cancel
Showing results for 
Search instead for 
Did you mean: 

What card should I apply for to fill out my file?

Auto Loans for ANY Credit Situation. Immediate Response.
Advertiser disclosure
Highlighted
Established Member

What card should I apply for to fill out my file?

On another post, I mentioned i was denied for an unsecured loan due to my thin profile. I have 1 CC under my name right now that's reporting (Capital One - $500 limit) and I just got approved for a Discover IT card with a $2k limit. This did not show up on my report yet since I didn't evne receive it, but the HP is on there right away. I am an AU on a Best Buy card with a 6k limit (w/ a balance of $1999.99 right now, will be lower in a few days - but reporting at $2099.99) - this is under an interest free promo until Nov 2019  which is why I haven't been super quick to pay it further down yet. 


According to Experian's website, my fico is at 685 w/ 5 inquiries ( 3 recent - discover 2 x, 1 credit union for the loan).

My credit union suggested I get another card to show more of a payment history and to boost my profile, or get an unsecured loan which I'm hesitant to do (who has a few extra hundred bucks laying around to be tied up for a year) unless I absolutely have to.

 

Any decent cards that I may qualify for based on your experience? Maybe get a retail card like Amazon or Target? I'm not sure if they would report the same as a regular credit card or not.

 

edit: income is about $34k/yr if that matters.

Starting Score: about 500
Current Score: 629
Goal Score: 720


Take the myFICO Fitness Challenge
6 REPLIES 6
Valued Contributor

Re: What card should I apply for to fill out my file?

I would look into prequals with BoA and Amex. Amex usually is easier with thin profiles so I would look into that first. The bigger issue at hand is the balance reporting. 6k card with 2k used is basically 33%, that's crossing 2 thresholds, which is easily holding your score down by 20-40 points (estimated). I would either pay that down, or wait until the discover reports, which should bring your TCL to 8k, which would bring your UTI down to 25%, that's still a bit high but it brings you under the 28% threshold.

Depending on what your looking for - Amex & BoA come to mind. Depending on how your AAoA is, you may be able to throw Citi or Synchrony (Paypal 2% card) in it.


Scores - All bureaus 750 +/-
TCL - Est. $275K
Message 2 of 7
Frequent Contributor

Re: What card should I apply for to fill out my file?

In my opinion, an unsecured loan isn''t a bad idea.

1 get loan = $XXXX

2 put $XXXX in an account

3 make auto payments from that account.

Like the Ronco commercial "SET IT aaaaaaaaand FORGET IT" for the term of the loan. I did that with a small $500 personal loan years back when my credit was in the toilet. I then paid it off in 10 months because at the time I thought paying it off early would look better... hmmmmmm. It was a credit restart.... 






RIP: EECU PLOC | BBVA PLOC | Chase SP | Chase Amazon | Chase Freedom | WF Propel | Cap1 QS | AMEX Gold
Message 3 of 7
Community Leader
Senior Contributor

Re: What card should I apply for to fill out my file?

@Vita36, how old is your Capital One card?

 

I don't think you're losing 40 points on utilization, but 20 might be in the ballpark. What's more important is the look. Apply when each card shows utilization of 28.9% or below.

 

AMEX is a good suggestion, but you don't want to apply too early. If your Capital One card is at least six months old, I'd apply once Discover has reported three or more payments. The main thing you want to avoid with AMEX is a low limit as those are hard to grow.

Message 4 of 7
Established Contributor

Re: What card should I apply for to fill out my file?

I agree with the posters OP.  Pay that BB card down, everything reporting under 30%, and letting DC report a few payments wouldn't hurt.

At that point I would shoot for AE.  They are ok with thinner files and the have the ability to grow quickly.

 

Good luck with your journey!

Amex Gold =Amex ED 20k = Amex BCP 14k = Amex SPG Lux 2k = Arrival 2k = Ring 14k = BOA 321 30k = BOA BBR 10k = CSR 25k = Freedom 10k = Citi Simplicity 9k = Citi DC 5k = Citi DP 3k = DCVR IT 15k = DCVR MILES 7k = CAP1 QS 15k = NFCU CR24k/AE25k/CLOC 15k = BBVA 14k = Wells Plat. 5k = (2) US Bank Cash+ 9k, 14k

FICO scores TU 764 EX 739 EQ 745
Message 5 of 7
Established Member

Re: What card should I apply for to fill out my file?

Thank you all so much! I was leaning towards amex because their rewards seem to be pretty decent and it would work along side the discover card and I can kind of tackle all categories for the higher rewards. Cap 1 is definitely at least 6 months old and has always been on time. Any time I reported a balance with them, which is hardly ever, I made sure to keep it lower than 8% because of the high balance on the BB card. I think instead of just paying enough to have the balance paid off by Nov (before the interest hits), I'll focus on getting it paid off much faster. That along side of the small secured loan should help. By then, I'll have a few months on the Discover card and hopefully can get my foot in the door with amex. I don't really necessarily care about a high SL to start off, I know it looks good but I don't plan on putting anything on it that I don't already purchase anyway so it's not a make-or-break deal. Overall though it sounds like the general consensus is to NOT apply for any additional cards right now until I at least get the balance paid down and a few payments reported for Discover. Smiley Happy

Starting Score: about 500
Current Score: 629
Goal Score: 720


Take the myFICO Fitness Challenge
Message 6 of 7
Moderator

Re: What card should I apply for to fill out my file?

Hi there OP, I have moved your thread from the CC section here and removed the cross post on it. Please refrain from cross posting its not inline with our TOS and it can lead to confusion by the members. If you post in the wrong area you can request the thread be evaluated for a move by using the report inappropriate content selection from the pull down menu in upper right hand corner of every post. Thanks for your understanding on this.
"If there's a lack of money in your life, understand that feeling worried, envious, jealous, disappointed, discouraged, doubtful or fearful about money can never bring more money to you, because those feelings come from a lack of gratitude for the money you have."

"Reactions are powerful creators because they contain every element needed to manifest—they're a combination of thought, belief, and feeling in action. Positive reactions create more positive things, and negative reactions create more negative things. If you can respond to negative situations calmly and lightly, instead of with emotional turbulence, what happens next in your life will be so much better."

- Rhonda Byrne

Message 7 of 7
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.