Good credit card for a young-ish couple looking to rebuild credit?
April 29, 2014 12:41 AM Subscribe
My girlfriend and I are older, full-time college students with part-time jobs. She has a couple of blemishes on her credit history, whereas mine is pretty limited. I'm looking for a good card to help us establish more credit and help repair hers, that can also offer cool rewards -- either in the form of cash back or rewards points. Details inside.
posted by HiphopAnonymous to Work & Money (7 answers total) 3 users marked this as a favorite
Her: Before she had joined the military, she made the mistake of rooming up with some sketchy folks, and, long story short, they were evicted from their apartment and she ended up in a pretty messy legal battle that (if my memory serves me correctly) resulted in her being sued by her former roommates for some unknown reason. She also defaulted on student loan payments while stationed overseas as her finances weren't handled by anyone back home. Now that she is out and back in school with steady income, she is now a fiscally responsible adult. However, we were approved for our current apartment only because my name is also on the lease.
Me: Having recently left the nest, the longest standing credit history I have is through my Amazon.com Chase Visa, which I was approved for pre-financial crisis at age 18. By my own admission, my spending habits weren't the greatest and I do have some blemishes myself, although I've been paying off full statement balances for the past several months now and my FICO score skyrocketed (>650). Recently, we've decided to purchase a new mattress through interest-free financing, so I imagine that will also benefit my credit (it's under my bank account) as we will have it paid off before the interest kicks in.
I'm still using my Amazon Visa as my staple card, but I'd like for her and I to have one for small purchases that can help both of our credit; preferably one with some kind of rewards. We have two friends who are also a couple that share the green AMEX; if I want a card (or maybe two--both linked to the same account), would it be best for me to sign up for it and have her as an authorized user? How does that even work? If it helps, I work at a commercial bank...but the reviews on our credit cards tend to be pretty mixed. I haven't had the opportunity of seeing if there are any sort of employee benefits or bonuses connected to any of them.
Also, I realize that while my heart really wants travel rewards points, more basic incentives like cash back is probably a better starting point for us at the moment since we hardly travel...although we have a strong desire to in the indefinite future.