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New Member
Posts: 42
Registered: ‎05-09-2013
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Re: Young credit report, want another card. HELP

whats PIF mean? ive used my card but right now im at 0 since i hvent used my card since my last posted payment

Moderator
Posts: 27,207
Registered: ‎09-13-2012
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Re: Young credit report, want another card. HELP

New Member
Posts: 42
Registered: ‎05-09-2013
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Re: Young credit report, want another card. HELP

Yes, ive paid every single one in full way before the actual due date.

 

the last 2 months they were $30 payments

 

before, just a few dollars to get activity on the card

Moderator
Posts: 27,207
Registered: ‎09-13-2012
0

Re: Young credit report, want another card. HELP

Lets start over again. Are you paying in full before the statement cuts? In other words, are you waiting to get the bill and then PIF?
New Member
Posts: 42
Registered: ‎05-09-2013
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Re: Young credit report, want another card. HELP

no, soon as the statement is generated i pay it in full online.

 

so say last month the statement is generated in April 8th and says i need to pay $30 and its due May 8th, i would pay it April 9th.

Community Leader
Valued Contributor
Posts: 1,409
Registered: ‎07-12-2011
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Re: Young credit report, want another card. HELP


bobbyburns34 wrote:

Yes ive been there long but how would they know any of that info? sure i know they need to know but do they actually look into it?


No... they don't always check but there are ways to verify employment and income once you have established credit.  It's surprising really how they verify income... I was actually.

But that's neither here nor there.  Okay.. based on the info you've provided.. this is what I recommend.

This isn't guaranteed but it's above average in prospects so and might not be popular with some on here but here goes:

 

1.  I'd app Discover It.  You'll likely get approved with your thin file with like a $500 limit and not with the best terms - they will likely counter offer the on line app with a higher interest rate and higher purchase APR but it's an in if approved.  I'd app this first

2.  I'd app Walmart store card.  It has easy starting criteria and it will give you a TU FICO for you to track your credit growth.  (again.. these are just guesses at approval but I think you will likely succeed.

3.  I'd app the Cap One New comers card since you already have history with Cap One.

I'd do them all the same day or night.  If you decide to do this.. let us know the results.

If approved for any... I'd not app anything again for a good 6 months but I recommend 8 or so.

Good Luck with what ever you decide.

I just walked a friend through this same process exactly one week ago with a similar credit profile.  8 months history with 1 secured card.

His results:  Cap One (yes) 1K`  Discover It (yes) $500` Walmart (yes) $300 then with out my recommendation... he apped Chase Freedom -  No go. Smiley Happy  they want to see 1 year history.. that's why I didn't recommend.

Of course you results might be different but I suggest it and see what comes up.

 

 


Starting Score: 642
Current Score: EQ 773, EX 780, TU 777 (All FICO)
Goal Score: 800+

Cards: NFCU Flagship 50K, DC 30K, BCP 28.6K, Arrival+ 25K, Citi DP 22.8K, CSP 20.5K, TotalRewards 20.5K, QuickSilver 20K

Community Leader
Valued Contributor
Posts: 1,409
Registered: ‎07-12-2011
0

Re: Young credit report, want another card. HELP

Before you do this... what was the balance when the statement cut on the 8th not what you have to pay by the due date?


Starting Score: 642
Current Score: EQ 773, EX 780, TU 777 (All FICO)
Goal Score: 800+

Cards: NFCU Flagship 50K, DC 30K, BCP 28.6K, Arrival+ 25K, Citi DP 22.8K, CSP 20.5K, TotalRewards 20.5K, QuickSilver 20K

New Member
Posts: 42
Registered: ‎05-09-2013
0

Re: Young credit report, want another card. HELP

i dont understand? i pay my bill before its due every month

 

last month it was $30

 

this month i didnt use the card and a new statement was generated today at 0.00

Moderator
Posts: 27,207
Registered: ‎09-13-2012
0

Re: Young credit report, want another card. HELP

Also try Barclays. I agree with improvingcredit in Cap 1 Newcomers, WalMart - Discover not so sure about...are you a student?
Frequent Contributor
Posts: 304
Registered: ‎05-08-2013
0

Re: Young credit report, want another card. HELP

Go to the discover website and check to see if you are pre qualified for the discover it card. I have only had two secured cards for 2 months and got approved for $750cl. If that doesn't work try the capital one newcomers card. Neither of those cards have fees.

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