topic Re: No credit history.... in Credit Cards

No credit history....

chucky1234 — Mon, 11 Mar 2013 01:00:52 GMT

Hello everyone, I just arrived to the US a few months ago and just applied for the Cap One Secured Mastercard and was approved for $200. My husband has added me as AU on his Victoria Secret and Limited CC. Should I wait for a few months to apply for the unsecured credit cards or should I apply now? I hear some folks applying for the Discover IT and Chase card and getting approved with no or limited credit history. Any advise?

Re: No credit history....

myjourney — Mon, 11 Mar 2013 01:04:41 GMT

How long have you been an AU?

How are you husbands scores and are balances low on existing cards?

@chucky1234 wrote:
Hello everyone, I just arrived to the US a few months ago and just applied for the Cap One Secured Mastercard and was approved for $200. My husband has added me as AU on his Victoria Secret and Limited CC. Should I wait for a few months to apply for the unsecured credit cards or should I apply now? I hear some folks applying for the Discover IT and Chase card and getting approved with no or limited credit history. Any advise?

Re: No credit history....

Anonymous — Mon, 11 Mar 2013 01:08:32 GMT

Wait til you get at least 6 months of revolving credit history before apping for Discover and wait til you get 1 year of history til you go for the Chase Freedom.

Re: No credit history....

chucky1234 — Mon, 11 Mar 2013 01:10:49 GMT

@myjourney wrote:
How long have you been an AU?
How are you husbands scores and are balances low on existing cards?
@chucky1234 wrote:
Hello everyone, I just arrived to the US a few months ago and just applied for the Cap One Secured Mastercard and was approved for $200. My husband has added me as AU on his Victoria Secret and Limited CC. Should I wait for a few months to apply for the unsecured credit cards or should I apply now? I hear some folks applying for the Discover IT and Chase card and getting approved with no or limited credit history. Any advise?

I have been an AU on his accounts for about 1 month ago and his balances are with low balances.

Not sure why my husbands scores would matter? Just curious?

Re: No credit history....

myjourney — Mon, 11 Mar 2013 01:20:08 GMT

His score will also affect you as an AU Wait 7 months to a year and you should be in good shape.

Good Luck

@chucky1234 wrote:
@myjourney wrote:
How long have you been an AU?
How are you husbands scores and are balances low on existing cards?
@chucky1234 wrote:
Hello everyone, I just arrived to the US a few months ago and just applied for the Cap One Secured Mastercard and was approved for $200. My husband has added me as AU on his Victoria Secret and Limited CC. Should I wait for a few months to apply for the unsecured credit cards or should I apply now? I hear some folks applying for the Discover IT and Chase card and getting approved with no or limited credit history. Any advise?

I have been an AU on his accounts for about 1 month ago and his balances are with low balances.
Not sure why my husbands scores would matter? Just curious?

Re: No credit history....

webhopper — Mon, 11 Mar 2013 01:30:48 GMT

@myjourney wrote:
His score will also affect you as an AU Wait 7 months to a year and you should be in good shape.
Good Luck
@chucky1234 wrote:
@myjourney wrote:
How long have you been an AU?
How are you husbands scores and are balances low on existing cards?
@chucky1234 wrote:
Hello everyone, I just arrived to the US a few months ago and just applied for the Cap One Secured Mastercard and was approved for $200. My husband has added me as AU on his Victoria Secret and Limited CC. Should I wait for a few months to apply for the unsecured credit cards or should I apply now? I hear some folks applying for the Discover IT and Chase card and getting approved with no or limited credit history. Any advise?

I have been an AU on his accounts for about 1 month ago and his balances are with low balances.
Not sure why my husbands scores would matter? Just curious?

Sorry I have to speak up here... His SCORE itself will not affect you, but what will effect you is the payment history on those account on which he adds you as an AU. If he has other accounts that you are not AU on, they will not affect you.

As long as the account has a low balance, or zero balance, and as long as the account has no negatives such as missed payments, then it will be fine you can only benefit

Re: No credit history....

myjourney — Mon, 11 Mar 2013 01:32:30 GMT

@webhopper wrote:
@myjourney wrote:
His score will also affect you as an AU Wait 7 months to a year and you should be in good shape.
Good Luck
@chucky1234 wrote:
@myjourney wrote:
How long have you been an AU?
How are you husbands scores and are balances low on existing cards?
@chucky1234 wrote:
Hello everyone, I just arrived to the US a few months ago and just applied for the Cap One Secured Mastercard and was approved for $200. My husband has added me as AU on his Victoria Secret and Limited CC. Should I wait for a few months to apply for the unsecured credit cards or should I apply now? I hear some folks applying for the Discover IT and Chase card and getting approved with no or limited credit history. Any advise?

I have been an AU on his accounts for about 1 month ago and his balances are with low balances.
Not sure why my husbands scores would matter? Just curious?

Sorry I have to speak up here... His SCORE itself will not affect you, but what will effect you is the payment history on those account on which he adds you as an AU. If he has other accounts that you are not AU on, they will not affect you.
As long as the account has a low balance, or zero balance, and as long as the account has no negatives such as missed payments, then it will be fine you can only benefit

I stand corrected

Re: No credit history....

Anonymous — Mon, 11 Mar 2013 02:34:59 GMT

The primary's score should not affect an AU score. Everyone's profile is individual to them. The only time his would make a difference is on a joint application.

What will affect your score are his usage and payment history on the cards. Generally speaking, for most known "prime" bank's unsecured products, you want at least six months history (referring to your Chase and Discover reference). Some others may approve you for lower limits (like store cards). I would suggest taking care of your current line for 6 months or so before trying.

Good luck!

Re: No credit history....

chucky1234 — Mon, 11 Mar 2013 01:53:38 GMT

@Anonymous wrote:
The primary's score should not affect an AU score. Everyone's profile is individual to them. The only time his would make a difference is on a joint application.

What will affect your score are his usage and payment history on the cards. Generally speaking, for most known "prime" bank's unsecured products, you want at least six months history (referring to you your Chase and Discover reference). Some others may approve you for lower limits (like store cards). I would suggest taking care of your current line for 6 months or so before trying.

Good luck!

Great, thank you!

One last question how long before my credit reports generate a fico score? Anybody?

Re: No credit history....

Anonymous — Mon, 11 Mar 2013 02:07:42 GMT

You may want to apply for Capital One Newcomers.

Re: No credit history....

Revelate — Mon, 11 Mar 2013 02:07:48 GMT

@chucky1234 wrote:
@Anonymous wrote:
The primary's score should not affect an AU score. Everyone's profile is individual to them. The only time his would make a difference is on a joint application.

What will affect your score are his usage and payment history on the cards. Generally speaking, for most known "prime" bank's unsecured products, you want at least six months history (referring to you your Chase and Discover reference). Some others may approve you for lower limits (like store cards). I would suggest taking care of your current line for 6 months or so before trying.

Good luck!
Great, thank you!

One last question how long before my credit reports generate a fico score? Anybody?

Six months history reported on any tradeline (credit card, auto loan, mortgage, student loan, etc). After the sixth month is reported to the bureaus, you should be able to get a FICO score generated.

Re: No credit history....

chucky1234 — Mon, 11 Mar 2013 02:27:08 GMT

@Anonymous wrote:
You may want to apply for Capital One Newcomers.

Which card is this one? I already have a Cap One secured Mastercard with them. Will they approve another one?

Re: No credit history....

Anonymous — Mon, 11 Mar 2013 02:32:42 GMT

Yes, they will approve you for more than one card. Go to Cap One's site and search for exactly that - "Capital One for Newcomers" in their search bar.

Re: No credit history....

Anonymous — Mon, 11 Mar 2013 02:36:43 GMT

@chucky1234 wrote:
@Anonymous wrote:
You may want to apply for Capital One Newcomers.
Which card is this one? I already have a Cap One secured Mastercard with them. Will they approve another one?

Yes they expect you to apply for a unsecured card with them after you have built some good history with them on the secured card. That history carries a lot of weight in the aproval and the CL. So don't apply too soon.

Re: No credit history....

Anonymous — Mon, 11 Mar 2013 02:58:47 GMT

My wife came to US only 5 months. I added her as my authorized user and applied Capital One Newcomers, got instant approved for $500. She never had any credit card or securred card, this is her first credit card. APR is 24.99% but no annual fee, spend $50 to $100 a month and pay it off. Good way to build credit and get 1% cash back too. After 3 months with this card, she applied for AMEX BCE and got approved for $2000.

Re: No credit history....

chucky1234 — Mon, 11 Mar 2013 03:13:22 GMT

@Anonymous wrote:
My wife came to US only 5 months. I added her as my authorized user and applied Capital One Newcomers, got instant approved for $500. She never had any credit card or securred card, this is her first credit card. APR is 24.99% but no annual fee, spend $50 to $100 a month and pay it off. Good way to build credit and get 1% cash back too. After 3 months with this card, she applied for AMEX BCE and got approved for $2000.

Wow...thats pretty good. I thought AMEX was hard to get with limited credit history. What were her scores?

Re: No credit history....

Anonymous — Mon, 11 Mar 2013 03:25:09 GMT

She also got approved for AMEX PRG last month. I never check her FICO, but creditkarma is 646 right now, 715 before AMEX BCE reported. She got denied for Chase Freedom because credit history is less than a year. Barclay NFL denied her 3 times for no/limited credit history, many inquires, yuck, wasted 3 hard pulls.

Re: No credit history....

TiggerDat — Mon, 11 Mar 2013 03:28:00 GMT

Being an AU only helps if they have your social security number and report AUs to credit bureaus.