Increasing My Chances

[Jungook]

Will paying my federal student loans help me get my first credit card?

They are deferred until I graduate in 4 years so will it matter that I make a payment or no?

Thanks.

[Creditaddict]

No, How long have you had student loans? have you generated a Fico Credit report and score yet?

Have you tried applying for any credit cards? with if so?

[Jungook]

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@Creditaddict wrote:

No, How long have you had student loans? have you generated a Fico Credit report and score yet?

Have you tried applying for any credit cards? with if so?

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I've only had them for about a month and I'm not sure if I have generated either yet.

I have not tried applying for any cards yet.

[Creditaddict]

go to capitalone.com and "Check for pre-qual. offers" and post back if you get an offer... Now what you are looking for is congradulations or we found this offer or something... not we did not find an offer but you might like these cards.

you can also check citicards.com and do the same thing... again do not apply for anything that you don't get a specific offer for... read it carefully.

[Jungook]

Both sites said that they couldn't match my record to a card.

Are my student loans not reporting yet?

[Creditaddict]

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@Jungook wrote:

Both sites said that they couldn't match my record to a card.

Are my student loans not reporting yet?

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if it's only been a month it's very possible they are not reporting. and if they are the first thing you have ever had in your name credit wise even if they are reporting you will not generate a credit score for 6 months so you might not see offers before then.

Who do you bank with?

[Jungook]

I bank with a community bank in my town.

I might open a Chase student account to build a relationship with them.

[daybreakgonesXe]

Jungook, I highly recommend you read through this "credit builder handbook": http://ficoforums.myfico.com/t5/Credit-Cards/quot-Start-From-Scratch-quot-Credit-Builders-Handbook/m...

You may be able to start out with a Capital One Journey, or depending on who you bank with, get a student card; if not, a secured card could be an option, or you can wait it out until you generate a FICO!

Best of luck