Re: Okay! so I applied for a credit card
12-03-2012 05:58 PM
@bears That would be the most advisable thing for you at this step in your credit building journey. It was fairly easy for me to get the cards I have, I just diligently pay on my cards even if I can't PIF, I've struggled with keeping util% down (all the child-ish intuition of wanting TVs, Xboxs and such) and have loaded my reports (16EX, 24EQ, 16TU) with inquiries so I do hope you take that advice and don't let the app itch get to you - because you could be much better off than I am now when you get to my age (AMEX BCP, Chase CSP so on)
Also: A mix of credit, once you get established, is dire to building to the point I am at. I have had 3 installment loans since I was 18, not including student loans so once you get some income and a card with some history go buy a cheap car with a signature or car loan from your local credit union - don't try big banks as they don't care what your story is and are less understand of short history, again be inquiry conservative don't waste them as they are much more valuable than people think.
As for income - you don't have to be making $30k/year (which I currently make) to get decent cards - Chase approved me for a $500 limit on my Freedom with income as $13,000 annually just had to call and verify my address and identity, so if you get a 7-10 day message don't get discouraged, called the back door and see what they have to say.
Starting: 563 | Current: 753 (Walmart TU 11/12) | Goal: 800 | Garden since: 01/15/2013