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h0t0ny
Posts: 34
Registered: ‎03-30-2013
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Secured card for a 1 1/2 years.. Should i open a another credit card?

Hi, i've had my Wells Fargo secured card for 11/2 years now, ive paid my balance in full as soon as they show up, my credit score is currently 759.

I wanted to get a second card to better my credit in the long run, and lower the utilization a bit, im not worried about maxing or late payments because its never been close to that point.

 

My only question is, should i even apply for a credit card without income? i have ways of making money, and money saved up, i just don't know if i will be accepted for a credit card with no income, but a score of 759.

 

if anyone knows or have/had the same situation please give me some info. Thanks. =)

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LS2982
Posts: 15,434
Registered: ‎04-09-2011
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Re: Secured card for a 1 1/2 years.. Should i open a another credit card?

Yea that might be a problem. It wouldnt be wise to fib on your Income because eventually it comes back to haunt you. Are you a student?



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Member
h0t0ny
Posts: 34
Registered: ‎03-30-2013
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Re: Secured card for a 1 1/2 years.. Should i open a another credit card?

yeah, i am currently a student, i mean, i have money, its just i don't have a job, so no proof of income, but i do want a 2nd credit card to better my long-term credit.

im not sure if its a exactly a problem or if i will be declined.

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webhopper
Posts: 7,225
Registered: ‎09-16-2011
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Re: Secured card for a 1 1/2 years.. Should i open a another credit card?

You used to be able to get cards without income; however; the CARD act prohibits this now. Best advice; add money to your secured card and increase the limit on it as much as you can. This will help you get high limit cards when you eventually have an income.

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enharu
Posts: 7,132
Registered: ‎02-27-2013
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Re: Secured card for a 1 1/2 years.. Should i open a another credit card?


h0t0ny wrote:

yeah, i am currently a student, i mean, i have money, its just i don't have a job, so no proof of income, but i do want a 2nd credit card to better my long-term credit.

im not sure if its a exactly a problem or if i will be declined.


apply for a college card. most college cards are okay with you not having income as long as you can prove you're getting money from parents / scholarships / grants / sponsorship.

 

discover, wells fargo, citibank have college cards. I think BofA has one too but I'm not entirely sure on that.

 

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Pilotdude
Posts: 955
Registered: ‎02-02-2013
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Re: Secured card for a 1 1/2 years.. Should i open a another credit card?

There are cards specifically aimed at students. I think Discover has one.
Try chase as well to see if they have a Student card.
Heck walk right into a branch and tell them the truth and show the lending person your credit report. (Bring one with you).
I'd be amazed if you don't get something.


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HiLine
Posts: 3,092
Registered: ‎10-19-2012
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Re: Secured card for a 1 1/2 years.. Should i open a another credit card?

Sounds like the perfect candidate for a student credit card. I would take a look at the Citi Forward Student, Discover It Student, and Bank of America BankAmericard Cash Rewards Student.

Member
h0t0ny
Posts: 34
Registered: ‎03-30-2013
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Re: Secured card for a 1 1/2 years.. Should i open a another credit card?

yeah, ive been trying to get my secure card graduated and wells fargo told me they only review twice a year and if i didn't get approved then i should wait for the next rewiew.

 

they offered me to apply for a unsecure credit card with them, but im thinking i should get the second card with someone else. better to not have all eggs in one basket.

 

what do you guys think? 

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HiLine
Posts: 3,092
Registered: ‎10-19-2012
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Re: Secured card for a 1 1/2 years.. Should i open a another credit card?

Wells Fargo is terrible for credit cards. You made the right call. 

Member
h0t0ny
Posts: 34
Registered: ‎03-30-2013
0

Re: Secured card for a 1 1/2 years.. Should i open a another credit card?

yeah, i noticed that when they kept putting off graduating me with me never having a late payment for over a year, and my score being at 759.

 

what do you suggest i get for me second credit card?


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