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New Visitor
Lamboguy35
Posts: 3
Registered: ‎05-06-2013
0

Building Credit!

Hello everyone! I recently turned 18 and want to build my credit. I'm a full time student at a community college and have a part time job. I foolishly applied for a Discover It student card and was denied for having no credit history. Does anyone have any reccomendtions to build my credit?

Valued Contributor
vish1
Posts: 1,129
Registered: ‎01-20-2011
0

Re: Building Credit!


Lamboguy35 wrote:

Hello everyone! I recently turned 18 and want to build my credit. I'm a full time student at a community college and have a part time job. I foolishly applied for a Discover It student card and was denied for having no credit history. Does anyone have any reccomendtions to build my credit?


I will look at some other student card say cap 1 etc. If that pans out perfect else get a secured card. 3 months down the line get a GECRB card like JC Penney. From there wait for an year and you will be in prime land.

Amex PRG | BoA Cash rewards 35K | BoA Cash rewards 7K | Citi AAdvantage 15 K | Chase Sapphire Preferred 11 K | Chase Freedom 10k | Chase United 5 K | Chase Southwest 5K | Chase Airtran 6.4K | Discover IT 8K | Barclays US Airways 7.8 K | DCU 3 K | US Bank Flex Perks 8K | Toys r US 6 K | JC Penney 4.6 K | Macy's 1200 | Kohl's 600
Ex Fico: 762 (PSECU)
EQ Fico: 764 (DCU)
TX Fico: 773 (Discover)
New Contributor
Hubcapjw
Posts: 63
Registered: ‎04-12-2013
0

Re: Building Credit!

Check out capital 1. They have a pre approval process on their site which is not a hard pull and if u don't qualify for an unsecured card their secured is an option and is very low in fees. I've had no problems w them so far. Their phone app is good and u can pay the bill thru the app daily, weekly, or monthly. Use the card wisely meaning don't run up $200 in charges when ur limit is $200.
Frequent Contributor
Laugh
Posts: 254
Registered: ‎12-29-2012
0

Re: Building Credit!

You should recon for the Discover it.

I can't understand the reasoning behind the so called "student" cards if students are the ones getting denied due to a limited credit history.

My brother applied for the citi forward card for college students and he was able to recon an approval of $500 after getting a denial.
Cards: CSP 6k, Chase Freedom 6k, BCP 7.5k, Sallie Mae 8.9k, Discover 5k, BOFA Better Rewards 3.8k
Regular Contributor
Tommy5746
Posts: 440
Registered: ‎02-08-2012
0

Re: Building Credit!

Trying to get a card with a big enough CL to to buy that Lambo, huh? Haha i kid i kid! In all seriousness, i would try Capital One as others have suggested.. and even try doing a recon for Discover!

Goal: 700 and an Amex Card!

Chicks Dig Guys With Good Credit :smileyhappy:
New Visitor
Lamboguy35
Posts: 3
Registered: ‎05-06-2013
0

Re: Building Credit!

Thanks for the replies everyone! I will definitley check out Capital One. Is it better to go the secured or unsecured route in my situation? Also how exactly do I recon Discove'rs decision? 

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

Re: Building Credit!

Check the back door posting for discover's number.

Market yourself. Play to your strengths.
Cards: CSP 6k, Chase Freedom 6k, BCP 7.5k, Sallie Mae 8.9k, Discover 5k, BOFA Better Rewards 3.8k
New Contributor
Hubcapjw
Posts: 63
Registered: ‎04-12-2013
0

Re: Building Credit!

Cap 1 will tell u which card u prequalify for on their website! The cap 1 secured card reports as a normal card so its not a big deal! Stay away from subprime cards that charge crazy fees! Stick with well-known banks unless ur credit is in the tank.
Valued Contributor
boomhower
Posts: 1,863
Registered: ‎09-20-2011
0

Re: Building Credit!


Lamboguy35 wrote:

Thanks for the replies everyone! I will definitley check out Capital One. Is it better to go the secured or unsecured route in my situation? Also how exactly do I recon Discove'rs decision? 


Just call discover and tell them you'd like your app reconsidered.  If need be ask to be transfered to a credit analyst or underwriter.  Look around here and see if they have a backdoor number, not sure if they do. 

 

If you can get an unsecured capone that would be an option.  If you have a local CU I'd check there for a secured card.  That would start a relationship with a local credit union that will benefit much more over the years than a secured card with capone.  Bank of America and Wells Fargo both offer secured cards that eventually unsecure.  But they may not be the best option with no credit history.  I'd strongly suggest going with a credit untion of some type.

New Visitor
Lamboguy35
Posts: 3
Registered: ‎05-06-2013
0

Re: Building Credit!

Thanks for everyone's advice! I attempted to get a recon with discover, but was unsuccessful. The representative explained to me that I don't have any credit history and to try again in six months. I'm going to keep trying and consider capital one. I also have a checking account with PNC. Should I apply for a card with them?


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