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6 months of good secured card history. What next?

Established Member

6 months of good secured card history. What next?

My broher has started building his history few months ago when i told him of the importance of it

and this where he's at and was asking for me for advice on his next step.

 

Boa Secured   - 500cl - 7 months.

us bank secur  - 300cl-  6 months.

wells F secured - 300cl-  6 months

kohls joint/AU    - 500cl - 3yr 10 mo   (He was first a AU on his wife's kohls card but said he sent in papers for joint) Does this add all of his wife's history?

 

no baddies. no lates. only positive info

income 60k yr/  utilz is about 6%

only 1 inq on equifax. no other inqs.

 

 Where can he go from here? which prime cards are obtainable?

 

 

Message 1 of 11
10 REPLIES
Valued Contributor

Re: 6 months of good secured card history. What next?


uroosa1 wrote:

My broher has started building his history few months ago when i told him of the importance of it

and this where he's at and was asking for me for advice on his next step.

 

Boa Secured   - 500cl - 7 months.

us bank secur  - 300cl-  6 months.

wells F secured - 300cl-  6 months

kohls joint/AU    - 500cl - 3yr 10 mo   (He was first a AU on his wife's kohls card but said he sent in papers for joint) Does this add all of his wife's history?

 

no baddies. no lates. only positive info

income 60k yr/  utilz is about 6%

only 1 inq on equifax. no other inqs.

 

 Where can he go from here? which prime cards are obtainable?

 

 


Try GE backed card.

 

My first choice would be Wal-Mart Credit Card. It gives free TU08 score and will grow with you.

 

Edit: Who do you bank with? Try them also.

 

2013 Approvals: Discover IT - 3/1, Amex BCE - 3/4, CSP - 5/4, Barclay Ring - 6/12, BoA Privileges Cash - 6/27, Citi TY Preferred - 8/6, OCCU Duck - 11/4, USBank (Cash+) - 11/22, Wells Fargo - 12/21, Nordstrom - 12/29

12/19/2013, $100k+ Available Credit. Total Util: 0-1%
Message 2 of 11
Valued Contributor

Re: 6 months of good secured card history. What next?

Hmm. He can go for some more store cards if he likes, but for many prime cards 6 months is still too soon...you're risking denials, recons, or toy limits. I would recommend a Discover though, based on his credit history! They're excellent at reconning or offering a different product if he gets denied due to short history!


Quicksilver WMC $20k | JCPenney Platinum $10k | Drive for Five $800 | Freedom VS $5k | TD Cash VS $5k | CFU VS $14.8k | Blue Sky $13.7k | IT $28k | SavingStar $14.8k | BCE $11.3k | Macy's AMEX $7.2k | BuyPower WEMC $7.5k | CSR VI $13.3k | Diamond Preferred $6.5k FICOS: EX 775 EQ 764 TU 759 VantageScore 3.0: EX 759 EQ 757 TU 762
Message 3 of 11
Senior Contributor

Re: 6 months of good secured card history. What next?

6 more months (or more) is next!   

 

Only the Kohl's history is counted in his history, nothing else of his wifes.  

Message 4 of 11
Established Member

Re: 6 months of good secured card history. What next?

i meant does kohl add the whole 3yrs of history if recently filed for joint or just the last few months.

 

Also with it being joint it is alot better than AU rigjt?

Message 5 of 11
Senior Contributor

Re: 6 months of good secured card history. What next?


uroosa1 wrote:

i meant does kohl add the whole 3yrs of history if recently filed for joint or just the last few months.

 

Also with it being joint it is alot better than AU rigjt?


Yes and Yes.

Message 6 of 11
Established Contributor

Re: 6 months of good secured card history. What next?

How did he managed to get 3 secured CC with only 1 inquiry? Those cards are only 6-7 months old too


DCU Platinum: 4000 - Discover IT: 11000 - Walmart: 5000 - AMEX BCP: 18000 - Chase Freedom VS: 5000
in the garden since 1/24/14 - #GARDENSTRONG
Message 7 of 11
Frequent Contributor

Re: 6 months of good secured card history. What next?

You didn't mention scores. I'd pull reports and scores, just to make sure everything is as clean as you make it sound.



09/30/2017 - EX 811 (Credit Scorecard EX FICO® Score 8, range 300-850)
11/20/2017 - TU 842 (Discover TU FICO® Score 8, range 300-850)
10/24/2017 - EQ 845 (Citi EQ FICO® Bankcard Score 8, range 250-900)
GOAL - 800! - App free since 11/22/2017
Message 8 of 11
Valued Contributor

Re: 6 months of good secured card history. What next?


brother7 wrote:

You didn't mention scores. I'd pull reports and scores, just to make sure everything is as clean as you make it sound.


+1

Also add more money 1k --> 3k to his secured credit card. Usually credit card company like to see how you handle big money. I suggest garden more for another 6 months increase current limit then apps for some meanful CC. You dont want to end up get some card that you dont want it then realized you going to cancel them soon. Do some research for some interest card that best fit him.


Starting Score: 560
Current Score: 748 Wishlist: CSP, Simply Cash, SPG, BOLD, INK, United MP,
Goal Score: 800


Walmart: 10k |Usaa: 8k|BCE: 13k| Amex: NSPL|Dis: 9.4k|Cap: 5.5k|CAP: 2k|CSP: 13.4k| Pen:4.5k

Message 9 of 11
Moderator Emeritus

Re: 6 months of good secured card history. What next?

i would do as others have suggested and have him start with pulling his FREE Credit Report's from annualcreditreport.com. They tend to have more info on them than ones from a 3rd party. The Credit Reports from annualcreditreport.com, come directly from each of the CRA's. Your brother can pull 1 Free Credit Report from TU, EQ and EX every 12 months.

tell him to save his money and Don't Buy the Scores, they are what we call FAKO's.

From there he can make sure there are no baddies out there. Also; he could get a secured loan and / or a wal mart card or old navy card at this point... I recommend those two because they are fairly lenient; plus they can be upgraded to major credit card versions of the store card.

He may want to pull his TU scores from here also.

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



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Message 10 of 11