Getting a credit card for a student with no "technical" income

[adamcc91]

Hello everyone, I am a senior in college and planning on graduating in May.  I am about to be engaged to a wonderful woman, and we would like to buy a house when I come home from college.  I would like to build my credit up, but currently the only card I can get is one through capital one where you have to make a deposit to have the card.  (I currently have a 500 limit)  

Is there a way to get a better credit card without proof of income?  I am on allowance, and I have the money to pay my bills.   I just feel like constantly maxing out this card is having a negative effect on my credit.  

Suggestions?

[user5387]

Can you increase the limit on the card, or get other secured cards with higher limits?

Can you pay multiple times a month, so that the card does not appear maxed-out on your reports?  If you pay just before the statement date, will that work?

[adamcc91]

Well, any time I want the limit to go up, I have to pay more towards the deposit.  Do you think making a bunch of small payments would help it that much?  I don't know what other kind of card to try for..I heard that if I apply for cards and can't get them doesn't that hurt my score?

[wagsk1]

My son who is also a Sr. in college was just approved for the discover it card with very little income to show for it. maybe look into that?

[user5387]

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@adamcc91 wrote:

Well, any time I want the limit to go up, I have to pay more towards the deposit.  Do you think making a bunch of small payments would help it that much?  I don't know what other kind of card to try for..I heard that if I apply for cards and can't get them doesn't that hurt my score?

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All I'm saying is that you can control what your reported utilization looks like, the same as with any card.

If you let 450/500 report, that looks a lot worse than letting 25/500 report.  Utilization has a big effect on scores.

If my credit was bad, or I was just starting out, I think I would get several secured cards, and treat them like regular ones, carefully managing the utilization and so on.

[09Lexie]

Welcome to the forum. I would suggest the BoA secured card. It graduates and you can add to the deposit. Since your parents are helping you, ask them to add you as an AU on one if their cc's. Keep in mind, the card should have low util, no baddies and some aging.

All you need is 2-3 cc's for your CR's.

[adamcc91]

Forgive me for sounding greedy, but a secured card from BoA, i'd have to put a deposit on it, which means Id then have deposit on two cards...thats a good amount of money tied up just to use credit cards

[09Lexie]

You aren't sounding greedy. Without a real source if income, you are asking a lot of a lender. The secured card would give you the credit score you need, profile and history so that when you are in your own and want to buy a house you have established yourself.

The other alternative is the AU route or ask your parents to co-sign an application.