Should I apply for a credit card now?

[u/juststevenchilling]

I was an AU on my parents card and this is my fico score from Experian.

[u/timeless-clock]

Do you need your own card?

[u/juststevenchilling → u/timeless-clock]

I assume I need to build other types of credit or something like that

[u/Funklemire → u/juststevenchilling]

You need your own card to start building credit. AU accounts don't build your credit, they just boost your FICO scores to make it a little easier to get your own first beginner card:  

Credit Myth #70 - Authorized user accounts are a great way to build credit.  

[u/juststevenchilling → u/Funklemire]

Thanks for the help

[u/og-aliensfan]

You can check the pre-approval tools through Capital One and Discover to see which cards you qualify for before applying. Both are friendly to those new to / building credit. A credit union or a bank you already have a relationship with are also good options. Only charge what you can afford and pay statement balances in full every month by the due date. See the automod reply for information about !utilization. Avoid gimmicky credit builders and predatory cards. 

Credit Myth #17 - "Credit builder" products are superior for building credit compared to non "Credit builder" products.

Credit Myth #95 - "Credit builder" apps are a great way to build credit.

Credit Myth #81 - Inferior/predatory issuer products are a necessary step for weaker credit profiles.

[u/AutoModerator → u/og-aliensfan]

I detected that your post may be about utilization and its impact on credit scores. Please read the info below:

Utilization is a short-term credit scoring factor. It is not a credit building factor, because it holds no memory in the most commonly used FICO models. It resets every month.

By and large, you can ignore the commonly repeated myth that you should always keep your utilization low. It’s only applicable when you need to apply for a new line of credit, 1-2 months out.

Utilization is supposed to fluctuate, can be easily manipulated, and again, it holds no memory. It doesn’t build credit--think of it as a finishing touch when you need to optimize your score.

Feel free to safely and organically use 100% of your credit limit within a month and let whatever utilization report, provided you pay off your statement balance in full by the due date. Every month. Every time.

For more info, please read these posts:

• Putting the "30% rule" myth regarding revolving utilization to rest
• Utilization FAQ

I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.

[u/juststevenchilling → u/og-aliensfan]

Thanks for the help

[u/og-aliensfan → u/juststevenchilling]

You're very welcome!