topic Re: So I finally got a credit score... (FAKO) in Credit Cards

So I finally got a credit score... (FAKO)

charleeislegend — Sat, 29 Sep 2012 23:25:42 GMT

So my credit score finally came in, I have 764 on credit karma, with 4 months of history on my AMEX, and 2 months on my Chase Sapphire. I know i should garden more, but with my credit score i have such a hard itch to app. Should i pull the trigger even though my history is so young?! I want to app for citi forward, and discover IT, and maybe freedom.

Re: So I finally got a credit score... (FAKO)

LS2982 — Sat, 29 Sep 2012 23:27:06 GMT

@charleeislegend wrote:
So my credit score finally came in, I have 764 on credit karma, with 4 months of history on my AMEX, and 2 months on my Chase Sapphire. I know i should garden more, but with my credit score i have such a hard itch to app. Should i pull the trigger even though my history is so young?! I want to app for citi forward, and discover IT, and maybe freedom.

No, I would wait until your accounts are 6 months old and you can pull a true FICO score. After that, I would pick up just 1 card and garden for a year.

Re: So I finally got a credit score... (FAKO)

charleeislegend — Sat, 29 Sep 2012 23:29:16 GMT

its just ive been reading on other credit forums people getting these cards after only two months of history, its making me so jealous! I just want a card for myself instead of sharing as an AU and Joint with the girlfriend.

Re: So I finally got a credit score... (FAKO)

maiden_girl — Sat, 29 Sep 2012 23:30:54 GMT

@LS2982 wrote:
@charleeislegend wrote:
So my credit score finally came in, I have 764 on credit karma, with 4 months of history on my AMEX, and 2 months on my Chase Sapphire. I know i should garden more, but with my credit score i have such a hard itch to app. Should i pull the trigger even though my history is so young?! I want to app for citi forward, and discover IT, and maybe freedom.
No, I would wait until your accounts are 6 months old and you can pull a true FICO score. After that, I would pick up just 1 card and garden for a year.

Based on the signature...the OP is an AU on some accounts. Credit karma may not be a true FICO score but the real FICO is somewhere in that vicinity...much lower than credit karma really says. But I do agree with LS2982. I'd wait until your personal accounts are at least a year before opening any new credit.

Re: So I finally got a credit score... (FAKO)

jamie123 — Sat, 29 Sep 2012 23:31:59 GMT

I would wait until I had 6 months of history on the first card at least, but that is just me. Usually approvals are based on 2 criteria, scores AND history. Your scores qualify you for almost any card you want. Your history on the other hand....Well, you know...

Re: So I finally got a credit score... (FAKO)

LS2982 — Sat, 29 Sep 2012 23:34:29 GMT

@jamie123 wrote:
I would wait until I had 6 months of history on the first card at least, but that is just me. Usually approvals are based on 2 criteria, scores AND history. Your scores qualify you for almost any card you want. Your history on the other hand....Well, you know...

OP's FICO at 6 months is likely to be at high 600's / low 700's so not quite any card they want, but some nice prime ones will be available.

Re: So I finally got a credit score... (FAKO)

maiden_girl — Sat, 29 Sep 2012 23:35:55 GMT

@LS2982 wrote:
@jamie123 wrote:
I would wait until I had 6 months of history on the first card at least, but that is just me. Usually approvals are based on 2 criteria, scores AND history. Your scores qualify you for almost any card you want. Your history on the other hand....Well, you know...
OP's FICO at 6 months is likely to be at high 600's / low 700's so not quite any card they want, but some nice prime ones will be available.

Score wise, OP would qualify for a number of cards...BUT...will be denied due to limited history. I don't believe they count AU history during credit applications do they?

Re: So I finally got a credit score... (FAKO)

charleeislegend — Sat, 29 Sep 2012 23:37:10 GMT

I believe they can only know that my AMEX is an AU account if they do a manual review, lets just hope when i apply i get instant approvals!

Re: So I finally got a credit score... (FAKO)

LS2982 — Sat, 29 Sep 2012 23:37:39 GMT

@maiden_girl wrote:
@LS2982 wrote:
@jamie123 wrote:
I would wait until I had 6 months of history on the first card at least, but that is just me. Usually approvals are based on 2 criteria, scores AND history. Your scores qualify you for almost any card you want. Your history on the other hand....Well, you know...
OP's FICO at 6 months is likely to be at high 600's / low 700's so not quite any card they want, but some nice prime ones will be available.

Score wise, OP would qualify for a number of cards...BUT...will be denied due to limited history. I don't believe they count AU history during credit applications do they?

Not really, they are more interested in what the applicant has done on their own.

Re: So I finally got a credit score... (FAKO)

charleeislegend — Sat, 29 Sep 2012 23:39:25 GMT

@LS2982 wrote:
@maiden_girl wrote:
@LS2982 wrote:
@jamie123 wrote:
I would wait until I had 6 months of history on the first card at least, but that is just me. Usually approvals are based on 2 criteria, scores AND history. Your scores qualify you for almost any card you want. Your history on the other hand....Well, you know...
OP's FICO at 6 months is likely to be at high 600's / low 700's so not quite any card they want, but some nice prime ones will be available.

Score wise, OP would qualify for a number of cards...BUT...will be denied due to limited history. I don't believe they count AU history during credit applications do they?

Not really, they are more interested in what the applicant has done on their own.

question on this, does this mean they will also not count my joint account as highly as a single account would?

Re: So I finally got a credit score... (FAKO)

maiden_girl — Sat, 29 Sep 2012 23:44:26 GMT

@charleeislegend wrote:
@LS2982 wrote:
@maiden_girl wrote:
@LS2982 wrote:
@jamie123 wrote:
I would wait until I had 6 months of history on the first card at least, but that is just me. Usually approvals are based on 2 criteria, scores AND history. Your scores qualify you for almost any card you want. Your history on the other hand....Well, you know...
OP's FICO at 6 months is likely to be at high 600's / low 700's so not quite any card they want, but some nice prime ones will be available.

Score wise, OP would qualify for a number of cards...BUT...will be denied due to limited history. I don't believe they count AU history during credit applications do they?

Not really, they are more interested in what the applicant has done on their own.

question on this, does this mean they will also not count my joint account as highly as a single account would?

AU is different from a Joint account. AU means you are a authorized user on the primary account holders credit account but have no payment responsibilities. As with a Joint Account...you are both legally responsibly for maintaining the account and the account is in both of your names. AU history does not count on a credit application.

Re: So I finally got a credit score... (FAKO)

LS2982 — Sat, 29 Sep 2012 23:46:42 GMT

@maiden_girl wrote:
@charleeislegend wrote:
@LS2982 wrote:
@maiden_girl wrote:
@LS2982 wrote:
@jamie123 wrote:
I would wait until I had 6 months of history on the first card at least, but that is just me. Usually approvals are based on 2 criteria, scores AND history. Your scores qualify you for almost any card you want. Your history on the other hand....Well, you know...
OP's FICO at 6 months is likely to be at high 600's / low 700's so not quite any card they want, but some nice prime ones will be available.

Score wise, OP would qualify for a number of cards...BUT...will be denied due to limited history. I don't believe they count AU history during credit applications do they?

Not really, they are more interested in what the applicant has done on their own.

question on this, does this mean they will also not count my joint account as highly as a single account would?
AU is different from a Joint account. AU means you are a authorized user on the primary account holders credit account but have no payment responsibilities. As with a Joint Account...you are both legally responsibly for maintaining the account and the account is in both of your names. AU history does not count on a credit application.

Agree with above poster. Your joint account will count just as much as a normal account in your name.

Re: So I finally got a credit score... (FAKO)

adavis425 — Sat, 29 Sep 2012 23:51:27 GMT

@maiden_girl wrote:
@LS2982 wrote:
@charleeislegend wrote:
So my credit score finally came in, I have 764 on credit karma, with 4 months of history on my AMEX, and 2 months on my Chase Sapphire. I know i should garden more, but with my credit score i have such a hard itch to app. Should i pull the trigger even though my history is so young?! I want to app for citi forward, and discover IT, and maybe freedom.
No, I would wait until your accounts are 6 months old and you can pull a true FICO score. After that, I would pick up just 1 card and garden for a year.

Based on the signature...the OP is an AU on some accounts. Credit karma may not be a true FICO score but the real FICO is somewhere in that vicinity...much lower than credit karma really says. But I do agree with LS2982. I'd wait until your personal accounts are at least a year before opening any new credit.

It doesn't look as if OP has any accounts on his own. If I were him, I would get one on my own and then garden.

Re: So I finally got a credit score... (FAKO)

jamie123 — Sun, 30 Sep 2012 00:02:05 GMT

Okay, why don't you just throw caution to the wind and apply for something?

Really, we seem to be a bit conservative in are advice at times. You really aren't going to do much damage to your scores if you are declined so pick a card and apply for it. How about the Chase Freedom?

Go for it! You certainly won't get it if you don't apply for it! Stay away from AMEX for the moment but apply for the Chase Freedom.

What's the worse that can happen? You get denied and have to wait a couple more months like we are telling you anyway. Go for it!

Stop back and let us know how it goes! I think you have a good shot at approval. Go for it!

Re: So I finally got a credit score... (FAKO)

LS2982 — Sun, 30 Sep 2012 00:19:33 GMT

@jamie123 wrote:
Okay, why don't you just throw caution to the wind and apply for something?

Really, we seem to be a bit conservative in are advice at times. You really aren't going to do much damage to your scores if you are declined so pick a card and apply for it. How about the Chase Freedom?

Go for it! You certainly won't get it if you don't apply for it! Stay away from AMEX for the moment but apply for the Chase Freedom.

What's the worse that can happen? You get denied and have to wait a couple more months like we are telling you anyway. Go for it!

Stop back and let us know how it goes! I think you have a good shot at approval. Go for it!

I definitely would not app for Chase. They are going to want 1 year of good history on at least 1 card.

I would go for Cap1 if anything.

Re: So I finally got a credit score... (FAKO)

maiden_girl — Sun, 30 Sep 2012 00:23:51 GMT

@LS2982 wrote:
@jamie123 wrote:
Okay, why don't you just throw caution to the wind and apply for something?

Really, we seem to be a bit conservative in are advice at times. You really aren't going to do much damage to your scores if you are declined so pick a card and apply for it. How about the Chase Freedom?

Go for it! You certainly won't get it if you don't apply for it! Stay away from AMEX for the moment but apply for the Chase Freedom.

What's the worse that can happen? You get denied and have to wait a couple more months like we are telling you anyway. Go for it!

Stop back and let us know how it goes! I think you have a good shot at approval. Go for it!
I definitely would not app for Chase. They are going to want 1 year of good history on at least 1 card.

I would go for Cap1 if anything.

Agree with above poster. Chase is very conservative. I'd go for Cap1 as well. They approve practically everything. Lol.

Re: So I finally got a credit score... (FAKO)

charleeislegend — Sun, 30 Sep 2012 00:27:21 GMT

going from chase sapphire to a cap 1 card?! i dont think so! im thinking of going for citi forward or discover

Re: So I finally got a credit score... (FAKO)

jamie123 — Sun, 30 Sep 2012 00:28:47 GMT

@LS2982 wrote:

I definitely would not app for Chase. They are going to want 1 year of good history on at least 1 card.

I would go for Cap1 if anything.

I tend to agree with you, but the OP wants prime. The only way he is going to find out if he can get prime is if he applies for it. I think he would have better than a 50% chance at it, certainly not guaranteed.

If he doesn't get it, he can stop back and might be more amicable when we suggest the Cap1 and Walmart route to good credit history building.

Re: So I finally got a credit score... (FAKO)

LS2982 — Sun, 30 Sep 2012 00:38:17 GMT

@jamie123 wrote:
@LS2982 wrote:

I definitely would not app for Chase. They are going to want 1 year of good history on at least 1 card.

I would go for Cap1 if anything.

I tend to agree with you, but the OP wants prime. The only way he is going to find out if he can get prime is if he applies for it. I think he would have better than a 50% chance at it, certainly not guaranteed.

If he doesn't get it, he can stop back and might be more amicable when we suggest the Cap1 and Walmart route to good credit history building.

Yea i'd hate to see the guy burn a HP when I did the same and they gave me the same reasoning.

Re: So I finally got a credit score... (FAKO)

LS2982 — Sun, 30 Sep 2012 00:39:25 GMT

@charleeislegend wrote:
going from chase sapphire to a cap 1 card?! i dont think so! im thinking of going for citi forward or discover

If you let both of your account age to 6 months Discover might bite on your app.