Unsecured Options?

[Anonymous]

I’m 20yrs old pretty new to credit. I already have an Apple Card with a $250 limit and the only one thing else on my credit is my 23k car loan with Santander. I wanted to see what other unsecured cards are out there that I could possibly be approved for. The Apple Card hasn’t been reporting to my credit and I’ve been making on time payments $0 ending balance every month since I got it in August.

[AllZero]

Check pre-qualification sites:
Capital One
Discover
CITI
American Express

Do not apply for secured Capital One. It will not graduate.

[Jnbmom]

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@Anonymous wrote:
I’m 20yrs old pretty new to credit. I already have an Apple Card with a $250 limit and the only one thing else on my credit is my 23k car loan with Santander. I wanted to see what other unsecured cards are out there that I could possibly be approved for. The Apple Card hasn’t been reporting to my credit and I’ve been making on time payments $0 ending balance every month since I got it in August.

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 Have you tried Cap one prequalify or Disco, they like thin files?But with such a very thin file, your only option  may be a secured card, nothing wrong with them to start out with.

Or you can wait until Apple card has been reporting for 6 months and try for Cap one or disco then if you don't qualify now.

[Anonymous]

I’ll third the recommendation for Discover. Their secured card graduates in as little as seven months, you earn the same rewards as the unsecured card, and often people will get a nice line increase when the card graduates.

Welcome to the forum and congrats on getting your finances in shape at such a young age. If you aren’t already, look into joining a local credit union. Building a relationship with one now can pay huge dividends later in life for auto loans, credit products, mortgages, etc as they tend to work with members more than larger banks do. The earlier you’re in, the earlier you can begin to cultivate that relationship. I joined my local CU in 9th grade when my mother took me to open a checking/savings combo. Thirty years later I still bank with them, having or having had a mortgage, five car loans, checking/savings, a few signature loans, and a credit card. It couldn’t have been more painless, in part because when I walk in, I’m greeted by name - they are terrific there. Likely you’ll find similar experiences and they can be invaluable.

[zerofire]

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@Anonymous wrote:
I’m 20yrs old pretty new to credit. I already have an Apple Card with a $250 limit and the only one thing else on my credit is my 23k car loan with Santander. I wanted to see what other unsecured cards are out there that I could possibly be approved for. The Apple Card hasn’t been reporting to my credit and I’ve been making on time payments $0 ending balance every month since I got it in August.

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First you really should go get your FiCO scores. There is no way to know if your file has a high number or a low one if you do not get one listed. Thin files should have a number anyway even if it is easier to make unstable. Cold applications in your case should be skipped for now as your credit card history is only 2 months. The car loan would also mess with DTI so lenders might not be as lenient.

Your best bet is to ask for prequal's from(in order from most valuable to least):

Discover

Chase

US Bank

Capital One

American Express

Citi

BB&T(Geo-fenced)

BBVA Compass

Be aware that you want cards that work for you and fit your style than any random card the qualification spits out. Do try to avoid annual fees, they are not worth it for you yet usually.

[Remedios]

If OP has no AU accounts, they do not have Fico scores yet. Takes six months to generate one. 

Loan is from August and Fruity card is recent development, too 

I would do nothing till at least scores are generated, unless Discover offers unsecured card. I'm doubtful that's going to happen because their only revolving account is not reporting 

[cr101]

i hate to be that person who replies with an answer that's the exact opposite of what you want, but...why are you opposed to getting a secured card? depending on your credit, you could possibly pay $49 for the capital one secured card for a min $200 limit and guaranteed increase after making 5 on-time payments. it doesn't show on your credit report as secured either....the apple card not reporting is a known issue. a few weeks ago, i read that they're going to start reporting.

[calyx]

I would wait until your accounts are 6 months old and then start checking prequal sites.

As for secured - if you go that route, try to go for one that will graduate, so you can keep that line open for a long time.   The Cap1 mentioned above doesn't graduate.   Discover, TDBank, Citibank, USBank, NFCU (and other credit unions, you'd have to check!) do graduate.

And as for "reporting as secured" - don't worry about that.  It doesn't impact your score, and manual reviews likely won't care, it's more important to have positive (no negative) history.

[randomguy1]

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@zerofire wrote:

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Your best bet is to ask for prequal's from(in order from most valuable to least):

Discover

Chase

US Bank

Capital One

American Express

Citi

BB&T(Geo-fenced)

BBVA Compass

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US Bank does not have a prequal anymore, otherwise a good list.

[designated_knitter]

He may qualify for unsecured Discover.  My son did and he has no credit at all nor did he have income at that point. Discover likes youngins... no baggage yet.

if you are a student (even part time... sign up for a class at a local cc if you have to!), several cards have unsecured student versions which are unsecured. 

good luck!