topic Re: I need to get credit. Fast. Help! in Credit Card Applications

I need to get credit. Fast. Help!

Anonymous — Wed, 13 May 2015 23:33:11 GMT

I have no credit history. What-so-ever. I was just granted a Cap One Platinum card. I need to build my credit, and fast. What unsecured credit cards will approve me? I have only had my Cap One card for a month and have only made one payment so far.

Re: I need to get credit. Fast. Help!

Anonymous — Wed, 13 May 2015 23:41:38 GMT

@Anonymous wrote:
I have no credit history. What-so-ever. I was just granted a Cap One Platinum card. I need to build my credit, and fast. What unsecured credit cards will approve me? I have only had my Cap One card for a month and have only made one payment so far.

There is no such thing as building credit fast. What you have is a good start. I'd get another secured card and give it at least 6 months for it generate you some scores and then think about applying for unsecured cards.

If you have anyone who can add you as authorize user on their cards, they will also help alot...

Re: I need to get credit. Fast. Help!

TRC_WA — Wed, 13 May 2015 23:50:00 GMT

My first card was a Cap One Platinum...

I got it in May 2013 and here we are in May 2015 and I've built a pretty solid profile that will be even better in another 6 months when my BR falls off...

Re: I need to get credit. Fast. Help!

CreditCuriosity — Thu, 14 May 2015 00:15:33 GMT

This man or woman is trying to cut in line ...

There is no fast w/credit.

Re: I need to get credit. Fast. Help!

AeroKrix — Thu, 14 May 2015 00:22:18 GMT

@Anonymous wrote:
I have no credit history. What-so-ever. I was just granted a Cap One Platinum card. I need to build my credit, and fast. What unsecured credit cards will approve me? I have only had my Cap One card for a month and have only made one payment so far.

Your best route is secured cards. You need to develop a steady payment history on 3 cards to generate a "genuine" FICO score. If you are a student, look into student cards, but check out the credit pulls database (google it) before applying so you gain a sense of the approval requirements.

MyFico Secured Card Thread

Re: I need to get credit. Fast. Help!

Anonymous — Thu, 14 May 2015 00:25:20 GMT

What's the rush for?

Re: I need to get credit. Fast. Help!

Santi78342 — Thu, 14 May 2015 00:33:32 GMT

Are you a member of a credit union? If so, they might give you a card.

Re: I need to get credit. Fast. Help!

Callandra — Thu, 14 May 2015 00:40:06 GMT

@AeroKrix wrote:
@Anonymous wrote:
I have no credit history. What-so-ever. I was just granted a Cap One Platinum card. I need to build my credit, and fast. What unsecured credit cards will approve me? I have only had my Cap One card for a month and have only made one payment so far.
Your best route is secured cards. You need to develop a steady payment history on 3 cards to generate a "genuine" FICO score. If you are a student, look into student cards, but check out the credit pulls database (google it) before applying so you gain a sense of the approval requirements.

MyFico Secured Card Thread

You don't need 3 cards to get a FICO score. You need 6 months of [reporting] credit history for a FICO to generate. My FICO generated with nothing but one auto loan reporting. 3 cards is often thought of for best possible scoring.

To OP: I also suggest another card (secured will probably have to be the route to go) and if possible, look into a secured loan as the extra tradeline will help you and will add to the credit mix to have an installment loan.

Re: I need to get credit. Fast. Help!

Anonymous — Thu, 14 May 2015 00:57:16 GMT

Lots of us have various reasons for needing a clean credit file with a decent score and the ability to access lines of credit.

The absolute best way to build a credit file is to be added on a financially stable parent, sibling, or significant others credit cards as an au. They need to have a card that is at least 1 year old the older the better with balances less than 25% of the limit. Do 2-3 of these and you can then apply for cards in your name with the newly "aged" file. If you are 22 years old don't get added to an account that is 20 years old but one that was opened when you were of legal age.

Don't have anyone to help? Try thr SCT. Search on this forum about how to do it. Get no more than 3 SCT accounts. Once your Cap One is 4 months old apply for Wal Mart.

By the end of the year you could be able to get a major card or 2. Put a lot if usage on the Capital One (charge about $250 a month and pay all of it off but $20 BEFORE the due date, and in October you may get a large credit limit increase.

There is no quick way to get credit but there are "strategic or circumvential" ways to do it.

Good luck.

Re: I need to get credit. Fast. Help!

elim — Thu, 14 May 2015 01:07:18 GMT

Go to a local (or online) Credit Union and ask for a Share Secured Loan. Hand them $500 and they will write you a check for $500 for the loan while holding your original funds. Take that check and open a Secured Card at the same time/CU. This will give you an installment loan and another CC reporting for the same $ (more mix). No credit check or Hard Inquiry if you use a CU like SDFCU (State Department).

I would also consider BOA Secured Card for the benefit of graduating to un-secured.

Let 3 CC's and installment loan report for 6 months while you pay your bills on time and you will be ahead of the game.

Re: I need to get credit. Fast. Help!

Anonymous — Thu, 14 May 2015 01:09:07 GMT

go to capital one plat, journey and a store card like macys.

Re: I need to get credit. Fast. Help!

Anonymous — Thu, 14 May 2015 01:20:45 GMT

Fast, Cheap, Reliable.

Pick two.

Re: I need to get credit. Fast. Help!

Anonymous — Thu, 14 May 2015 02:20:47 GMT

discover

Re: I need to get credit. Fast. Help!

Anonymous — Thu, 14 May 2015 04:18:14 GMT

None. maybe a credit union. But you will need to wait at least a year

Re: I need to get credit. Fast. Help!

Anonymous — Thu, 14 May 2015 10:16:36 GMT

Make sure you use the Cap One card frequently, pay in full every month. After paying them on time and in full for at least 4-5 months, app for another Cap One card (QS1). Also try a secured card with a Bank. You need at least 3 CC's in order to build your score within a reasonable timeframe..

Re: I need to get credit. Fast. Help!

Anonymous — Thu, 14 May 2015 16:21:36 GMT

@Anonymous wrote:
I have no credit history. What-so-ever. I was just granted a Cap One Platinum card. I need to build my credit, and fast. What unsecured credit cards will approve me? I have only had my Cap One card for a month and have only made one payment so far.

As states previously. There is no way to just quickly build your credit report. There are many factors when establishing a good credit file. One of which is AAoA, which this one takes years to build and it's also 15% of your score.

While you can have a good score quickly, your score is only a small portion of what lenders take into consideration when making lending decisions. I have seen people with a +700 credit score be denied credit due to insuficient credit history.

On-time payments go into this as well, which also takes time to build. It's 1 on-time payment per month per account.

Take it slowly, and be mindful of what you are doing.

Re: I need to get credit. Fast. Help!

Lyythine — Fri, 15 May 2015 03:11:33 GMT

@CreditCuriousity wrote:
This man or woman is trying to cut in line ...

There is no fast w/credit.

Not true... You can tank it amazingly fast

Re: I need to get credit. Fast. Help!

Anonymous — Fri, 15 May 2015 03:45:41 GMT

Fast and quality do not go hand in hand when it comes to credit.