Originally Posted by
Dr Jabadski
Seems that co-signing credit card applications may be going the way of the dodo*. Trying to help my 25 y/o college graduate nephew, first (real) job x 1 year, with his first credit card. He applied for a Chase Sapphire Preferred a couple of weeks ago, automatic declined. His 3 year older sister got a CSP as her first card, then a Bilt MC a year or so ago (a few months
prior to my suggesting it to her). Their parents are far from frequent flyer/credit card aficionados.
I suggested Mom or Dad co-sign, we both researched it and it seems now that most issuers do not allow co-signing. I suggested going to a Chase branch to ask about Mom or Dad co-signing his 2 week old application or a new co-signed application in the branch. In researching where to post this, I found this brief November 2023 thread:
Can I get a cosigner for a Chase card?
He researched Cap 1 and thinks they may be more amenable to first-time card applicants (with no credit history).
I’d appreciate any comments or suggestions. Thank you.
1. If either of his parents has good credit, they could just add him as an authorized user on one of their older credit cards, and give the physical card to him, or not, at their discretion. He would then see a rapid improvement in his credit score.
2. If he wants a Chase card, he can improve his chances of getting
some Chase card -- not necessarily the CSP -- by opening a Chase checking account.
3. The college-graduate son of some friends got turned down for the Chase Freedom Unlimited card after about one year on the job. He then opened a Chase checking account -- with a cash bonus -- and was thinking of re-applying a few months later. Instead, he applied for, and got approved for, the Amex Blue Cash Everyday card. Shortly after he got that card, Chase invited him to apply for the Freedom Unlimited card! He did, and was approved. Not sure whether it was the Amex approval, the Chase checking account, or something else that triggered the Chase invitation.
I would suggest that your nephew check his credit score now, and again three months after being added as an AU to someone's credit card, before applying again for any card.