04-20-2009 04:12 PM
I thought I would share a bit of good news. (the least I can do with all of the great info I have found here)
So I am new to credit and I currently have 4 TL's
Citi Student Card - 0/840 - previous balance $94.00
Macys - 0/350
Capital One - 0/500
Victoria Secret - 0/350
I was looking to add another Prime card to my accounts and decided to apply for a B of A Student card last night. My initial plan was to wait for another 6 months or so to let my AAofA mature (currently 5 months) so that I can be approved for a Discover or Amex card but for some reason I was feeling lucky.
Long story short, I hit the submit button and received that dreaded messagae "we are processing your application, you will be notified in 7-10 days click on this link to check the status...Well needless to say I thought here we go, I just wasted an inquiry for a denial! I decided to check the status anyway and to my surprise there it was Congradulations! You have been approved for $700! in big red text! I could not believe it!
I opened a checkings and savings account with them in July 08 and at the time they offered me a secured credit card ($99 deposit and a credit line of 500) I declined it at the time because I already had the Citi card.
I thought I would share this message to all of the newbies like myself. There is hope for young people trying to establish credit! If you are student and trying to establish credit for the first time, I would definately recommend the Citi Student Card!
04-20-2009 04:17 PM
04-20-2009 04:21 PM
04-20-2009 04:48 PM
Oh, I justed wanted to add that BofA did not do a hard pull on my credit report! Is that normal? I expected to see something hit my report by now.
I use three credit monitoring services and have not received any alerts. I also ran my 2 of my credit reports...no inquiries.
04-20-2009 05:05 PM
04-20-2009 05:33 PM
I was thinking the exact same thing. I will keep checking...I wonder if it could be because I already have accounts with them. Do you have any other accounts with BofA?
Also, have often do they provide CLI's?
04-20-2009 05:48 PM
04-20-2009 05:55 PM
Thanks for the info! Hopefully one day I will have a CC with a limit over 1,000! lol
Any suggestions on how to get approved for the Discover Student card? It advertises as a credit building card, but I have not had any luck with them yet.
04-20-2009 06:56 PM
Nice job! You'll be surprised how soon a $1K credit limit will look pretty small to you. You have two prime cards that will grow with you. That's a great start. Just make sure you make your payments on time every time!
Best of luck!
04-20-2009 07:14 PM
Thanks! It feels really good especially knowing that I have been doing this on my own! My mom offered to help me establish credit by adding me to some of her cards, but she also taught me that I would appreciate things in life much better if I work hard instead of having things handed to me, so I decided to go that route. (but I still always get advice from her!) My goals are to be debt free and have credit scores in the high 700's so that I can buy my first car without a co-signer.
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