Recommendations: Credit Card for 18 year old?

[Anonymous]

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@babson wrote:

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@Anonymous wrote:

HPs from Amex generally take ~2 months to report. I was approved on 12/26 for my BCE and my HP only popped up last month. Likewise, I got my PRG in February and the HP has yet to show up. Same with the account- Amex is pretty slow to report to CRAs, expect at least 2 statements before it pops up. 

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Thanks for the explanation.  Now that you mention, I do seem to recall Amex BCP taking a few months to report.

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Not that it matters any longer but HPs from Amex don't normally take 2 months to show up.  They, as almost all HPs do, show up very quickly.  In Amex's case, it's the account showing up on your credit reports that can take several months.  Just don't want there to be any confusion for others reading this post.

Congrats for your daughter.

[Anonymous]

^ +1

new tradeline / new account showing up different from HP / inquiry. he probably meant the former taking awhile to show up. amex is known for it.

[lord_kinbote]

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@Anonymous wrote:

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@babson wrote:

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@Anonymous wrote:

HPs from Amex generally take ~2 months to report. I was approved on 12/26 for my BCE and my HP only popped up last month. Likewise, I got my PRG in February and the HP has yet to show up. Same with the account- Amex is pretty slow to report to CRAs, expect at least 2 statements before it pops up. 

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Thanks for the explanation.  Now that you mention, I do seem to recall Amex BCP taking a few months to report.

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Not that it matters any longer but HPs from Amex don't normally take 2 months to show up.  They, as almost all HPs do, show up very quickly.  In Amex's case, it's the account showing up on your credit reports that can take several months.  Just don't want there to be any confusion for others reading this post.

Congrats for your daughter.

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Thank you and that makes things a bit more interesting.  I just checked the alerts from MyFico and I see a HP from Discover and Citi, but nothing from Amex.  Also, the HP's from Amex/Discover did not impact her scores, still reporting the same.  Will update if I receive a HP from Amex.

[Appleman]

If she is so inclined I would recommend having her join myFICO and read through some of the forums.

The re-building forums might help her better understand the gift of good credit that she currently enjoys.

Unfortunately at that age it can be a very slippery slope when it comes to relationships and credit, too many stories that start my boyfriend/girlfriend.....

It sounds like she has a good head on her shoulders and a guardian angel looking out for the baddies.

[lord_kinbote]

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@Appleman wrote:

If she is so inclined I would recommend having her join myFICO and read through some of the forums.

The re-building forums might help her better understand the gift of good credit that she currently enjoys.

Unfortunately at that age it can be a very slippery slope when it comes to relationships and credit, too many stories that start my boyfriend/girlfriend.....

It sounds like she has a good head on her shoulders and a guardian angel looking out for the baddies.

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Lol, well I can tell you..  She has no interest in credit and when I tried to educate her on FICO and how it would impact her in the future, she was like "can you just manage all this stuff for me".  We pay for her food/gas/insurance and she does not like to spend money.  However, she does enjoy watching her account grow from pay check deposits.  I am just going to setup reoccuring bills with auto-payments from my bank and let her revisit credit in a few years when she is more mature.

I appreciate all the help.  I just wanted to get her established.  When I first tried when she turned 18, (3 months ago) the apps were declined on Chase and I turned down Discover because they wanted a co-signer.  Discover did not HP but Chase did.  Anyway, 3 months later.  It was bothering me that her profile was not building, so I re-attempted.  I am not sure why the 3 months made a difference, maybe it was too close to her birthday.