Helping My Friend's Credit

For just about anything you want to get off your chest about credit cards.
15 posts
DavidNY
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Location: New York

Postby DavidNY » Sun Oct 14, 2012 1:55 pm

A BofA secured card should eventually convert to an unsecured card and from everything I've read about the two companies he'll be more likely to have realistic credit line increases.


kcarter609
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Location: VA

Postby kcarter609 » Thu Dec 20, 2012 8:04 am

Sorry to revive an old thread, but I remembered I left something out. He's had his current secured card for ~2 years now with a $200 limit, and only the one late payment in September due to his Mom. Do you think he'll qualify for a Capital One unsecured starter card with a $500 limit?

Active Cards:
Chase Freedom 10+10 Visa Signature ($9k Limit - 8/2012)
Chase Sapphire Preferred ($10k Limit - 2/2013)
Chase Ink Plus ($7k Limit - 2/2013)
Discover IT ($9.5k Limit - 10/2012)
AMEX Zync (No Pre-set Limit - 1/2010)
AMEX Blue Cash Everyday ($20k Limit - 1/2013 - Backdate to 1/2010)

Moneytalks
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Postby Moneytalks » Thu Dec 20, 2012 8:13 am

Unless you trust your friend with your life, then I wouldn't, just my opinion...
Wallet: Amex BCE & Chase Freedom. (Credit Card dieting since 2014)

kcarter609
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Posts: 423
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Location: VA

Postby kcarter609 » Thu Dec 20, 2012 10:21 am

Moneytalks wrote:Unless you trust your friend with your life, then I wouldn't, just my opinion...


That's already been decided. I'm not going to do it. The question now is what card should I have him apply for that he can get approved for with his history?

Active Cards:
Chase Freedom 10+10 Visa Signature ($9k Limit - 8/2012)
Chase Sapphire Preferred ($10k Limit - 2/2013)
Chase Ink Plus ($7k Limit - 2/2013)
Discover IT ($9.5k Limit - 10/2012)
AMEX Zync (No Pre-set Limit - 1/2010)
AMEX Blue Cash Everyday ($20k Limit - 1/2013 - Backdate to 1/2010)

Moneytalks
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Location: United States

Postby Moneytalks » Thu Dec 20, 2012 1:09 pm

Oh, tell him to shoot for Capital One, they seem to have the highest acceptance based on his situation.
Wallet: Amex BCE & Chase Freedom. (Credit Card dieting since 2014)



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