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Good Cards for Beginners

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Contributor

Good Cards for Beginners

My fiance is fairly new to credit, I have her as AUs on my 6 Credit Cards right now and I had her apply for the Capital One Platinum which she was approved for back in April 2019 for $300, after 3 months I was looking to see if she was eligible for an upgrade and I had her upgrade to the Quicksilver after that we needed a new bedroom set so since I knew I was at my limit I had her apply for an IKEA card and she was instantly approved for $6,000

 

After awhile she started to see how far good credit can get you and understood where I was coming from especially with us saving up for a house in the next 2 years. So I tried to apply for another card under such as beginner cards. I tried Amex Express Everday which was denied for lack of history, a week later I asked her to apply for tha BoA Cash Rewards card and she was denied then she went on her own to apply for the Discover Card Gas & Resturant and she was denied again. I was attempting to have her apply for Ducks Unlimited just primarly on gas since we drive around a lot but I'm not sure if they do well with new credit seekers, does anyone have any suggestions?

 

Starting Score: 585
Current Score: 740
Goal Score: 800


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Message 1 of 25
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Super Contributor

Re: Good Cards for Beginners

Once she has about a year of her own credit, have her try disco and amex again. Chase will need minimum of 12 months usually, but their problem is they hard pull for increases, so it's better that she builds some history to get a higher starting limit with them in the first place. I'd probably wait 1 1/2 years of more before going for them.







Message 2 of 25
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Re: Good Cards for Beginners


@Brian_Earl_Spilner wrote:

Once she has about a year of her own credit, have her try disco and amex again. Chase will need minimum of 12 months usually, but their problem is they hard pull for increases, so it's better that she builds some history to get a higher starting limit with them in the first place. I'd probably wait 1 1/2 years of more before going for them.


...and the 6 AU accounts (with YMMV exceptions) count towards 5/24.

 

HP for CLIs, yes...but SLs can be good and reallocation is easy.

 

Chase requiring 12 months is also YMMV, though. I know they sometimes give checking/savings customers a card without any credit history.

Spend: BofA PR + WWFCR, BBP, Schwab Platinum, CFF+CF, Costco, Discover
Perks: IHG49, Hyatt75, Delta Platinum, "Old" SPG95
SD/AAoA Ballast: Arrival, CFU, DC
Upgrade/downgrade games: BCE, EDP
Mostly earning MRs and cash back as I use up hotel and airline points spread across several programs.
Message 3 of 25
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Re: Good Cards for Beginners


@wasCB14 wrote:

@Brian_Earl_Spilner wrote:

Once she has about a year of her own credit, have her try disco and amex again. Chase will need minimum of 12 months usually, but their problem is they hard pull for increases, so it's better that she builds some history to get a higher starting limit with them in the first place. I'd probably wait 1 1/2 years of more before going for them.


...and the 6 AU accounts (with YMMV exceptions) count towards 5/24.

 

HP for CLIs, yes...but SLs can be good and reallocation is easy.

 

Chase requiring 12 months is also YMMV, though. I know they sometimes give checking/savings customers a card without any credit history.


The AU accounts can be removed from a report depending on who they are. 

 

SL can be good for someone with no history. Can't reallocate if she doesn't have more than one which means another 6 months for the second card.

 

12 months is pretty standard. Are there outliers? Yes, but not many. Chase doesn't care about relationships so a checking/saving won't help. Those people are just anomolies.







Message 4 of 25
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Frequent Contributor

Re: Good Cards for Beginners

If she's desperate, CreditOne has a credit building CC. I don't highly recommend them as the CL's are low and she'll eventually outgrow it. https://www.creditonebank.com

 

Probably sucks to hear this, but she needs time to age her accounts. Disco & Amex in 6-12 mos sounds like a good plan.

 

 







Message 5 of 25
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Re: Good Cards for Beginners

It was a few years ago, but my sister and I both started our credit histories with Freedom. $600 SL for me, but still an instant approval.

 

OP, with recent inquiries and her own card not having 6 months of history yet, it may be good to hold off on apps until November or December.

Spend: BofA PR + WWFCR, BBP, Schwab Platinum, CFF+CF, Costco, Discover
Perks: IHG49, Hyatt75, Delta Platinum, "Old" SPG95
SD/AAoA Ballast: Arrival, CFU, DC
Upgrade/downgrade games: BCE, EDP
Mostly earning MRs and cash back as I use up hotel and airline points spread across several programs.
Message 6 of 25
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Super Contributor

Re: Good Cards for Beginners

Stop applying for credit. She's getting denied. Come up with a strategy.

Have you reviewed the denial letters with her? What are the cited reasons for denial?

If she's new to credit, have you actual checked to see if she has FICO scores generated?

How long ago was the BoA denial? If BoA app was recent, I would suggest going in branch or call csr and see if they can recycle the hard pull. They can counter with secured card. They offer $99 deposit for $500 credit line. BoA can graduate early and offers soft pull credit limit increase.
Message 7 of 25
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New Contributor

Re: Good Cards for Beginners

She needs to let what she has age a bit before applying for anything else. You don't want her to have so many HPs on such a thin file. Have her pull her FICO and see where it's at right now and then the rest is patience.
TU Fico8 score December 2018 - 585
TU Fico8 score April 2020 - 709

Cards in order of opening, starting from December 2018
Indigo - $300 (closed before AF! Helped with rebuild)
Fingerhut - $900
Cap1 QS1 - $500 (want to close it so badly!)
Lord & Taylor - $750
CareCredit - $12,000
Tractor Supply - $2,000
Discover - $2,300
Amazon Store Card - $4,000
BBVA Clearpoints - $4,700
Home Depot - $4,000
Ashley Advantage - $3,500
Message 8 of 25
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Re: Good Cards for Beginners


@Raisondetre wrote:
She needs to let what she has age a bit before applying for anything else. You don't want her to have so many HPs on such a thin file. Have her pull her FICO and see where it's at right now and then the rest is patience.

She has some pretty decent scores, TU 751, EQ 720, EX 790 but the thin file is what's killing it right now.

Starting Score: 585
Current Score: 740
Goal Score: 800


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Message 9 of 25
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Re: Good Cards for Beginners


@Adreno wrote:

My fiance is fairly new to credit, I have her as AUs on my 6 Credit Cards right now and I had her apply for the Capital One Platinum which she was approved for back in April 2019 for $300, after 3 months I was looking to see if she was eligible for an upgrade and I had her upgrade to the Quicksilver after that we needed a new bedroom set so since I knew I was at my limit I had her apply for an IKEA card and she was instantly approved for $6,000

 

After awhile she started to see how far good credit can get you and understood where I was coming from especially with us saving up for a house in the next 2 years. So I tried to apply for another card under such as beginner cards. I tried Amex Express Everday which was denied for lack of history, a week later I asked her to apply for tha BoA Cash Rewards card and she was denied then she went on her own to apply for the Discover Card Gas & Resturant and she was denied again. I was attempting to have her apply for Ducks Unlimited just primarly on gas since we drive around a lot but I'm not sure if they do well with new credit seekers, does anyone have any suggestions?

 


Hi and welcome to myFICO

 

Please STOP having her apply for credit! One denial should have stopped you from nudging her to get more credit. 😢 Unfortunately, she has wasted HPs and you're still wanting her to continue on the merry-go-round. I’m sorry, but she has to get off the ride—now.

 

It’s time to garden and start reading on what it takes to maintain good credit. It’s waiting 6 months before applying for cards. It’s checking prequal sites to see if there are any prequals before taking the plunge (then decide). lt’s allowing cards in one’s pocket to age. It’s keeping UT low and of course making on time payments.  

 

So, the main thing to remember is that building a great credit profile is a marathon, not a sprint. Like the tale of the tortoise and hare—slow and steady wins the race. 

 

GL2U


DEC 2019: EX 816, TU 820, EQ 810
DEC 2018: EX 777, TU 783, EQ 799

|| AmX Cash Magnet $40.5K || NFCU CashRewards $30K || Discover IT $24.7K || Macy's $20K || NFCU CLOC $15K || CitiCostco $12.7K || NFCU Platinum $12.5K || Apple Card $6.5K ||
Message 10 of 25
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