topic Re: 18 year old credit cards approved and denied in Credit Card Approvals

18 year old credit cards approved and denied

Anonymous — Thu, 23 Jul 2015 23:23:08 GMT

Hi everyone,

Well to start off I am a 1st time college student just finished HS in june 2015 and enrolled in college now. Well my mom added me as a joint account holder on her Crown diamonds jewerly card in 3/2015 that she has had since 2006 and all three of my credit scores are 775. Great right well now I want to bulid credit on my own so I applied for AT&T 6/2015 ( cell phones and cable and got approved for 10 lines on the spot and the cable of course) in the store no deposit needed. Yey!!!. Next applied for 1st National Bank card 6/2015 by online and they approved me for $850 credit limit. Applied for Macy ($300) on the spot approval card in store 7/17/2015, then went over to Traget (same day) got approved in store for $500 but until my perm card come can spend $300 so what ever cool with me. Then went Norstrom and at the counter they denied me and when I called at the counter to see why, I was told they couldnt verify my address and phone number ( give me a break are you kidding) so they told me to apply for there debit card that wil be linked to my checking account and did that and they still denied me WHAT!!!. The lady on the phone told me to call safestream to have them send my report to see whats on it and make sure everything is right so now I am waiting on this report. Applied for Discover It for college student last week 7/18/2015 and was told it was approved then the lady forgot to tell e for how much so I callled back 7/22/2015 and the lady told me it was denied and i will be getting a letter WHAT!!! are you kidding me. Applied for 1st premiere bank online and got approved for $300 credit limit after did application and 60 seconds later.

Now my friends applied for discover it and got approved and they dont have not one account on there credit report and dont work so how could this be. I work part time and make 20k a year, been on my job for 2 years, not one late payment ever on my credit report and i get denied.

Fast forward got the alert today 7/23/2015 that my Macy account was reported to Experian as a new account (only spent $14 and have not got a bill yet) and it LOWER MY SCORE FROM A 777 TO A 741 A 36 POINT DROP HOW CAN THIS BE. When 1st National bank report it as a new account on my experian report ($23 balance) on 7/18/2015 it did not lower my score at all. I am worried because Target has not report my account to my credit bureaus yet but I only spend $4.00 on the card in the store.

What cards should I apply for next that I can get and when should I apply for them.

Re: 18 year old credit cards approved and denied

toi34 — Thu, 23 Jul 2015 23:56:05 GMT

First of all CONGRATS on the approvals! ...but slow ya roll! Cancel that 1st Premier card, it is sub-prime and like a loan shark kinda card. People only get that card because they cannot any other cards...it is a last resort. You don't need that one (it will look bad to a manual reviewer). Apply for the Barclay Rewards card or any credit union card. If you want more store cards try the Synchrony cards and the Comenity Shopping Cart trick cards.

Your scores dropped because of a combination of inquiries + new accounts in a short period of time, your scores will bounce back in a few months as long as you DO NOT MISS A PAYMENT.

Good luck.

Re: 18 year old credit cards approved and denied

Creditaddict — Thu, 23 Jul 2015 23:57:54 GMT

since you have such a thin file new accounts will cause big drops but the good thing is they will be temporary.

You need to CLOSE First premier ASAP... that card is for terrible credit, not new credit!

Apply at Capital One!

Then garden for at least 6 months.

Re: 18 year old credit cards approved and denied

Anonymous — Fri, 24 Jul 2015 00:08:11 GMT

Well my mom added me as a joint account holder on her Crown diamonds jewerly card in 3/2015 that she has had since 2006 and all three of my credit scores are 775.

Am I reading that correctly? You had a score of 775 when all you had was an AU account? Where is that score from? Is it a Fico? Did you have other credit history besides the AU account?

Congrats on the new accounts!

Re: 18 year old credit cards approved and denied

Anonymous — Fri, 24 Jul 2015 00:09:04 GMT

Ok I will cancel the 1st premiere card, I have not gotten it yet it said 7-10 days so should I apply now for the cards you suggested

Re: 18 year old credit cards approved and denied

Anonymous — Fri, 24 Jul 2015 00:10:14 GMT

Hello so for the capital one card, which one should i apply for and should I do it now or wait

Re: 18 year old credit cards approved and denied

Creditaddict — Fri, 24 Jul 2015 00:10:28 GMT

@Anonymous wrote:
Ok I will cancel the 1st premiere card, I have not gotten it yet it said 7-10 days so should I apply now for the cards you suggested

you can go to capitalone.com and see if you pre-qual for cards... if you get "Congrats" message those are pretty much gauranteed to approve... you could apply for 2 back to back for same credit pulls.

if you don't get any offers you might want to wait little while.

Re: 18 year old credit cards approved and denied

ceejx — Fri, 24 Jul 2015 00:11:48 GMT

I'm not one to say congratulations on the approvals just for approval sake. Start a strategy and don't go for every little approval you can just because it's exciting (and it can be, like a drug!) I agree with the other poster on slowing down and also go for the Capital One. They are a great card to start and got me on my feet after credit troubles. Be careful with this credit, at that age and income, it is VERY easy to over extend yourself and send it up because you have "free money." Don't do this haphazard, you have all the time in the world! I only tell you this as a warning, not to patronize, because this is what I did!

Also you need a credit mix. Having all store cards and no credit cards (they're viewed as different products on FICO) is bad. Start working on getting positive timelines (TLs) on your credit file and building up your limits. It's exciting to get approvals, and starting young, by the time your my age you'll have old TLs, which is great, but you don't want to go to far too fast.

Good luck!

Re: 18 year old credit cards approved and denied

Anonymous — Fri, 24 Jul 2015 00:12:04 GMT

Yes that correct she added me as a joint card holder in march 2015 and this was the only account I had on my credit report before I applied and got the others one's. Yes the score is from FICO and I subscribe to all 3 of the credit bureaus monthly

Re: 18 year old credit cards approved and denied

Anonymous — Fri, 24 Jul 2015 00:14:47 GMT

@Anonymous wrote:
Yes that correct she added me as a joint card holder in march 2015 and this was the only account I had on my credit report before I applied and got the others one's. Yes the score is from FICO and I subscribe to all 3 of the credit bureaus monthly

WOW! A few months of AU on one card, and a 775 Fico. There was a huge debate about this recently with one forum member claiming that a score that high could not be achieved that quickly with one or two cards. Now we have evidence that it can be done.

Re: 18 year old credit cards approved and denied

Anonymous — Fri, 24 Jul 2015 00:14:48 GMT

Ok thank you will go to capitol one website and see what happens

Re: 18 year old credit cards approved and denied

Anonymous — Fri, 24 Jul 2015 00:15:51 GMT

@Creditaddict wrote:
@Anonymous wrote:
Ok I will cancel the 1st premiere card, I have not gotten it yet it said 7-10 days so should I apply now for the cards you suggested
you can go to capitalone.com and see if you pre-qual for cards... if you get "Congrats" message those are pretty much gauranteed to approve... you could apply for 2 back to back for same credit pulls.
if you don't get any offers you might want to wait little while.

Don't you have to be 21 to receive pre-qual results? I think w/ the title of this "18 year old" combined with him/her saying they just graduated (high school) means that they cannot yet see any results.

Re: 18 year old credit cards approved and denied

Anonymous — Fri, 24 Jul 2015 00:15:45 GMT

@Anonymous wrote:
@Creditaddict wrote:
@Anonymous wrote:
Ok I will cancel the 1st premiere card, I have not gotten it yet it said 7-10 days so should I apply now for the cards you suggested
you can go to capitalone.com and see if you pre-qual for cards... if you get "Congrats" message those are pretty much gauranteed to approve... you could apply for 2 back to back for same credit pulls.
if you don't get any offers you might want to wait little while.
Don't you have to be 21 to receive pre-qual results? I think w/ the title of this "18 year old" combined with him/her saying they just graduated means that they cannot yet see any results.

Yes, you do.

Re: 18 year old credit cards approved and denied

Anonymous — Fri, 24 Jul 2015 00:21:40 GMT

Congrats on your approvals and I agree with the previous poster suggesting you slow your roll. If I could do it all again I would not have applied for any of the store cards I did except for the ones I have now because they were useless pulls and useless cards for me and I ended up closing them. You defenitely need to find out why they couldnt match your address because thats an issue but also I feel like you have had so many inquiries lately that maybe you should just chill with what you have for a while and see how it goes before applying for more. The Cap One Journey or Quiksilver One cards are good capital one cards to have too.

Good luck!

Re: 18 year old credit cards approved and denied

Anonymous — Fri, 24 Jul 2015 00:22:13 GMT

@Anonymous wrote:
Congrats on your approvals and I agree with the previous poster suggesting you slow your roll. If I could do it all again I would not have applied for any of the store cards I did except for the ones I have now because they were useless pulls and useless cards for me and I ended up closing them. You defenitely need to find out why they couldnt match your address because thats an issue but also I feel like you have had so many inquiries lately that maybe you should just chill with what you have for a while and see how it goes before applying for more. The Cap One Journey or Quiksilver One cards are good capital one cards to have too.
Good luck!

Edited to correct spelling (its one of my pet peeves) :-)

Re: 18 year old credit cards approved and denied

Anonymous — Fri, 24 Jul 2015 00:23:15 GMT

Thank you for the advise so what trade lines should I be working on. My mom taught me how to budget very well. She has 35 credit cards and dont use all of them and when she do its for gas, or small things etc. I manage all my bank accounts since I was 16 years old. I work and only buy things I need for school and small stuff for me and that's it. All my cards are prepaid prior to getting these now. My mom grilled me about what would happen if I mess up my credit at a young age because it happen to her when she first went to college, was in debt by the age of 23 but she spend and chargged her cards and it destroyed her credit and she started over again.

Re: 18 year old credit cards approved and denied

Anonymous — Fri, 24 Jul 2015 00:24:15 GMT

Yes I am proof

Re: 18 year old credit cards approved and denied

Anonymous — Fri, 24 Jul 2015 00:27:00 GMT

So since I am not 21 should I apply for this card or not. I already started college I didnt want to wait for the fall to start. I want to graduate early

Re: 18 year old credit cards approved and denied

Anonymous — Fri, 24 Jul 2015 00:28:27 GMT

@Anonymous wrote:
Thank you for the advise so what trade lines should I be working on. My mom taught me how to budget very well. She has 35 credit cards and dont use all of them and when she do its for gas, or small things etc. I manage all my bank accounts since I was 16 years old. I work and only buy things I need for school and small stuff for me and that's it. All my cards are prepaid prior to getting these now. My mom grilled me about what would happen if I mess up my credit at a young age because it happen to her when she first went to college, was in debt by the age of 23 but she spend and chargged her cards and it destroyed her credit and she started over again.

Your Mom rocks!

Re: 18 year old credit cards approved and denied

Anonymous — Fri, 24 Jul 2015 00:30:19 GMT

Ok because for my inquiries its only showing 2 on all my credit reporst and that's nord. and discover. Macy, 1st premiere bank, target, and 1st national bank, At&T are not showing up as inquiries on any of my reports