@Ddub wrote:
So 2 late payments 5 years ago is preventing me from getting any CC's, even most basic ones? That's so annoying! I know people who miss payments fairly often and make marginally more than I do (maybe like 12-15k a year) and they are getting approved for airline and hotel cards. My one friend had her first credit card be an airline card which seem harder to get.
Is there nothing to be done then? It just seems incredible to me.
I'm sure it's not the only factor, but it is a factor. In an already weak profile (low income, 1 CC with a joke limit) it does not help. Fortunately they are 5 years old now and will fall off in 2 years.
Unfortunately, you are in the beginning stages of the chicken and egg problem that building credit can be. Without a large income jump or alternate way of building credit history, there's not a lot you can do to speed the process. Fortunately, you do not have major issues like a bankruptcy and you are graduating soon with a positive job outlook. I think if you focus on building up that Macy's card (and maybe throwing in a secured or CU card like others mentioned if you find someone to listen to your story), you will be in a solid position in ~1.5-2 years to reach those better cards you want.
Think about it like this: In 2 years, you should have
- A much higher income with your new degree
- No late payments on your reports
- No inquiries (or they will be so old as to not effect you at all)
- 2+ years of active history on the Macy's card
- More history with another card if you are able to acquire one
- A much higher than $100 CL
Slow and steady wins the race here. Having patience means you will be much better equipped to efficiently reach your goals when you are best able to.
Go buy yourself a cozy pair of socks at Macy's to keep yourself warm and comfortable through this time of credit hibernation 