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Alright im a 18 year old full time college student witha decent part time job and NO CREDIT HISTORY.
Today i applied for 3 crtedit cards which were:
Capital one secured
Asotria fed. secured
Citi thank you card for college students
So far i got instantly declined for the Citi and Capital One cards. The astoria one asked me to wait 2-4 weeks for a written response decision via the mail.
Right now all i want is a credit card to start building my credit so that ina couple of years I can take out a small car loan with a small interest rate.
Should i keep applying? Should I try a specific card? Should I ask to become a authorized user on my parents cc?
I know i hurt my score a little today from applying but i know its possible to obtaina cc at my age casue a freind of mine has a secured card in his name.
Check CreditOne prequal site at creditonebank.com. On the right hand site Second link from the top says "Get Pre-Qualified"
This is a soft check on your credit report, and it is unsecure. Granted, the fees can be higher than normal, but it is a start.
Hope that helps
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@Anonymous wrote:Alright im a 18 year old full time college student witha decent part time job and NO CREDIT HISTORY.
Today i applied for 3 crtedit cards which were:
Capital one secured
Asotria fed. secured
Citi thank you card for college students
So far i got instantly declined for the Citi and Capital One cards. The astoria one asked me to wait 2-4 weeks for a written response decision via the mail.
Right now all i want is a credit card to start building my credit so that ina couple of years I can take out a small car loan with a small interest rate.
Should i keep applying? Should I try a specific card? Should I ask to become a authorized user on my parents cc?
I know i hurt my score a little today from applying but i know its possible to obtaina cc at my age casue a freind of mine has a secured card in his name.
^^^
You have a clean credit record since you do not have any history so I would skip the secured and go with the cards aimed at college students. Not sure why you are having a hard time, when I was a student there were many college credit cards for students and got approved. Perhaps underwriting is tougher nowadays. Do you have student loans and if so, they are paid on time etc? Or do you really mean nothing appears on your credit report since you have never had any type of loan?
No loans whatsoever. Im currently going to a community college so it's not costing me too much. So i really dont have any history. So basiclly I can keep applying and it wont affect me?
Well, step one before you go applying for more cards is to pull all 3 credit reports and make sure there is no derogatory stuff on it. You never know if your information was used by someone else; strangers, friends or family for credit without your consent or knowledge. You definitely should get your reports so you're 100% sure nothing is on them and you're not wasting inquiries without fixing prior problems beforehand.
This site is where you can get all 3 once a year for free: https://www.annualcreditreport.com/index.action
I am interested in knowing what you find because I too started college, at the age of 31 (late bloomer) and started out with no revolving credit, though I had some collections. I would love to hear you update your progress as I am already tracking other people in a similar position to see where I land when I can finally get a FICO score.
I know you said 'NO CREDIT HISTORY' but is that because you checked all 3 of your reports? Thanks and welcome to MyFICO! Everyone around here has been very good to me and I am sure they will be to you too; my (F)riends (I)n (C)redit (O)nline! ![]()
- E
@Anonymous wrote:No loans whatsoever. Im currently going to a community college so it's not costing me too much. So i really dont have any history. So basiclly I can keep applying and it wont affect me?
^^^
You have a social security number and banks use that to pull your report so it shows hard pulls on your credit report, so you now have a hisotry of pulls that indicate you are seeking credit. So those hard pulls will definitely affect your credit report but I would not worry about it just yet since you are trying to establish credit. Given you have tried and been rejected a few times for credit cards, I would suggest to be an authorized user off of someone else's account first to build your report that way as it'll appear and then 6 months later of on time payments, apply for a student card again, perhaps citi student credit card. If you do not want to apply as an auth user account, then try Discover card next for students.
I was only able to check 1 out of the 3 reports becasue i couldnt enter the security questions but out of the one i checked the only things i saw was the 3 credit inquires from today. I tried to get my score from credit karma but want able to due to no history.
@Anonymous wrote:I was only able to check 1 out of the 3 reports becasue i couldnt enter the security questions but out of the one i checked the only things i saw was the 3 credit inquires from today. I tried to get my score from credit karma but want able to due to no history.
Well that is certainly good news. Do you have a Checking and Savings account? I know having one helped me get a Secured Card from Wells Fargo. Because prior to applying I had 4-5 collections on each report and 0 revolving credit history on my reports for the last 7.5 years. There are a couple of secured cards you can get without a hard inquiry. I believe State Department Federal Credit Union and Open Sky Secured Visa are two of them. There may be more that I am unaware of.
I am sorry Capital One turned you down because they really are one of the companies that help out individuals like yourself. What were the reasons for Capital One and Citi rejecting you? You know you could probably call them for a reconsideration as well. You have nothing to lose by doing this and then you could talk to an analyst directly and ask them how you can get their card in the future if the reconsideration does not work out. Don't give up hope yet ![]()
It is highly possible Citi may just want to confirm personal information as well as have you fax an acceptance letter or your school schedule to them. If I have time later after work I'll try and drop by again and edit this post to add in the numbers for Capital One and Citi Recons.
i currently haver a checking account with astoria so im hoping they will approve me. As for right now capital one's online support had told me they couldt give me a rease on why i was declined until I get the letter in the mail. I am definatley gong to call up all 3 for recon. once i get they letter in the mail. As for the skycard is it easy to get apporved for?
I was approved for a captial one secure credit card, I had to pay a $99 despoit.