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Approved!! and No longer "Apprehensive" about applying for credit cards..Cap1

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Anonymous
Not applicable

Approved!! and No longer "Apprehensive" about applying for credit cards..Cap1

So, today I finally bit the bullet and applied online for a credit card, I went with the Capital One Student Rewards.

I was attracted to it because there was no annual fee and the rewards seem cool. The APR is really high (24.9%) but this did not so much matter to me as I do not plan on carrying a balance..... I want to build credit responsibly...

 

Well, I was approved instantly!!!! YAY! My first credit card.. (500 CL) .. It will be arriving in 7-10 business days.

 

I was apprehensive because I have a very limited credit history(literally, only a student loan, in good standing, on my report), but I do have a job and a checking/savings account.. However my credit is so limited EX does not even give me a score..

 

Thank you Capital One and thank you for all of the advice myfico!!

 

Current: EX:? / TU: 690 / EQ: 690

Goal:      To infinity and beyond!

 

Message 1 of 6
5 REPLIES 5
Anonymous
Not applicable

Re: Approved!! and No longer "Apprehensive" about applying for credit cards..Cap1

well good job on getting approved, yeah with an APR that high I wouldn't leave anymore than $20 on it. Good luck on your credit building journey

Message 2 of 6
Tazman81
Established Contributor

Re: Approved!! and No longer "Apprehensive" about applying for credit cards..Cap1


@Anonymous wrote:

So, today I finally bit the bullet and applied online for a credit card, I went with the Capital One Student Rewards.

I was attracted to it because there was no annual fee and the rewards seem cool. The APR is really high (24.9%) but this did not so much matter to me as I do not plan on carrying a balance..... I want to build credit responsibly...

 

Well, I was approved instantly!!!! YAY! My first credit card.. (500 CL) .. It will be arriving in 7-10 business days.

 

I was apprehensive because I have a very limited credit history(literally, only a student loan, in good standing, on my report), but I do have a job and a checking/savings account.. However my credit is so limited EX does not even give me a score..

 

Thank you Capital One and thank you for all of the advice myfico!!

 

Current: EX:? / TU: 690 / EQ: 690

Goal:      To infinity and beyond!

 


Congratz on your approval.  Who do you bank with and have you been banking with them for a while?  They may be able to provide you a credit card with a lower APR if need be.


Current Score: Eq: 823 Tu: 830
Goal Score: Eq: 850 Tu: 850

Wallet: PenFed Power Cash 50k | AMEX Blue Cash (AU) 49.5k | Cap One QSMC 26.5k | AMEX Platinum NPSL | USAA Signature Visa 25k
Message 3 of 6
Anonymous
Not applicable

Re: Approved!! and No longer "Apprehensive" about applying for credit cards..Cap1

Thanks!

 

TD Bank. I have never heard anything good or bad about them, have you?  I have been with them for about 5 yrs.. always maintain a balance, no over drafts.. ..

I thought about applying with them, but I did not know of the success rate of approvals. The APR is not such a big problem for me.  I am just going to spend and repay asap just to build credit.. Then I will go after another card with a better APR. I hear AMEX is the card to get...true?

Message 4 of 6
Creditaddict
Legendary Contributor

Re: Approved!! and No longer "Apprehensive" about applying for credit cards..Cap1

American Express Zync might be an option to you also and way better Smiley Happy

Message 5 of 6
MarineVietVet
Moderator Emeritus

Re: Approved!! and No longer "Apprehensive" about applying for credit cards..Cap1

 


@Anonymous wrote:

So, today I finally bit the bullet and applied online for a credit card, I went with the Capital One Student Rewards.

I was attracted to it because there was no annual fee and the rewards seem cool. The APR is really high (24.9%) but this did not so much matter to me as I do not plan on carrying a balance..... I want to build credit responsibly...

 

Well, I was approved instantly!!!! YAY! My first credit card.. (500 CL) .. It will be arriving in 7-10 business days.

 

I was apprehensive because I have a very limited credit history(literally, only a student loan, in good standing, on my report), but I do have a job and a checking/savings account.. However my credit is so limited EX does not even give me a score..

 

Thank you Capital One and thank you for all of the advice myfico!!

 

Current: EX:? / TU: 690 / EQ: 690

Goal:      To infinity and beyond!

 


 

Congratulations. That's a good place to start. I know many people trash Cap 1 but they gave me credit in the middle of my BK when no one else would and they are now my oldest card at 12 years.

 

The APR means nothing. Use it wisely and never carry a balance and the rate could be 100% and it won't matter.

 

 

 

From a BK years ago to:
EX - 9/09 pulled by lender 802
EQ - 7/06-663, 3/10-800
TU - 8/10-772

You can do the same thing with hard work


Message 6 of 6
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