Advice for daughter (age 19)

[Anonymous]

OK - my poor child has a very limited file - I don't even know if she really has a score.

Only credit to her name

Kay Jewelry - like $300 and

American eagle  $1700.

I want to get her a REAL card (she borrowed mine just to pay for her car plates online).   Any suggestions???   I was thinking Discover Student card (hoping to go unsecured route if possible.....) but don't really know what other options are out there for her - I can't prequal her since she isn't 21.   Yes I know I can AU her on my Amex or other cards -but she doesn't want to go that way.  She wants to start getting stuff on her own. (she plans to move out in about 6 months - so she knows she needs to build up)

[creditguy]

Well you mentioned the Discover student card, so I assume she is a student, if so that's not a bad way to go. Check out student cards offered by Cap One or BofA. You could always add her as an AU to your Amex anyway on top of what she may get on her own to help build her history and scores. 

[Anonymous]

Try Capital One platinum & Quicksilver One, good chance she will start off with a $3-$500 starting limit.

[Anonymous]

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@creditguy wrote:

Well you mentioned the Discover student card, so I assume she is a student, if so that's not a bad way to go. Check out student cards offered by Cap One or BofA. You could always add her as an AU to your Amex anyway on top of what she may get on her own to help build her history and scores. 

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Yeah - she is in college - lives at home - limited income obviously while in school.    I thought about it -but wanted to see where/if she can get something on her own. 

I wasn't sure who else out there had student type cards......

[Anonymous]

Definitely add her as an AU to cards that have good history and if possible, one's that were opened many years ago. It definitely helped me get the cards I have now since they appear on my credit report and contribute greatly to my score and AAoA.

I'd recommend that she apply for the Discover student card also, or maybe even the Chase freedom to start building her relationship with them.

[Anonymous]

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@Anonymous wrote:

Definitely add her as an AU to cards that have good history and if possible, one's that were opened many years ago. It definitely helped me get the cards I have now since they appear on my credit report and contribute greatly to my score and AAoA.

I'd recommend that she apply for the Discover student card also, or maybe even the Chase freedom to start building her relationship with them.

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None of my cards have much history - heck - some of my cards haven't even reported yet -  I'm in a rebuilding phase and honestly even adding her to my cards won't really help her for AAoA. 

[Anonymous]

A CU card with no frills and low APR would be a good starter card. Alternately, citi simplicity was my first, and they forgive your first missed payment. Discover too.

Im not a fan of first credit card = rewards. The temptation to over spend is real.

Cap One, Discover, Bank of America, and local CUs have the best histories of being good to credit newbies, although BofA may want a deposit.

[Anonymous]

Thanks -

I'll have her look at CapOne as well as Discover.   If that fails she can try to local CU or our local bank (smaller hometown type bank) where she has her accounts.

She's young and I don't want to see her get into any trouble with the accounts. BUT I want her to start building a history and take care of it.  Not end up like her  mom who's credit went to heck after a divorce and living on cards and dropped scores from 840 to less than 500 and couldn't even get a payday loan and now is rebuilding.....slowly...... 

Trying to teach her from my mistakes.

[ddemari]

She can try for a cap1 journey visa. That can be converted into a quicksilver visa down the road or she can just for a qs now but maybe with limited income journey visa might be a good option.

[SouthJamaica]

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@ddemari wrote:
She can try for a cap1 journey visa. That can be converted into a quicksilver visa down the road or she can just for a qs now but maybe with limited income journey visa might be a good option.

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Cap One is the place for her to start