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Moderator
Revelate
Posts: 8,896
Registered: ‎12-30-2011
0

Re: No credit history....


chucky1234 wrote:

Phizzle wrote:

The primary's score should not affect an AU score. Everyone's profile is individual to them. The only time his would make a difference is on a joint application.

What will affect your score are his usage and payment history on the cards. Generally speaking, for most known "prime" bank's unsecured products, you want at least six months history (referring to you your Chase and Discover reference). Some others may approve you for lower limits (like store cards). I would suggest taking care of your current line for 6 months or so before trying.

Good luck!


Great, thank you!


One last question how long before my credit reports generate a fico score? Anybody?


Six months history reported on any tradeline (credit card, auto loan, mortgage, student loan, etc).  After the sixth month is reported to the bureaus, you should be able to get a FICO score generated.

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 679, EQ 8 708, TU 711, EX 702* (07/14/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


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New Contributor
chucky1234
Posts: 68
Registered: ‎11-05-2010
0

Re: No credit history....


TranTX wrote:

You may want to apply for Capital One Newcomers.


Which card is this one? I already have a Cap One secured Mastercard with them. Will they approve another one?

New Contributor
Phizzle
Posts: 76
Registered: ‎01-15-2012
0

Re: No credit history....

Yes, they will approve you for more than one card. Go to Cap One's site and search for exactly that - "Capital One for Newcomers" in their search bar.
Senior Contributor
Wolf3
Posts: 3,198
Registered: ‎01-24-2010
0

Re: No credit history....


chucky1234 wrote:

TranTX wrote:

You may want to apply for Capital One Newcomers.


Which card is this one? I already have a Cap One secured Mastercard with them. Will they approve another one?


Yes they expect you to apply for a unsecured card with them after you have built some good history with them on the secured card. That history carries a lot of weight in the aproval and the CL.   So don't apply too soon.

 

Established Member
TranTX
Posts: 11
Registered: ‎02-22-2013
0

Re: No credit history....

My wife came to US only 5 months. I added her as my authorized user and applied Capital One Newcomers, got instant approved for $500. She never had any credit card or securred card, this is her first credit card.  APR is 24.99% but no annual fee, spend $50 to $100 a month and pay it off. Good way to build credit and get 1% cash back too. After 3 months with this card, she applied for AMEX BCE and got approved for $2000.

CHASE: Freedom Visa 5K, Freedom MC 8.5K, United 5.9K, SP 5K
BK of AMER: Better Balance Rewards MC 11.3K
American Express: BCP 5.5K, PRG NPSL
Discover MORE 3.5K, MORE joint 500
Citi: Platinum 3250, AA Visa 6.5K, AA Business 13K
Barclay NFL: Visa 7.5k, MC 7k
New Contributor
chucky1234
Posts: 68
Registered: ‎11-05-2010
0

Re: No credit history....


TranTX wrote:

My wife came to US only 5 months. I added her as my authorized user and applied Capital One Newcomers, got instant approved for $500. She never had any credit card or securred card, this is her first credit card.  APR is 24.99% but no annual fee, spend $50 to $100 a month and pay it off. Good way to build credit and get 1% cash back too. After 3 months with this card, she applied for AMEX BCE and got approved for $2000.


Wow...thats pretty good. I thought AMEX was hard to get with limited credit history. What were her scores?

Established Member
TranTX
Posts: 11
Registered: ‎02-22-2013
0

Re: No credit history....

[ Edited ]

She also got approved for AMEX PRG last month. I never check her FICO, but creditkarma is 646 right now, 715 before AMEX BCE reported. She got denied for Chase Freedom because credit history is less than a year.  Barclay NFL denied her 3 times for no/limited credit history, many inquires, yuck, wasted 3 hard pulls.

CHASE: Freedom Visa 5K, Freedom MC 8.5K, United 5.9K, SP 5K
BK of AMER: Better Balance Rewards MC 11.3K
American Express: BCP 5.5K, PRG NPSL
Discover MORE 3.5K, MORE joint 500
Citi: Platinum 3250, AA Visa 6.5K, AA Business 13K
Barclay NFL: Visa 7.5k, MC 7k
Established Contributor
TiggerDat
Posts: 1,024
Registered: ‎10-15-2011
0

Re: No credit history....

Being an AU only helps if they have your social security number and report AUs to credit bureaus.



Rethink every purchase you make, before you make it. Use the card with the best rewards. Pay in full each month. Redeem rewards often. Use the cards online shopping for more discounts. Smile, knowing that being thrifty allows you to actually get more out of the same amount of money!

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