Does a auto loan help you get approved for a credit card?

[MrYoung420]

I got approved for a 31k auto loan with no credit. (big down payment) when I apply for a credit card will it be more harder to get approved or easy? 

[Aduke1122]

It's a completely different kind of credit , your car loan is backed by collateral being your car and if you don't pay they can come take the car , an unsecured card is back by nothIng they take a risk by giving you credit bc you have no collateral against it if you were to stop paying , they just get burned .

For someone who has no credit and wants a credit card I would recommend a secured credit card to build some revolving credit history them after 6 mths to a year you will have build some history and be able to get better unsecured cards .

[Aduke1122]

No when you say you have NO CREDIT , does that mean you have absolutely never had anything in your name bf now or do you have bad credit issues to attend to ?

[ChargedUp]

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@Aduke1122 wrote:
No when you say you have NO CREDIT , does that mean you have absolutely never had anything in your name bf now or do you have bad credit issues to attend to ?

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Bad credit means you have derogatory marks and/or late payments. No credit means you have a blank slate.

Making car payments does build credit history. How they factor in when applying for a credit card depends mostly on what scoring model that the issuing bank is using.

[elim]

I think ANY green marks certainly help. How many on-time payments have reported on the loan? 6 months is pretty good. If not approved, grab a secured card (one that graduates) and add some more positive history.  GL   :]

ETA: typo's

[ecxpa]

An auto loan is considered an installment account which figures into what they call a "credit mix" and having a good installment account does affect your credit score which in turn could help you in obtaining a credit card.    If you were approved for a 31K loan and it is reporting I would recommend you try Chase and Cap1 prequalify sites to see if they offer  anything