Getting my first card

For just about anything you want to get off your chest about credit cards.
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whitmanjunior
 
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Joined: Mon Oct 21, 2013 10:33 am
Location: Atlanta, Ga

Getting my first card

Postby whitmanjunior » Mon Oct 21, 2013 10:42 am

Hello all..

I'm new to the forum - first post. I'm looking to apply for my first card. I have been in the workforce for 3.5 years, have an ample amount of savings and make mid-50k salary. I've got a student loan in the tune of ~10k and a Camry loan for ~15k. I have never had a credit card so my credit history (other than loans) is low but every payment on any account I've ever had is perfect, no late payments ever. My score from all 3 bureaus is around 695-700 since I don't have much history.

Could you provide some advice on what cards to go for? I really don't like hard inquiries. I'd like to get an AmEx eventually but I'm realistic that I may be declined. If so, I'll just build my credit up with another card and get there eventually. I like the Delta Skymiles card and also have a Costco membership that would be nice to tie the AmEx benefits in with. I've also been looking into Capital One and Chase. Any suggestions would be helpful!

Appreciate it.


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jumbo
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Location: IA

Postby jumbo » Mon Oct 21, 2013 2:13 pm

Maybe you can apply for a credit card from the bank that you bank with.
BofA Cash Rewards | CapitalOne QuickSilver | Discover More
Gold Delta AMEX | Citi DoubleCash | Citi Simplicity
Chase Freedom | Kohls Charge Card

Obi-dan
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Joined: Fri Aug 02, 2013 2:35 pm
Location: Houston, TX

Postby Obi-dan » Mon Oct 21, 2013 3:03 pm

I would first ask myself what do I intend to do with the credit card and then find one that meets my needs.
Cards:
Chase Sapphire Preferred
Marriott Rewards
Citi Hilton
Barclay Arrival
AMEX BCE (member since 95)
Chase Freedom
Discover It
Wells Fargo Platinum
Barclaycard (Apple)
Local Credit Union Visa (buy local!)


FICO Scores:
TU: 824 (Aug 2014)
Experian: 789 (Aug 2014)
Equifax: 807 (Aug 2014)

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otter
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Postby otter » Mon Oct 21, 2013 5:19 pm

Welcome to the forum, Whitmanjr!

As Obi-Dan said, you should go with a card which meets your needs. With Amex and Chase, they usually like to see 2 years of revolving account history, but they have been exceptions... There are a few good CapOne cards which are easy to get with limited credit. The Capital One Quicksilver One should be easy for you to get and gives 1.5% rewards on everything. Bank of America has some good rewards cards, but they can be picky about who they approve- you might want to do the BoA secured card with cash rewards which will unsecure after a year of good use.

After you get your first couple of cards, it should be easier to get the better cards pretty quickly with your history of installment loans.

Good luck!
In my Wallet:
  • Amex PRG NPSL[3-14, bd 91]
  • Sallie Mae MC $8000[1-14]
  • Chase Freedom $4700[1-14]
  • Discover It $2750[8-13]
  • BoA UCF Alumni Cash Rewards $5000 [3-15]
Sometimes in my Wallet:
  • GM BuyPower WEMC $5000[9-14]
  • Wells Fargo Propel 365 Amex $7000[4-14]
  • Barclaycard Arrival WEMC $7000[3-14]
  • BoA Better Balance $3000[2-15]
In my sockdrawer: Amex BCE $1000[10-13, bd 91], OCCU Duck $10000 [11-13], The Sportsman's Guide Visa $8000[8-14], Chase Slate $4000 [9-14]Delta Gold Amex $2000 [2-15 bd 91], Diners Club MC $20000 [10-14] Commerce Bank Visa $2000 [3-15] Citi Double Cash $1000 [3-15]
Total CL: $90450

whitmanjunior
 
Posts: 2
Joined: Mon Oct 21, 2013 10:33 am
Location: Atlanta, Ga

Postby whitmanjunior » Thu Oct 24, 2013 2:18 pm

The credit card will be used to build my credit, so the "rewards" are not that important. Just needed something that is reported monthly to CRAs and will be paid off monthly. I applied for a Wells Fargo Platinum card and was immediately given a $10k credit line. I suppose they saw my savings. Both my checking & savings are with WF. This should be fine for a while and maybe after getting my score up enough in a year or two I'll go for one with a better rewards program.

Thanks for the help.

SClay
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Location: South USA

Postby SClay » Thu Oct 24, 2013 4:26 pm

whitmanjunior wrote:The credit card will be used to build my credit, so the "rewards" are not that important. Just needed something that is reported monthly to CRAs and will be paid off monthly. I applied for a Wells Fargo Platinum card and was immediately given a $10k credit line. I suppose they saw my savings. Both my checking & savings are with WF. This should be fine for a while and maybe after getting my score up enough in a year or two I'll go for one with a better rewards program.

Thanks for the help.


That's great for a first credit card! In a year or so you'll be able to get a Visa Signature card if you make good use of the card and since you already have a 10K line. Visa Signatures typically have excellent rewards and are great cards. Congrats!
Capital One Secured AU | $1851 | 10/2013
Capital One Journey | $1000 | 03/03/2016
American Express Delta Gold | Denied | 03/13/2016
Citi Bank Double Cash | $1000 | 03/13/2016
Chase Amazon Visa | Pending | 03/13/2016

Midori
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Location: TX

Postby Midori » Thu Oct 24, 2013 5:39 pm

$10k off the bat, what a great start! Also very nice that you got a card with no AF. Congratulations!



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