I have literally no idea what Im doing

[Anonymous]

I am 33 years old with no credit score. Literally, theres nothing. No open accounts, no collections, no payment history, no cc's, no loans, etc......I decided that I needed a credit score so I applied for an embarrassing number of credit cards and was turned down for EVERY SINGLE ONE. From a JCPenney card to Saphire and everywhere in between. Nothing. If you count Ebay as a job, then I have one. Im a new seller (about 2 months) but have been fairly successful considering my circumstances. Im hoping that maybe one of you out there will be able to tell me what if anything I can do to build some credit (a secured card isnt really an option for me at the moment as all my profits have went back into more products to sell) Is a small business loan or Business Acct a possibility for someone like me? Is there anything anywhere? Should I call recon lines for the cards I was denied for? Im in over my head and stressed out, I think I can really make my business idea work but kinda need some funding.....but with no credit and a brand new "business" I just dont know. Help? Please?

[Anonymous]

You need to stop applying. Start with secured card and work 6 months then apply 2nd secured or non secured, then wait one year then you will start see doors opening up for you. This is the only way to get credit.

[Anonymous]

The quickest way would be finding a family member and add you as an AU and that would at elast get you a CS to actually get somewhere.  Preferably a long time CC, no balance, and clean history.

Once you have some scores then come back and post those w/ your app history and inquiries from those apps on which CR they're on and we can go from there.

[Anonymous]

Being an AU will help establish at least something in my credit file? And would that be a better route than a secured card? Obviously both would probably be best but If I had to choose a secured card or AU which one? My Grandmother would more than likely put me on her account or fund a small secured card, I hate to ask her to do both. Maybe if Im nice to my brother.......I hate asking for help.

[Anonymous]

I have stopped.....I didnt know that it was bad to keep applying. I dont know how I was so ignorant to all of this.

[Anonymous]

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@Anonymous wrote:
Being an AU will help establish at least something in my credit file? And would that be a better route than a secured card? Obviously both would probably be best but If I had to choose a secured card or AU which one? My Grandmother would more than likely put me on her account or fund a small secured card, I hate to ask her to do both. Maybe if Im nice to my brother.......I hate asking for help.

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If you go the AU route you can run the pre-approval sites before going and dealing with the secured cards.  If you don't get results w/ a Score and Pre-approval sites then it's off to the races on picking the best secured options and coming up with the cash for a decent limit to get things rolling quicker than just doing the typical $200 deposit.

[Viva-LV]

You might open an account with BOA, and apply for a secured credit card.  Good luck

[Anonymous]

My only suggestion is, if you do have to get a secured card, def make sure it will graduate like discover, if you have military affliation NFCU would treat you really well.

[Anonymous]

Another thing I wanted to ask........is it maybe a possiblity that Ive been denied because of some Identity verification issue? The reason I ask is because I was approved for $3000 for Verizon and went all the way through the process and had to contact their fraud prevention team and even with the proper documentation I was denied by the fraud dept. even though my credit was approved. I had 1 other online finacing company tell me tbey couldnt verify my identy too and the decision was final. Would the things I applied for tell me if it was an identity issue? I beleive the letters mostly all said the same things.....lack of credit history and too many inquiries. But the identity thing has me a little perplexed.

[Anonymous]

you have ZERO credit to do a check off of.  There's barely a file there w/ more than your name and SSN.  That bare minimum was probably created when you first applied and they submitted it to the CRA's.  Get the AU reporting to the CRA's and it will generate and populate all of the info to build your file.  Otherwise the secured route if even approved...Why they need to approve a security deposit is beyond me but, anyway it will take at least 6 months of use to generate a score.  AU accounts can do the same in days after being added.