New to Credit questions

[Anonymous]

I have applied and have been approved for the Capital One secured credit card and I have also been approved for a vonmaur store card. I want to know whether or not you all would recomend getting another secured credit card to help build my credit score. At this point my score is nonexsistant, I have 4 inquires on both transunion and experian most of those lead to declines based on lack of credit history. I have applied to join the justice federal credit union and am considering there secured card can anyone help me with information about this card? I also applied to join state department federal credit union. Thanks so much for all of your help and responses in advance.

[myjourney]

Welcome to the forum 

Yes get another secured and use both for 6 months then app unsecured 

Keep UTL reporting low and you should be on your way 

[Anonymous]

Thank you, Do you think I would have any luck applying for a JC Penny card I have read that it is very freindly to those who do noy have much credit history but am not sure? I would be satisfied with a 100$ limit I just want to have atleast 3-4 cards reporting actively on my credit report. Thanks so much in advance

[Anonymous]

Depdepdep11, I wouldn't go randomly app'ing for any CC's. A bunch of HP's, and especially with denials, will hurt you badly at this point. You could probably use a little better mix of credit use to improve your scores so (in MHO only. Others here are better equipped to tell you the right things to do) you should check out sites like;

https://www.capitalone.com/credit-cards/ (Their Pre-Qual site)

https://www.discovercard.com/application/fmo?execution=e1s1 (Discover's Pre-Qual. I read here that they are helpful with clients that have thin files and they may offer you a DIscover IT card???)

 And do a search here for SYNCHRONY AND COMENITY, they have many store and branded MC/Visa cards that can be pre-approved without a HP unless you accept the offer and fully apply for the card.

And if you get in with the CU's they may offer what is called a "Secured/Shared acct. where you could qualify for a small installment loan and even a CC with them.

Just a few suggestions.

[myjourney]

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@Anonymous wrote:

Thank you, Do you think I would have any luck applying for a JC Penny card I have read that it is very freindly to those who do noy have much credit history but am not sure? I would be satisfied with a 100$ limit I just want to have atleast 3-4 cards reporting actively on my credit report. Thanks so much in advance

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I wouldn't go all crazy with limited history applying 

Stick with the secured cards like I said for 6 months and then proceed 

As far as 3-4 cards reporting that old saying comes to mind 

"you have to crawl before you can walk in order to run"

Going after cards with no history will just set you back....meaning take you longer to get from point A to point B

[Anonymous]

Okay guys thank you for your help. Im not expecting anymore hard pulls except for the ones the two credit unions are probably going to do. Will they still accept me as a member with no credit?

[Mantis350]

+1 on the Synchrony and Comenity store and visa cards.  Really good if you are just starting out in your journey.

[Espresso]

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@Mantis350 wrote:

+1 on the Synchrony and Comenity store and visa cards.  Really good if you are just starting out in your journey.

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This. Go get you a WalMart or Sam's store card for your 3rd card. They will throw you $300 CL with no history. After a few months that WalMart store card will increase greatly used or not used. 

[Anonymous]

Im glad you guys posed the Synchrony bank/ Comenity bank to me because I have questions about them for you guys if you dont mind? I tried to get a Goody's card threw Comenity 7-10days got the denial from them Insufficient credit history they pulled Equifax; this was my second denial the first being Discover it for students which pulled transunion. Then I applied at Capone secured an got that card with the 49$ deposit. Capital one did a HP on both transunion an eq if I remember correctly. I just checked an yes they did then when I applied for 360 checking capital one did a HP on eq for overdraft denied of course..... An Vonmaur is on my Equifax also which they approved me upon submitting documents proving income. Brclys is also on my transunion I had heard they were good for no credit Im pretty sure they denied me i havent heard from them an i applied a month ago. Synchrony bank pulled Transunion when I applied with American Eagle/ heard Synchrony store cards were good for no credit I got the denial a couple days ago based on insuficent credit history. So I dont see the need to try another Comenity or Synchrony unless they are more lenient with the walmart charge... Does synchrony reconsider denial based on no credit history? My income outways my debts signficantly as my school is currently paid for and I am staying at home. My income is not reporting on my credit report which is why I had to submit my 1099 an other docs to VonMaur to be approved. Any help would be greatly appreciated. Im assuming if denied for on Synchrony will be deined for all an denial from Comenity also only leaves me the option of possibly applying to stores who do there own financing an will be satisfied with my income outwaying my finacial obligations. 

[Espresso]

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@Anonymous wrote:

Im glad you guys posed the Synchrony bank/ Comenity bank to me because I have questions about them for you guys if you dont mind? I tried to get a Goody's card threw Comenity 7-10days got the denial from them Insufficient credit history they pulled Equifax; this was my second denial the first being Discover it for students which pulled transunion. Then I applied at Capone secured an got that card with the 49$ deposit. Capital one did a HP on both transunion an eq if I remember correctly. I just checked an yes they did then when I applied for 360 checking capital one did a HP on eq for overdraft denied of course..... An Vonmaur is on my Equifax also which they approved me upon submitting documents proving income. Brclys is also on my transunion I had heard they were good for no credit Im pretty sure they denied me i havent heard from them an i applied a month ago. Synchrony bank pulled Transunion when I applied with American Eagle/ heard Synchrony store cards were good for no credit I got the denial a couple days ago based on insuficent credit history. So I dont see the need to try another Comenity or Synchrony unless they are more lenient with the walmart charge... Does synchrony reconsider denial based on no credit history? My income outways my debts signficantly as my school is currently paid for and I am staying at home. My income is not reporting on my credit report which is why I had to submit my 1099 an other docs to VonMaur to be approved. Any help would be greatly appreciated. Im assuming if denied for on Synchrony will be deined for all an denial from Comenity also only leaves me the option of possibly applying to stores who do there own financing an will be satisfied with my income outwaying my finacial obligations. 

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Not all Synchrony cards have the same underwriting. I have heard WalMart is the easiest of all Synchrony cards. They are closing stores, fighting declining sales, and running tv ads for their store cards. I suspect their underwriting has opened up a lot. I would go for one more app, WM.