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No credit history, having trouble getting approved.

Yvr
New Visitor
New Visitor

No credit history, having trouble getting approved.

As the title says, I have 0 credit history. I've recently been trying to begin building my credit but no one will approve me for credit. So far I have applied for, and been rejected, 3 cards over the past ~month or so.

 

1. Chase Sapphire(Chase is my bank of 5 years, so I started there.)

2. Amazon Store card

3. Wells Fargo Secured card.

 

The first two I was turned down for on the basis of lack of credit history, the last I am still waiting for more information on. Now I'm hesitant to attempt applying for credit anywhere else and taking more credit hits for applications, so what are my next steps here?

 

Thanks in advance

Message 1 of 6
5 REPLIES 5
taxi818
Super Contributor

Re: No credit history, having trouble getting approved.

First thing first. and listen loud and clear.

STOP APPLING>!!!!!

alright. calm down and take a breath. you came to the right. place.

if you were a bank and someone unknown came in and said. loan me 500 dollars would you.

no.

same with credit.

you have to think it over.

i don't know you. but i can look at your record to see if you paid the last guy back. if so. maybe i can trust you.

same in credit.

You can't jump to the elite cards off the bat. you have to crawl before you walk and walk before you can run.

so first thing first. you came to right place to get the help you need.

Do you have bank account?

checking and savings.?

hoping you have a job. ?

any job. does not matter what. as long as you got income.

The first think you need to do. at your bank. or go to a local credit union. is set up a secured credit card.

As this is the easiest way to establish yourself. or go to capital one .com and app for secured card.

As they will only want 49 dollars for 200 dollat card a 150 dollar test. for you. to see if you will pay it back and use responsible.

after you got your secured card. use it for 6 months  pay always ontime. never be late with payment. and  don't max it out.

after that 6 month period. you can beleive me. they will be calling you and mailing you. you will not have to worry. you will be able to get what you want.

Good luck. come back if you need help.

Message 2 of 6
Yvr
New Visitor
New Visitor

Re: No credit history, having trouble getting approved.

I'm not sure if you read my post. But to break it down-

I am employed, I do have a bank, and I was already turned down for a secured credit card.

Message 3 of 6
takeshi74
Senior Contributor

Re: No credit history, having trouble getting approved.

No history shouldn't be surprising as an issue since payment history is a major factor:

http://www.myfico.com/crediteducation/whatsinyourscore.aspx

 

Definitely stop applying.  Racking up inquiries with no history will just dig you a deeper hole as it makes you seem desparate for credit (a red flag) and inquiries tend to have a bigger impact on those with thinner profiles.

 

The standard recommendation for people with no history or rebuilding and are having problems getting approved for unsecured cards is to look into secured cards and/or credit unions with more lax approval criteria.

 


@Yvr wrote:

I was already turned down for a secured credit card.


Secured cards aren't all the same so you can't assume that not getting a particular one means that you can't get any of them.

 

I don't have the info off the top of my head but you may want to look at prior threads on secured cards as this is a relatively common topic.  If the search function here isn't working for you then try a site restricted Google search.  To search this site you'd just add "site:ficoforums.myfico.com" (without the double quotes) to your keywords.

 

Here's a link to a site restricted search on secured cards (with "no credit check" as added keywords) for myFICO Forums:

https://www.google.com/webhp?sourceid=chrome-instant&ion=1&espv=2&es_th=1&ie=UTF-8#q=secured+card+%2...

 


@Yvr wrote:

I'm not sure if you read my post. But to break it down-


I don't see where your original post addressed the questions that were raised.  At the time you made the post you were waiting on information on the secured card application.  We only know what you tell us.

Message 4 of 6
taxi818
Super Contributor

Re: No credit history, having trouble getting approved.

Exactly. Are you saying you spied for more than 1 secured card. In fact. My credit union does not even pull credit period to get secured card. And many others as well. Simply go to closest credit union to your home. Make sure you can join. And ask. It's not hard. But nothing is just handed to you. Without any credit cards. Your score will never get better. Good luck.
Message 5 of 6
coldnmn
Mega Contributor

Re: No credit history, having trouble getting approved.

If your unable to get a credit card I recommend SDFCU link below. They don't pull a credit report but will report to all three credit bureaus. The down side is they wont unsecure the card but with 6 months of use you should be able to get another credit card to help your credit journey.

 

https://www.sdfcu.org/emv-creditcards

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Message 6 of 6
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