Advice on building my history up

For just about anything you want to get off your chest about credit cards.
1 post
Posts: 2
Joined: Thu Apr 25, 2013 8:04 pm
Location: New York

Advice on building my history up

Postby imaltesers » Thu Apr 25, 2013 8:25 pm

Hi everyone,

I'm 22 and have recently started working in the US. I want to start building my credit score, and after a lot of research I decided to apply for the Capital One secured card (which has been approved, and I'm waiting for the card now). I now have two questions:

  1. I want to get the Capital One Cash Rewards for Newcomers, since it has no annual fee and so I can probably keep it indefinitely to establish a long credit history. Actually I tried to apply for this first, but was denied (maybe because I tried to get it too soon, i.e. as soon as I started working). Then I decided to play it safe and go for the secured card, but I'm wondering if I can/should still get this card? Capital One says I need to wait at least 30 days between applications, but what are my chances of getting approved?
  2. Also related to the Cash Rewards for Newcomers card, is this a secured card or an unsecured card for bad/no credit? I'm confused because my impression is that you need at least average credit to get an unsecured card.
  3. Is it a good idea to get multiple secured cards from different banks? Will it help build my credit score faster/easier?
  4. Is it true that applying for many cards at once will only report one hard inquiry on my credit report?

Any answers are greatly appreciated!

Return to “General Credit Card Talk”

Who is online

Users browsing this forum: No registered users and 2 guests