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Since a Cap1 is allready on her report, I would suggest a cap1 card, then wait 6 months, and go for Chase freedom, clean report, 6 months of history will probably get her in the door, I would also recomend AMEX PRG, buy a pack of gum, pay it off put it away, just to lock in membership year, set a calendar event for 11 months later to have her call and cancel it unless she has work/lifestyle requirements that make the card make sense, lock the card up in a safe deposit box or a safe so she can use the number when she is ready to be an active AMEX member for backdating goodness, She could also consider a Discover IT at some point.
We bank at Regions. Good bank as far as bank accounts (in our experience) but their credit cards don't seem to get rave reviews from what I read so I think they are out. I will probably advise her to either do DiscoverIT or stick with Cap One since she will have an established cc relationship with them. The card that I added her on has a 3 year excellent credit history on it, so she will already have a good advantage. I remember I had to start from the very very very bottom and build my way up by myself so hopefully she won't have to go through as much credit file building as I did.
@Tonydga wrote:We bank at Regions. Good bank as far as bank accounts (in our experience) but their credit cards don't seem to get rave reviews from what I read so I think they are out. I will probably advise her to either do DiscoverIT or stick with Cap One since she will have an established cc relationship with them. The card that I added her on has a 3 year excellent credit history on it, so she will already have a good advantage. I remember I had to start from the very very very bottom and build my way up by myself so hopefully she won't have to go through as much credit file building as I did.
I would agree. Regions doesn't really have too much of great CC products, let alone their stringent qualification criteria.
@Tonydga wrote:
I do have a question....will her $4k annual salary be an issue all things above considered?
The income may come into play with some lenders but if she is still currently a student, then she could likely try the student version of the Discover CC down the road, Citi also offers a couple student CCs as well.