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Advice

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New Visitor

Advice

Hello Guys see alot of posts for approvals here. Wanted to get any of your advice on easiest or best Credit Cards to get approvals for. Had a blemish in the past around 2016 which I am trying to clear up right now. Also don't really have any active Primary accounts on my profile right now. Also i have a large extended family and was wondering if you knew from your suggestions if any of the cards had a liberal Adding Authorized User policy I am trying to establish credit for spouse children and parents as I made this mistake in starting off in Credit pretty late in my life. I am self-employed and have filed my previous years tax returns . Any suggestions and names of specific lenders would be highly appreciated

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Super Contributor

Re: Advice

Who do you bank with? Do they offer secured or starter cards?

Have you considered joining a credit union?

Have you checked the Discover pre-qualification site?
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Established Contributor

Re: Advice

What was the blemish?

    Combined Loan Balances: $29k / $70k
    Total SL: $26.9k
Goal cards:



United 1K - 675,000 lifetime flight miles     |     Chase 4/24
Message 3 of 5
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Established Contributor

Re: Advice


@Frank88 wrote:

Also i have a large extended family and was wondering if you knew from your suggestions if any of the cards had a liberal Adding Authorized User policy I am trying to establish credit for spouse children and parents as I made this mistake in starting off in Credit pretty late in my life.

 

As far as adding AUs, that generally doesn't require any credit check so as far as I know all issuers are pretty "liberal". There might be some criteria that would disallow an AU, maybe others will chime in.

 

@coreysw12 wrote:

What was the blemish?


That and scores would help with any recommendations. 

 

Scores: Spt 20: EX FICO8 831, TU FICO8 828, EQ FICO8 823
AoOA: closed: 36 years, open: 25 years; AAoA: 11.8 years
Amex Gold, Amex Green, Amex Blue, Amex ED, Amex Delta Gold, Amex Hilton Surpass, BoA Platinum Plus, Chase Slate, Chase Amazon, Chase CSP, Citi AA Plat, Sync Lowes, Sync JC Penney - total CL 145k
Loans: Prosper (20k/3yrs 7.14%), Lending Club (10k/3yrs 5.89%), Chase car loan (35k/6yrs 0.9%)
Message 4 of 5
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Frequent Contributor

Re: Advice

Have you pulled a credit report recently?  You can get one for free at https://www.annualcreditreport.com/ -- they are free every week until April 2021.  For scores, I like MyFICO and you can get all scores from the 3 CRAs.  That would be a good starting point to understand where you stand from a credit worthiness perspective. 

From there it is deciding your actual goals, starting with a secure card as mentioned is a great way to get your foot back in the door.  Depending on how bad the blemish was it may or may not be an issue today but the thin profile may necessitate the need to start with a secured card.  Everyone here has different opinions but personally if I had to get one today I would go Discover or NFCU (if I could get membership).  I would stay away from the CapitalOne Secured because they seem to be harder (in my experience) to graduate to an unsecured card. 

Lots of folks here with far more experience in this stuff than I do, feel free to ask away and good luck in your journey.  Also the rebuilding forums here are great as well and tons of folks who have been in your shoes or currently in your shoes to help you through.  And yes I was in you shoes too and my blemishes were pretty big (several Charge Offs, and lots of lates).  I only mention that because within time things can change so don't feel discouraged if it doesn't happen all at once. 





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