topic Re: I guess I'm doomed to go through life credit-less in Rebuilding Your Credit

I guess I'm doomed to go through life credit-less

Anonymous — Fri, 26 Apr 2013 21:42:42 GMT

I've been a full member of USAA for 10 years. I applied for their secured card, putting 2500 toward the cd. I was denied. Ive tried for other secure and non secured cards with no luck.

I've been trying to get a card for ten years now. Nothing. I have no lates, no judgements, no bankruptcy, no foreclosures or repos. I own my home outright. I do have a car loan just to have something on my credit report. I can't even get store cards.

I was wanting to go on a european vacation with friends this summer but all I have are two debit cards. My credit union wont extend a credit card to me either. Im too embarrassed to tell my friends I have no credit cards. I've made work excuses as to why I can't go but it's really humiliating to know that some of these same friends have defaulted on loans and had bankruptcies and still have a ton of credit cards while I've tried to do the right thing and no one will give me any credit outside of car loans.

I pulled my credit report and I just have my current car loan on there. It's in good standing. I've had it almost 4 years with no late payments. My last car loan was the same, its fixing to fall off my report though. I'm just so depressed. I work hard. I have checking and savings accounts. I pay my bills on time and its just not good enough. So I'll watch my friends on another summer vacation go by. I guess I'll never be able to get any sort of credit beyond car loans.

I just wanted to commiserate. I guess I'm feeling sorry for myself.

Re: I guess I'm doomed to go through life credit-less

Countingpennies — Fri, 26 Apr 2013 21:58:19 GMT

Hi Nicoles, I don't think you are doomed. I'm sure the experts will be along soon with some helpful advice. Do you know what your scores are? They may have been in your denial letters, and what were the reasons that you were given?

Also, what other cards have you applied for recently? Have you tried for a Capital One secured?

Re: I guess I'm doomed to go through life credit-less

Anonymous — Fri, 26 Apr 2013 22:09:45 GMT

What were the reasons for denial?

If you simply have no credit other than an auto loan, you may need to start with subprime cards at least to get your foot in the door.

Re: I guess I'm doomed to go through life credit-less

Anonymous — Fri, 26 Apr 2013 22:09:56 GMT

Lack of credit is always the reason. Which is ironic. Yes, I tried for the cap 1 secured about 3 months ago. Denied. My credit scores were 675 and 680 at that time.

Bank of America secured card, Citibank secured card. Pretty much all of the secured cards out there. I just knew I was a shoe-in for USAA secured card. I'm a veteran, I've been a full member through them for years. I put up 2500 for the secured card cd. So getting that denial letter from them about their secured card was a definite sting.

I've just given up honestly.

Re: I guess I'm doomed to go through life credit-less

Anonymous — Fri, 26 Apr 2013 22:13:35 GMT

Have you looked into NFCU? They are better with extending credit than USAA.

Re: I guess I'm doomed to go through life credit-less

HisFirstLady — Fri, 26 Apr 2013 23:01:03 GMT

I agree try NFCU

Re: I guess I'm doomed to go through life credit-less

Jutz — Fri, 26 Apr 2013 23:06:41 GMT

There has to be something more at play than lack of credit history. And I'm not saying you're not telling us the whole story, I just think there's some backend issue that is keeping you from these approvals. People with no credit get offers all the time; for decent cards too (Discover IT Student comes to mind). What about the Cash Rewards for Newcomers?

You need to speak with the backdoor underwriting reps. They will have more info. If you already have, is that the only info they gave you?

Re: I guess I'm doomed to go through life credit-less

rebuildingmission2013 — Sat, 27 Apr 2013 00:40:34 GMT

you may want to try the shopping cart trick if you shop at any of the stores that do soft pulls for preapprovals to build credit. Also there exists other secured cards like Applied Bank or First Progress that you can try.

Re: I guess I'm doomed to go through life credit-less

Jon85 — Sat, 27 Apr 2013 00:53:36 GMT

I've heard some good things about the Open Sky secured credit card--they don't do a credit check but report monthly to all three.

What about First Premier? I know they're expensive, but at least to get your foot in the door they will be good.

Re: I guess I'm doomed to go through life credit-less

Anonymous — Sat, 27 Apr 2013 16:23:14 GMT

I agree with calling in after you recieve a denial. I just got the Target RedCard and it declined me online (gave me the whole "we will send you an notice in the mail" thing) so I called and they just had to verify some info and I was approved.

Re: I guess I'm doomed to go through life credit-less

new_earth — Sat, 27 Apr 2013 17:32:11 GMT

@Jon85 wrote:
I've heard some good things about the Open Sky secured credit card--they don't do a credit check but report monthly to all three.

What about First Premier? I know they're expensive, but at least to get your foot in the door they will be good.

I agree with that one. It was the only unsecured card I could get, not even Credit One would accept me. Also no normal banks would even approve me for secured.

For FP It stinks to pay the $95 processing fee and $75 annual fee but I am so glad I got it. If I hadn't, I would not have then been able to get my Macy's or Bloomingdale's since they require you to input credit card info when you apply.

If you get an FP card, from the experiences I have heard, they are good to rebuild if you do it VERY CAREFULLY. Only charge small amounts for things you would normally need anyway (gas, food, etc) and pay it off in FULL. And most people cancel before the full 1 year month to avoid the monthly fee, and at that point most people have been approved for much better cards. You also have the shopping cart trick option, look it up you'll see.

Re: I guess I'm doomed to go through life credit-less

madmann26 — Sat, 27 Apr 2013 19:52:22 GMT

No credit is worse then bad credit. Try NFCU. I was able to get a secured card in August 2012. In December 2012 I was approved for an unsecured card with a 3k limit. Early this month I took a HP for a 1k increase. Last week that card went to 10k.

And my scores are lower then yours.

Re: I guess I'm doomed to go through life credit-less

dodfire — Sat, 27 Apr 2013 19:57:23 GMT

Can you get a family member to add you as an AU on one of their cards?

Re: I guess I'm doomed to go through life credit-less

Anonymous — Sat, 27 Apr 2013 23:04:41 GMT

I added my wife who had no credit to one of my cards with no derogs and a week later she had a credit score in the high 700s. It might work if become an AU.

Re: I guess I'm doomed to go through life credit-less

Anonymous — Thu, 08 Aug 2013 03:59:23 GMT

Try PNC bank they have a secured card. You have to go into the bank to apply. They do not check your credit. I got approved and my credit was bad.

Re: I guess I'm doomed to go through life credit-less

Leadberry — Thu, 08 Aug 2013 04:13:37 GMT

+1 with the AU suggestion. If you have any family members or close friends who you think might add you to an old account in good standing, that is the absolute easiest way to pave the road to obtaining your own credit cards.

Ironic isn't it? They tell you you can't have any credit cards because you don't have any credit cards. Well, how is one supposed to start if nobody will let them? Don't worry, you're not alone in that regard.

And, like others have said, NFCU is much more generous with credit than USAA is.

Edit: grammatical errors. T_T

Re: I guess I'm doomed to go through life credit-less

sumthin28 — Thu, 08 Aug 2013 16:53:31 GMT

Just to add my 2 cents, I think starting off with a 2500$ secured card might be your problem. Even though it is your money you would be borrowing from it's easier to get a 500 or 1000$ secured card to start.

Re: I guess I'm doomed to go through life credit-less

VLGaffEsq — Thu, 08 Aug 2013 17:00:05 GMT

I agree with Jon85's comment. Go to www.openskycc.com and apply for their secured credit card = Acceptance is guaranteed, and no credit credit check to get his card. If you put down $2,500 or $400 into their savings account, that becomes your credit limit. I have been a happy customer with them for almost two years, and they report to all three credit bureaus, and they have been helping me rebuild my credit score (up to 610). Try them!