Are there any prime cards that are more likely to approve someone who is just building credit for the first time?
I have student and auto loans in flawless standing.
I have an auto loan I paid off in 06 still on my report.
Never a late payment in my life.
I have a Macy's card with a $350 limit and a GE card with a 3k limit that can only be used for medical expenses.
But I am realizing that I can't pay cash for everything for ever and I would like an actual credit card.
Do I have to start with Gap cards, etc.? Or is there a grown-up credit card that I can apply for right out of the gate?
Lovie,
I'm assuming the scores you list in your signature are from here? I'd take a close look at the report because from what you described your posted scores don't quite match. If your score is simply depressed because your tradelines are short (under six months) I'd just wait for a bit before applying for anything.
640 is about the breakpoint into the lower tier of mainstream credit cards; if your history is clean, and you're getting more age on both of your current cards, I'd just sit on my hands for a bit and let my score boost, and then make the decision. FICO wise, the Gap card and the Carecredit (I'm assuming it's this?) assuming both are reported to all bureaus, are just fine for FICO score building, but as you suggest they're not ideal.
If you need a solution immediately, the Cap One card suggested, or BOFA's secured card if you can afford to make a deposit for a year are reasonable choices; but I think you may be better served just hanging out.
In any event, if you provide more information as to what's in your credit report (opening / closing dates, current balances, if anything else is on the report) we might be able to give you a better recommendation in terms of a strategy.
@Revelate wrote:Lovie,
I'm assuming the scores you list in your signature are from here? I'd take a close look at the report because from what you described your posted scores don't quite match. If your score is simply depressed because your tradelines are short (under six months) I'd just wait for a bit before applying for anything.
640 is about the breakpoint into the lower tier of mainstream credit cards; if your history is clean, and you're getting more age on both of your current cards, I'd just sit on my hands for a bit and let my score boost, and then make the decision. FICO wise, the Gap card and the Carecredit (I'm assuming it's this?) assuming both are reported to all bureaus, are just fine for FICO score building, but as you suggest they're not ideal.
If you need a solution immediately, the Cap One card suggested, or BOFA's secured card if you can afford to make a deposit for a year are reasonable choices; but I think you may be better served just hanging out.
In any event, if you provide more information as to what's in your credit report (opening / closing dates, current balances, if anything else is on the report) we might be able to give you a better recommendation in terms of a strategy.
Revelate-
Thank you! You are right I forgot to update my scores.
(I just had Verizon remove a paid chargeoff from an old internet account where the post office didn't forward final bill to my new address because Verizon had mis-spelled my last name- their bad. Also I had Macy's remove an older tradeline that had a 30 day late on it, and was closed by credit grantor due to lack of use. So by "flawless" I just meant that my CR now shows I have never had a 30 day late on anything. All of my payments are auto-withdraw.)
ACCOUNTS- 'pays as agreed'
1. Macy's opened 10/11 $52/300
2. GEcc opened 4/11 $250/3,000
3. Honda Financial opened 8/12 $5,261 left from $6,682
4. Department of Education opened 12/08 deferred, still in school
I just ran the myFICO scorewatch and was told that my average age of accounts is under 2 years which is the main problem. I really do think my issue is just not a long enough history- I am 33 years old. So maybe it's just unusual for someone my age to have not built a credit history until now? TU is now 645, not sure about EQ or EXP. So I think I will take your advice and just wait for a few months, paying my auto/student loans and using my two existing cards to build my score. Then I may check back with the forum for advice.
Gardening, as they say? 
bs6054-
Yep it's the Care Credit.
I think that may be hurting me a bit too because when I first got it I was so excited to "build credit" that I kept maxing out 3k and paying it off same month. When that is apparently the worst way to use your cards? So the high balance is listed as $3,025 due to a first time use fee of $25. Wish I had known that is not the way to build credit!
You're doing fine, FWIW I didn't start caring about my credit until nearly 37 and was cash-based for everything except for rental cars for nearly two decades. Personally I wish I'd gone through my own journey starting at 33 but c'est la vie. We are a bit atypical in modern society though.
Your history isn't that short, but you have enough tradelines established now from a FICO perspective; you may not be getting much in the way of rewards and admittedly it's inconvenient but you're right on the cusp of decent cards score wise, and if you can wait a bit (I'd check again in roughly March) you may be in a better position as you have a decent setup now from a pure score building standpoint.
No need to worry about the high balance, if anything underwriters will see it as a positive in my opinion, and FICO doesn't care about it at all. You used the card and paid it back, that's what credit cards are designed for and you're at a good utilization number now.
Moving Forward-
I have read a lot of unfavorable comments about Cap1 on these forums. Is it good to get a card like that just to start or wait until I could get a better type of card?
I appreciate all advice. Thanks so much!
