topic Re: Building Credit! in Credit Cards

Building Credit!

Anonymous — Mon, 06 May 2013 19:41:15 GMT

Hello everyone! I recently turned 18 and want to build my credit. I'm a full time student at a community college and have a part time job. I foolishly applied for a Discover It student card and was denied for having no credit history. Does anyone have any reccomendtions to build my credit?

Re: Building Credit!

vish1 — Mon, 06 May 2013 19:44:37 GMT

@Anonymous wrote:
Hello everyone! I recently turned 18 and want to build my credit. I'm a full time student at a community college and have a part time job. I foolishly applied for a Discover It student card and was denied for having no credit history. Does anyone have any reccomendtions to build my credit?

I will look at some other student card say cap 1 etc. If that pans out perfect else get a secured card. 3 months down the line get a GECRB card like JC Penney. From there wait for an year and you will be in prime land.

Re: Building Credit!

Hubcapjw — Mon, 06 May 2013 19:46:58 GMT

Check out capital 1. They have a pre approval process on their site which is not a hard pull and if u don't qualify for an unsecured card their secured is an option and is very low in fees. I've had no problems w them so far. Their phone app is good and u can pay the bill thru the app daily, weekly, or monthly. Use the card wisely meaning don't run up $200 in charges when ur limit is $200.

Re: Building Credit!

Anonymous — Mon, 06 May 2013 19:49:18 GMT

You should recon for the Discover it.

I can't understand the reasoning behind the so called "student" cards if students are the ones getting denied due to a limited credit history.

My brother applied for the citi forward card for college students and he was able to recon an approval of $500 after getting a denial.

Re: Building Credit!

Tommy5746 — Mon, 06 May 2013 19:51:20 GMT

Trying to get a card with a big enough CL to to buy that Lambo, huh? Haha i kid i kid! In all seriousness, i would try Capital One as others have suggested.. and even try doing a recon for Discover!

Re: Building Credit!

Anonymous — Mon, 06 May 2013 19:57:23 GMT

Thanks for the replies everyone! I will definitley check out Capital One. Is it better to go the secured or unsecured route in my situation? Also how exactly do I recon Discove'rs decision?

Re: Building Credit!

Anonymous — Mon, 06 May 2013 20:07:04 GMT

Check the back door posting for discover's number.

Market yourself. Play to your strengths.

Re: Building Credit!

Hubcapjw — Mon, 06 May 2013 20:15:29 GMT

Cap 1 will tell u which card u prequalify for on their website! The cap 1 secured card reports as a normal card so its not a big deal! Stay away from subprime cards that charge crazy fees! Stick with well-known banks unless ur credit is in the tank.

Re: Building Credit!

boomhower — Mon, 06 May 2013 20:39:52 GMT

@Anonymous wrote:
Thanks for the replies everyone! I will definitley check out Capital One. Is it better to go the secured or unsecured route in my situation? Also how exactly do I recon Discove'rs decision?

Just call discover and tell them you'd like your app reconsidered. If need be ask to be transfered to a credit analyst or underwriter. Look around here and see if they have a backdoor number, not sure if they do.

If you can get an unsecured capone that would be an option. If you have a local CU I'd check there for a secured card. That would start a relationship with a local credit union that will benefit much more over the years than a secured card with capone. Bank of America and Wells Fargo both offer secured cards that eventually unsecure. But they may not be the best option with no credit history. I'd strongly suggest going with a credit untion of some type.

Re: Building Credit!

Anonymous — Mon, 06 May 2013 20:58:35 GMT

Thanks for everyone's advice! I attempted to get a recon with discover, but was unsuccessful. The representative explained to me that I don't have any credit history and to try again in six months. I'm going to keep trying and consider capital one. I also have a checking account with PNC. Should I apply for a card with them?

Re: Building Credit!

Anonymous — Wed, 08 May 2013 15:45:41 GMT

Definitely. If that doesn't work out, get a secured card and garden for 6 months and then try again.

Re: Building Credit!

rex_03 — Wed, 08 May 2013 16:05:50 GMT

Look into a store card. Walmart store card is GEMB, and a good way to start a relationship with them. As mentioned Capitol one too.