03-31-2012 11:00 AM
I applied for a credit card to start building my credit but I was turned down for reasons they stated. I want to build my credit again, I have no credit cards at all. what should I do..I need credit.
03-31-2012 11:11 AM
Take a deep breath and take your time.....do not rush into the "credit world" if you are not prepare for it. First, are you a student in college; second if not, try applying for a secure credit card like USAA, NFCU, PENFED, and others. Thirdly, how is your credit looking.....
03-31-2012 11:35 AM
I can't speak for Kohl's, but WF is VERY hard to get and NOT a starter card.
We need some more info to advise you...
Are you just building credit at a young age, or are you rebuilding?
Do you have anything on your CR? (Student loans? auto loan? anything at all?)
Do you have any baddies on your CR? (late payments, collections, etc.)
Have you pulled your CR? Since you were denied credit, you can get it free. You can also get one CR free a year from www.annualcreditreport.com.
If you're just starting out and have nothing (good or bad) on your CR, then you probably don't need to pull it. Otherwise, you definitely should. You need to see what is one each of your CRs, because they're not always the same. (Experian, Equifax and Transunion)
If you give us more info, we'll be able to give you some suggestions.
03-31-2012 11:35 AM
Hello, and welcome to the forums.
You stated that you want to build your credit again. So, I assume from this that you are rebuilding your credit. If so, what does your credit past look like? Do you have a history of closed accounts in good standing, or do you have some that show late payments, charge-offs or collections? Have you pulled a credit report recently? Do you know your FICO scores?
Please know, these questions carry no judgements whatsoever; just trying to get an idea of where your credit stands currently so that we can help to give you and idea of what cards you might be able to be approved for.
03-31-2012 11:46 AM
I do have late payments...but if I want to rebuild my Credit..they should give me a Change to do so even if it's a small amount to start with, maybe.
I understand the catch-22... in order to be extended credit, you have to have good credit; but, to have good credit, you have to have been extended credit.
This is where rebuilder cards come in. These are accounts that are designed for people who are either new to credit or have had problems in the past. They have easier approval criteria than the prime issuers, such as Wells Fargo, Citi, Chase, BoA, Amex, Discover, etc.
Once again, if you can give us a detailed breakdown of your credit reports, we can make specific recommendations.
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