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yeah so about a year ago i took my old 39 y/o butt back to school (still another few semesters to go).
anyway it just occured to me that alot of CC companies have their 'student cc' versions. it looks to me that most are for 'no credit to build history', but some just state current enrollment is required. most of the cc databases show a lower approval 'avg score' for these, but no idea on the accuracy.
any experience with this? if the approvals are more lax, would seem to be a good way to get a foot back in the door with some of the cc companies.
bump.
I got approved for $1,200 from WF student card. Yes, the bank checked on my student status (it's active) but I have no idea how they checked it up. Maybe, thru directly university that I am going to or the transactions on statement because I pay my tuition fee by WF debit card.
This is my first unsecured cc. I definitely had no cc history before, not even secure card in the history.
At first I knew that no bank is gonna give me cc, so I went to talk to my banker about applying for secured cc but then she told me that I might get approved for this student card. She helped me fill up application and everything. A few days letter she emailed me that I was approved for that. I still feel so grateful to her.
Hope this helps. Good luck
I still have and access my college email.
@Crossdivided wrote:yeah so about a year ago i took my old 39 y/o butt back to school (still another few semesters to go).
anyway it just occured to me that alot of CC companies have their 'student cc' versions. it looks to me that most are for 'no credit to build history', but some just state current enrollment is required. most of the cc databases show a lower approval 'avg score' for these, but no idea on the accuracy.
any experience with this? if the approvals are more lax, would seem to be a good way to get a foot back in the door with some of the cc companies.
I feel like they're more forgiving of a thin file, but not so much for a bad file. I was approved for a C1 Journey with two unpaid CA's, two paid CA's and one paid CO reporting (at the time). The only good TL's reporting were an AU Amex account and two deferred student loans. The approval amount was $500. I was denied the Discover it student card due to the baddies. From what I've read, it seems the CCC's are highly inquiry sensitive when it comes to student card apps. Also, it seems like you will get lower limits with student cards.
@jordanmedical wrote:I still have and access my college email.
technically, if you already graduated, you shouldn't be applying for college cards. This can constitute as fraud because you are misrepresenting yourself.
Now, will banks find out? Most likely not.
Will you go to jail over this if they find out? Most likely not either. Worst case scenario you just get blacklisted for a period of time.
However, it's just not worth the risk to have the underwriting requirements lowered by just so little. Most importantly, the benefits (such as credit limit) are also considerably lower than the normal version.
Like the poster above me said, they're more lenient on thin files, than bad ones. The different in scores needed for the normal card and college card is probably in the 30-40s (my speculation), so if you qualifed for the college card, you're really not too far off from qualifying for the normal version.
I got denied three times for the Discover IT Student card, for "too many recent inquires", and "length of credit history". Same reason I got each time, yet I've been getting approvals elsewhere. I go to a two yr community college currently, and it was actually listed in the drop down menu on the app. Even though one CSR told me that four-yr schools only, my thing is then why the hell would you have 2-yr colleges listed then in the drop-down menu if they weren't eligible? Things like this irks me to no end. Discover really got on my bad side. Citibank kinda sucks but at least they approved me with pretty much no credit history at the time, even though it was a long process (apped in late July for them, didn't get approved until mid-Sept). They took a risk on me, and I have to give them credit for that, no pun intended. I tried reconning with Discover to no avail, I tried like three times though. I still haven't received the letter for denial yet.