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help me help my sister...

Valued Contributor

Re: help me help my sister...

I am new on building/rebuilding credit, so this should be taken as second opinion, not as expert advice. I would go ahead and do the Amex, and then sit tight for a year other than perhaps requesting CLIs. The reason I say that is, that would be three cards, and getting in with Amex at an early age is a good thing IMO. I wouldn't worry about utilization much at this point as long as she doesn't start carrying balances and paying a lot of interest. She's off to a great start (better than my current situation), good luck!

No derogs, but tons of inquiries and heavy credit-seeking behavior. In March of 2019, I had no open accounts, a charge-off, two collections, and scores in the low 500s. What I call the "thick build method" worked for me, but may not work for every situation.

Authorized user / Corporate / Auto loan / Personal loan

Card CLs total $85,100, not counting the AU card. The AU card brings the total to $110,100. In March 2019, card CLs totaled $0.

Closed but still on reports: ExxonMobil, $950, 10/08-02/11 (Equifax only) | Citi secured, $200, 04/19-09/19 | Capital One secured, $300, 04/19-08/19 | My Jewelers Club, $5,000, 05/19-08/19 | Green Dot Primor, $300, 05/19-08/19 | Self Lender secured $500 loan, 04/19-01/20 | Unsecured personal loan from Coastal, $1,000, 06/19-08/19.
Message 11 of 15
Regular Contributor

Re: help me help my sister...

Another Capital One card? Maybe Co-Branded Cap 1 card. Barclay should be easy to get. Or just go for the Amex.
1. She needs an installment trade line for a stronger profile.
2. At this point she might not get anything over $1000 SL

Message 12 of 15
Frequent Contributor

Re: help me help my sister...

Has she tried BB&T?  they have approval on soft pull.  I would try, i mean what is the worst that can happen since it is a soft pull anyway.

No Preset Spending Limit Hilton - $20K  Cash Magnet $18k Blue Cash Preferred $28K   Discover IT HSN Card  FurnRow $20K  Rooms To Go Synchrony $16.5K $5k Amazon Prime Card $10k  Home Mortgage 280K 3% 39K Car Loan 1.9%



Message 13 of 15

Re: help me help my sister...

I had those cards, and a couple small store cards. I got offers for odd banks, but went for a mainstream BT card. Then another. Even tho my first Citi Diamond Pref had no points I could BT, it got me a Discover BT, then I got a new Citi DC (which also can BT if need be, lol), and finally that Nordy VS you mentioned!
But Balances to be transferred always tend to go higher with nice 0% rates to start. Like Chase Slate, or Citi Simplicity, or a new Cap One. I just PC my old Cap1 Plat to a Venture and another to a QS.
But, yeah. If you can look for a BT, they usually give scores around 680 a chance to clear their other cards and then you have a bigger, better card.
And I would REALLY fix that SSN thing.
That might, ... help. Heh! 😋
Starting Score: 630
Current Score: 768/798/803
Goal Score: 820+

Take the myFICO Fitness Challenge

Began in Jan 2017.
As of Aug. 2018, just bought a new solar home!

Planning for: Chase Saphire Preferred/Reserved
Marriott Bonvoy or Amex Platinum
A Viaso card (for Japanese travel)
ANA or JAL FNBO, maybe Cathay Pacific

Amex BCE - $14000, Citi Rewards+ - $17500, Citi DC - $12500, Nordstrom VS - $15000, Discover IT - $15700, CareCredit - $15000, Cap One Venture - $6000, Amazon - $6500, Wayfair - $6900, Simply Be - $1200, Lane Bryant Platinum - $2400, Cap One Quicksilver (co-sign/au) - $1250, Victoria Secret - $1250, Paypal MC - $2700
(About $117,800k in credit. So Far ...) Updated 12/15/2019
Message 14 of 15
Valued Contributor

Re: help me help my sister...

She might also want to check out Petal or Deserve cards.

Message 15 of 15
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