Limited Credit History, How to Get Started

[larinoriani]

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@Anonymous wrote:

What do you mean by a "First Premier" card? Are you referring to the Zync card?

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First Premier is a builder/re-builder credit card, know for its high fees,http://www.firstpremier.com/ but sometimes is the only way to go. As said before, secured cards are better options.

What I mean is, Amex is considered a "Prime" issuer, which usually require more history than just being an Authorized User. But seeing Zync approvals all over the place lately who knows. The only way you'll know is applying for it, and go from there...

[JM-AM]

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@Anonymous wrote:

Ahh, I see, thanks. But what do you think about trying for a Zync card as a first option? Do you think there's a chance she could get approved for that right away with her limited credit history? If so, is that a decent first step?

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If her reports are now showing a score and she is AU on your accounts she has a chance to apply for ZYNC as long as your CC's have been open for awhile. I wouldn't rush it if you didn't have to as her being an AU on your cards will bring her scores up regardless if she has her own cards.

[dizzier]

I think what everyone is says is that they don't know if it will work.

On the one hand, she has a relationship with AMEX through you and decent starting scores are 645. On the other hand, she has no credit of her own, and the two cards she has from you give her an AAoA of 1 year if I recall.

You could caste your line into the water and see what happens, or you can start out small with Cap One secured or builder card or something else like that.

[larinoriani]

Nobody actually knows except AmEx; we just talk from people experiences posted here and some own experiences that have worked in the past. So please whatever you do, update us so that we know

[Anonymous]

Thanks again for all the advice.

I think we are going to give it another month or two to let her AU accounts mature a little bit and to give me a little more time to get the utilization on those two accounts under 10%. I will certainly post back as soon as we try something to let you know how it goes.

I really appreciate all the help. Thanks again!