topic Re: Credit advice for a newbie in Credit Cards

Credit advice for a newbie

Anonymous — Tue, 17 Mar 2015 04:11:53 GMT

Hello all! I was hoping for some advice on my next stept on my credit journey.As I reported several days I was approved for a Capital One Platinum and just put my first charge on it yesterday.I used the shopping card trick with VS and was prequalified for 350.00.This is more than my Cap One card,it is only 300.00 and my Maurices is just at 300.00.My thing is as a former employee I have had my fill and wouldnt use it that much.Should I go ahead and apply and use it sparingly for the credit? Also can you do online payments with Victorias Secret? I do with Maurices and its the same bank.Thanks for any advice! Also what do you think my chances would be to be approved for a JC Penney card instead as this would serve me better with clothing and not to mention Sephora (love that place)

Re: Credit advice for a newbie

jzamarripa3220 — Tue, 17 Mar 2015 04:33:29 GMT

My advice would be to skip the store cards and go for the "get the foot in the door cards." If I could go back I would have never apped for any type of store card. Just garden with what you have if you don't think you'll get approved for anything. Or you could possibly take a chance or two on a card that you can USE ALMOST ANYWHERE and just take it from there.

Re: Credit advice for a newbie

Anonymous — Tue, 17 Mar 2015 04:40:42 GMT

If you aren't going to use the card, I wouldn't get it. They have their place and sometimes give great discounts but if you aren't going to use the card to begin with those discounts do nothing for you. If you do shop at the store the card is for, then it can be useful for you.

Re: Credit advice for a newbie

Anonymous — Tue, 17 Mar 2015 04:41:56 GMT

May I ask why you wish that? I apologize for my ignorance..I was just trying for something that I already bank with (Comentity) but I just feel that I wouldnt use it that often.I have read so much about Capital One not raising your CL but I know I must remain patient and give it a chance at least.Do the store cards look bad on the credit to possible lenders? Thanks so much for the advice!

Re: Credit advice for a newbie

Anonymous — Tue, 17 Mar 2015 11:20:15 GMT

Store cards end up taking up inqs, which lower your credit score for a year, and AAoAs, which lowers your score until the average goes back up, while giving you a card with a low limit that isn't useful in most situations. You are correct that CapOne generally doesn't give you CLIs, but you can use the card anywhere. There are entry level cards from other CCCs, especially AMEX, that you can get CLIs on as your file grows, and that you can PC to better cards down the line.

Re: Credit advice for a newbie

baller4life — Tue, 17 Mar 2015 12:30:57 GMT

Skip the store cards. Garden what you have,work on any baddies. In 6 months you may be ready for Discover. They love thin files. Also in 6 months,check prequal sites for BOA,Chase,Amex. Store cards trap you in low limit hell. I wouldn't get anymore.

Re: Credit advice for a newbie

baller4life — Tue, 17 Mar 2015 12:32:30 GMT

Oh and do you by any chance qualify for Navy Federal Credit Union?