Non Secured Credit Cards For No Credit History
Which credit card (if any) should I apply for with an Experian Score of 720, but short credit history?
I recently cleaned up my credit and am trying to rebuild it. I have nothing negative on my report (all has been dropped), but have a short length of positive credit history.
Here’s what I have:
Experian Score: 720
Secured CC for 8 Months at $300 (My bank won’t issue non-secured card until 1-year point
Paid off a 3-year car loan
No late payments on my record
Full-Time good job.
Want to build up credit for future.
Should I apply for a credit card now or wait until my bank offers me a non-secured in 4 months? If I should apply, please recommend a card based on my history. Thanks in advance!!
I have a Debit Card with Mastercard/Visa on it.
You need a debit card with a MC or Visa logo on your checking account. Should have done that before getting any “secured” (i.e. costly) credit card. If your bank requires that you pass the one-year point before getting a regular credit card, then wait – it’s only 4 more months. Going elsewhere is a dicey proposition at this point due to the short history. Inquiries drop your score, so you don’t want to apply too soon, get denied, and drop that score. Wait a little longer, and see your bank first.
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