topic Re: New credit file What cards should I apply for and in what order? in Credit Cards

New credit file What cards should I apply for and in what order?

Anonymous — Mon, 16 Jul 2018 16:53:18 GMT

I have a new credit file at 19.

My current scores are EQ 608 TU 619 EX 626

I have three cards Capital one Platnum and Quick Silver with $300 credit limit each. My longest open card is 10 mos

What cards should I apply for and in what order?

Re: New credit file What cards should I apply for and in what order?

Anonymous — Mon, 16 Jul 2018 17:17:32 GMT

Discover It!

Re: New credit file What cards should I apply for and in what order?

Anonymous — Mon, 16 Jul 2018 17:19:10 GMT

Btw did you try requesting CLI's on either of them. I would recommend trying that first. You can do that online from your acc.

Re: New credit file What cards should I apply for and in what order?

Anonymous — Mon, 16 Jul 2018 17:19:26 GMT

Welcome to the forum! And congrats on establishing a credit profile at such a young age. You currently have some good cards in your arsenal. As far as what to apply for. I would hold off until the scores climb up a little bit more towards 640 and higher. Reason being is that you just don't want to apply to get a card. You also want to qualify for the best terms and SUB. And if your goal is to establish strong relationships with a specific lender of choice, it's best to show them first that you are able to manage credit. Your scores alone are just one factor in the approval process. Your age, income, and other factors would also come into play, the more history you put into your existing accounts, (e.g. On time payments, usage history, reduced inquiries) the better odds of getting approved for a prime credit card.

Re: New credit file What cards should I apply for and in what order?

Anonymous — Mon, 16 Jul 2018 17:29:14 GMT

Thank you for the reply. Once my numbers hit 640 what cards should I consider to apply for first? I'm trying to create a spreadsheet and I will apply once numbers hit a certain threshhold.

Re: New credit file What cards should I apply for and in what order?

Anonymous — Mon, 16 Jul 2018 17:32:59 GMT

Thank you and I applied but they require additional proof of residency I cannot get due to my student status.

Re: New credit file What cards should I apply for and in what order?

Anonymous — Mon, 16 Jul 2018 17:33:31 GMT

Yes I have tried for CLI and nothing is approved yet

Re: New credit file What cards should I apply for and in what order?

Anonymous — Mon, 16 Jul 2018 17:36:02 GMT

Discover seems to be a great starter card for most of us who has a thin file. If you are a student, you can apply for their Student card and gradually build some history with 3 cards reporting, and as your profile gets stronger and your scores higher, then you can try for other prime lenders such as Chase, AMEX, Citibank etc.

Re: New credit file What cards should I apply for and in what order?

Anonymous — Mon, 16 Jul 2018 17:36:36 GMT

@Anonymous wrote:
Thank you and I applied but they require additional proof of residency I cannot get due to my student status.

What did you app for?

Re: New credit file What cards should I apply for and in what order?

Anonymous — Mon, 16 Jul 2018 17:45:53 GMT

@Anonymous wrote:
Thank you and I applied but they require additional proof of residency I cannot get due to my student status.

Assuming its discover, what documents did they ask you. If you have a banking acc, set it to your current address and use that as your proof of address. You can use your Driver's License as well.

Re: New credit file What cards should I apply for and in what order?

Anonymous — Mon, 16 Jul 2018 18:57:46 GMT

I goto to school in one state and my home of record for my credit file and all account is in another. They wanted proof documendation from my Alabama School home but I don't have it since it's all in my Parents name.

Re: New credit file What cards should I apply for and in what order?

Anonymous — Mon, 16 Jul 2018 19:14:31 GMT

@Anonymous wrote:
I goto to school in one state and my home of record for my credit file and all account is in another. They wanted proof documendation from my Alabama School home but I don't have it since it's all in my Parents name.

Ok correct me if I understood it incorrectly. Your actual home is in alabama and you study in a different state. If that's the case, what I'm suggesting is that you use your home address as the address for the application which I'm assuming your driver's license would have. Use that as your proof of address and then as your parents to ship the card to you once it arrives. Also, not just driver's license health insurance, car insurance, bank account statements(possibly) can also be used.

Also, I was living at my friend's place for a few months when I apped for my first card which was discover. I was requested similarly for proof of residence. So, I changed the address on my chase bank acc and used it or I changed the address on my DL using the bank statement with the new address( Sorry don't remember exactly). You can try eitherways as well for proof of residence. First being the statement, if not accepted, using the DL with the new address. I'm hoping this would work in your case because people moving to new paces is a common occurence and I assume banks would have some sort of way to resolve issues with change of addresses.

Re: New credit file What cards should I apply for and in what order?

Anonymous — Tue, 17 Jul 2018 14:29:22 GMT

I guess it's more of an ID issue, and I'm working on gettin getting it worked out here.

Re: New credit file What cards should I apply for and in what order?

joltdude — Tue, 17 Jul 2018 15:20:44 GMT

Its' very likely youll get it if you can get the ID issue sorted...

Discover is pretty good about that.. Curious.. did you apply for a student version or the regular version of the card?

-J

Re: New credit file What cards should I apply for and in what order?

Anonymous — Tue, 17 Jul 2018 15:28:06 GMT

Well get the ID sorted. Discover is pretty flexible regarding that, as per my memory. Let us know how everything works.

@Anonymous wrote:
I guess it's more of an ID issue, and I'm working on gettin getting it worked out here.

Re: New credit file What cards should I apply for and in what order?

Shooting-For-800 — Wed, 18 Jul 2018 15:22:30 GMT

I would not apply for anything until you are prequalified for a Cap One QuickSilver or Savor not QS1 with no fee or a Discover It card.

Inquires with a thin file can really hurt you.

GL.

Re: New credit file What cards should I apply for and in what order?

Anonymous — Thu, 19 Jul 2018 02:54:20 GMT

Thanks I'm currently resting, and using/paying off what I have. My father adding me to his Chase Credit Card and it's around 3-4 years old account. I'm buying a few items on my fingurehut account, and paying off the balance. Same goes for my 3 cards and staying around 10% usage or less. By end of August I should be getting close the the 650 range.

Re: New credit file What cards should I apply for and in what order?

xaximus — Thu, 19 Jul 2018 13:01:36 GMT

I would wait and let your accounts age a bit. If anything, I would apply for the Discover card and then grow that for a bit. With a relatively thin file, each inquiry is going to hurt. I suggest using them wisely. I would give atleast 6m to a 1year between each inquiry so each impacts less and less. PIF and do AZEO to keep raising your score as well. You have a great start!