Best cards for thin files?

[abundancejones]

Hello Everyone!

I have a "thin" file. Basically, I have five positive closed accounts and no active tradelines. I can't pull any FICOs because of this. All are 8 years old and include a car loan, Chase credit card, USAA credit card, and two Sallie Mae loans. I don't have any inquiries on my reports within the last two years and have an income over 90K.

What card issuers will be able to work with me? I'm hoping to at least get one 10K card...is this possible?

[notfancy]

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@abundancejones wrote:

Hello Everyone!

I have a "thin" file. Basically, I have five positive closed accounts and no active tradelines. I can't pull any FICOs because of this. All are 8 years old and include a car loan, Chase credit card, USAA credit card, and two Sallie Mae loans. I don't have any inquiries on my reports within the last two years and have an income over 90K.

What card issuers will be able to work with me? I'm hoping to at least get one 10K card...is this possible?

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If you can't get a credit report and score- no you can not get a 10k card. You need to look into one or two secured cards most likely. Your best bet beyond that is to talk to a credit union and see if they can do anything for you.

[notfancy]

If that Chase and USAA card were current though, then you would have a good chance... why can FICO not pull your scores? Were those accounts yours, or were you an AU? What happened to those accounts?

[abundancejones]

I don't have any active tradelines over six months. You need those for FICO. 

I've read of someone on here getting a CSP with only 3 months of history. Surely someone will bite. 

[notfancy]

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@abundancejones wrote:

I don't have any active tradelines over six months. You need those for FICO. 

I've read of someone on here getting a CSP with only 3 months of history. Surely someone will bite. 

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good luck

[abundancejones]

Anyone else that has had a thin file, what has been your experience? 

[red259]

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@abundancejones wrote:

I don't have any active tradelines over six months. You need those for FICO. 

I've read of someone on here getting a CSP with only 3 months of history. Surely someone will bite. 

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CSP with three months of history isn't likely, unless  there was a prior chase relationship with a decent credit line that ended on good terms. You may have to get a secured card. The types of cards you should focus on first are cards that you will be keeping long term, since you want to build up your history. I would look for a few non-AF cards that you can SD and forget, but that will help your long term AAOAs.

[red259]

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@red259 wrote:

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@abundancejones wrote:

I don't have any active tradelines over six months. You need those for FICO. 

I've read of someone on here getting a CSP with only 3 months of history. Surely someone will bite. 

---

CSP with three months of history isn't likely, unless  there was a prior chase relationship with a decent credit line that ended on good terms. You may have to get a secured card. The types of cards you should focus on first are cards that you will be keeping long term, since you want to build up your history. I would look for a few non-AF cards that you can SD and forget, but that will help your long term AAOAs.

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Since you had a prior chase card, maybe they will consider giving you a freedom so you can start your relationship back up with them. Cap 1 gave me a 5k credit line when I had no open card, but I had student loan payments reporting for years. 

[Anonymous]

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@abundancejones wrote:

Anyone else that has had a thin file, what has been your experience? 

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My first credit card was a $900 BankAmericard Cash Rewards card when I was a student with no official income, but as it turned out I may or may not have had an AU store card reporting at the time I applied. I do recall, however, that the acceptance packet BofA sent me said that I didn't have a FICO score due to my thin file. BofA has been my bank since I was very young, so it's possible that my banking history and/or account balances with them worked in my favor. I would encourage you to apply for cards from your own bank, or a local credit union as someone suggested; and if you're really unable to access your FICO score solely due to lack of currently-active accounts, why not try being added as an AU on a family member's card and see if it resurrects your score?

[Themanwhocan]

Well, you just need to have one 'undisputed account' report to the credit bureaus any time within the past 6 months, and then you'll be golden. All those closed accounts will still provide credit history.

So apply for a secured card, buy something with it, and once it reports you should in theory have a good Fico score.