Credit cards for "thin credit file"

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Joined: Mon May 06, 2013 3:40 am
Location: Fort Worth, TX

Credit cards for "thin credit file"

Postby LizziBea » Mon May 06, 2013 4:16 am

Hey y'all

I'm new to the world of credit and I need some advice about which card I should/ would be able to get. I have never had a credit card and have no credit history, but I know I need to start building my credit. Here is a little more info about me:

-I am 21 years old, about to graduate from college
-I have had a summer job for the past 6 years, last year I made $8500
-Starting in September I will teach high school, the salary is $46,000; I will have no income until September
-I have a total of 4 bank accounts at 2 different banks: 3 at Wells Fargo (1 checking, 2 savings) totaling ~$30,000, 1 at Charles Schwabb with ~$250,000
-I have never had a loan or debt of any kind
-5 months ago, I applied for a Nordstrom credit card and was denied. This is the only card I have ever applied for.

Basically my question is which card is right for me? I do not want another denial on my record! Should I try to get a Wells Fargo card? Should I wait another couple months before applying (so it has been more than 6 months since the denial)?

it possible to get an unsecured card? Credit Karma says I have a "thin file." Are there any other ways to build on this? I would rather not take out a loan I don't need just for the sake of having a loan.

Thanks for the help!

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Postby MemberSince99 » Sat May 18, 2013 8:08 am

Well based on the fact you got declined for Nordstrom, I'd say you are probably going to have to go the secured card route. You have no history with credit at all so I would just open up one of the better secured cards and use that for a year. After a year with that, you should either be able to unsecure the card, or get other unsecured cards ideally 2 or 3 in the mix would be good at that point.

That would be my suggestion unless you know of a local credit union that might give you a card. Otherwise open a secured one use it a year build that history and you should be good for better.

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