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Established Member
Posts: 14
Registered: ‎10-12-2012
0

Advice for Future

[ Edited ]

Currently new to credit and wondering how I should go about improving.

 

Credit Cards

Discover Student (500CL) - About to hit 6 Months (39% Util)

 

Student Loans

unSub - 3750 (Due to start payments 2015)

 

Inquires

Two - (Within this last year)

 

Scores

EXP-713 

EQ-725 (FICO 700)

TU- 707 (FICO 690)

 

I'm currently studying Abroad in Japan so not really using my credit card other then book purchases currently. But before coming I used it quite a bit.

 

Questions: I'd like to ask for a CLI from discover but should I lower my Utilization first? Would is be reasonable to ask for a 1000$ increase maybe more? Does the online application for a CLI become available once you hit 6 months?

 

Also, once returning to the USA in Feb I'd like to get another card or two. Recommendations? Something with Food and Gas benefits would be good!

 

Thanks

Valued Contributor
Posts: 3,099
Registered: ‎10-02-2012
0

Re: Advice for Future

You should get your utilization reported at less than 10%. CLI of $1000 would be a reasonable request

 

Who do you bank with?

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


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Established Member
Posts: 14
Registered: ‎10-12-2012
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Re: Advice for Future

Currently bank PNC.

 

I'll work on the Utilization 

Valued Contributor
Posts: 3,099
Registered: ‎10-02-2012
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Re: Advice for Future

Once you hit the 6 month mark on your current card. Talk to your bank and see if you can get a card from them.

 

Maybe this one:

https://www.pnc.com/webapp/unsec/Blank.do?siteArea=/pnccorp/PNC/Home/Personal/Credit+Cards/CC/PNC+po...

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


     $17k       $8.5K          Closed          $19k      $6.5k        $24.2k        Closed         $5k       Closed     $8.5k        Closed      @2.49%
Established Member
Posts: 14
Registered: ‎10-12-2012
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Re: Advice for Future

I've looked into them previously when I was first trying to establish credit (None at the time, Denied). Would 6 months of good history be enough for that card? Any others you may know

 

I really hope Discover will up my CL as I'd like more buffer. My 6th stament already cut but I don't hit 6 months until the 22nd.

Frequent Contributor
Posts: 411
Registered: ‎05-01-2010
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Re: Advice for Future


PaPaBrad wrote:

I've looked into them previously when I was first trying to establish credit (None at the time, Denied). Would 6 months of good history be enough for that card? Any others you may know

 

It would be best to ask PNC this question. I'm sure it also depends on how your cashflow looks in your account. I'd imagine they take that into account as well since you bank with them.

 

I really hope Discover will up my CL as I'd like more buffer. My 6th stament already cut but I don't hit 6 months until the 22nd.

 

As for food/gas benefits, the Discover More is good during the 5% months, the Chase Freedom could be a good option if there isn't too much overlap (I'd wait and see how their calendars look for 2013). Other than that, for a good gas/food card that has rewards all year round, I think maybe once you have a year of history you could get a Amex BCE.


 

Valued Contributor
Posts: 3,099
Registered: ‎10-02-2012
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Re: Advice for Future

[ Edited ]

I think if you have good cash flow, the best place to start building credit is your bank. Try them first before you do anything else. It might be a process to get approved. You will have to come at it from an angle like "I want to keep my business here, but if you can't approve me for this card. I will have to take my business elsewhere." A banker should be able to call underwriting and do something for you.

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


     $17k       $8.5K          Closed          $19k      $6.5k        $24.2k        Closed         $5k       Closed     $8.5k        Closed      @2.49%
Established Member
Posts: 14
Registered: ‎10-12-2012
0

Re: Advice for Future

Thats a good point. I emailed my bank to see what they are looking for.

 

Also thinking about applying for Walmart and Amazon. I shop quite a bit at amazon but I'd like the Visa cause it can be used anywhere.. Hear that one may be hard to get with a small credit history (6 Months) Reccomendations? 

Established Member
Posts: 14
Registered: ‎10-12-2012
0

Re: Advice for Future

[ Edited ]

I applied but was Denied for the PNC Visa. Called in and she said she will put it up for appeal becuase of my history and too call again in two days. I wonder if this will allow me to explain or its just another overview. They pulled my credit report that had no hard pull in the last year so maybe that will help. My history is short which is the main factor I assume. 6 Months

Contributor
Posts: 567
Registered: ‎10-04-2012
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Re: Advice for Future


PaPaBrad wrote:

I applied but was Denied for the PNC Visa. Called in and she said she will put it up for appeal becuase of my history and too call again in two days. I wonder if this will allow me to explain or its just another overview. They pulled my credit report that had no hard pull in the last year so maybe that will help. My history is short which is the main factor I assume. 6 Months


PNC tends to be pretty conservative when it comes to lending, even when dealing with long-term customers. Have you considered joining a credit union?

 

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