Is high credit score enough for your first card?

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Is high credit score enough for your first card?

Postby fatwallet » Fri Jun 22, 2012 1:35 pm

First of all, thank you for your input, this forum was a great resource for me.

And now for the question....
I moved to U.S. 3 years ago, so at that time I had 0 credit history. In 2010 I added myself to my husband's CC account as an AU. He had that CC since 2000, with CL of 9200$, and always paid in full on time, his CS is excellent at ~780. So far that AU is the only thing I have on my CH.

Now a few weeks ago I finally got my first (low paying, ~18k/ year) job and would like to get my first independent CC to build my credit. Before checking my CS I was settled with the idea that I will get a secured CC and build my creditworthiness annoyingly slowly. To my surprise, when I recently checked my CS, I got 789 FICO from Equifax and a 805 (or B) Vantage Score from Experian. I guess the automated system took into account the 12 y.o. CC history, credit use of 30% or less and always paying in full on time.

So my question is... Is it realistic for me to shoot for something better that secured credit card? I have that allegedly high score, which, I guess, won't impress a bank clerk without stable salary and diversified credit. I have lived at my current address for some years now, that shows stability. On the other hand, I have no work history, just a low paying job that's a few weeks old. I am very frugal and responsible with money, I don't need a huge credit limit, just a decent CC without ridiculous fees. If I could get cash back- even better, because our current Citi Diamond Preferred with Extra Cash just sucks.

My husband with his excellent credit history could have a Chase Freedom or something similar, but he's just very conservative when it comes to credit. But maybe that's why his score is excellent :)

So... What card could I realistically get... I don't want to apply and get denied. And should I wait before applying to build some work history?

Thanks and sorry for such a long post...

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Postby MemberSince99 » Sat Jun 23, 2012 7:06 pm

Your scores are high enough for about anything just based on scores alone.

But many companies (probably most) take more than scores into consideration - if they didn't, I wouldn't have recently gotten turned down from companies with mine.

So, there are no guaranteed approvals out there. You just have to apply and see. Those scores should be fine but I can't see your inquiries, and don't know how many consider 30% more than they want to deal with, etc. I would say go for mid to upper tier cards, just a couple that you want and give it a shot.

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Postby lucasoil4u » Mon Jun 25, 2012 10:00 am

I would make sure that you apply to one card that you want to get and see what happens. Thats all you can do and best of luck!!

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Postby Money card » Mon Jun 25, 2012 10:54 pm

Since you are married why not use his cards? What I mean is if he has a Green American Express, why not ask him to get you the same card?

if you just recently got married and for security reasons you want your own cards, that I understand. the chase freedom sounds like a nice idea.

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Postby DavidNY » Tue Jun 26, 2012 9:20 am

If you put the household income on the apps, you should be good to go for pretty much whichever card you'd like.

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