18 Year Old Student with some credit history, recommendations?

[Anonymous]

Hey there. I look over these forums often but decided to sign up today.

I'm 18, will be 19 in a couple months, and I am going to college.

I currently have a Wells Fargo college card with a $500 limit which I was approved for right when I opened my bank account with them. I have had it coming on 8 months now, no late payments. I also applied for a Capital One Student card last month, got denied and called the EO. She let me know today that I was approved for a $300 card. Not great but better than nothing.

I have 4 hard inqs on my credit report (2 from the cards above, other two from Comcast and T-Mobile, so not sure if lenders look at those.)

I was wondering what are some good options to look for next? I am pretty responsible with my cards, just looking to build up my credit so I have a pretty solid history by the time I'm done with school.

Thank you!

[Anonymous]

@derginia,

Welcome to the forum.. Since you have a pretty thin file what are your FICO scores?  Do you know them?  Also, look into Discover also as they have some student cards..

[Anonymous]

Hey, I don't know my FICO score, but according to Credit Karma, Transunion and Equifax are at 678.

And I was actually looking at the Discover student card. I want to apply, but I was going to wait until I researched some more.

[Anonymous]

Discover is a terrific recommendation right now. They love fresh clean files.

Then after 6 months of on time payments, put in for Amex.

[Anonymous]

That sounds good then. Looking around I've seen some good things about them, I think I will apply.

[Anonymous]

Welcome, welcome...

I'd say you're doing pretty well so far. 18yo and two cc's with good payment history and score. I think the thing holding you back is probably income. Your file is thin, but rightfully so for your age. I've seen 19 year olds with their own 8k cards; I've even seen an 18yo with a 25k credit limit, but I can't be certain he/she wasn't an authorized user on the account. If you have any solid income you can report, it would likely help you along with qualifying for new credit. If not, just keep paying your bills and you'll be fine in the long run- and probably in the short run, too. 

[chalupaman]

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@Anonymous wrote:

Hey there. I look over these forums often but decided to sign up today.

I'm 18, will be 19 in a couple months, and I am going to college.

I currently have a Wells Fargo college card with a $500 limit which I was approved for right when I opened my bank account with them. I have had it coming on 8 months now, no late payments. I also applied for a Capital One Student card last month, got denied and called the EO. She let me know today that I was approved for a $300 card. Not great but better than nothing.

I have 4 hard inqs on my credit report (2 from the cards above, other two from Comcast and T-Mobile, so not sure if lenders look at those.)

I was wondering what are some good options to look for next? I am pretty responsible with my cards, just looking to build up my credit so I have a pretty solid history by the time I'm done with school.

Thank you!

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I'd go for an Amex revolver to establish your MSD. If you come across that 50k MR point, 1k spend offer on the PRG, you can also app for that charge card the same day you go for the revolver and they'll use the same HP. Discover might be good but if you're looking for CLs that are gonna grow quickly, they're not really as big on that sort of thing IMO.

Get in with Chase when you've had 11-12 months of credit history. Barclays also likes to see roughly a year and really work with WF and you might be able to get one of their Propel cards with enough time.

[chalupaman]

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@Anonymous wrote:

Welcome, welcome...

I'd say you're doing pretty well so far. 18yo and two cc's with good payment history and score. I think the thing holding you back is probably income. Your file is thin, but rightfully so for your age. I've seen 19 year olds with their own 8k cards; I've even seen an 18yo with a 25k credit limit, but I can't be certain he/she wasn't an authorized user on the account. If you have any solid income you can report, it would likely help you along with qualifying for new credit. If not, just keep paying your bills and you'll be fine in the long run- and probably in the short run, too. 

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I'm only 20 and actually had a card with a $17k limit and now have two cards with an $8k limit (I give Sams Club a lot of credit for that one). It is doable depending on how long you've had credit and how giving the lender can be. It's different for every lender. There's even a guy on here who's younger than I am but recently got his Amex up to the double digits.

[Anonymous]

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@chalupaman wrote:

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@Anonymous wrote:

Welcome, welcome...

I'd say you're doing pretty well so far. 18yo and two cc's with good payment history and score. I think the thing holding you back is probably income. Your file is thin, but rightfully so for your age. I've seen 19 year olds with their own 8k cards; I've even seen an 18yo with a 25k credit limit, but I can't be certain he/she wasn't an authorized user on the account. If you have any solid income you can report, it would likely help you along with qualifying for new credit. If not, just keep paying your bills and you'll be fine in the long run- and probably in the short run, too. 

---

I'm only 20 and actually had a card with a $17k limit and now have two cards with an $8k limit (I give Sams Club a lot of credit for that one). It is doable depending on how long you've had credit and how giving the lender can be. It's different for every lender. There's even a guy on here who's younger than I am but recently got his Amex up to the double digits.

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good job!

[Anonymous]

Thanks for the suggestions guys. I just applied for the Discover it, I wasn't given an answer instantly since I had to submit proof of enrollment but I hope that they get back to me with good news soon!

Yeah I probably won't be getting any big limits soon since I most likely won't be working til I'm done with school, I make money online and in person selling my art, but thats mostly just a side thing. But you never know, if I can find a job that works out with my hours I may go for it.

@popamode72

Those are some nice limits. I hope I'm able to get up there in a couple years For now I'm just happy building it up.