Re: denied wells fargo secured credit card?
07-17-2012 04:40 PM
Welcome to the Forums and congratulations for being so credit swavy at such a young age. I wish I knew half of what you know now when I was your age.
I agree that you have enough cards and you should probaby wait on applying for a while. Use your cards but make sure they are paid off before they report to the CB. Look at your credit card statements or look online and figure out what your "Statement Date" is. This date should be the same every single month. Make sure that your cards are at zero by the statement date every month. Note that the statement date is usually different from the due date. I didn't realize this for a long time. I would pay off my balance on the due date but use the cards and let stuff accumulate before the statement date. Thus each month, I had a balance reporting to the CB even though I paid it off every month.
The key to the credit journey is patient and restraint. If you spend anytime at all on this site, you will see lots of people come and go with approval stories. There is always the temptation to apply for something, esp if you have similar credit profiles. However you need to learn to wait and let your record get grow over time. Before you know it, you'll be able to apply and be approved for any card you set your heart on.
FICO Scores: TU 735 EQ 695 EX 740 (Feb 2013, all pulled by lender)