Credit Card

[Anonymous]

Hello, I am going to be in the market for a credit card - currently, I have zero open credit card accounts...

When applying what will they look at in me to give me the best rates... Do they look at all 3 reports or only Experian? I am in the NYC area...

If I have had a card previously and had a late payment, will they hold it against me?  Thanks

Current Fico Scores - pulled by mortgage lender today

Experian 668

Equifax  733

Transunion 775

[LilloEsquilo]

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@Anonymous wrote:

Hello, I am going to be in the market for a credit card - currently, I have zero open credit card accounts...

When applying what will they look at in me to give me the best rates... Do they look at all 3 reports or only Experian? I am in the NYC area...

If I have had a card previously and had a late payment, will they hold it against me?  Thanks

Current Fico Scores - pulled by mortgage lender today

Experian 668

Equifax  733

Transunion 775

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Your scores, and your history (which will make it tougher since you don't currently have accounts) mostly. Since you don't have history right now, and no baddies apparently, you may be declined for some top tier cards and need to do a recon. Citi for example requires that you have an open revolving credit line with a balance on it to approve you so don't waste an inquiry on them. Barclays will decline you but you can get recon'd I'm sure.

AMEX is probably a waste as well until you get 6 months or so of revolving accounts. You should be able to get prime cards, but I would avoid Chase/Amex/Citi until you have some history. Apply with Barclay's and recon, or anything GE, or (choke) Cap one Prime and put up with them for 6 months before you move on.

Just what I would suggest based on what you said I hope it helps.

[Anonymous]

Hi, thank you.  I have a history but with closed accounts, I have a 30 day late on HSBC (closed account) which I am trying to remove, and also two 30 days late in 2008 on a closed Cap One account.  

I am an authorized user on a Chase Freedom which is open revolving, not sure if they look at that....

And as far as, it seems like Experian is the bureau in my area that is always getting the hard inquiries... should I wait till I get this score higher - it is my lowest one...

at 668

thanks!

[Guava]

How long ago were your 30-day lates? If it's ~5 yrs then their negative effect on your score are pretty negligible now. Being an AU on the Chase Freedom does help your case (if the Freedom account is clean of baddies), it also gives you some history.

[LS2982]

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@Anonymous wrote:

Hello, I am going to be in the market for a credit card - currently, I have zero open credit card accounts...

When applying what will they look at in me to give me the best rates... Do they look at all 3 reports or only Experian? I am in the NYC area...

If I have had a card previously and had a late payment, will they hold it against me?  Thanks

Current Fico Scores - pulled by mortgage lender today

Experian 668

Equifax  733

Transunion 775

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I would try for a unsecured Cap1 card, or if you have a local CU try them.