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Valued Contributor
BearsAndTurtlesRtheBest
Posts: 3,423
Registered: ‎10-02-2012
0

Okay! so I applied for a credit card

Applied got the leter and was not approved obviously. But wanted to give it a try. I applied for the buckle credit card issued by Comenity Bank. Okay so I received my letter and it says MY fraud risk score as of 11-25-12 is 595 range from 0-999? what!? My question is what is a fraud risk score dont like the sound of that one :smileyindifferent:

 

most significant factors that affected my approval was

lack of revolving trades or at or above credit limit on new revolving trades

low level verification

lack of new credit activity

low level of validation

Closing all of these credit card accounts once paid off for a fresh start.
$600$800$1,000$500(AU) $2,500
EQ FICO---, EX FICO---, TU FICO---, AAOA 6 months, Utilization 74%, No delinquencies of any sort.
Inquiries on EQ: 19, Inquires on EX: 30, Inquiries on TU: 21, Gardening Since 06-25-14
Established Contributor
Cageym
Posts: 507
Registered: ‎07-31-2012
0

Re: Okay! so I applied for a credit card

Is your signature right? 18 in high school with no income? Not trying to be nasty but did you really think they were going to give a credit card to someone with no income at all? I don't know exactly what they are calling a fraud risk score but I would think it's some internal scoring system they use.

What's in my wallet: Cap1 Venture $10K NFCU Sig Visa $25k Amex Zync NPSL Delta Gold $18k BCE $2k Citi Simplicity $5450 Priority Select Visa 5.9K Amazon Visa 4k CSP 5k
Starting Score: 5/2010 550-ish
Current Score: 6/20/2013 TU 800 6/20/2013 EQ 770 6/20/2013 EX 775
Goal Score: 800 accross the board
Moderator
Shogun
Posts: 12,952
Registered: ‎04-15-2011
0

Re: Okay! so I applied for a credit card

+1  It's an internal proprietary score.


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
Valued Contributor
BearsAndTurtlesRtheBest
Posts: 3,423
Registered: ‎10-02-2012
0

Re: Okay! so I applied for a credit card

[ Edited ]

@Cageym I really want to begin my credit, nd didnt really focus on the fact I don't have an annual income.Yea I'm aware that an annual income is needed but like I mentioned i wanted to give it a try. But now I saw that no annual income is a no go no matter what :smileyhappy:

Closing all of these credit card accounts once paid off for a fresh start.
$600$800$1,000$500(AU) $2,500
EQ FICO---, EX FICO---, TU FICO---, AAOA 6 months, Utilization 74%, No delinquencies of any sort.
Inquiries on EQ: 19, Inquires on EX: 30, Inquiries on TU: 21, Gardening Since 06-25-14
Regular Contributor
CotySinz
Posts: 237
Registered: ‎06-27-2011
0

Re: Okay! so I applied for a credit card

I was in your shoes 2 years ago. I'm currently 20 I'll be 21 in May. Obviously the income is the biggest issue but you lack public records such as address verification and so on so that is an issue as well. As much as you probably don't like to hear this but Cap One gave me my start, I was approved for an unsecured platinum visa with a $500 limit when I started my credit journey (albeit my income was $13,000) was in the steps program -- limit bumped to $750 and it's been that way almost 3 years now. But again, they gave me my start - now I'm in with Amex and Chase. Don't litter your credit report with inqs like I did when I was your age - apply for stuff you know you have a chance at such as a secured or unsecured builder card - don't waste HPs on store cards and prime cards as you will get denied every time - it took almost a year with Cap One before I started getting approved for store cards. I started my journey on my own, I wasn't an AU on anyones cards or anything and the temptation to max cards out when your young is a lot but you gotta resist - it's a pain if you do, believe me... I've been there.


Starting: 563 | Current: 753 (Walmart TU 11/12) | Goal: 800 | Garden since: 01/15/2013

Blogger
HiLine
Posts: 2,868
Registered: ‎10-19-2012
0

Re: Okay! so I applied for a credit card


BearsAndTurtlesRtheBest wrote:

I really want to begin my credit, nd didnt really focus on the fact I don't have an annual income.Yea I'm aware that an annual income is needed but like I mentioned i wanted to give it a try. But now I saw that no annual income is a no go no matter what :smileyhappy:


Nice to hear of a young person so curious about the credit world. Have you tried asking your family to add you to their credit accounts as an authorized user?

 

Valued Contributor
BearsAndTurtlesRtheBest
Posts: 3,423
Registered: ‎10-02-2012
0

Re: Okay! so I applied for a credit card

@HiLine Thanks!  Yes Ive tried but like @CotySinz said since I lack public records as to my address it automtically reports to my dads repot because we have the same name and live in the same address. So thats not possible.

Closing all of these credit card accounts once paid off for a fresh start.
$600$800$1,000$500(AU) $2,500
EQ FICO---, EX FICO---, TU FICO---, AAOA 6 months, Utilization 74%, No delinquencies of any sort.
Inquiries on EQ: 19, Inquires on EX: 30, Inquiries on TU: 21, Gardening Since 06-25-14
Valued Contributor
navigatethis12
Posts: 1,916
Registered: ‎01-24-2012
0

Re: Okay! so I applied for a credit card


BearsAndTurtlesRtheBest wrote:

@HiLine Thanks!  Yes Ive tried but like @CotySinz said since I lack public records as to my address it automtically reports to my dads repot because we have the same name and live in the same address. So thats not possible.


Do you each have Sr. and Jr. after your names? I get mixed up with my dad but not that frequently, because I always use Jr. and he Sr..

Established Contributor
distantarray
Posts: 2,112
Registered: ‎09-25-2011
0

Re: Okay! so I applied for a credit card

i think the best thing would be to try to get you an account of your own, and a couple AU's.

 

1. Get a job :smileytongue:

2. if they'll add you as an AU see if they'll go joint with you. Macy's in person if you apply with the primary applicant listed on top they'll only pull their report if their score is above 720 and won't even pull yours and automatically get approved for 2 lines of credit. after you built your history it might be possible to remove a person off the account as long as it's PIF. (not sure about the removal part, but seems logical)


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Valued Contributor
BearsAndTurtlesRtheBest
Posts: 3,423
Registered: ‎10-02-2012
0

Re: Okay! so I applied for a credit card

@CotySinz WOW you have great cards! Yea your right about littering my credit report with credit inqs I will not do that. SO I will stop and try to get an income that I can include when applying for my next credit card which will not  be until I have that job :smileyhappy: Hope to be in your shoes by the time I turn 20. thanks for your advice! 

Closing all of these credit card accounts once paid off for a fresh start.
$600$800$1,000$500(AU) $2,500
EQ FICO---, EX FICO---, TU FICO---, AAOA 6 months, Utilization 74%, No delinquencies of any sort.
Inquiries on EQ: 19, Inquires on EX: 30, Inquiries on TU: 21, Gardening Since 06-25-14

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