Best Card for 10-12 Month Credit History

Anonymous · ‎02-18-2016

Hi! I'm new to the credit scene, and after following a few tips on here, I've built some decent scores. I want to get a nice travel rewards card with a good starting CL, however, I'm not sure where to start. I just applied for a new NFCU account, and I am leaning towards opening a rewards card with them, if they'll have me. Any advice on who will deal with me, with only 1 year of stellar credit history? I do have quite a few (avg. 11) inquiries, due to everyone declining me in the beginning of my journey. Thanks

Anonymous · ‎02-18-2016

I'll say apply with NFCU. I just skits recently got approved for their Cash Rewards card at at 8200 limit at 15.2% give or take. I had an Equifax score of 625 and figured I'd give it a go. I had just had a couple of negative accounts drop off but still showed 2 along with 2 collections showing, 1 paid and one being paid on reporting as unpaid. It's quite an accomplishment for me and the highest limit I have ever had. It might not have hurt that I had 6500 in my checking account on there. Heck, I can't even remember if they asked for employment or income. I think they did, but not sure. Go for cash rewards as I'm not even sure what you can do with the nRewards besides using it in their mall which might not be a bad thing.

Anonymous · ‎02-18-2016

Thanks! My Cap1 cards have the same rewards as the cash rewards, but the Flagship Rewards sounds GREAT! I wonder what the requirements are for that?!

Anonymous · ‎02-18-2016

Not sure but I never thought I'd get approved and never thought I'd get that limit. No limit on cash back and apparently you can claim it pretty soon after purchases are made. Seems like a great way to either put it in savings to draw a tiny amount of interest or save it for a special purchase. Apply for it and see what happens, you never know the outcome.

SecretAzure · ‎02-19-2016

For someone new to credit I'd have to say Amex. The 3X credit limit increase in just a couple months (maybe less depending on who you ask) is HUGE. If you get approved for $3K, you can have $9K soon after and you suddenly become more trustable to all the lenders. That's when all the good mailers start to roll in.

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Anonymous · ‎02-22-2016

@SecretAzure wrote:
For someone new to credit I'd have to say Amex. The 3X credit limit increase in just a couple months (maybe less depending on who you ask) is HUGE. If you get approved for $3K, you can have $9K soon after and you suddenly become more trustable to all the lenders. That's when all the good mailers start to roll in.

So, my short credit history wouldn't immediately disqualify me for Amex? Do you think it's a good thing that I'm already in as an AU?

Anonymous · ‎02-22-2016

i would go with Cap1

Anonymous · ‎02-22-2016

Thanks guys, for the responses! Now hopefully there will be a strange story about someone getting approved with Amex with my similar stats! ha!

Anonymous · ‎02-24-2016

@Anonymous wrote:
I'll say apply with NFCU. I just skits recently got approved for their Cash Rewards card at at 8200 limit at 15.2% give or take. I had an Equifax score of 625 and figured I'd give it a go. I had just had a couple of negative accounts drop off but still showed 2 along with 2 collections showing, 1 paid and one being paid on reporting as unpaid. It's quite an accomplishment for me and the highest limit I have ever had. It might not have hurt that I had 6500 in my checking account on there. Heck, I can't even remember if they asked for employment or income. I think they did, but not sure. Go for cash rewards as I'm not even sure what you can do with the nRewards besides using it in their mall which might not be a bad thing.

Well! I pulled the trigger with NFCU!!! I app'd for the goRewards... $5,500 SIGGY!!! I app'd for checking LOC, and I asked for $4,500 and GOT IT!!! WOOP! In less than 1 year, I've gained access to over $20k. I'm high-tailing it to the garden for a while! Thank you so much for your insight!