topic Re: Question for GF in Credit Cards

Question for GF

jcstarkey8826 — Wed, 05 Sep 2012 19:52:44 GMT

My gf is receiving offers in the mail from discover about every week. Her credit is average. She has never been late on anything and util is 0%, but doesnt have much history. student loans for a couple of years and a kohls card for about a year now.

She was thinking of apping for a wal mart card, big lots card, and discover. the store cards mainly to use for the 0% interest for 12 months, for our new apt. and the discover to get a nice revolver in her wallet to help build that way she'd have more payments reporting and start seeing some growth in her score.

I dont know what to advise her on this so Im asking you guys. Does this sound like a good idea for her. She said her score was around 687 fako, no negatives though.

Should she wait or do it now for maximum AAoA?

Re: Question for GF

Anonymous — Wed, 05 Sep 2012 20:00:58 GMT

I would suggest Walmart card, it comes with free FICO score and good in CLI.

Not sure about the chances with Discover but it is worth trying.

Re: Question for GF

jcstarkey8826 — Wed, 05 Sep 2012 20:03:59 GMT

@Anonymous wrote:
I would suggest Walmart card, it comes with free FICO score and good in CLI.

Not sure about the chances with Discover but it is worth trying.

Yeah, I was surprised they send her so much stuff. figured we'd try their pre approval site tonight and see what they said.

Re: Question for GF

lithium78 — Wed, 05 Sep 2012 20:05:06 GMT

Discover is a worthwhile card to have for all the bonuses, like the 5% categories and ShopDiscover. With her lack of history, they may start her out with a low CL (like $1000) and give her the 3.9% for six months and 20.9% afterward APR. As long as she has another card for regular use as well, it might be worth her time.

Re: Question for GF

jcstarkey8826 — Wed, 05 Sep 2012 20:33:39 GMT

she doesnt use credit cards. she has a kohls card for the discounts because we shop there for our work attire, but she always pays it off at the register. She is a smart responsible girle, and Im trying to help her and guide her to avoid my past mistakes at her age.

If the card was 1k limit, thatd be fine for her. she really just wants something with no AF, that could be useful right now (such as 0% promo rate), and things to help build a thicker file.

Re: Question for GF

Anonymous — Wed, 05 Sep 2012 22:34:54 GMT

@jcstarkey8826 wrote:
she doesnt use credit cards. she has a kohls card for the discounts because we shop there for our work attire, but she always pays it off at the register. She is a smart responsible girle, and Im trying to help her and guide her to avoid my past mistakes at her age.

If the card was 1k limit, thatd be fine for her. she really just wants something with no AF, that could be useful right now (such as 0% promo rate), and things to help build a thicker file.

I got discover card with 1500 CL at 8 month history. Give it a try if you have clean record and good income.

Re: Question for GF

webhopper — Wed, 05 Sep 2012 22:52:49 GMT

I like the idea of her applying for Discover and Chase Freedom or Amex Zync, and then applying for the Wal Mart or big lots card. major cards are better than retail cards.

Re: Question for GF

gettnthere — Wed, 05 Sep 2012 23:01:50 GMT

@webhopper wrote:
I like the idea of her applying for Discover and Chase Freedom or Amex Zync, and then applying for the Wal Mart or big lots card. major cards are better than retail cards.

+1, she definitely needs a major/national bank card

Re: Question for GF

jcstarkey8826 — Thu, 06 Sep 2012 00:28:04 GMT

Exactly. She just got off the phone with discover ad she was approved for 1k. Very excited for her she is debating on a store card to get or something with perks.

Re: Question for GF

Anonymous — Thu, 06 Sep 2012 00:40:12 GMT

@jcstarkey8826 wrote:
Exactly. She just got off the phone with discover ad she was approved for 1k. Very excited for her she is debating on a store card to get or something with perks.

Congratulations!!

Re: Question for GF

Jlu — Thu, 06 Sep 2012 03:08:29 GMT

My DGF was just approved for Discover More $1k with an AAoA of just 3 months but no baddies and 3 open revolving TL with 20% utilization and 4 inquiries. Told them she wants to establish a relationship with a prime lender.

Re: Question for GF

Razeus — Thu, 06 Sep 2012 03:29:05 GMT

Get the Chase Freedom card next.

Re: Question for GF

jcstarkey8826 — Thu, 06 Sep 2012 12:41:14 GMT

Should she apply for chase now? Or wait?

Re: Question for GF

Jlu — Thu, 06 Sep 2012 15:10:14 GMT

Wait for Discover to report. Chase will tend to match or beat Discover's limit.