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New Laws - Credit Card with No Credit

Frequent Contributor

New Laws - Credit Card with No Credit

My girlfriend (who is over 21) has been trying to get a credit card. She has no credit at all (and nothing negative either) and was declined from a Citi Student Visa as well as a Visa through her bank (which she has a 5 year history). She has a good amount of income. I'm imagining it's these new laws that are making it so hard (I had no problem getting a Citi Student Visa with no credit or income). What is the next thing to try? I know she doesn't want to keep applying and getting denied because that looks bad on your report.

Message 1 of 5

Re: New Laws - Credit Card with No Credit

A few years ago when the CU I had 2 accounts with denied me a Secured CC, I went to Bank of America.  I didnt have any problem getting approved, I made all my payments on time, and in nine months went unsecured. I had extremely poor credit. So, in my experience, BOFA as been an asset to me.

I hear Orchard Bank is an ok rebuilder card. Im new to all of this, so more experienced people may chime in with better advice. Good luck!

03/12/14 Fico 698 EXP

Message 2 of 5
Senior Contributor

Re: New Laws - Credit Card with No Credit

She probably has to start with a secured card (IMO preferably 2), and then it she treats it well, she should have good credit.


It is best to put down as large a deposit as one can afford so you have a decent limt for use without getting close to the limit.  


Do a litle research before you do you next applicaion.  I like 


1.  CITI has a nice secured where the money goes into 18 month CD,  AF $29.   Deposit is fixed for 18 months.


2.  Capital One has new secured card for young adults where you can get unsecured CLI with good use,  AF $24   Can easily add to deposit along the way.


Others with good securd cards include

Wells Fargo

US Bank




Also check out your local credit unions, they often are very good with new people starting out. 






Message 3 of 5
Frequent Contributor

Re: New Laws - Credit Card with No Credit

If you can join NFCU I would get their secured card. It reports as an unsecured if I remember everything right

Message 4 of 5
Frequent Contributor

Re: New Laws - Credit Card with No Credit

Also you can ask somebody to add you as an AU to his cards with good history and get  like a store card, local CU card, overdraft protection at your local bank. Hope this helps

Message 5 of 5