First Credit Card

[Anonymous]

It's my first time on the boards and first time really dealing with credit, so I apologize if this is an ignorant question or not the right forum to present it.

I'm 28 years old and late to the game, just now focusing on my credit score. I'm looking to get my first credit card. My credit score appears to be in the 712-720 range with 0 marks, 0 inquiries in the past 2 years, 100% payment history, and Average Age of Credit is 7 years 8 months. The issue now is my "utilization". For the past 10 years I have been an "authorized user" on my father's credit card. I never actually used the card, it was just there for emergencies. However, he uses the card for all of his purchases and then pays the balance in full each month. So as far as my credit report is concerned, I've been charging $6,000 every month for the past 10 years and have a credit utilization of 79%.  Yesterday (1/8/15) I officially removed myself as an authorized user from my fathers account, and am now looking to find my own credit card to build up my credit.

So I guess my questions would be:

1: Has being an authorized user on my fathers card hurt my credit in any long term way?

2: Was I correct in removing myself from the account before applying for my own card?

3: When should I apply for my new card? Is there a certain period of time I need to wait before the 79% utilization will no longer appear on my credit report?

4: Would it be foolish to apply for a card that looks for a good to excellent credit score such as the American Express Blue Cash Everyday card?

Thank you for any and all input.

[1GaDawg85]

Have you tried any pre-quals?

[Anonymous]

No, I haven't done any pre-quals. Would that be the first step?

[1GaDawg85]

Yes, that would your first move!

[waters]

Being an authorized user put you ahead of the game so no worries there.

I would try the chase and capital one pre qualify sites and see if anything comes up.

Good luck on your credit journey

[Anonymous]

Yea I would skip Capital Ones triple hard pull per application if you can do better, which I believe you can, but thats me. Unless you really want one of their cards. Try Chase, Amex and Citi prequals. Discovers card is great if it interests you but the prequal is useless so dont pay attention to it.

[Anonymous]

Thanks everyone for the awesome input and guidance. HeavenlyFlower are you happy with the Amex BCE and Discover It? Those were 2 I was seriously concidering.

[Anonymous]

Absolutely! Discovers online deals aside from the categories have been very useful to me. BCE is a nice back up to Sallie Mae and I did take advantage of one Amex offer so far. But if you are looking for a grocery card Id say try for Sallie Mae its 5% vs. 3% but has a $250 cap per month for groceries. Havent had the cards that long but pleased with all of them

[Anonymous]

Removing yourself as an AU probably destroyed your record. Typically, removal as AU removes the entire history related to that card, so you don't have the AAoA, utilization, or anything else related to that card any more. As far as your account is concerned, that card likely never existed. 

My first card was a $500 card through my local credit union. I would recommend starting with whomever you bank with. You'll probably get a decent starter card through them, and be able to build your credit history from there. 

[Anonymous]

Answering your actual questions...

So I guess my questions would be:

1: Has being an authorized user on my fathers card hurt my credit in any long term way?

     Most likely, being an AU helped out your score tremendously, even with the spiked utilization

2: Was I correct in removing myself from the account before applying for my own card?

     This was probably a large mistake. I'm guessing you lost 100 points in the process and are in the 600s now, assuming you have no other history. Basically, you're now a clean slate and the CCC's ahve nothing to go on. I'm not even sure how they would give you a score. 

3: When should I apply for my new card? Is there a certain period of time I need to wait before the 79% utilization will no longer appear on my credit report?

     Apply as soon as possible. Maybe you won't have been removed as AU yet.

4: Would it be foolish to apply for a card that looks for a good to excellent credit score such as the American Express Blue Cash Everyday card?

    Yes and no. Apply for something basic first, like a card through your bank/credit union. If you get approved for that, you can apply for BCE/BCP, knowing you have something to fall back on. Amex BCP was my third card, so they do take relatively minimal histories. I think CapOne/Discover might also like thin histories.