Deserve credit card - should I get it?

[folks19]

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@Anonymous wrote:

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@folks19 wrote:

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@Anonymous wrote:

No Deserve cards, no Merrick Bank, Credit One. Stick to good issuers like Chase, Citi, Bank of America,  Amex, Discover, and maybe Cap1. 

If your profile isn't strong enough for them yet, try to get yourself in position to do so by using your DISCOVER card and continuing to make on time payments for a longer period before applying. 

Those other cards just gunk up your credit report and weighs it down, unless of course you are rebuilding, which you are not.

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You are right. I should be sticking with the main issuers, especially since I'm not rebuilding, however, my file is relatively new, and I only have 1 credit card, and I want to build. I won't easily get approved for chase or another of the main issuers because I'm a student, and my income is very low. I'm only likely to get uproved for a student card. I also explained in a previous reply why the cap1 journey isn't a good option for me. There is a student version of the chase freedom card, which may be a good option. What do you think?

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I was thinking more of going after Chase or Capital One after getting a card such as Discover Student and using it for a year. 

That card would be the first to go after. My step daughter applied for a Discover Student before going off to college and got an unsecured card with a CL of 1K. So its possible. Even with a secured card, that can graduate and keep you on the path of obtaining cards from respectable issuers.

Then after a year of use, you go for others, but never cards like Deserve.

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I already have a Discover student card, and that's my only card. I had it for over a year. I'm concerned about Capital1 for the reason I described above, but do you think I should go for a Chase?

[folks19]

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@Anonymous wrote:

Pretty sure if you put even around 6K income on an Amex app you can get something

There are certainly people who've gotten Chase cards and other big banks with low income: https://ficoforums.myfico.com/t5/Credit-Card-Approvals/PNC-denied-Chase-Freedom-approved/td-p/5948896 

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You think I have a chance to get upproved for an Amex card? I think I'll want to wait a month or 2 with that because of the financial situations that a lot of people are in now. Thanks for the advice though.

[joltdude]

Only a casual observation.. Getting a student card with discover vs a regular or secured card is a tad different than a student card with discover.... If i was still a student when i first apped for Discover, i would have gotten it based on an enhanced score..... though right now i wouldnt push my luck with a second disco even if i was eligible as a student... Not sure you can get a second Disco while student status.... Not seeing 4506Ts for student apps with them, or any others (does not mean its not happening but havent seen it)  ... a lot of students get income from W/S and it may not be reflected on their taxes yet.........it kinda doesnt make sense to pull them on student status unless somethings really out of whack....

-J

[CreditCrusader]

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@joltdude wrote:

Only a casual observation.. Getting a student card with discover vs a regular or secured card is a tad different than a student card with discover.... If i was still a student when i first apped for Discover, i would have gotten it based on an enhanced score..... though right now i wouldnt push my luck with a second disco even if i was eligible as a student... Not sure you can get a second Disco while student status.... Not seeing 4506Ts for student apps with them, or any others (does not mean its not happening but havent seen it)  ... a lot of students get income from W/S and it may not be reflected on their taxes yet.........it kinda doesnt make sense to pull them on student status unless somethings really out of whack....

-J

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Discover pulled it on my college student daughter...and then closed her account down when her income was MORE than she reported at first.

Discover is an odd bird. YMMV with them.

[joltdude]

@CreditCrusaderThat is wierd.. I get their thought process (she was "fibbing" to them on the app) but in fact she was giving them a conservative estimate .. If I were a bank, id be like.. i want this customer because they are reserved and cautious... That is extremely odd... 

Nothings a given, esp with the current economic climate.... and Miss Disco still can be ditzy, random, and unpredictable...

Sorry to hear that.. Did you try a CU instead?

Also thank you for the datapoint... Now i know they are even pulling it on student cards.... 

-J