DD's first credit card!

[leebee]

DD21 was just approved for a credit card- and it's a 50,000 Southwest rapid rewards card! She put me on as the second user so we can rack up that 2000 points and get the rewards. Don't worry, she's used a Disney card on her father's account for years and knows about spending/using credit wisely, not carrying a balance, etc. I am just PSYCHED that we will have more free flying in the near future!!

 

[DCbride]

That is great. My DD24 was not approved on SW for a CC despite zero loans, including college and working full time as a RN

 

[Disneybuckeye]

That is great. My DD24 was not approved on SW for a CC despite zero loans, including college and working full time as a RN

That is interesting. All three of my children were able to obtain credit cards when they were in college. Not granted they had small limits, but that was all they needed at the time. They all were given a card from one of our accounts with their name on it when they turned 16. I wonder if that is why they were able to get them?

I know many people are anti credit card, but I believe it is very important to teach kids how to use them and use them wisely. My kids love the "free money" they get from them as they never carry a balance or pay interest.

 

[elgerber]

My dd is 19 and just got a Target and Capital One student card. Not as exciting as a SW Visa, but still a step in the right direction to build credit. My son was turned down by Chase a couple of years ago for a SW (he is now 22) but I know he could get one now, as he has a 795 score.

 

[leebee]

That is great. My DD24 was not approved on SW for a CC despite zero loans, including college and working full time as a RN

Interesting. Does your DD have a SW Rapid Rewards account? DD's had one for several years, but it has always had a zero balance as we fly on RR points (so no points accrue for flights). Last spring (March, maybe?) Southwest sent her an email inviting her to apply for the card, but she was turned down. She got another invitation yesterday- has her name and RR account number on it- so she applied and was approved! Of course now she has a job (hourly, adds up to $24K a year) and is living with us so minimal rent a month ($200). She has school loans but they aren't into repayment yet. I wonder if maybe because Southwest sent the invitation, it was fast-tracked for approval (or something like that)?

DD has also been the second user on DH's Chase Disney Visa card for 5 years, but according to Chase this is a courtesy card, and won't go towards building DD's credit. It's all DH's.

 

[supersnoop]

That is great. My DD24 was not approved on SW for a CC despite zero loans, including college and working full time as a RN

No loans = no credit profile

 

[scrapquitler]

That is interesting. All three of my children were able to obtain credit cards when they were in college. Not granted they had small limits, but that was all they needed at the time. They all were given a card from one of our accounts with their name on it when they turned 16. I wonder if that is why they were able to get them?

I know many people are anti credit card, but I believe it is very important to teach kids how to use them and use them wisely. My kids love the "free money" they get from them as they never carry a balance or pay interest.

We stressed to our DD that it was important to get the first credit card while in college, because getting approved then under a student card will be easier than after college. She's going to be a sophomore later this month, and was just approved for her first CC (it's from Discover, and has a $500 limit). I figure its a good way for her to learn to use credit wisely and responsibly.

 

[ICF]

I know many people are anti credit card, but I believe it is very important to teach kids how to use them and use them wisely. My kids love the "free money" they get from them as they never carry a balance or pay interest.

People who are anti credit cards, just don't know how to use them effectively.

 

[morgan98]

People who are anti credit cards, just don't know how to use them effectively.

This...and just because you use a credit card to pay for something does not mean you in are debt up to your eyeballs and can't afford it.

 

[Woth2982]

Interesting. Does your DD have a SW Rapid Rewards account? DD's had one for several years, but it has always had a zero balance as we fly on RR points (so no points accrue for flights). Last spring (March, maybe?) Southwest sent her an email inviting her to apply for the card, but she was turned down. She got another invitation yesterday- has her name and RR account number on it- so she applied and was approved! Of course now she has a job (hourly, adds up to $24K a year) and is living with us so minimal rent a month ($200). She has school loans but they aren't into repayment yet. I wonder if maybe because Southwest sent the invitation, it was fast-tracked for approval (or something like that)?

DD has also been the second user on DH's Chase Disney Visa card for 5 years, but according to Chase this is a courtesy card, and won't go towards building DD's credit. It's all DH's.

I would check her credit report. If it appears it is counting towards her credit. I was on my sister's Disney Chase Visa for a couple years, and even though I got off of it in 2012, it STILL appears on my credit report as an authorized user and my credit is linked to it. However it isn't counted in my debt to income ratio. Just a pain to have to explain. I just refinanced my house and they were like your Chase card is almost maxed out, had to prove it wasn't mine.

 

[sunshinehighway]

DD21 was just approved for a credit card- and it's a 50,000 Southwest rapid rewards card! She put me on as the second user so we can rack up that 2000 points and get the rewards. Don't worry, she's used a Disney card on her father's account for years and knows about spending/using credit wisely, not carrying a balance, etc. I am just PSYCHED that we will have more free flying in the near future!!

Nice.
Since you are helping rack up the points you should get dibs on extra points.

 

[MinnieForMe]

Discover is a great first credit card. It was mine in college. Now, 25 years later, it still works for me as my longest credit card and boosts my credit score. I, too, believe teaching credit card responsibility should start early. My 17 year old is currently an authorized user on my card just to learn how to use it and pay it in full every month. As soon as he turns 18, he'll be getting a Discover even if I have to be joint on it to start building his own credit.

It wouldn't surprise me if the reason the student above received a SW card was because she already established her credit with a student loan.

 

[leebee]

Nice.
Since you are helping rack up the points you should get dibs on extra points.

She and her boyfriend have had 3 vacations on our points; I'll be happy to let her take them both on her points and leave our accounts for DH and me!! My guess is that if we need points, we'll be able to use hers.

NOW I need to figure out how to get the companion pass. Seems with all the SW accounts available, I should be able to figure out how to link up something to get the points necessary!

 

[disfanforlife]

That is great! I will tell my daughter about it. She got the Discover Student card and has been very good about using it wisely. My younger daughter is an authorized using on my citi visa. They told me that even though it is my account it would help to build her credit too.

 

[Shelly F - Ohio]

If you get turned down for the online application for a SWA card call Chase. I have read on here that folks called Chase to find out why they did not get approved since they have stellar credit, and they got approved over the phone.

 

[FairestOfThemAll37]

I love the SW card. If your daughter flies a lot it's a great card to have.

When I was a college student, I don't think they'd put quite the restrictions that they have now. I got 3 or 4 different cards and probably had 30k in spending limits lol.

Oh the irony as chase won't give me anymore cards now and I super want the chase freedom card. Thank goodness for Citi and Amex!

She and her boyfriend have had 3 vacations on our points; I'll be happy to let her take them both on her points and leave our accounts for DH and me!! My guess is that if we need points, we'll be able to use hers.

NOW I need to figure out how to get the companion pass. Seems with all the SW accounts available, I should be able to figure out how to link up something to get the points necessary!

There's not really a way to combine SW points without a bunch of steps and losing a whole lot of points. And this can only be done between spouses.

 

[tvguy]

That is interesting. All three of my children were able to obtain credit cards when they were in college. Not granted they had small limits, but that was all they needed at the time. They all were given a card from one of our accounts with their name on it when they turned 16. I wonder if that is why they were able to get them?

I know many people are anti credit card, but I believe it is very important to teach kids how to use them and use them wisely. My kids love the "free money" they get from them as they never carry a balance or pay interest.

My kids set up a college student plan with Wells Fargo when they went off to college. Checking account, savings account and Credit Card are all a part of that. No co-signer, and only a $1,500 credit limit, but it has helped them establish a credit history.

 

[MrPTato]

If you get turned down for the online application for a SWA card call Chase. I have read on here that folks called Chase to find out why they did not get approved since they have stellar credit, and they got approved over the phone.

You can call Chase and have an underwriter take a look at it. They may ask some questions, so just be honest with them. You don't even need to wait for the denial letter to come.

 

[sunshinehighway]

I love the SW card. If your daughter flies a lot it's a great card to have.

When I was a college student, I don't think they'd put quite the restrictions that they have now. I got 3 or 4 different cards and probably had 30k in spending limits lol.

Oh the irony as chase won't give me anymore cards now and I super want the chase freedom card. Thank goodness for Citi and Amex!



There's not really a way to combine SW points without a bunch of steps and losing a whole lot of points. And this can only be done between spouses.

You could apply and then call or secure message Chase about closing one of your other cards and transferring the credit limit to the Freedom. I did that to get the Sapphire Preferred. I sent a secure message explaining why I wanted it instead of two airline cards I had (Southwest and British Airways). They never even contacted me with questions. I found out they had done it when my Southwest card was declined at a store. I went online and saw it had been closed, BA card too and there was a Sapphire Preferred card on my account. It showed up in the mail a few days later.

 

[FairestOfThemAll37]

You could apply and then call or secure message Chase about closing one of your other cards and transferring the credit limit to the Freedom. I did that to get the Sapphire Preferred. I sent a secure message explaining why I wanted it instead of two airline cards I had (Southwest and British Airways). They never even contacted me with questions. I found out they had done it when my Southwest card was declined at a store. I went online and saw it had been closed, BA card too and there was a Sapphire Preferred card on my account. It showed up in the mail a few days later.

I wish that were the case it's not about them giving me a larger line of credit, but they've recently started declining for "too many cards opened in the past two years." Apparently Chase considers 5 cards (from any bank, not just chase) too many.

I've opened 10+ in the past two years so even offering to close one card or move credit from one card was a no go.

I love my Saphire Preferred and will continue to use it until Chase changes their mind lol.