I have no credit & want a credit card I dont have the money for a secured card

[Anonymous]

 keep getting turned down, There is no one I can piggy back, i asked my personal bank and was declined due to limited credit history.....i keep thinking of premier card but i am afraid of the stories i have read. I have been dclined for hooters, cap one, credit one, target and so on HELP!

[llecs]

Have you had a chance to pull your two FICO scores? If so, what are they?

Do you have any baddies holding your score back?

A secured CC may be the fastest and safest route. If you keep apping, you'll keep getting turned down. A secured card can easily be opened with as little as $300. Banks like BofA will actually return the $$ within a year.

[Anonymous]

 not enough to create a score, I tried to pull my score on here but equifax wouldnt release it.... but per true credit it says there is not enough to create a score....not even enough for a bad score. I guess I will have to break down and get a secured card.....ugh!

[haulingthescoreup]

In your current state, that would be best. I'd hate to get a credit card without money in the bank to back it up and pay my bills without sweating it. That's just an invitation to disaster.

[Anonymous]

If you don't have to have credit pretty much immediately, you can ask your bank if they would give you a credit card after 6 month of debit card use. My bank handled it this way. This means another 6 months until your credit history starts, but if you don't have the money for the secured card, that might also be an option.

[grungebuddy]

Try Crown Jewelers, wait 6 months and apply for an unsecured Orchard.

[Anonymous]

maybe it would be better for you to have a money in your bank first so that you can show your creditors that you have enough money to pay them for the issuance of the credit card..

Message Edited by llecs on 05-29-2009 01:38 PM

[Anonymous]

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@Anonymous wrote:
 keep getting turned down, There is no one I can piggy back, i asked my personal bank and was declined due to limited credit history.....i keep thinking of premier card but i am afraid of the stories i have read. I have been dclined for hooters, cap one, credit one, target and so on HELP!

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Two possibilities:

1.  Open a savings account with a Credit Union that offers Secured Loans and Secured Cards (can do this with just $5).

2.  Deposit $50 per month for 6 months.  Then apply for secured card or loan then.

3.  Open a savings account with a Credit Union that offers CREDIT BUILDER LOANS.  A credit builder loan is a savings secured loan, but they loan you the money to put into savings first.  In other words, the loan proceeds are put into savings as the collateral.  Once you pay off the loan, the savings balance is yours.

However, if you can't afford to save $50 or make a loan payment on a builder loan, then you really should not be applying for credit.

[moondog7324]

Follow my advice in this thread:

http://ficoforums.myfico.com/fico/board/message?board.id=creditcard&message.id=151556#M151556

The sad truth is, if you do not have enough discipline to put away 50-100 bucks a pay into a dedicated 'credit repair' savings/checking account- then you do not have the discipline to have a credit card. Credit is a priveledge and transaction built on trust.

You are wasting valuable inquiries on juk cards- and at some point you will be getting turned down for too many inquiries. There are cards you can get wil huge fees- but why pay the fees if you can apply the same amount to a savings account, while building that trust.

[tommylive]

Try Crown Jewelers. That increased my credit score 60 - 80 points.