First time credit card applicant, nervous!

[Anonymous]

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@Anonymous wrote:
I started this January to build my revolving credit...

First Card: Capital One Platinum (After 3 months Changed to Quicksilver) It has nice earning potential with 1.5% Cashback I'd Suggest: Platinum and trying to upgrade or going for QS.

Second Card: Amazon Chase. I'd Suggest: Amazon Version but if your not a Amazon shopper maybe you can check Chase prequal site

I also acquired the AMEX ED and BCE after I added some history. The BCE is my favorite card at the moment. My scores were 690-710 when I applied. I went through the prequal part of the site and picked up awesome sign up bonuses.

I did get a College Cash Back card from Wells Fargo. So if you want to it's worth a shot to talk to SunTrust for sure and see what they have to offer.

My scores didn't change much from the inquires and new accounts. They dropped a little then rebounded in the next month so I wouldn't worry about that too much.

Good Luck on whichever cars you pick!! 😃

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Thank you! This is all helpful, I'm really leaning towards Amex BCE or Discover, I'm just afraid of rejection! lol

When you applied for your first card, did you have a long credit history with other kinds of credit already? I have what I think is a decent amount of credit history with my student loans (average 6 yrs) so I wouldn't say I have a "thin" history, but maybe credit companies would consider a credit history thin if it's not specificallly with a credit card?

[Anonymous]

I had 0 history of any kind when I apped for my Chase Freedom Unlimited (now Freedom) in branch and was approved for $500 SL. I also have a banking relationship with them.

With whom do you bank? I would check our their offerings first, especially if you have been a long time banking client. Also, ditto to what everyone is saying about checking out Chase, Amazon, Citi pre-qualified offers. Discover pre-quals online are pretty much just marketing, not solid IMO.

[Anonymous]

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@Anonymous wrote:

Hi everyone. I've been reading the myFICO community boards for a while contemplating applying for a credit card. Been a little scared/nervous to even get one, but here I am. I've been asking friends and family for suggestions, but I'm not getting too much help from them, so I thought I ask here where I know I could get some good feedback. I'd really appreciate suggestions for a good first credit card, that I'd would likely get approved for, and also won't take a huge hit to my scores when applying. I was thinking about applying for either the Capital One Quicksilver or the Citi Double Cash because I wanted a rewards card. But the more I read about the hit people take from applying for the Capital One card, I don't know if it would be worth it, or if my scores are even good enough for that card. Should I apply for a secured card instead, and worry about rewards later?

Another piece I want to keep in mind, now that I'm actively monitoring my scores and credit reports, is that I'll likely be moving to an apartment in a few months which will be affected by how my score changes due to this new credit card. That application will also add another inquiry to my report, I don't want to end up in the 500s, and I'm worried about that since it will be 2 new inquiries within 2-3 months. How much of a problem do you think I'd have applying for an apartment, so close to applying for a credit card, and how much of a problem for my score do you think it would be?

My FICO scores (Equifax: 691, TU: 714, Experian: 695)

Payment History: Very Good (no missed payments)

I only have 1 open account (student loan) 

Credit History: longest account 8 yrs, AAoA: 6.5 yrs

I hope my questions make sense, I'm kind of jumping all over the place. Thanks for your help! 

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As an FYI I have NEVER had an inquiry show up from an apartment pull.  Cant say why other than they just have always done a soft pull perhaps.  And I doubt applying for a card would hinder an apt either...ive had a BK on mine, and still got 2 apartments during that time with NO problems or increased deposit required.

[Anonymous]

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@Anonymous wrote:
So far I've never had an issue with my Discover being accepted anywhere in the US. Was recently in the Caribbean and it was even accepted in many port cities, which was very surprising.

I'd do Chase first, then Amex, then Citi and call it quits for 6-12 months.

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Found out the other day that Costco doesnt take Discover!!!  ugh.  Plus I will say that I couldnt use it while in New Zealand either. LOL.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:
I started this January to build my revolving credit...

First Card: Capital One Platinum (After 3 months Changed to Quicksilver) It has nice earning potential with 1.5% Cashback I'd Suggest: Platinum and trying to upgrade or going for QS.

Second Card: Amazon Chase. I'd Suggest: Amazon Version but if your not a Amazon shopper maybe you can check Chase prequal site

I also acquired the AMEX ED and BCE after I added some history. The BCE is my favorite card at the moment. My scores were 690-710 when I applied. I went through the prequal part of the site and picked up awesome sign up bonuses.

I did get a College Cash Back card from Wells Fargo. So if you want to it's worth a shot to talk to SunTrust for sure and see what they have to offer.

My scores didn't change much from the inquires and new accounts. They dropped a little then rebounded in the next month so I wouldn't worry about that too much.

Good Luck on whichever cars you pick!! 😃

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Thank you! This is all helpful, I'm really leaning towards Amex BCE or Discover, I'm just afraid of rejection! lol

When you applied for your first card, did you have a long credit history with other kinds of credit already? I have what I think is a decent amount of credit history with my student loans (average 6 yrs) so I wouldn't say I have a "thin" history, but maybe credit companies would consider a credit history thin if it's not specificallly with a credit card?

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Rejection is a part of life!  Apply already so we know how this ends 

[Gunnar419]

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@Anonymous wrote:

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Rejection is a part of life!  Apply already so we know how this ends 

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Yes, Apply for something, please! The suspense is killing us!

[Anonymous]

If you're leaning towards Amex and you're going to be using it for gas and groceries, the Blue Cash Preferred that gets you 6% at supermarkets and 3% at gas stations seems like a good way to go. Between the statement credit and the rewards that should more than make up for the annual fee. I wish I had apped for it originally, but I'm stuck with the Blue Cash Everyday for another 8 mos or so it seems before it is eligible to upgrade. I got in with Amex with a thin revolving file, derogs and an EX score of 662. 

[CreditInspired]

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@Anonymous wrote:

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@Anonymous wrote:
So far I've never had an issue with my Discover being accepted anywhere in the US. Was recently in the Caribbean and it was even accepted in many port cities, which was very surprising.

I'd do Chase first, then Amex, then Citi and call it quits for 6-12 months.

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Found out the other day that Costco doesnt take Discover!!!  ugh.  Plus I will say that I couldnt use it while in New Zealand either. LOL.

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But, www.costco.com does accept Discover. Yep, I purchased a TV using my Discover card.

[Anonymous]

When I applied for Capital One and then Amazon Chase I only had 1.5 years history for a consigned auto loan. Then I applied for AMEX 4 months after getting my other cards.

Check the prequal page for AMEX because you get extra bonuses through the page. It should also have a single APR for you if something pops up.

I totally understand your apprehension. I didn't know what to expect and mostly thought I'd get denied for anything so was really happy to get what I did. I think Capital one and AMEX have solid prequal offers and will help call nerves about apping when you know your chances are better.

You will get something Awesome! Good Luck 😃

[SouthJamaica]

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@Anonymous wrote:

Hi everyone. I've been reading the myFICO community boards for a while contemplating applying for a credit card. Been a little scared/nervous to even get one, but here I am. I've been asking friends and family for suggestions, but I'm not getting too much help from them, so I thought I ask here where I know I could get some good feedback. I'd really appreciate suggestions for a good first credit card, that I'd would likely get approved for, and also won't take a huge hit to my scores when applying. I was thinking about applying for either the Capital One Quicksilver or the Citi Double Cash because I wanted a rewards card. But the more I read about the hit people take from applying for the Capital One card, I don't know if it would be worth it, or if my scores are even good enough for that card. Should I apply for a secured card instead, and worry about rewards later?

Another piece I want to keep in mind, now that I'm actively monitoring my scores and credit reports, is that I'll likely be moving to an apartment in a few months which will be affected by how my score changes due to this new credit card. That application will also add another inquiry to my report, I don't want to end up in the 500s, and I'm worried about that since it will be 2 new inquiries within 2-3 months. How much of a problem do you think I'd have applying for an apartment, so close to applying for a credit card, and how much of a problem for my score do you think it would be?

My FICO scores (Equifax: 691, TU: 714, Experian: 695)

Payment History: Very Good (no missed payments)

I only have 1 open account (student loan) 

Credit History: longest account 8 yrs, AAoA: 6.5 yrs

I hope my questions make sense, I'm kind of jumping all over the place. Thanks for your help! 

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You're overthinking this. An inquiry isn't going to tank your scores. If you're preapproved for Quicksilver, go get it.