topic Re: Cards for limited credit in Credit Card Applications

Cards for limited credit

Anonymous — Mon, 13 Jun 2016 21:16:32 GMT

Hey guys brand new here and have a 660 credit score. My score is only reporting to Trans Union. I have 1 trade line from rent reporters. 24 months of on time payments and that's it.

I read on this forum barclays is they way to go and got the mail message saying I would recieve decision in the mail. From what I read that should have been an instant approval. Thoughts?

Re: Cards for limited credit

RonM21 — Mon, 13 Jun 2016 21:18:16 GMT

Nothing is guaranteed and each profile is viewed differently. Now, I think it is likely you can get approved, depending on the card you choose? Any in particular?

Re: Cards for limited credit

Anonymous — Mon, 13 Jun 2016 21:21:12 GMT

penfed.com all you need

Re: Cards for limited credit

Anonymous — Mon, 13 Jun 2016 22:11:02 GMT

I was rejected by Barclays with about 7 months of credit history - I called to recon, and they told me that my credit history was too short, and that I should wait an indefinite amount of time before reapplying (this was for the Rewards Mastercard).

If you are looking for another card to apply for, I would recommend Discover - they are great to deal with, and they don't mind thin files. Also, I've read various posts on here suggesting that Chase sometimes doesn't mind giving people the Freedom as their first card, albeit often with a very small limit.

Good luck with the apps, OP!

Re: Cards for limited credit

Anonymous — Mon, 13 Jun 2016 23:21:25 GMT

Not looking for anything in particular, just a good unsucred card that will work with my thin profile I guess.

Re: Cards for limited credit

Anonymous — Mon, 13 Jun 2016 23:23:05 GMT

Thanks for the advice. I''ll give them a try. anything special I should know about them?

Re: Cards for limited credit

Anonymous — Tue, 14 Jun 2016 01:23:42 GMT

Barclays seems to like at least a year of good CC history. Discover likes thin files, you may want to try them, also the Capital One Quicksilver "One" Mastercard and the regular Platinum card are easy to get. Just keep in mind their new rule, one new Cap One card per 6 months, so choose one or the other. You could also try for a store card like Amazon or Overstock.

Get a couple of those and do good for 6 months and you'll be ready for some other things. Or wait a year and go straight for Chase, then whatever you want. Just keep in mind Chase 5/24 rule. So maybe get 2 cards now and save the remaining 3 openings to pickup some Chase cards after a year, but space them out over that year.

Re: Cards for limited credit

Anonymous — Tue, 14 Jun 2016 01:30:51 GMT

Talking with Penfed they pull EQ

Re: Cards for limited credit

dave36021 — Tue, 14 Jun 2016 02:08:53 GMT

With nothing reporting a secured card might be the way to go. There are a lot out there. I have one from Discover and had one from Bank of America and in about 9 months they graduated the card, returned the deposit and increased my credit line by 1.5k

Re: Cards for limited credit

Anonymous — Wed, 15 Jun 2016 06:44:02 GMT

If I were u I'll go for discover.... Capital one platinum if approved apply for a capital one quicksilver one its same pull so worst can say is no.. Try for a chase freedom.. After try for an Amazon store card and a Walmart store card. After all those just sit on it for 6-9 months use and pay on time. If nothing approve u. U might need to get a few secured card and start with that

Re: Cards for limited credit

Anonymous — Wed, 15 Jun 2016 10:39:30 GMT

I'd suggest a secured card to start, especially since you have no current credit cards. Most lenders prefer to see one full year of credit history with a major credit card before they will approve you for an unsecured major credit card.

You can also try for a store card (one that you could actually use) in order to get a card history started. Good luck!

Re: Cards for limited credit

Anonymous — Wed, 15 Jun 2016 23:19:26 GMT

You should definitely join Navy Federal Credit Union (easy to join after you become a member of the Navy League. NFCU has been handing out high limits to people with fair credit like yours.