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Blogger
Posts: 2,876
Registered: ‎02-02-2012
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Re: Newbie Credit Help!

Emily, here's the bad news: You're 19.

 

But now, here's the good news: You're 19.

You're young enough to try to throw as many darts as you can on the board as you want, responsibly, and armed with information from these knowledgable boards.

 

Do as Crashem suggested... student cards. And follow your own, secured cards. The younger you can start to build, the better off you will be. Don't "quit" for 6 months and then try again. What do you think is going to change in 6 months if your credit situation is still going to be the same? And don't worry about inquiries now. That's something to worry about later on in life. Right now, you are trying to build credit and that's going to take credit applications to get some.

 

 

Follow my financial journey: http://www.frugalrican.com


EQ FICO (01/16/2012): 656 - EQ FICO (02/16/2012): 743 - EQ (02/24/2012): 760 - EX (04/28/2012): 739 - GOAL 2013: 800+

AMEX BCE (0/10K) --- BOA 1-2-3 (0/15.9K) --- Discover More (0/6K) --- Chase Freedom Visa (0/1.4K) -- Hyatt Visa Sign. (0/5.8K) -- Barclay's NFL Card (0/7.5K) -- Chase Sapphire Preferred (0/5K)

Valued Contributor
Posts: 3,096
Registered: ‎01-26-2012
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Re: Newbie Credit Help!

So remaining student card choices are Discover, Wells Fargo, and Capital One.  App to each of these in same day.  Make sure to look for student link.

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Member
Posts: 15
Registered: ‎07-07-2012
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Re: Newbie Credit Help!

Ok three questions. They may seem so dumb but....

 

Should I wait until i hear back officially from TD to apply to the rest of the student cards?

Should i apply for them online or in person?

If in person, does apperance affect their decision? Like sweats and a tshirt vs jeans and a blouse?

 

ha I feel like I'm trying to learn a new subject in school...

Valued Contributor
Posts: 2,111
Registered: ‎07-29-2011
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Re: Newbie Credit Help!


EmilyHeather wrote:

 

Should I wait until i hear back officially from TD to apply to the rest of the student cards?

Should i apply for them online or in person?

If in person, does apperance affect their decision? Like sweats and a tshirt vs jeans and a blouse?

 



It doesn't hurt to apply now.  If anything you get the TD card and another card.  I would do it online because it is easier.  If you went into a bank, they would do the same things: verify your income and check your credit reports / score.  It probably doesn't matter what you wear, but, personally, I don't go anywhere wearing only sweats and a tshirt.

 

 

EX:694 TU:744 EQ:777
Amex ED $19.5k - BoA Travel Rewards $15k - CSP $5k - SDFCU EMV $15k - NFCU goRewards $20k - Barclays Arrival $6.5k
Blogger
Posts: 2,876
Registered: ‎02-02-2012
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Re: Newbie Credit Help!

I wouldn't wait to hear from TD.

 

You want more than 1 card, whether now or eventually.

 

Follow my financial journey: http://www.frugalrican.com


EQ FICO (01/16/2012): 656 - EQ FICO (02/16/2012): 743 - EQ (02/24/2012): 760 - EX (04/28/2012): 739 - GOAL 2013: 800+

AMEX BCE (0/10K) --- BOA 1-2-3 (0/15.9K) --- Discover More (0/6K) --- Chase Freedom Visa (0/1.4K) -- Hyatt Visa Sign. (0/5.8K) -- Barclay's NFL Card (0/7.5K) -- Chase Sapphire Preferred (0/5K)

Moderator Emeritus
Posts: 7,225
Registered: ‎09-16-2011
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Re: Newbie Credit Help!


FrugalRican wrote:

I wouldn't wait to hear from TD.

 

You want more than 1 card, whether now or eventually.

 



I try to wear nice clothes when I'm going into a bank wanting something from them (a loan or credit card).  When I've got something they want (my money), then I wear work clothes.


Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
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Valued Contributor
Posts: 3,096
Registered: ‎01-26-2012
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Re: Newbie Credit Help!

Discover is online. Wells in person and dress decently (maybe open bank account with them) and make sure they understand you want student card. Cap one is last and online. Do all on same day if possible.
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Member
Posts: 15
Registered: ‎07-07-2012
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APPROVED!

I just applied to Discover and Cap1. Discover is processing my app and I got approved for Cap1!!! I'm so happy. I'm so excited, no idea why. My gut was telling me to hold off, but you guys seem to really know your **bleep**. Thank you all for your help.

 

Now I have 2 questions. haha Never ending questions, I apologize. Currently, if I dont sent the paper app for TD back within 15 days my application will close. Since I have the cap 1 card, should i just forget about the td one for now? I dont want to be overloaded with cards.

 

Same with the discover, if I get approved for that one, what do I do, just have two and use them sparingly. Not that I was planning on using it a lot any ways.

 

 

 

Valued Contributor
Posts: 2,111
Registered: ‎07-29-2011
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Re: APPROVED!

[ Edited ]

If you already took a hard pull for TD, there is no reason not to send back the paperwork they requested.  Multiple cards make for a better FICO score, but if you are uncomfortable building with more than the Capital One card, then hold off... It will take longer though to build credit and you will need more cards eventually.

EX:694 TU:744 EQ:777
Amex ED $19.5k - BoA Travel Rewards $15k - CSP $5k - SDFCU EMV $15k - NFCU goRewards $20k - Barclays Arrival $6.5k
Valued Contributor
Posts: 3,096
Registered: ‎01-26-2012
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Re: APPROVED!

Yes take all the cards you can get now.  Hopefully Discover is approved and mail back the TD app.  No matter what happens.  Do not hold running balances on the cards (IE. Pay in Full).  In six months, make sure your "reported" balance is low or 0.  Get your FICO score then and come back for next set of credit card recommendations.  If you do things right, you will have mortgage ready credit file by the time you graduate even if you aren't ready for a house, but only a car.

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