Credit card approval (credit score based on Authorized User only)

[Anonymous]

Hi everyone,

I tried applying to several entry level credit cards (unsecured) and couldn't get approved (Chase, Amex etc.)

I'm a new immigrant (received my social security card about a month ago) and my credit score of 750 is only based on my being an Authorized User on my wife's credit card. When checking my credit score, it says that my credit history lenght is about 1 year and 7 months (same as my wife's as she got her credit card then).

What do you think the problem is, despite a good credit score and a high income?

I can see two options:

1) My status as a new green card holder with a recent social security card.

2) My credit score (despite being good) is only based on me being an Authorized User on my wife's credit card.

Any help in understand this would be greatly appreciated.

PS: I applied for a secured credit card with Capital One and it seems like I will be approved (they just asked me copies of my ID documents).

[Anonymous]

2) My credit score (despite being good) is only based on me being an Authorized User on my wife's credit card.

This would be the issue, it's not your card and the lenders can see that. Most algorithms ignore it when looking through your profile. Having only one account, especially with that one account being an AU, makes it hard to get in with prime lenders.

[M_Smart007]

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@Anonymous wrote:

Hi everyone,

I tried applying to several entry level credit cards (unsecured) and couldn't get approved (Chase, Amex etc.)

I'm a new immigrant (received my social security card about a month ago) and my credit score of 750 is only based on my being an Authorized User on my wife's credit card. When checking my credit score, it says that my credit history lenght is about 1 year and 7 months (same as my wife's as she got her credit card then).

What do you think the problem is, despite a good credit score and a high income?

I can see two options:

1) My status as a new green card holder with a recent social security card.

2) My credit score (despite being good) is only based on me being an Authorized User on my wife's credit card.

Any help in understand this would be greatly appreciated.

PS: I applied for a secured credit card with Capital One and it seems like I will be approved (they just asked me copies of my ID documents).

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@Anonymous  Hi and Welcome to the forums.

Unfortunately with no real credit history other than being a AU on on your wife's card,

You are going to have to go the secured route. I would suggest a Discover card as well, it will graduate,

to unsecured and you get rewards. Try to get cards that will un-secure.

 I would probably try to get three cards total and let them age together, ..after about 7 months to a years time of good use,

You would be eligible for being un-secured, and possibly another card or two. This is something that just takes time.

All JMHO and others might have some better advice for you.

[Anonymous]

Agreed with the above replies. I'll note though that amex and Chase aren't really entry level cards.

[ChargedUp]

For what it's worth, if you're going for a secured card you could probably get any secured card out there. Discover is a great card as said above, and there are other banks like Citi and Bank Of America that offer secured cards as well. Research what will suit you best before jumping in with Capital One.

(The main reason I say this is that Cap One has been a little unpredictable as of recently. Once your card "graduates", Cap One will usually allow you to upgrade your account to Quicksilver not long afterwards, but they've been making quite a few changes so who knows if this will even be possible in the future. Citi, BoA and most others seem to be a little more stable in allowing product transfers once your card is no longer secured. This allows you to keep your existing account while beginning to earn rewards from it. Also keep in mind that "starter" cards from Cap One tend to grow glacially, if at all. BoA, Citi, Discover and most anyone else will not "bucket" your card in this manner and you can grow your credit limits as your credit profile grows. Just my 2 cents.

[KJinNC]

Discover secured

Self Lender secured installment loan (or any secured installment loan that reports to all three bureaus, if you have a lender you prefer dealing with)

Two months

And you will probably be able to get some stuff. Discover can unsecure after 7 statements.

[CYBERSAM]

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@Anonymous wrote:

Hi everyone,

I tried applying to several entry level credit cards (unsecured) and couldn't get approved (Chase, Amex etc.)

I'm a new immigrant (received my social security card about a month ago) and my credit score of 750 is only based on my being an Authorized User on my wife's credit card. When checking my credit score, it says that my credit history lenght is about 1 year and 7 months (same as my wife's as she got her credit card then).

What do you think the problem is, despite a good credit score and a high income?

I can see two options:

1) My status as a new green card holder with a recent social security card.

2) My credit score (despite being good) is only based on me being an Authorized User on my wife's credit card.

Any help in understand this would be greatly appreciated.

PS: I applied for a secured credit card with Capital One and it seems like I will be approved (they just asked me copies of my ID documents).

---

All you need is one CC or loan, then you'll get bunch of preapproved CC offers in your mail after 6 months.

You can try your local Credit Union and, or secure Card from them. So you can establish relationship with them for future.

Your starting credit score is excelent, don't try to apply for too many CCs and bring your score down.

[Phoenixupward]

You should try to obtain an unsecured credit card from Open Sky.  There's no credit check. It doesn't graduate but it will get your thin file thicker.  Once the card begins to report, try to obtain a retail card from comenity bank via SCT (shopping cart trick).  Sign in as a guest, place about 100 dollars worth of products in the cart and proceed to check out.  Enter your address as it appears on your credit report and a pop up will appear for a pre-approval retail card. This works for stores like Victoria Secret, Overstock.  Comenity has over 90 stores.  Also, add a self lender loan which will help diversify your credit mix and aid in optimizing your FICO score.  Good luck.