Can't Get any credit cards.

Anonymous · ‎10-21-2015

Just found this forum.

I have been working on my husbands and I credit score. We started around 520 and now I am above 600 on all 3 CRAs. They are around 620-630. I have subscibed to myFico, Equifax, Transunion, Experian and CreditKarma to keep an update. I have no mortgage and no credit cards, 1 inquiry in past year. Only 3 auto loans, 1 of which is me co-signing for my daught. All places keep saying I need a credit card (Revolving Account). SO today I decided to try. First....Barclays Rewards. Said they need to take a few days and let me know. Then tried Capital One.....same thing. Obviouly I guess they are denials. Any suggestions, how can I improve if no one will give me a chance.

Creditaddict · ‎10-21-2015

@Anonymous wrote:
Just found this forum.

I have been working on my husbands and I credit score. We started around 520 and now I am above 600 on all 3 CRAs. They are around 620-630. I have subscibed to myFico, Equifax, Transunion, Experian and CreditKarma to keep an update. I have no mortgage and no credit cards, 1 inquiry in past year. Only 3 auto loans, 1 of which is me co-signing for my daught. All places keep saying I need a credit card (Revolving Account). SO today I decided to try. First....Barclays Rewards. Said they need to take a few days and let me know. Then tried Capital One.....same thing. Obviouly I guess they are denials. Any suggestions, how can I improve if no one will give me a chance.

for Barclay - call 866-408-4064 and ask them to review application and reconsider if denied.

jacetx · ‎10-21-2015

Have you tried Discover? Some people say that they seem to like thin credit files. Also, there is the promotion to double the cashback.

fishbjc · ‎10-21-2015

You may have to begin with a prepaid credit card. Find one that will 'graduate' to a regular card after one year.

A credit union perhaps. You need to begin with 'starter cards'. Do your research so you don't blow inquiries. No sense in that. Barclay isn't known to like thin files and your scores are still a bit low.

fishbjc · ‎10-21-2015

Discover isn't thrilled with files that have no credit cards. Don't blow an inquiry here.

jacetx · ‎10-21-2015

@fishbjc wrote:
You may have to begin with a prepaid credit card. Find one that will 'graduate' to a regular card after one year.

Did you mean secured? Also, doesn't Discover have a secured card that they counter with?

Anonymous · ‎10-21-2015

Secured credit cards have the same effect as unsecured ones for scoring purposes. Just get some secured cards if you have to. Let them age, then you will have a much better chance at unsecured. What negatives are on your credit report? Capital One is generally fairly lenient, so it makes me curious as to which CapOne card you applied for. Have you tried checking any websites to see if you were prequalified?

Anonymous · ‎10-21-2015

I just spoke with Capital One, they are still processing due to a Fraud alert on my credit file. I was informed they have to call me first.

Creditaddict · ‎10-21-2015

@Anonymous wrote:
I just spoke with Capital One, they are still processing due to a Fraud alert on my credit file. I was informed they have to call me first.

oh, never a good idea to apply for credit with fraud alerts on credit... really slows things down... call that number I listed above for Barclay and it's probably same thing and maybe they can do it all while your on the phone.

Anonymous · ‎10-21-2015

I vote Secured Card. Capital One, Citi, Bank of America, Discover may counter with a secured option if denied, USBank, OpenSky. Unless member of Credit Union.

Next up, installment loan. "Secured Loan"