@Anonymous wrote:
@xXIDaShizIXx wrote:
@Anonymous wrote:
@xXIDaShizIXx wrote:
@Anonymous wrote:
@xXIDaShizIXx wrote:
@Anonymous wrote:
@xXIDaShizIXx wrote:
@Jeff007245 wrote:How about starting a new account with mainstream banks that can graduate.
Bank of America
Citi Bank
Chase
US Bank
Wells Fargo
etc...
The reason you may be getting declined for the student cards is because of your balance and utilization on your GE card. Pay that off and let it report when you apply. Even for the secured cards its imperative that you apply with your reports are best looking as they can be.
This was before I got the GE card. I got it at the beginning of this month. Should I get the bank of america secured card? I just really don't want to throw any more money at secured cards, because I really don't have it as it is at the moment.
BOA will at least graduate if you can get approved. Is your income lower? If you can't necessarily afford it that may be another reason for the denials. It may also be a reason to perhaps not look for credit at this time.. at least not til your situation levels out and improves.
I hate to ask such a sensitive thing, but that is something that they are looking at.
I make about 30,000 a year presently. Like I said, I will be going to a doctoral program soon, in August, and will have to leave my job (moving out of state). And my pay will be cut rather drastically. Not that they know that.
Gotcha. After you graduate, I assume you'll be in a career where you'll make more than you are currently. As a heads up, it's going to get you scolded if you say you're applying for credit with your income knowing it's going to be cut down... that being neither here or there... I think at this point, perhaps a secured loan such as the credit builder loan I linked, or another secured CC might be your best bet. However, I'd ignore both of those at this point. You can still wait and apply for an unsecured CC once you have your UTL reporting to your credit bureaus on that Car Care account under 10% (perhaps even 20%) . Assuming your inquiries aren't high, you should get approved for something since your scores are other wise decent.
Do you think it would be safest to just get another secured card and just have those for the next few years and slowly raise those limits?
No. What I think is that if you pay off the car credit, you MIGHT be able to get another card- unsecured as soon as it reports. (again, depending on if your inquiries are low)
Other wise perhaps you might need one more secured card for maybe 6 months, a year at most... again, depending on how many inquiries you have. Other wise, if you have no derogs, you have nothing really preventing you from getting decent and unsecured cards sooner than " a few" years.
If I did another secured card, what here are the three im considering: The discover it secured, bank of america, and of course the one with my bank (BBVA Compass). I was holding out going to a credit union until we got moved, settled, and I got commissioned through the HPSP. Then I was going to join one of the military related credit unions.
BOA unsecures eventually, but I don't know about any others. I never looked in to it. If you're in the military, NFCU seems incredibly generous and amazing from what I've read. (also, thank you for your service, or thank you for your future service!!)
Its a support role, I'll leave the praise to those in the combat roles, but thank you
But yeah BoA seems like the best deal. When I pay off the GE capital card, should I ask for a CLI?
@xXIDaShizIXx wrote:
@Anonymous wrote:
@xXIDaShizIXx wrote:
@Anonymous wrote:
@xXIDaShizIXx wrote:
@Anonymous wrote:
@xXIDaShizIXx wrote:
@Anonymous wrote:
@xXIDaShizIXx wrote:
@Jeff007245 wrote:How about starting a new account with mainstream banks that can graduate.
Bank of America
Citi Bank
Chase
US Bank
Wells Fargo
etc...
The reason you may be getting declined for the student cards is because of your balance and utilization on your GE card. Pay that off and let it report when you apply. Even for the secured cards its imperative that you apply with your reports are best looking as they can be.
This was before I got the GE card. I got it at the beginning of this month. Should I get the bank of america secured card? I just really don't want to throw any more money at secured cards, because I really don't have it as it is at the moment.
BOA will at least graduate if you can get approved. Is your income lower? If you can't necessarily afford it that may be another reason for the denials. It may also be a reason to perhaps not look for credit at this time.. at least not til your situation levels out and improves.
I hate to ask such a sensitive thing, but that is something that they are looking at.
I make about 30,000 a year presently. Like I said, I will be going to a doctoral program soon, in August, and will have to leave my job (moving out of state). And my pay will be cut rather drastically. Not that they know that.
Gotcha. After you graduate, I assume you'll be in a career where you'll make more than you are currently. As a heads up, it's going to get you scolded if you say you're applying for credit with your income knowing it's going to be cut down... that being neither here or there... I think at this point, perhaps a secured loan such as the credit builder loan I linked, or another secured CC might be your best bet. However, I'd ignore both of those at this point. You can still wait and apply for an unsecured CC once you have your UTL reporting to your credit bureaus on that Car Care account under 10% (perhaps even 20%) . Assuming your inquiries aren't high, you should get approved for something since your scores are other wise decent.
Do you think it would be safest to just get another secured card and just have those for the next few years and slowly raise those limits?
No. What I think is that if you pay off the car credit, you MIGHT be able to get another card- unsecured as soon as it reports. (again, depending on if your inquiries are low)
Other wise perhaps you might need one more secured card for maybe 6 months, a year at most... again, depending on how many inquiries you have. Other wise, if you have no derogs, you have nothing really preventing you from getting decent and unsecured cards sooner than " a few" years.
If I did another secured card, what here are the three im considering: The discover it secured, bank of america, and of course the one with my bank (BBVA Compass). I was holding out going to a credit union until we got moved, settled, and I got commissioned through the HPSP. Then I was going to join one of the military related credit unions.
BOA unsecures eventually, but I don't know about any others. I never looked in to it. If you're in the military, NFCU seems incredibly generous and amazing from what I've read. (also, thank you for your service, or thank you for your future service!!)
Its a support role, I'll leave the praise to those in the combat roles, but thank you
Don't be humble, every one needs support. 
The well wishes are just as sincere and heartfelt, combat or no. I would. I'd absolutely ask for soft pull credit limit increases on all accounts any time I can once the balances are low enough to put you in a position of strength.
As long as it's a SP. I don't think you can afford any more HP for the next 6 months to a year if you ever want a chance with Discover and other Prime Cards.
@Anonymous wrote:
@xXIDaShizIXx wrote:
@Anonymous wrote:
@xXIDaShizIXx wrote:
@Anonymous wrote:
@xXIDaShizIXx wrote:
@Anonymous wrote:
@xXIDaShizIXx wrote:
@Anonymous wrote:
@xXIDaShizIXx wrote:
@Jeff007245 wrote:How about starting a new account with mainstream banks that can graduate.
Bank of America
Citi Bank
Chase
US Bank
Wells Fargo
etc...
The reason you may be getting declined for the student cards is because of your balance and utilization on your GE card. Pay that off and let it report when you apply. Even for the secured cards its imperative that you apply with your reports are best looking as they can be.
This was before I got the GE card. I got it at the beginning of this month. Should I get the bank of america secured card? I just really don't want to throw any more money at secured cards, because I really don't have it as it is at the moment.
BOA will at least graduate if you can get approved. Is your income lower? If you can't necessarily afford it that may be another reason for the denials. It may also be a reason to perhaps not look for credit at this time.. at least not til your situation levels out and improves.
I hate to ask such a sensitive thing, but that is something that they are looking at.
I make about 30,000 a year presently. Like I said, I will be going to a doctoral program soon, in August, and will have to leave my job (moving out of state). And my pay will be cut rather drastically. Not that they know that.
Gotcha. After you graduate, I assume you'll be in a career where you'll make more than you are currently. As a heads up, it's going to get you scolded if you say you're applying for credit with your income knowing it's going to be cut down... that being neither here or there... I think at this point, perhaps a secured loan such as the credit builder loan I linked, or another secured CC might be your best bet. However, I'd ignore both of those at this point. You can still wait and apply for an unsecured CC once you have your UTL reporting to your credit bureaus on that Car Care account under 10% (perhaps even 20%) . Assuming your inquiries aren't high, you should get approved for something since your scores are other wise decent.
Do you think it would be safest to just get another secured card and just have those for the next few years and slowly raise those limits?
No. What I think is that if you pay off the car credit, you MIGHT be able to get another card- unsecured as soon as it reports. (again, depending on if your inquiries are low)
Other wise perhaps you might need one more secured card for maybe 6 months, a year at most... again, depending on how many inquiries you have. Other wise, if you have no derogs, you have nothing really preventing you from getting decent and unsecured cards sooner than " a few" years.
If I did another secured card, what here are the three im considering: The discover it secured, bank of america, and of course the one with my bank (BBVA Compass). I was holding out going to a credit union until we got moved, settled, and I got commissioned through the HPSP. Then I was going to join one of the military related credit unions.
BOA unsecures eventually, but I don't know about any others. I never looked in to it. If you're in the military, NFCU seems incredibly generous and amazing from what I've read. (also, thank you for your service, or thank you for your future service!!)
Its a support role, I'll leave the praise to those in the combat roles, but thank you
Don't be humble, every one needs support.
Well thank you But yeah, I'll have it paid in two months since borrowing, so that should be good hopefully.
Have you pulled your free annual credit report to know how your credit file looks? As far as inquiries etc?
Discover IT $17k / US Bank Ace (VSig) $13.5K / US Bank Cash+ (VSig) $13.5k
@xXIDaShizIXx wrote:Also if I get the BoA secured card, how much should I put on it for the deposit?
Whatever amount you could live without for about a year. $300.00 is minimum. However, if you want max starting CL with prime cards when you start applying and getting approved, try depositing a high amount so that new lenders will look at your CL and base theirs on that.
1K - 5k would net you nice starting limits for future cards if you take care of your accounts for a year.