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Advice for a college student

New Member

Re: Advice for a college student

Thanks Revelate. Yes, the new store card has already started reporting. Regarding becoming an AU on a real AMEX, I read somewhere that if you become an AU on a card with a high CL, then it can negatively affect you when applying elsewhere. Say if the card has a 20K CL and next time I apply for a card, my income is under 10K, then it can look very unusual to the lender with my CLs in proportion to income. What are your thoughts?

Message 11 of 14
Valued Contributor

Re: Advice for a college student

tl;dr, so apologies if I'm being reduntant. My greatest regret as a college student (credit-wise) is not applying for an AmEx card. If your parents have one (issued by AmEx, so it can be backdated) see if they'll add you as an ACM. Citi was also good to me as a college student, not sure if that's still the case though.

TU FICO: 800 (2/1/14) | CK Score: 802 (2/1/14) | CS Score: 805 (2/1/14)

J.P. Morgan Palladium ($250k) | AmEx Platinum (NPSL) | AmEx SPG Personal/Business ($50k/$50k) | Citi Executive AAdvantage WEMC ($50k) | Citi Dividend WEMC ($50k) | Chase Sapphire Preferred VS ($50k) | Chase Ink Bold WEMC ($50k Flex) | Chase Ink Plus WEMC ($25k) | Chase Freedom VS ($25k) | Chase Freedom WMC ($25k) | Chase MileagePlus Explorer ($25k) | Chase Southwest RR Plus Business/Personal ($15k/$15k) | Barclays US Airways ($25k) | Barclays Hawaiian Airlines ($25k) | BofA Alaska Airlines ($10k) | Lexus Financial Services ($30k) | Mercedes-Benz Financial Services ($50k)
Message 12 of 14
Moderator Emeritus

Re: Advice for a college student

I agree that locking in your member date with amex is important. I want to make my daughter an ACM when she turns 15 so that her member since date gets locked in early.

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!

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Message 13 of 14

Re: Advice for a college student

Revelate wrote:

Hrm, open question, can you backdate to a Macy's store card? 


I wouldn't think so, in which case, apply for the Zync now (if you want an Amex ever) to get your membership date set rather than 2013 as FR suggests.


All I read was AMEX and assumed it was a BCE, for some reason.


You're better off doing this in 2012 (applying for the Zync).

Follow my financial journey:

EQ FICO (01/16/2012): 656 - EQ FICO (02/16/2012): 743 - EQ (02/24/2012): 760 - EX (04/28/2012): 739 - GOAL 2013: 800+

AMEX BCE (0/10K) --- BOA 1-2-3 (0/15.9K) --- Discover More (0/6K) --- Chase Freedom Visa (0/1.4K) -- Hyatt Visa Sign. (0/5.8K) -- Barclay's NFL Card (0/7.5K) -- Chase Sapphire Preferred (0/5K)

Message 14 of 14