Reply
Established Member
Posts: 22
Registered: ‎02-05-2013
0

Hubby looking for a CC

Hey, everyone! As the title suggest, my hubby is looking for a CC. Here's his credit history:

1. Current credit score is: 712
2. Only debt he has is his car loan that will be paid off in 1 year.
3. He's never had a CC before. His main reason? The APR is too high.

The only CC that he's interested in is the USAA CCs. We both have USAA accounts, both active duty military. So far, I know that he's in good standing with USAA, but he's looking at other CCs as well - only reason why he prefers the USAA CCs is because of the low APR.

Non-USAA CCs he's interested in: AMEX Green, AMEX BCE, Chase Freedom, Slate, and Discover It.

Any suggestions or advise?
Will be gardening for a while.
AMEX BCE - 9K, AMEX Delta - 3.5K, Discover - 2K,
Cap 1 - 700 (closing soon), CSP - 5K.
MyFico TU: 743, MyFico EQ: 751. Credit Sesame EX: 771.
Target score: 800
Valued Contributor
Posts: 2,373
Registered: ‎03-15-2012
0

Re: Hubby looking for a CC

Sounds like an app to USAA is a sure thing. I'd use that as a start point. It'll give you a rough idea of where the limits start, and once the first card hits a certain age, others will compete with limits/APR's

Valued Contributor
Posts: 1,597
Registered: ‎09-15-2012
0

Re: Hubby looking for a CC

My first advice is: don't pay interest. The APR won't be a problem if you never carry a balance. Something your husband may not realize is that interest is not charged immediately on all purchases, so APR won't matter if you pay in full.

But secondly, if you feel comfortable with USAA feel free to give them a try. But remember, not having any previous CC history is a problem for many lenders and he may need to start somewhere else. Before I had existing CCs only Capital One would approve me, but of course I never tried USAA. Of course, being active military could improve chances too.

Keep us updated!

In My Wallet: Amex BCP (12/12) $32,000, Chase Freedom (12/12) $16,500, Cap1 Quicksilver (6/12) $14,000, Barclaycard Rewards (5/13) $10,500, Citi Forward (12/12) $9,600

Last App: April 2, 2014
Regular Contributor
Posts: 203
Registered: ‎07-27-2012
0

Re: Hubby looking for a CC

If he's interested in  AMEX Green then that means he's willing to pay the card off in full each month. So, why should the APR matter?

 

Anyway, go with USAA since you have an account. Then in at least 6 months, try for another account. I think AMEX is great, especially for down the road with backdating. 

Current Cards: AMEX Everyday ($10k), AMEX BCE ($10.2k), Arrival ($7.5k), Merrill+ ($7.5k), Freedom ($5k), Double Cash ($5k)

1/15 - 792 Fico EX (AMEX) - In garden indefinitely.
Frequent Contributor
Posts: 473
Registered: ‎04-09-2012
0

Re: Hubby looking for a CC

Since he is a member, he should get a credit card through USAA.  Since credit card companies like to see some history, he should hang onto it for 6 months before apping for anything else, then I say go for AMEX, Chase and Discover.  Once he has had those for 6 months, he should be in really good shape credit-wise. 

 

Like someone else mentioned, APR doesn't mean anything until you carry a balance and paying in full every month will take care of that. 

Barclays USAir World MC $8300 - DCU $7500 - USAA World MC $7000 - PayPal Extras MC (GE) $5500 - Chase Saphire Preferred $5000 - Discover It $6000 - Barclays Sallie May $2700 - Chase Freedom $1000 - Capital One $8500 (business) - store cards ranging from $500-$9500
Established Member
Posts: 22
Registered: ‎02-05-2013
0

Re: Hubby looking for a CC

Thanks everyone! I will let him know as soon as I see him at home! Yeah, I did ask him about the APR...and I told him also in our previous convo that as long as he PIF, that there's no reason for him to worry about the APR. He's good with his money, and we split everything 50/50, we do not have a lot of debt - so, financially we are good to go. But, he has expressed interest in improving his credit score, so, I'm doing what I can to help. He is an AU for my Discover and AMEX Delta CC.

Will be gardening for a while.
AMEX BCE - 9K, AMEX Delta - 3.5K, Discover - 2K,
Cap 1 - 700 (closing soon), CSP - 5K.
MyFico TU: 743, MyFico EQ: 751. Credit Sesame EX: 771.
Target score: 800
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.