First credit card Suggestions???

[Anonymous]

Hello, I am new on here. 23 years old, a little more than a year out of college, and earn in the $50,000 a year as an accountant. I want to get a credit/charge card to start building my credit more before buying a house ina few years.  Right out of college, I applied for 2 higher end cards and got denied.  I have credit history from paying bills for my apartment and I have had a Shell gas credit card for about 8 months.  I was listed on my parents credit card for awhile, and my score is around 700 (680-725) last few times I checked. 

I constantly get offers for American Express Gold Card and Zinc Card saying I am pre selected and earned a great card. However, I do not want to apply and get denied again because I hear to many inquires can hurt your credit score.  I have also been looking at the capital one no hassle cash card, as that seems to be for people with not much credit history but decent scores. I have not been late on any payments and always plan to pay my balance in full.

Any advice on card is appreciated.

Thank you.

[DrJim]

You can go to the AMEX website and see if you are preapproved for any cards.  I was preapproved for the Gold card and a year later switched to the Delta Gold Skymiles card.

Also, CU's seem to be more lenient, you may want to join one if you don't already belong.  I have a Navy FCU card that just went to $15K.

Or, check where you bank since you already have an established relationship with them.  I bank with Wells Fargo - they started me off with a $10K limit that they increased to $13.5 after my first year with them.

Good luck.  Let us know how things go!

[coldnmn]

Cap 1 is a good card for building credit. I would guess you would get approved  with a $500 dollar credit limit and a $39 annual fee. A better choice is to get a credit card from a credit union. You may have to get a secured card but most will unsecure it within a year and return your deposit. Check out www.whogavemecredit.com it may give you a better understanding of the credit needed. I hope this helps I started with a Cap1 card no annual fee a year ago and was just approved for Discover. Cap1 and Discover are a few that have preapproval sites. They are a soft pull and will tell you what you would more then likely get approved for. 

[castlefox]

+1 to a credit union.               Just dont expect crazy rewards.  On average you will get a rather low APR from a credit union though.

[Anonymous]

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@Anonymous wrote:

Hello, I am new on here. 23 years old, a little more than a year out of college, and earn in the $50,000 a year as an accountant. I want to get a credit/charge card to start building my credit more before buying a house ina few years.  Right out of college, I applied for 2 higher end cards and got denied.  I have credit history from paying bills for my apartment and I have had a Shell gas credit card for about 8 months.  I was listed on my parents credit card for awhile, and my score is around 700 (680-725) last few times I checked. 

I constantly get offers for American Express Gold Card and Zinc Card saying I am pre selected and earned a great card. However, I do not want to apply and get denied again because I hear to many inquires can hurt your credit score.  I have also been looking at the capital one no hassle cash card, as that seems to be for people with not much credit history but decent scores. I have not been late on any payments and always plan to pay my balance in full.

Any advice on card is appreciated.

Thank you.

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From what I understand when you app for more than one AMEX on the same day it counts as one INQ as long as they're all charge cards or all credit cards. (I believe mixing the two would result in two)

[CreditMuppet]

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@Anonymous wrote:

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@Anonymous wrote:

Hello, I am new on here. 23 years old, a little more than a year out of college, and earn in the $50,000 a year as an accountant. I want to get a credit/charge card to start building my credit more before buying a house ina few years.  Right out of college, I applied for 2 higher end cards and got denied.  I have credit history from paying bills for my apartment and I have had a Shell gas credit card for about 8 months.  I was listed on my parents credit card for awhile, and my score is around 700 (680-725) last few times I checked. 

I constantly get offers for American Express Gold Card and Zinc Card saying I am pre selected and earned a great card. However, I do not want to apply and get denied again because I hear to many inquires can hurt your credit score.  I have also been looking at the capital one no hassle cash card, as that seems to be for people with not much credit history but decent scores. I have not been late on any payments and always plan to pay my balance in full.

Any advice on card is appreciated.

Thank you.

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From what I understand when you app for more than one AMEX on the same day it counts as one INQ as long as they're all charge cards or all credit cards. (I believe mixing the two would result in two)

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Actually the type of card be it charge or credit doesnt matter.  Your correct though depending on your score you can app multiiple products charge or credit for a single inquiry though that may depend if you are approved/instantly approved for the first product.   Of course if your denied or recon this does not apply and its possible you may end up with more than one inquiry.

[Anonymous]

I suggest you start with Capital One.    When you have over 6 months of history reporting, then take one of the Amex offers.    They will keep coming.

[KIPPIE12]

Agree with what Wolf says here, they will keep coming along with other prime lenders.

[Anonymous]

I do remember CapOne was the first to accept me when I had no credit and all the other banks denied me. Unfournately CapOne is no longer with me

[Anonymous]

Thanks for the advice. I am still torn.  What about the chase freedom card? would that be a card I can be approved for considering my shell card, limit 600,  ive had for 9 months and a score around 700.