Credit Card Approval with AU History Only

Anonymous · ‎08-03-2011

Hello folks, I am a recent college grad and a virtual credit noob. I have never really had had credit in my own name. I only have AU history (1 yr from a CapOne card, 500 CL). I know that most banks will not accept this for a credit card approval. Does anyone know of any banks that will approve me. Will I have better luck with CU's and community banks? Also I can be added as a joint account older on my gf's Macy's store card (1 year, 1500 CL) aswell as her installment loan from the local CU (1 yr, 2000 balance). Will this help? Any solid advice would be much appreciated. Thanx

AndySoCal · ‎08-03-2011

There are two paths you can try. When I first started trying to get credit I had no credit history not even an AU account. I has able to get a store card from a department store. This was almost 30 years ago. You can try that route and then work from thier. But do not go app crazy after you get your first card.. The other route you can go is with your local bank or CU and try to get a secured credit card. The usual minimum amount needed is $300.00 or more. Hope this helps

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Meltdownblitz · ‎08-03-2011

I'd go with my bank if I were you. Then try for premium cards after 6 months - a year.

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brian2220 · ‎08-04-2011

i applied for a macys store card three years ago and got a $100 credit limit

and i applied for a household around the same time and was given $300

start and small and work your way up, try looking for a secured card as a start

i started small and look where i am at now

good luck

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Anonymous · ‎08-04-2011

so is it possible at all to get a CC with a decent limit if all you have is AU history on your CR?

Anonymous · ‎08-04-2011

@Anonymous wrote:
so is it possible at all to get a CC with a decent limit if all you have is AU history on your CR?

They'll be looking at your FICO score and your income as well as your AU history - it's hard to answer.

Have you pulled a FICO score from this site yet? That'll help folks know what they might recommend to you.

Being an Au on your GF's Macy's card may help - they do report AU's. Just be sure it has a pristine payment history and low balance. The Macy store cards no longer report the CL, I don't recall if the Macys AmEx reports CL or not. Is hers the Amex or store card?

And have you tried the CapOne preapproval site to see if you can get a CapOne of your own? Some folks like CapOne for building credit.

Other cards have preapproval sites as well.

And, do you have a checking or savings account with a CU or bank? If so, you may want to sit down and chat with them. They'll probably give you some pretty helpful info. And if you've pulled a report and FICO score from this site, bring it in with you. That'll help them know where you are.

Hope that helps a little!

dp321 · ‎08-04-2011

Too bad you just graduated. Thinking about going to grad school? I know one card, Discover More. for sure will easily give you a student card and gradute it to a regular More as you graduate. Alternatively, try a sercured credit card from the bank you bank with, or BoA or Wells Fargo or someone. Finally, does your credit report generate a score? You might be able to try some prime cards if you have an actual score.

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Anonymous · ‎08-04-2011

Sorry for not posting this sooner. My scores are EQ - 755, TU - 724, EX - 692 (seriously, I don't know what is up with EX). I thought premium cards were out of the question. What kind of CL would I be looking at if I were approved? You guys have really been so helpfull.

dp321 · ‎08-04-2011

Hmmm, if they are indeed FICO scores, I wonder if you have any negative items on your Experian account... Maybe inquiries from student loans or student loans themselves?

Anyway, your credit line most likely will vary with companies, your gross income and the credit lines you have now. BOA did gross monthly income plus $100 for my first card, Discover out of the blue did $1500 for my student card which I think is more or less standard for them for this card.Chase matched the middle card on my credit file in terms of limit. AMEX blue cash started me at $2000 and so did it for quite a few people from what I read.

Anyway, I would start with prime lenders that offer cardsfor people with limited credit history. Since you have some decent credit scores, you should get them easily and may have a shot with some reward cards. Discover More for student if you are continuing school, if not, they can be stringent. American Zync is a good one for people with limited history. A plain old visa from bank of america is an option; you can product change it to other reward cards six months down the line. Citi Platinum Select is also good with great intro rate for a long time. Chase Freedom as a superb cashabck may even worth a shot, however Chase may look for people with multiple accounts on their credit file.

Now if you get denied for two of the cards I mentioned(except for Chase Freedom), then take it back a notch and apply for sercured credit card. By the way, having a job definitely helps a lot.

Starting Score: EQ: 703 (4/2011);
Current Score: EQ: 738 (04/2013)

Goal Score: ALL 800

Take the FICO Fitness Challenge

Anonymous · ‎08-05-2011

@Anonymous wrote:
Sorry for not posting this sooner. My scores are EQ - 755, TU - 724, EX - 692 (seriously, I don't know what is up with EX). I thought premium cards were out of the question. What kind of CL would I be looking at if I were approved? You guys have really been so helpfull.

mrnerok,

I might have missed it - sorry - but can you share where you are pulling your scores from?