Senior Contributor
Posts: 3,870
Registered: ‎12-11-2011

Re: Second card for student?

tinkytoo wrote:

Can you explain how a student can use their grants and scholarships as income. My daughter is a full time college student she is trying to build credit she already have the student discover that started out at 750 and is now 1500. She got this card June of last year

Most applications will have 2 sections, "Income" (Usually from a job, usually described as Regular Income, because it is continuous), and then "Other Income." I list my grants and scholarships in the other income section, and if they ask for proof of income for this (which hasn't happened to me yet), you can request a 1098-T from your daughter's school, which will list all of the aid she received. 

New Contributor
Posts: 73
Registered: ‎01-05-2012

Re: Second card for student?

[ Edited ]

If you want to keep under 20% util, you have to pay before the closing statement date (before the statement is created) because your statement balance is reported to the cra and not your balance before the due date.

Amazon Store Card ($4000) Amex BCE ($7400) BofA Better Balance Rewards ($2500) Best Buy Store Card ($5000) Chase Freedom ($2500) Discover It ($5500) Walmart Discover ($6000) Wells Fargo CB ($3500)
Valued Member
Posts: 94
Registered: ‎07-21-2012

Re: Second card for student?

Recently after an app spree out of Discover More, Walmart, Chase, Capital One- as a student; Cap1 is the only one that required income verification but still gave $300 steps problem.


#1 Thing is to prepare for recons if she is taking stafford loans, or any other type of college loan (Citi does not recon), because the DTI will show up with deferred loans.

CS 701, CK 682, 719/ TU FICO 666 (DIS 8/12) EU FICO 658 (8/12)
After spree CS 738, CK 684, TU FICO 666 (Dis 8/5)

WF Secured 600Cl (7/11), Discover More 1.5k (8/12), Walmart 150CL(8/12), Cap1 Platinum w/Credit steps($300) (8/12)

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