Can't seem to get my first CC!

[DaylightSlaving]

I'm with Jamie123 on this one.

Capital One has an established history of extending credit to those without a credit history, as well as lending to those who are currently rebuilding credit.

I went through this same ordeal last year, and it was a pain. I was what lenders called a "ghost" (someone that literally doesn't have a credit history AT ALL). And even though no credit is better than bad credit, you're still treated nearly the same; no one wants to take the risk.

Fortunately though, Capital One approved me for their Visa Plat CC, and the rest is history. I'd definitely go for it dude; my friend just got approved for the same card last week and he doesn't have any credit either. I'd say your chances are pretty high. Plus dude, Capital One is a pretty great place to start.

Whatever you do, avoid First Premier Bank and Credit One Bank. From my studies, they're only interested in taking advantage of you.

I wish you the best in your journey dude! It's all pretty serious, but remember to have fun with it (maximize rewards and cash back, get some goodies! ).

[cheap151]

Thanks for your help everyone! It seems the consensus was Cap One Secured. I looked over the fine print and didn't see anything objectionable so I applied. I has approved online! I only have to put down $49 deposit for $200. So weird I didn't even have to send any documentation in. Maybe my first denial/inquiry(Either Exxon or the credit union if they did a hard pull) showed up so I'm not a ghost. After 6 months to a year I'll try to get a real card or two with no annual fee and ditch the secured card (To avoid the annual fee). For my Credit Union membership denial, the ChexSystems box was not checked, only Equifax. I've never overdrawn my bank account I think they might use credit reports to verify identity and not bother with manual verification. I am just going to use one of those online savings accounts and stay with my current CU for checking. They are right down the street so it's convenient for getting rolls of quarters etc.

[phillyguy12]

congrats,  with the checx systems thing though if you want you can still get a free copy every so often its all apart of the regulations that were passed over the last few years, they are odd though they wont give it yo you online, you can request it online but its mailed to you.  if you know you never been overdrawn or burned anyone you should be fine, just seems a little odd to me the bank that deined you for a savings account pulled a credit report,  but then again its prob been at least 10 yrs since i opened any kinda of reg bank account so things prob have changed

[the_jan_b]

Congrats!  May your road to credit be filled with good things! 

[09Lexie]

Congratulations.  Once you begin to generate a CS -usually 6mo- you should add 2 more cc's. If you can, I would suggest going into BoA to add their card - it will graduate.  Having two cards now is better than 1. 

[DaylightSlaving]

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@cheap151 wrote:
Thanks for your help everyone! It seems the consensus was Cap One Secured. I looked over the fine print and didn't see anything objectionable so I applied. I has approved online! I only have to put down $49 deposit for $200. So weird I didn't even have to send any documentation in. Maybe my first denial/inquiry(Either Exxon or the credit union if they did a hard pull) showed up so I'm not a ghost. After 6 months to a year I'll try to get a real card or two with no annual fee and ditch the secured card (To avoid the annual fee). For my Credit Union membership denial, the ChexSystems box was not checked, only Equifax. I've never overdrawn my bank account I think they might use credit reports to verify identity and not bother with manual verification. I am just going to use one of those online savings accounts and stay with my current CU for checking. They are right down the street so it's convenient for getting rolls of quarters etc.

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Hell yeah! Congrats dude! 

When you get the card in the mail, make sure to download the mobile app. It definitely makes life easier! 

Phase 2: Take care of her for a short while, and ask for a PC to the Quicksilver card.  Bam!

[tinuviel]

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@cheap151 wrote:
Thanks for your help everyone! It seems the consensus was Cap One Secured. I looked over the fine print and didn't see anything objectionable so I applied. I has approved online! I only have to put down $49 deposit for $200. So weird I didn't even have to send any documentation in. Maybe my first denial/inquiry(Either Exxon or the credit union if they did a hard pull) showed up so I'm not a ghost. After 6 months to a year I'll try to get a real card or two with no annual fee and ditch the secured card (To avoid the annual fee). For my Credit Union membership denial, the ChexSystems box was not checked, only Equifax. I've never overdrawn my bank account I think they might use credit reports to verify identity and not bother with manual verification. I am just going to use one of those online savings accounts and stay with my current CU for checking. They are right down the street so it's convenient for getting rolls of quarters etc.

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Congratulations! Take good care of your account, use it responsibly, and you'll be well on your way to building your credit. Best wishes to you.

[jamie123]

Congrats on the Cap1 card!

Cap1 gets a lot of smack around here but they really do treat beginners and rebuilders right. It is a good lender that won't take advantage of you but they are also extremely stingy with CLI. Keep this card until you have at least 3 other cards and then close it and get your money back.

Okay, now....

Don't quit yet!

Don't stop until you get denied by Walmart. You have nothing to lose at this point. Worse case is you will have another hard pull on your reports but in the big scheme of things that is not important. The upside however is tremendous! If they do approve you you will have two credit cards to build history for the next six months. If you wait to apply for six months you will never know if you would have been approved now.

Really...You have nothing to lose right now but a little pride. Suck it up and go for it!

Let us know how it turns out.

You can do it!

Good luck!

[ptilda]

I also have the CO scured (as well as the unsecured Journey). Also paid the minimum.Good job!

Based on info I found here, I'm planning on puting 50.00 increases to the deposit every month, and I've heard they are generough with auto CLIs with good pmt. Might be at the max in no time! Worth a try.