08-22-2013 04:37 PM
Hi all. It seems that when I apply for a card, I get declined for not having enough positive trade lines. So I'm looking for suggestions on what cards I can add that I am also likely to be approved for. I was thinking of applying for a Bank of America card, hoping for (at worst) getting their counter offer (99/500 I think?). Has anyone had luck with this? What about other options for someone with a thin profile?
FICO scores bought on this site: Equifax: 650, Experian: 663, TransUnion: 663
I only have one credit card - Cap1, $300 secured. 5% util.
I have an 18 month old car loan, never late.
I have a paid off car loan.
I have one or two (Depending on the CRA) very old collections (less than $500) falling off within a 6 months to a year.
Thank you for any suggestions on building a thicker profile.
08-22-2013 05:20 PM
So since I bank with Chase, I tried their pre-qualified thingy. Thye said I was pre-qualified for either the Chase Slate or Chase Freedom. After a bit of research I decided to apply for the Chase Freedom. BOOM! Approved for $500 unsecured. I cannot believe they actually insta-approved me. That's a pretty good feeling!
08-22-2013 05:44 PM
Congrats on the card!!!! I would also suggest getting into a credit union as they have better rates than the bigger banks and you can try for a secured card. Let them age for a yr keeping on time payments and you will see your scores rise nicely. Keep your util % between 1-9 % on one card and a $0 bal on the other. Rotate them every month.
08-22-2013 05:52 PM
Thanks! I hadn't considered alternating balances between the cards. I will give that a shot! I have been keeping sub 9% on the Cap1. Its kind of nice to get a card now with some rewards ($100 if I use $500 in 3 months + 5% gas, 1% otherwise) instead of a rebuilder. I really think my banking history with Chase helped, so that's something to consider with anyone in the same boat as me with a thin credit file.
08-22-2013 07:43 PM
09-06-2013 02:18 PM
Since I keep getting offers in the mail, I went ahead and applied for a United Mileage Plus Explorer card (Chase) as well and got instant approval for $5,000. I could not believe my eyes.
I believe what was holding me back before from obtaining new cards is that my only credit card was less than 6 months old. I feel like I've come a long way since I joined up here. I've gotten numerous bad marks removed from my credit (including two First Premier chargeoffs) and it is all finally starting to pay off.
Thanks MyFico peeps!
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.