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My GF wants to start building credit? help?

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Desmoire
Regular Contributor

My GF wants to start building credit? help?

Hello everyone,

 

My GF graduated from college last summer, and was finally able to get a substitute teaching job at a local district. Knowing how important it is to start building good credit, I talked to her about it. Is it absolutely necessary to get a secured credit card for people with no credit these days? Or do you think she would get approved for a store card or even a regular CC?

 

Thank you!

myFICO Scores EQ 778 TU 783 EX 772 | Mortgage 106774.00 | Auto Loan 15251.00 | AMEX BCE 0/25500 | Lowes 0/6300 | Barclay Rewards 0/5000 | NASA FCU 0/5000 | FNBO 0/4400 | Amazon 0/4000 | FNBO Employee 283/2900 | NFM 0/2600 | Chase Freedom 0/2500 | Best Buy 0/2300 | Cap One 0/2250 | FNBO 0/1100 | NASA FCU Rewards 0/1000 | Quicksilver 0/750 | Younkers 0/500 TOTAL: 283/74,450 0.003% UTIL
Message 1 of 5
4 REPLIES 4
killer_queen229
Established Contributor

Re: My GF wants to start building credit? help?


@Desmoire wrote:

Hello everyone,

 

My GF graduated from college last summer, and was finally able to get a substitute teaching job at a local district. Knowing how important it is to start building good credit, I talked to her about it. Is it absolutely necessary to get a secured credit card for people with no credit these days? Or do you think she would get approved for a store card or even a regular CC?

 

Thank you!


I couldn't get approved for a store card or regular credit card when I had no credit estabilished.. it was ONLY when I had some credit estabilished is when I got store cards and an unsecured card. I had to start off with a secured card, as many people have to. I'd have her start off that way. 

Message 2 of 5
Jansroom726
Regular Contributor

Re: My GF wants to start building credit? help?

A few years ago when I was 18 and working for Best Buy, one of our employee benefits was a guaranteed approval for a $100 credit limit Best Buy Mastercard with no annual fee.I signed up - and because of this card, I was able to grow my credit history.

 

Check to see if her employment offers some type of credit assistance - you never know.

25 years old. Scores around 740. Income = 45K. Chase Car Loan @ 2.4%, AAOA = 2 years. Total Personal CL = 120k.
Message 3 of 5
tornadoguy
Regular Contributor

Re: My GF wants to start building credit? help?

There's a great post on how to approach this by Daybreaksgone, see here (has her situation nearly exactly:

 

http://ficoforums.myfico.com/t5/Credit-Cards/Garden-Club-Meeting-July-2013/m-p/2306249#M648941

CK TU FAKO - 762, TU FICO - 781, EX Fako 734, EX FICO 764 - 3/29/2014
INQ: TU 4, EX 8, EQ 1 |
AMEX PRG (01/11), AMEX BCE (01/11): $2.5k, AMEX EDP (3/11): $6k Chase Freedom(07/13): $2k,
Barclay Arrival+ WMC (3/14): $6.3k, Barclays US Air MC (9/14): $2.5k, CSP (9/14): 12k
Message 4 of 5
awiser
Regular Contributor

Re: My GF wants to start building credit? help?

A loan officer at my credit union "pulled some strings" and gave me my first car loan. It was only $3500 but after about six months of on-time payments, I then was able to get a Capital One card, and later, a Chase card.

Message 5 of 5
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