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Student with no Credit can't get a CC!!!

Established Member

Student with no Credit can't get a CC!!!

Hello,

 

My brother is trying to get a credit card.  We tried to pull his credit but there's nothing there.  He has 0 history.  Nothing.

 

He applied at his bank (CHASE) for a student card and got declined.

He then applied for discover student and got declined.

He then applied for a cap one student and got declined.

 

Now we are afraid he's attempted too many.  What do students do if they have 0 credit??!?!?!?  I thought student cards would expect kids to have no credit history.  I would expect him to get maybe 300 bucks or so of credit, but he's getting declined.

 

Any ideas???  What should we do?

Thanks

Message 1 of 6
5 REPLIES
Established Contributor

Re: Student with no Credit can't get a CC!!!

 Do your parents have a card with a long history, low utilization and perfect payment history that they can add him as an AU to the card to give him an instant history? Make sure it is one that reports AUs to all three credit bureaus (they don't need to actually give him a card just get his name on there so it will create a history for him) then he can reapply when he has a history.

 

Alternatively, try getting a secured card from a CU or one of the big banks... yes he will have to put the money down but many of them (not orchard) will mature to non secured after 9-12 months and he will get his deposit money back and will get a history... it will take 6 months to get him a score at all this way whereas with an AU he will get one as soon as that card reports

Message 2 of 6
Established Contributor

Re: Student with no Credit can't get a CC!!!

I would just build up a relationship with a local bank or CU and ask them what their normal way to build up credit as a student is. Some want you to use their debit card for a while, whereas others will go the secured credit card way.
Message 3 of 6
New Member

Re: Student with no Credit can't get a CC!!!

A few years ago I was in a similar position. I applied for a student Discover card and got declined because I had no credit history. I then applied for the Citi MTVu card after working the same job for over a year and got the card. So I think it may have a lot to do with work history since they can't really rely on anything else.
Message 4 of 6
New Contributor

Re: Student with no Credit can't get a CC!!!

If you have a job and direct deposit to the bank/CU, that can help as well.

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5/31/09 - 736 - EQ
Message 5 of 6
New Contributor

Re: Student with no Credit can't get a CC!!!

In this case, you're stuck to either an AU or help from a CU
Message 6 of 6