What can I expect credit card wise...

I

icedout297

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Hey everyone,

I have been looking for a nice cash back rewards card for the past week or so.


I'm currently an unemployed student attending a university. I'm 20 years old and have 1 open line of credit with a $9,500 limit. I have always paid my balances in full each month and have never had a late payment. I got a student credit card when I was 18 to build up credit, but closed that down a year ago.

My FICO score is 766.

What can I expect in terms of a nice cash back credit card? APR is irrelevant since I never carry a balance. I'm just worried being unemployed will seriously hurt my chances of getting a nice rewards card.

I found one I liked from Chase, 3% cash back in your top 3 spending categories, 1% on everything else, $50 cash back on first purchase, no annual fee, 14.99% APR but once again that's irrelevant.

If it's a false hope to get a card such as that one above, I'd rather not lower my FICO score by a few points.

Any input would be MUCH appreciated! Thank you.
 
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That type of card is might be out of reach for an unemployed student. I'm also a college student, but have a part time job, full time now its summer though. I haven't tried applying for a card as good as that one yet, but I would assume it would be difficult for me to get one.

Right now I just have a student visa card. To be honest I don't really like to use it, I prefer using my atm card if I can. But you don't build any credit that way. I do have a another card with rewards, but its another student card. And I never use it since the rewards are only for school related purchases, not even gas counts. But you seem to have more credit history than I do so you may be able to get one.

Sorry that I cant be very helpful.
 
i always look for what you have mostly, or use mostly, go to best buy alot, then get the best buy mastercard, they have rewards type thing, as does circuit city, directv, shoot even sony mastercard has a rewards type program, just look out for apr's and such, a lot of times, they are higher than traditional cards :)
 
I have that Chase card op is talking about. I don't know if you need a job to get it since Chase kept sending the advertisement to me by mail before I started my job. While talking to rep about my current account with chase, he brought up that I was eligible to get the card, so why not. Anyway, you need to spend alot to rack up those those points.

Getting the Circuit City card is great since if you purchase stuff over $99, you don't have to pay it off till 3 months from now or you can opt out of that and just collect points. Every dollar spent at CC gets you 5 points while everywhere else gets you 1 point.
 
With the credit markets in the horrible shape they are in and lenders tightening standards significantly I think the only way you get a card being unemployed is if you have a significant amount of cash in checking/savings.
 
Do your parents have good credit? Do they pay their bills on-time, everytime?

Have them add you as an authorized user on one of their accounts. This will help to boost your credit rating (although 766 isn't bad in your situation).

If your parents can handle it they could always apply for a new card, and then add you as an authorized user and have you take care of the bills (just pay it online). This will get you a much nicer card than you can get for yourself, but you're still building credit.

Personally I love my Discover card. It's not the best Cashback program, but it's not bad at all. I buy everything with it and pay it off in full every month. They have been really good to me as well and have handled the two credit card disputes that i've had (ebay purchases gone wrong) without any hassles.
 
As for your other worries, I doubt they matter with a 766 FICO score. Just apply to any card you want; you will most likely get it. And the harm in an unlikely rejection is negligible.
 
Well good news... I just said screw it and went ahead and applied for that nice Chase Cash Back card I listed in my OP. I was instantly approved. Yay! I guess the FICO score is much more heavily weighted than your employment status, etc.
 
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