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Regular Contributor
CollegeStudent530
Posts: 151
Registered: ‎04-07-2013
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Re: Another 18 Year Old Looking To Build Credit

Welcome to the forum!

Grab a secured credit card from your local bank or credit union. I got rejected for Bank of America's secured card and student visa card a year ago, so I applied for a secured credit card at Golden 1. My income wasn't even over $8,000 last year, but I manged to get a Student Visa a few months after with good usage through the same credit union. =)

Do not give up and RESIST the urge to apply for a lot of credit cards. Try getting a secured card (preferrably one with no annual fee) and garden with it until you graduate to a unsecured card. Good luck. If you have any questions, feel free to PM me. 

American Express Blue Cash Everyday® - $33,600 | United MileagePlus Explorer Card - $16,000 | Discover It™ - $8,000 | Chase Sapphire® - $6,000 | Chase Freedom® - $6,000 | BankAmericard® Better Balance Rewards™ - $2,500 | Golden 1 Credit Union Student® - $1,000

Recent College Graduate l Age: 21 l Gardening as of 08/15/2014


Valued Member
johnicek
Posts: 80
Registered: ‎05-12-2013
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Re: Another 18 Year Old Looking To Build Credit

Than you to everyone who has replied, I am very grateful for all the information.
I noticed a few people said to try my bank. About 6 months ago or so, the teller who I always go to, asked if I was 18 yet, because she wanted to make sure I explored my credit options. Of course, I wasn't, but I think I will need to make a trip to the bank this week.
I bank with Citizens Bancorp, however, they were recently bought out by First Merit bank.

I also noticed, there's a few replies about credit unions. The college I am going to is a technical college, so they don't have a school credit union. However, there are a bunch of them up here. Could I go to them for a better chance,mor would my own bank (Been using them for about 16 years, back when it was F&M, then Citizens, Now First Merit)? I looked up on the First Merit site, on the page the Citizens site redirected me to, about credit cards. I didn't see anything about secured cards. Would a small loan, possibly secured, be an option? I suppose I should go to the bank and find out for sure, but if anyone has any recommendations, please let me know!
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webhopper
Posts: 7,225
Registered: ‎09-16-2011
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Re: Another 18 Year Old Looking To Build Credit


johnicek wrote:
Than you to everyone who has replied, I am very grateful for all the information.
I noticed a few people said to try my bank. About 6 months ago or so, the teller who I always go to, asked if I was 18 yet, because she wanted to make sure I explored my credit options. Of course, I wasn't, but I think I will need to make a trip to the bank this week.
I bank with Citizens Bancorp, however, they were recently bought out by First Merit bank.

I also noticed, there's a few replies about credit unions. The college I am going to is a technical college, so they don't have a school credit union. However, there are a bunch of them up here. Could I go to them for a better chance,mor would my own bank (Been using them for about 16 years, back when it was F&M, then Citizens, Now First Merit)? I looked up on the First Merit site, on the page the Citizens site redirected me to, about credit cards. I didn't see anything about secured cards. Would a small loan, possibly secured, be an option? I suppose I should go to the bank and find out for sure, but if anyone has any recommendations, please let me know!

If you apply for a First Merit card, make sure that it is backed by your bank instead of by Elan Financial. 

Elan has stricter approval criteria, but they do back credit products offered by regional banks.  My husband uses IBC Bank, and he received a pre-approved offer for an IBC card, but it was underwritten by Elan, so he didn't apply


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Valued Member
johnicek
Posts: 80
Registered: ‎05-12-2013
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Re: Another 18 Year Old Looking To Build Credit

Thanks for the info on Elan!

 

Also, I just got an email from Citi Cards. They said they denied my application based on the report they obtained from Equifax. The reason was that there were "Too many credit inquiries recorded on your credit brearu report" So...Is that the answer I will get from other companies as well? I have not gone to the bak yet to ask there, but I am going to go to the website now and look over the details on the site so I have an idea of what they have, however, before I apply I will go in to the bank and talk to the people there first to see if there are better options they can offer me.

 

So now with 2 inquiries, am I in a bad position, or is there still hope for credit, be it on a secured or unsecured card?

Frequent Contributor
Laugh
Posts: 254
Registered: ‎12-29-2012
0

Re: Another 18 Year Old Looking To Build Credit

Did you try to recon the two denials?

For Capitol one, the quickest and most effective way is to email the EO. Explain your situation to them.

For Citibank, recon will be a bit tougher. I've read past posts in this forum that decisions made by the computer are set in stone. However, thats not a reason to not try. Why waste a hard pull, right?

I don't have the forward card, but my brother does. The citiforward card for college students was the first and only card my brother has. He had 3 inquiries on experian when he applied for it. However, his situation differs quite a bit. He didn't have to recon. He only had to provide proof of ID because they needed verification. And his income is only 4k.
Cards: CSP 6k, Chase Freedom 6k, BCP 7.5k, Sallie Mae 8.9k, Discover 5k, BOFA Better Rewards 3.8k
Valued Member
johnicek
Posts: 80
Registered: ‎05-12-2013
0

Re: Another 18 Year Old Looking To Build Credit

Laugh,

This is something I was thinking about. Can you direct me to the right email address and what should be contained in this email. Also, being new, what does EO stand for?

I think if it's possible to contact them and maybe get something, it's definately worth it. As you said, why waste a hard pull? I might as well get the most out of it. Worst they can say is no I suppose?

 

I will search over the forums here for more info on how to email them, but if you can point me in the right direction, I'd be very greatful! Thank you!

Frequent Contributor
Laugh
Posts: 254
Registered: ‎12-29-2012
0

Re: Another 18 Year Old Looking To Build Credit

Unfortunately I do not know the email to the Capitol one's executive office.

Sorry :smileysad:

Cards: CSP 6k, Chase Freedom 6k, BCP 7.5k, Sallie Mae 8.9k, Discover 5k, BOFA Better Rewards 3.8k
Valued Member
johnicek
Posts: 80
Registered: ‎05-12-2013
0

Re: Another 18 Year Old Looking To Build Credit

No problem,

 

I am searching the forum and I have seen a few members that have it. I will attempt to PM one or two and see if they still have it available. If anyone else might have this, feel free to PM me the info. Thanks again!

Community Leader
Senior Contributor
myjourney
Posts: 26,659
Registered: ‎02-07-2013
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Re: Another 18 Year Old Looking To Build Credit


johnicek wrote:

No problem,

 

I am searching the forum and I have seen a few members that have it. I will attempt to PM one or two and see if they still have it available. If anyone else might have this, feel free to PM me the info. Thanks again!


sent via PM

"Intelligence plus character--that is the goal of true education"
Last 5 apps 6/13


Valued Member
johnicek
Posts: 80
Registered: ‎05-12-2013
0

Re: Another 18 Year Old Looking To Build Credit

Thanks so much for the email! I will email them tonight and post any news I get back from them.


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