Building credit

[stengiz]

I added my stepson to my cap 1 as an AU to build his credit. He is 20 yrs old and works full time. Three months later I said to him let's try if you qualify for a card on your own. He was qualified and approved for a cap1 quicksilver with a 1000 starting limit. I was surprised at the starting limit. I told him to take good care of it and not apply for anything else for at least 6 months. What should his next card be?

[GoodCredBen]

To even begin, he needs to build some good credit history. If he starts off on a good foot he is golden! he just needs to know the repercussions of being a little crazy with his money....

That being said, at 6 months, i would pull his Scores and reports to see how he stands, only then would we be able to give an accurate suggestion. 

Tell him to use it to fill up gas once a month or something and then pay it off 

to show that he is using it, but make sure that you also keep an eye on those statements.... not saying anything bad about your stepson, but he is a young man and things can easily get crazy... trust me i was there (and still are there hehe)

Hope this helps! Congrats to him! 

[Kenny]

The Sallie Mae or Amex would be the most ideal next card for him. Maybe he can garden until the score gets to where it needs to be to app then, and I'd say app for both of them at the same time.

[stengiz]

Thanks I already did say that I have a late payment and stays in my report for the next 7 yrs. I will keep an eye on it. I introduced him to credit hoping he will have great credit when he tries to buy a house

[Kenny]

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@stengiz wrote:
Thanks I already did say that I have a late payment and stays in my report for the next 7 yrs. I will keep an eye on it. I introduced him to credit hoping he will have great credit when he tries to buy a house

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Did you try to goodwill it? Might be able to get it removed! Good luck!