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@Themanwhocan wrote:The standard approach is to get a Secured card from your bank or credit union. After 6-12 months of using the card very lightly and always paying in full, then they will have a very good credit score.
When I did that, after 12 months (and not properly optimizing my spending) I had a 732 when I then applied for a regular credit card.
Kudos to the winning answer. Started with secured CU card in 2013. Added rebuilder card in April 2014 (lots of baddies still on reports). Since she doesn't have anything, a secured card with CU should get you started nicely.
Great advice. I'll get them started with a secured card to start building their history.
@Imperfectfuture wrote:
@Themanwhocan wrote:The standard approach is to get a Secured card from your bank or credit union. After 6-12 months of using the card very lightly and always paying in full, then they will have a very good credit score.
When I did that, after 12 months (and not properly optimizing my spending) I had a 732 when I then applied for a regular credit card.
Kudos to the winning answer. Started with secured CU card in 2013. Added rebuilder card in April 2014 (lots of baddies still on reports). Since she doesn't have anything, a secured card with CU should get you started nicely.
I should add that my secured card was $1000 with US Bank, and 2 days shy of a year I applied for the US Bank Platinum card and was granted a $8500 limit card. It was a very good start... And since I cancelled the secured card (they wouldn't unsecure) I didnt have to pay another annual fee.
I personally started with a rejection from Dell financing and a couple of months after that got pre-approved for a Capital One Platinum.
If I was starting again, I'd try with a Discover and/or Capital One Plat (or some other issuer having a rep for being fine with new/thin files) first and see what happens and then IF that doesn't yield a card, only then would I go the secured route. I really doubt a couple of inqs on a brand new file would do much, if anything, towards preventing anyone from getting a secured card.
When I got my Discover card last year I had no credit history at all, blank sheet of paper basically.
@Discover2016 wrote:When I got my Discover card last year I had no credit history at all, blank sheet of paper basically.
Oh my God, I don't know what to say. Somebody slap me! Is this for real, can it possibly be true that you can obtain a credit card without first having a secured card or being an authorized user on someone else's card. Be so kind as to tell us it's a harmless joke, a cheerful attempt at having fun at our expense. Please!
@Anonymous-own-fico wrote:
@Discover2016 wrote:When I got my Discover card last year I had no credit history at all, blank sheet of paper basically.
Oh my God, I don't know what to say. Somebody slap me! Is this for real, can it possibly be true that you can obtain a credit card without first having a secured card or being an authorized user on someone else's card. Be so kind as to tell us it's a harmless joke, a cheerful attempt at having fun at our expense. Please!
What??
Applying!
@Anonymous-own-fico wrote:
@Discover2016 wrote:When I got my Discover card last year I had no credit history at all, blank sheet of paper basically.
Oh my God, I don't know what to say. Somebody slap me! Is this for real, can it possibly be true that you can obtain a credit card without first having a secured card or being an authorized user on someone else's card. Be so kind as to tell us it's a harmless joke, a cheerful attempt at having fun at our expense. Please!
No joke lol. I got my Discover with no history last September and I was surprised to say the least.
@Discover2016 wrote:
@Anonymous-own-fico wrote:
@Discover2016 wrote:When I got my Discover card last year I had no credit history at all, blank sheet of paper basically.
Oh my God, I don't know what to say. Somebody slap me! Is this for real, can it possibly be true that you can obtain a credit card without first having a secured card or being an authorized user on someone else's card. Be so kind as to tell us it's a harmless joke, a cheerful attempt at having fun at our expense. Please!
No joke lol. I got my Discover with no history last September and I was surprised to say the least.
Methinks my_own_fico was being a bit off facetious, maybe a little fun this weekend?