divinemadness Posted October 9, 2008 Report Share Posted October 9, 2008 Ok so my sister is 22. She had me recently look at her credit reports and to my shock shes has good credit-but barely any of it so to speak.. her ficos were all 3 around 650-670 she is an authorized user on 1 sams club cardshe has a paid auto loan in her nameshe has 7 student loans all aged well and paid on timeshe has NO credit cardsshe has NO loans she had 2 medical collections but they fell off when i disputedNO late paymentsshe does however have a judgement from bally totaly fitness from 4 years agowhat should she start with to build it up? Link to comment Share on other sites More sharing options...
divinemadness Posted October 9, 2008 Author Report Share Posted October 9, 2008 AND my brother just turned 18. What card(s) should he start with? Link to comment Share on other sites More sharing options...
stefdr Posted October 9, 2008 Report Share Posted October 9, 2008 Try for the B of A secured card, and the Hooters M/C is also a good one.DO NOT DO NOT DO NOT DO NOT even think about First Premier. They are among the worst. Link to comment Share on other sites More sharing options...
scorch Posted October 9, 2008 Report Share Posted October 9, 2008 I would like to get a Hooters card. Link to comment Share on other sites More sharing options...
jrbauto1 Posted October 9, 2008 Report Share Posted October 9, 2008 First Premier, Cortrust and yes HSBC are all junk in my opinion (I had all three). New credit, try BOA secured, maybe Target. Keep in mind we are in tough credit enviroment right now. It may not be the best time to apply for any credit at the moment. Link to comment Share on other sites More sharing options...
cap1kid Posted October 9, 2008 Report Share Posted October 9, 2008 If can save about $50. a week= i would get her yo join a crdit union- then when she has 500- get a secured card from th CU= no fees- creates a good habit in saving... then in 10 more weeks she can get another 500 increase- now she will have a 1000 credit card in less thsn 4 months- much better than get a junk card from hsbc or crap1 where you get a 300 credit lim- starter fee- yearly fees et. and then you have to beg for a credit line in crease avoid applying for a bunch at once=its very tempting0 the inquirys will hurt in short term not only scor but in undgerwritim= excuse my typing i ad 5 teeth extracted yesterday=im lil loopy Link to comment Share on other sites More sharing options...
CleverCynic Posted October 9, 2008 Report Share Posted October 9, 2008 Credit's high enough for a Cap1 rewards card. If for some reason she gets a $300-$500 card just have her send it back, but probably not. They've been good to me. Surprisingly better than BofA and Chase, my prime cards. Link to comment Share on other sites More sharing options...
divinemadness Posted October 9, 2008 Author Report Share Posted October 9, 2008 does she really need a secured card with a 650-670 scores? Link to comment Share on other sites More sharing options...
divinemadness Posted October 9, 2008 Author Report Share Posted October 9, 2008 First Premier, Cortrust and yes HSBC are all junk in my opinion (I had all three). New credit, try BOA secured, maybe Target. Keep in mind we are in tough credit enviroment right now. It may not be the best time to apply for any credit at the moment. haha i have that darn cortrust and hsbc. i wish i didnt. i have a few junk cards that i paid all there fees. blah. cant wait for them to age longer then closeeee! byebyebye Link to comment Share on other sites More sharing options...
divinemadness Posted October 9, 2008 Author Report Share Posted October 9, 2008 If can save about $50. a week= i would get her yo join a crdit union- then when she has 500- get a secured card from th CU= no fees- creates a good habit in saving... then in 10 more weeks she can get another 500 increase- now she will have a 1000 credit card in less thsn 4 months- much better than get a junk card from hsbc or crap1 where you get a 300 credit lim- starter fee- yearly fees et. and then you have to beg for a credit line in crease avoid applying for a bunch at once=its very tempting0 the inquirys will hurt in short term not only scor but in undgerwritim= excuse my typing i ad 5 teeth extracted yesterday=im lil loopyhahaha oh man its ok! Link to comment Share on other sites More sharing options...
divinemadness Posted October 9, 2008 Author Report Share Posted October 9, 2008 i ran the cap one preapproval and it offered her one of them 500-5000 credit limit. so we applied for it for her. said 7-10 days while reviewing her application or something..so at least its not a blant out NO like they did to me in the past. but i redid it for me too and got one haha. now for my brother whos 18 - hes pretty smart and has heard me talk about all the credit stuff that i learned on here with my mom and sister and stuff and he asked me how to build his cause he doesnt have one thing. and i was thinking wow- the way u could build that, and teach him good habits, he would have phenomenal credit in his mid twenties.. i wish i could go back to 18 and someone taught me!!!im guessing i should start with some authorized users with him too huh? Link to comment Share on other sites More sharing options...
isislc Posted October 9, 2008 Report Share Posted October 9, 2008 Ok, for your sister, I would recommend a BoA, Cap1, Cabela's and a CC with a credit union. With her scores, there is no need for a secured card at all. The 4 cards I mentioned will give her pretty good APRs as well as a possibility of no yearly charge.For your brother, I would recommend a BoA secured card and possibly 1 student card if he's still in school. If he isn't in school, then replace the student card with a Cap1 card. As long as he is limited to 1 or 2 cards, that should keep him in a good position to learn to manage his finances and once he is over 21 then try for other cards since his credit should be lookin really good by then. Link to comment Share on other sites More sharing options...
scorch Posted October 9, 2008 Report Share Posted October 9, 2008 Cap one? I thought some people didn't like it because it doesn't report Credit limits. Link to comment Share on other sites More sharing options...
CleverCynic Posted October 9, 2008 Report Share Posted October 9, 2008 They fixed that last year. Link to comment Share on other sites More sharing options...
TTigggers Posted October 9, 2008 Report Share Posted October 9, 2008 Cap 1 has always been good to me.Just don't screw them they keep great records!! Link to comment Share on other sites More sharing options...
divinemadness Posted October 22, 2008 Author Report Share Posted October 22, 2008 she was shot down for cap one and some others.they gave no reason in the letterS??? WEIRD? Link to comment Share on other sites More sharing options...
TTigggers Posted October 24, 2008 Report Share Posted October 24, 2008 Have her call and ask why she was turned down.That will at least give you a starting point. Link to comment Share on other sites More sharing options...
Amerikaner83 Posted October 24, 2008 Report Share Posted October 24, 2008 does she really need a secured card with a 650-670 scores?Yes it's ALWAYS a good idea.Secured cards mean YOU control your CR not them. You want a 5K line of credit? Then save 5K up and it's done. PLUS - then it does unsecure, you get your money! Extra bonus - usually comes with a CLI on a newly UNsecured account. It's a win-win no matter what. Link to comment Share on other sites More sharing options...
CleverCynic Posted October 24, 2008 Report Share Posted October 24, 2008 Then save 5K up and it's done. Link to comment Share on other sites More sharing options...
lp1967 Posted October 24, 2008 Report Share Posted October 24, 2008 the easiest visa i have ever seen to get is macys Link to comment Share on other sites More sharing options...
divinemadness Posted October 24, 2008 Author Report Share Posted October 24, 2008 Have her call and ask why she was turned down.That will at least give you a starting point.thanks will do. Link to comment Share on other sites More sharing options...
Amerikaner83 Posted October 26, 2008 Report Share Posted October 26, 2008 I didn't mean it like that, silly!I meant 500 here and there, pretty soon it all adds up. Dingbat Link to comment Share on other sites More sharing options...
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