Regular Contributor
Posts: 242
Registered: ‎07-26-2008

When is your credit old enough to get a decent card?

[ Edited ]
Here are my cards and age, BOA, April/07, CapOne, 04/07, Chase 06/07 and Paypal Buyer thing 06/08. It says on my power score that age of accounts is hurting my score. I realized after trying the score simulator, that my habit of carrying a pretty high balance is playing a big part in my low score of 600, so have paid everything to zero in the hopes of hitting 700.

I also have some inquiries - one from 06/08, 07/08 (this was a rental screening), another from 07/08, when I tried to pay for this thing with buy it now, not realising that they were checking my score and a whole bunch from 02/2008 when I applied for a bunch of cards (and was denied for all of them..ha).
Is there any point in applying for a nice card (I am thinking one that gives 5% cash back like discover or some similar card) once I hit over 700 or will they probably deny me because my credit history is too short, even though I have a decent score and never missed a payment? I have nothing else bad on my account. The history is very limited because I did not become a resident in the US until 05/07.
Should I wait for some sort of preapproved offer (currently I get these really crappy ones for cards, I don't want).
Other negative factors affecting my score as per scorewatch:
high credit usage 
seeking credit
accounts with balances
Any help would be appreciated.

Message Edited by siangirl34 on 07-29-2008 05:02 PM

Message Edited by siangirl34 on 07-29-2008 05:04 PM

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