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


johnicek wrote:

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


Good luck

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


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kimmiller112
Posts: 468
Registered: ‎04-09-2012
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Re: Another 18 Year Old Looking To Build Credit

Definitely recon those two rejections.  You never know what can happen.  Then try for a secured card and you might want to try with BofA if your bank doesn't offer secured cards.  BofA's secured cards usually unsecure after a year (sometimes even a couple of months sooner).  If there is a credit union that you can get into near you, you should think about one of them.  Down the road, when you are thinking about buying a house or financing a car, they will probably offer better rates than a bank would.  Some credit unions are easy to get a credit card with, some are harder, but if you can get a secured card that way, that would be a great option.  Once you have one secured card (the more money you can put on there, the better for you), do not app for anything for at least 6 months.  That way, you will be showing good history on that card and those recent inquiries will have aged a little.  If you can hold off until you have actual income from a job, you may want to try for one or two more at that point.

 

If your parents are willing to add you as an AU onto one or two of their cards, it will also help you out.  They don't even have to give you the card.  

 

It is great that you are asking questions at such a young age.  When I was your age, companies were handing out credit cards left and right and I got in over my head and am paying for it now.  There are a lot of smart people with great advice on here, so don't ever be afraid to ask questions. 

Barclays USAir World MC $8300 - DCU $7500 - USAA World MC $7000 - PayPal Extras MC (GE) $5500 - Chase Saphire Preferred $5000 - Discover It $5000 - Barclays Sallie May $2700 - Chase Freedom $1000 - Capital One $8500 (business) - store cards ranging from $500-$9500
Valued Member
johnicek
Posts: 80
Registered: ‎05-12-2013
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Re: Another 18 Year Old Looking To Build Credit

kimmiller112,

I definately will recon them. I have heard a lot about the BofA secured, and I will try apping for it in a couple months once I have a steady job. I will look into credit unions if my bank doesn't offer anything, however, I will be switching banks (Moving) in a few months. Most likeley BMO or USBank.

 

If I can't get approved for a secured, I will try to get my parents to add me as an AU, even if I leave them $300 (Or whatever my limit would be), so they would be assured I would pay. If I do this, I'm going to have more questions, but for now, I want to stay concentrated on the 2 cards I have already applied for instead of having my mind woking on 50 things at once.

 

I am definately looking to build a strong credit history. I figured that the earlier, the better, since you never know when you will need it. I'd rather be able to get the credit and not need to, than to need the credit, but have a lack of history. Also, a big thanks to everyone on this forum. Usually, most forums I have visited frown upon newbies, especially ones that ask questions that are asked a lot (I'm sure my situation is discussed a lot on here). Everyone on the fourm has been very friendly and helpful, and I sincerely appreciate everyone's input. Even if I don't directly respond to anyone, I read every message that is posted on this topic, so thanks a ton! It has really helped me so far!

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

Would it be worth it to apply for a store card from a department store, or a gas station card? I have heard they are easier to get in some cases.

 

Still waiting on the recon with Capital One. I hope to hear from them this week.

Established Contributor
Rackham94
Posts: 508
Registered: ‎04-01-2013
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Re: Another 18 Year Old Looking To Build Credit

Absolutely a store card would be great make sure it is GE if possible

 

Walmart and Amazon are great will help with larger CLs

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

Well, I live in kind of a tiny little town, the only real name brand retail store we have here is Wal-Mart. Is it worth a shot to app for the store card?

 

Otherwise, I get gas at Mobil, and occassionally Shell. Mobil I get a discount from a local grocery store rewards program, and Shell has one as well, but my parents usually use that one for their car.

Established Contributor
Rackham94
Posts: 508
Registered: ‎04-01-2013
0

Re: Another 18 Year Old Looking To Build Credit


johnicek wrote:

Well, I live in kind of a tiny little town, the only real name brand retail store we have here is Wal-Mart. Is it worth a shot to app for the store card?

 

Otherwise, I get gas at Mobil, and occassionally Shell. Mobil I get a discount from a local grocery store rewards program, and Shell has one as well, but my parents usually use that one for their car.


It is worth a shot GE is usually very easy to qualify for but would recommend at least 6 months on a CC. Did you ever recon Capital One journeys?

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

Re: Another 18 Year Old Looking To Build Credit

I am in the process of the recon on Cap1 Journey. I emailed last night, hopefully I will hear from them yet this week.

 

I am still currently sitting at no cards, just 2 denied apps (1 from Cap1 and one from Citi)

Contributor
mcf
Posts: 355
Registered: ‎02-25-2013
0

Re: Another 18 Year Old Looking To Build Credit

so im sorry as it has been a while since i was 18 lol.. do you have scores? if no history.. have you signed up for anywhere to look? Im ignorant because like someone else said on here i turned 18 and no lie, bank lady pulled cards out of a drawer swiped it and bam i had credit lol.. i didnt even have to wait for them to be mailed it was instant. Like the other poster had said i payed for everything on my plastic.. it was free right lol.. so soak up all the knowlege you can, it will only make things way easier in the future for sure. Most are gonna want to see some sort of 6 mth history im sure. so as soon as you get one stay with it for 6 mths as stated. I dont know why but cap1 sometimes seem a little stiff.. wasnt discoverIT student approving like the next best thing since sliced bread??

Starting Score:Walmart TU 686, MyFico EQ 630, Credit Sesame 649, CK 636Current Score: 689 TU/Walmart CK 645 Goal Score:700 CLUB
Last HP:5/21/13Take the myFICO Fitness Challenge
Valued Member
johnicek
Posts: 80
Registered: ‎05-12-2013
0

Re: Another 18 Year Old Looking To Build Credit

I have not checked my scores. By signing up from anywhere to look...Do you mean get a copy of my reports?

 

The other day I went to the annualcreditreport site and was about to get my free copy, but I decided not to. Should I grab a copy?

 

Never had any cards or loans, etc. Just looking for the company that will give me a chance and let me prove I am responsible with credit.

 

I have heard of the Discover It Student card. Would this be better to app for than Wal-Mart? Keep in mind I do already have 2 denials, and I am assuming a few HP's from them.


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