No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
Hey everyone, thank you for all the posts in the last year. My EX has jumped almost 200 points from 520 to 710 in my credit journey, a lot of thanks to this forum.
So here is my delima:
I have no credit cards and just sent in an application to be a joint cardmember on my bf's Chase Explorer.
Should I wait for them to pull my account and approve/deny me the joint cardmembership, or go ahead and try to apply for my own card with maybe capital one (i am pre qualified for a platinum card). Would that hinder getting qualified for the joint?
I also need to buy a new car really soon. I have saved a downpayment of $5000, I think that adding the cc would boost my credit scores as I have no CC history and my bf has huge limit and perfect payments, under 30% utilization.
Any advice on how I should play this hand would be great! thanks everyone! I really appreciate this community.
EX: no idea
TU: 663
EQ: 710
Even assuming you get approved on the joint account, you should go get another 1-2 cards on your own regardless.
That said, how soon are we talking for auto loan? If we're talking in the next month, it's a wash (it'll be a negative either on your auto loan or on your future credit cards) and probably a benefit to simply wait; however, if we're talking 3-6 month timeframe, I'd make the applications now and get the new accounts aging immediately.
You could be added as an authorized user instead of a joint account holder. I'm not sure how FICO scores affect AU, but you should be able to gain the credit history of the of the card as a AU. Plus as an AU you don't need to apply, I'm never heard of anyone getting denied for an AU on a card.
update: I applied and got a capital 1 platinum card (2K), and got authorized as a joint card user on the explorer and had that limit increased by $4000. Soon as the accounts hit on my credit report, it should raise it significantly since I have no CC tradelines currently, and then apply for my autoloan ( i should be in the prime). After that, garden for a long time!