history, that mighthelp.
Author: nefertiti66
Posted: Fri Jul 07, 2006 8:46 am
Post subject: Thank you!
Thank you both so much! I appreciate your help. The only problem is that I live in New York City and don't drive and there aren't any Walmarts in manhattan. I looked online last night to see about maybe a Macy's or a Victorias Secret card and they both say they require you to have a credit card for verification! so i'm between a rock and a hard place!
the only option i guess is the secured card. Any recommendations for which company?
Thanks sincerely for all your help!
Author: Ira
Posted: Fri Jul 07, 2006 9:06 am
Post subject: First Credit Card Tips
Don't go on line to look for store credit cards - go to the store itself. You'll see signs in major department stores - Macy's, JC Penny, Target Stores, Old Navy, Bloomingdales, Eddie Bauer, J Crew, Banana Republic, etc. - advertising the store credit cards, usually offering a discount for first usage of the card. Buy something and ask if you can apply for the store card. You'll need identification, of course, but you should be able to bag one or two that way.
Author: nefertiti66
Posted: Fri Jul 07, 2006 10:15 am
Post subject: Thanks!
Thanks for the tip! Hopefully they wont ask me for credit verificationt if i go in the store! I appreciate your help. I'm going to macy's this weekend and i'll see what happens! You guys are the best!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 7:43 PM
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