Helping Brother Get 1st Card

[Anonymous]

Hello all! I am trying to help my little brother get his first credit card. He tried Cap 1 QS1, denied and Discover Student, denied because of inquiries after the Cap 1. This was 3 months ago.

I just added him as an AU on my Kohl's card, $0/1500, and it will report on his credit report June 5th.

Once that reports, his scores should see a nice bump (though obviously taken with a grain of salt as he is an AU), but after that, what card would you recommend he try to apply for? He just finished his 2nd year of college and he wants to start developing good payment history. He does work, earning about $10k a year.

Any help is greatly appreciated!

[Anonymous]

What are his current FICO08 scores?

[Anonymous]

ABCD2199, if this is the brother's first card he probably wouldn't have a fico yet. It's my understanding that Fico 8 ignores AU accounts anyway. As well as some other algorithms such as the one Chase uses.

OP, personally I am a firm believer in secured cards. The Discover secured is a great one. No annual fee and graduation starting at 7 months.

[Anonymous]

I was thinking a secured card may be the way to go as well, I will have him look at the secured card to get a start with Discover! Thanks I appreciate it!

[medicgrrl]

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@Anonymous wrote:
I was thinking a secured card may be the way to go as well, I will have him look at the secured card to get a start with Discover! Thanks I appreciate it!

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Have him check with whoever he banks with.  My oldest son opened his first credit account by going thru the credit union he had his checking/savings with.  It was only a $500 SL but it was unsecured.

[ls2016]

My daughter's very first card/first account was a Capital One Platinum card with a $300 limit when she was 18 (just last year). She didn't receive a FICO score until 6 months later, then she applied for the Discover student card and was approved for $500 as well.

Her Capital One Platinum card is now @ $750, haven't yet approached a year of having the card, but product changed (PCed) it to a regular Quicksilver card at the 3 month mark for the cash back rewards. Her Discover card is 4 months old and now sits at $1500.

Income: $15000, clean, very thin file, 3-4 inquiries on each credit report

Fico 8 scores: Ex. 731, Tu. 722, Eq. 722

She currently has 4 student loans and 4 credit card accounts in her own name (the 2 listed above, in addition to Chase Freedom ($500) and another Capital One Platinum ($500). Her average age of account (AAoA) is 6 months old, with her oldest account being 10 months old.

Hope this information helps!!!!