Need Credit Card For Purchases and to Build Credit
Author: Rhin0
Posted: Tue Nov 23, 2004 2:11 am
Post subject: Need card for purchases and to build credit...
hello everyone,
This is my first post here and i'm looking for some help, i'd appreciate it!
First off I am 22 yr old and still in college, live at home. I am not looking for a credit card to run up a debt and ruin my life. I use a CC now (Mother's) and never buy anything if I don't have the money to pay it off. I never carry a balance, ever. I consider myself to be very responsible and adult. I have charged probably almost 5-6k over the past 3 years on her card and I use my Visa checkcard (does nothing for my credit). This entire time I should have had my own card so I could build credit but nobody ever told me any different. Hindsight is 20/20! I'd like to get my credit up to 740 here soon, so I want to build also.
So anyways I currently have a credit score of 729. I took out a $3,000 dollar loan in the summer and paid it off in about 3 1/2 months. Funny but that dropped my score from a 731 to a 729. Also I have $14,000 in deferred loans that helped my credit. Also have a Shell gas card on there. I am also preapproved for another 3k loan I plan to take out this week.
So I'm looking for a credit card and it needs a high limit (~5k). My first choice was Amex green because it was a charge card and not a credit card, it was my style. But I only make about 13k a year and that doesn't make their cutoff. They told me it wouldn't disqualify me for sure but I don't think it is worth the chance of being denied then having to be credit checked AGAIN for the Blue Cash. It is stupid they can't just use the old credit check for another card, but they can't. I also want to get a Visa credit card through my local credit union since I can pay it off at the desk. However my limit would be $500-1,500 somewhere in there. They only gave my mom 2k limit and her credit is PERFECT.
I want to use it this week to make a 5k purchase and pay it off at the end of the month, so I would like a good limit so I can use it if I have to.
-How much will my credit go down now since I had one check for a loan, then another for a CC I want... All within a month?
-Should I get the Citi bank Mastercard instead? Will I be approved? (If so which one? (Dividend, Dividend college, or other?)
-Should I apply for the card BEFORE I actually take out the loan or after?
-Can they give me the CC # over the phone so I can use it that day and not wait on the plastic?
Hope all that made sense, it is a little cluttered. Let me know if you need anymore information.
Please advise.
Thanks for your help and I look forward to your thoughts and recommendations!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: ious
Posted: Tue Nov 23, 2004 11:23 am
Post subject: Need Credit Card For Purchases and to Build Credit
One thing that is not helping your score is you're paying your bills off too soon. You need to build some history which means letting your bills go for atleast 12 months, 24 is preferably. You can leave a small balance on your cards but you need to let them run for a longer period of time to build history which helps your fico score.
Author:
Posted: Tue Nov 23, 2004 1:56 pm
Post subject: Need Credit Card For Purchases and to Build Credit
Curious wrote:
One thing that is not helping your score is you're paying your bills off too soon. You need to build some history which means letting your bills go for atleast 12 months, 24 is preferably. You can leave a small balance on your cards but you need to let them run for a longer period of time to build history which helps your fico score.
I have to say that is the most jacked up thing about credit scores. so stupid if you ask me
So what about these credit cards? I'm going to apply for one...
Reward points that I could translate to cash at Best buy or some place with video games or computer stuff would be cool but if the cash back was about the same that would be good too.
Author: Rhin0
Posted: Tue Nov 23, 2004 3:51 pm
Post subject: Need Credit Card For Purchases and to Build Credit
Using the free offer through the site and a recommendation by Curtis I checked my Experian Credit score and I have a score of 762- Excellent
so i'm at:
Equifax- 729
Experian- 762 - Excellent
Transunion- 671 - Poor-Fair (Ouch)
My Transunion score is bad!
And guys, that gas card I have is a Citi one... Will that help me get a card with them?
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Posted: Tue Nov 23, 2004 2:11 am
Post subject: Need card for purchases and to build credit...
hello everyone,
This is my first post here and i'm looking for some help, i'd appreciate it!
First off I am 22 yr old and still in college, live at home. I am not looking for a credit card to run up a debt and ruin my life. I use a CC now (Mother's) and never buy anything if I don't have the money to pay it off. I never carry a balance, ever. I consider myself to be very responsible and adult. I have charged probably almost 5-6k over the past 3 years on her card and I use my Visa checkcard (does nothing for my credit). This entire time I should have had my own card so I could build credit but nobody ever told me any different. Hindsight is 20/20! I'd like to get my credit up to 740 here soon, so I want to build also.
So anyways I currently have a credit score of 729. I took out a $3,000 dollar loan in the summer and paid it off in about 3 1/2 months. Funny but that dropped my score from a 731 to a 729. Also I have $14,000 in deferred loans that helped my credit. Also have a Shell gas card on there. I am also preapproved for another 3k loan I plan to take out this week.
So I'm looking for a credit card and it needs a high limit (~5k). My first choice was Amex green because it was a charge card and not a credit card, it was my style. But I only make about 13k a year and that doesn't make their cutoff. They told me it wouldn't disqualify me for sure but I don't think it is worth the chance of being denied then having to be credit checked AGAIN for the Blue Cash. It is stupid they can't just use the old credit check for another card, but they can't. I also want to get a Visa credit card through my local credit union since I can pay it off at the desk. However my limit would be $500-1,500 somewhere in there. They only gave my mom 2k limit and her credit is PERFECT.
I want to use it this week to make a 5k purchase and pay it off at the end of the month, so I would like a good limit so I can use it if I have to.
-How much will my credit go down now since I had one check for a loan, then another for a CC I want... All within a month?
-Should I get the Citi bank Mastercard instead? Will I be approved? (If so which one? (Dividend, Dividend college, or other?)
-Should I apply for the card BEFORE I actually take out the loan or after?
-Can they give me the CC # over the phone so I can use it that day and not wait on the plastic?
Hope all that made sense, it is a little cluttered. Let me know if you need anymore information.
Please advise.
Thanks for your help and I look forward to your thoughts and recommendations!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: ious
Posted: Tue Nov 23, 2004 11:23 am
Post subject: Need Credit Card For Purchases and to Build Credit
One thing that is not helping your score is you're paying your bills off too soon. You need to build some history which means letting your bills go for atleast 12 months, 24 is preferably. You can leave a small balance on your cards but you need to let them run for a longer period of time to build history which helps your fico score.
Author:
Posted: Tue Nov 23, 2004 1:56 pm
Post subject: Need Credit Card For Purchases and to Build Credit
Curious wrote:
One thing that is not helping your score is you're paying your bills off too soon. You need to build some history which means letting your bills go for atleast 12 months, 24 is preferably. You can leave a small balance on your cards but you need to let them run for a longer period of time to build history which helps your fico score.
I have to say that is the most jacked up thing about credit scores. so stupid if you ask me
So what about these credit cards? I'm going to apply for one...
Reward points that I could translate to cash at Best buy or some place with video games or computer stuff would be cool but if the cash back was about the same that would be good too.
Author: Rhin0
Posted: Tue Nov 23, 2004 3:51 pm
Post subject: Need Credit Card For Purchases and to Build Credit
Using the free offer through the site and a recommendation by Curtis I checked my Experian Credit score and I have a score of 762- Excellent
so i'm at:
Equifax- 729
Experian- 762 - Excellent
Transunion- 671 - Poor-Fair (Ouch)
My Transunion score is bad!
And guys, that gas card I have is a Citi one... Will that help me get a card with them?
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 10:09 PM
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