CC Recs

[lilacs80]

We got discharged from Chapter 7 last October. I just applied for a Cap One credit card through one of their offers they sent me - approved. My husband bk-ed on all the major credit cards - Citi, Chase, Discover, HSBC, Cap One. I've never had a Cap One so maybe that's why I've been getting offers and been approved?

I've read online that a lot of people get denied for CC because of "previous relationship". Like me, he hasn't applied for any credit cards since discharge and need to start rebuilding credit. If he applies for a CC with one of the banks he bk-ed on, which ones will deny him based on "previous relationship"? Which CC's do you recommend that he try for?

Thanks!

[Logan]

I would wait a few months to apply for another card. Use the CapOne and pay in full and let the inquiry slide at least 90 days. I think I waited 6 months for my 2nd card.

Logan

[lilacs80]

Thanks Logan. I'll keep that in mind when I'm ready to apply for a 2nd card. But this card I'm asking about is for my husband. The cap one I just got approved for is under my name and therefore it will only reflect on my credit report. My husband hasn't applied for a card since discharge either and would like to rebuilding now.

[iswmle]

But this card I'm asking about is for my husband. The cap one I just got approved for is under my name and therefore it will only reflect on my credit report.

Add your husband as a secondary to the acct.

[Logan]

Add your husband as a secondary to the acct.

^^^^^^^^^^^^^^^^^^^^^^^^^^^^
what iswmle said. In fact, get a credit card for your husband and get your name on that card and you'll both have 2 cards reporting on your credit report.

[lilacs80]

I've read that adding authorized signers doesn't actually help that person build credit.....it only authorizes that person to use your credit card legally. People used to add their kids or spouses as authorized signers to help them built credit. I know this because that's what my dad did for me when I went off to college. The credit card companies or credit bureaus changed the rules on that one a couple of years ago....is this true?

[iswmle]

I said secondary user not authorized user. Big difference.

Secondary user he is an owner of the account and is considered responsible for it, thus that is how it will reflect on the credit bureau.

Authorized user he is not an owner, is just authorized by the owner to use it. It will still show up on the credit file, and it can still help or hinder, but secondary is what you want.

[lilacs80]

I said secondary user not authorized user. Big difference.

Secondary user he is an owner of the account and is considered responsible for it, thus that is how it will reflect on the credit bureau.

Authorized user he is not an owner, is just authorized by the owner to use it. It will still show up on the credit file, and it can still help or hinder, but secondary is what you want.

I called Capital One yesterday. Actually they do not allow me to add a secondary user to the account, only authorized user.

[Amy26]

Authorized Users DO help your credit report. It puts another account with positive history on there and helps utilization. I had to do this with my husband who had brand new credit after getting his green card. At first, nobody would give him anything but after adding him as an AU to a few of my cards that gave some history and bumped his score a bit, he was able to get his own cards.

I recommend credit unions always. You can usually do joint credit cards with CUs as well.

[nickofthedes]

bkd cap 1 discharged 2/11 and just got approved last month for a $750 line so it can be done.