How can I apply for a credit card?

4 Comment(s)

1. Try getting a prepaid credit card. You have to pay some money into the card before you charge so they don’t have any risk of loss with you. You could also try a store credit card, they are more lax with credit requirements.

   AB | Jun 28, 2009 | Reply

2. Well, I don’t know if you would be able to get a card before Christmas…

   But here’s what worked for me, having had no credit history whatsoever:
   Check out creditcards.com or similar sites. They let you search and compare all kinds of different cards, for example by your credit quality (see left column). I ended up getting a card from capital one. On their site, you can also “build” your card, depending on your credit, interest, etc. They usually tell whether you’ve been approved or not right away. (If you have a checking account and a somewhat steady income, you probably will, I think)

   If all else fails, you could get a “secured credit card” in order to build up a credit history. They are offered by many banks/credit card companies, or check with a local credit union. They are, however, not prepaid credit cards; those do not have any effect on your credit score, because they are not being reported to the credit bureaus. Store card is theoretically good, but then you are bound to this one store, and it is not a given that they will report, depending on the kind of card they offer.

   Either way, make sure you check and compare rates, fees, etc. very carefully. Some cards, for example, who offer rewards or cashback usually charge an annual fee, which you should weigh up against the value of the rewards. A lot of time they are not worth it, in my opinion. One thing you have to be aware of is that having no credit history or bad credit means high interest rates. So it is imperative to pay your balance monthly and on time. Otherwise you’ll end up with baaad credit and a loooot of debt because of the compounded interest. And, trust you me, NO Christmas present is worth ending up paying double and tripple its original price over months to come.

   Finally, make sure you don’t apply for credit cards too often (60 days +), because that in itself can reflect negatively on you credit quality.

   Phew, that was a lot of information… But I had to read up on all this just recently.

   marieclaire | Jun 30, 2009 | Reply

3. The reason you are not getting approve is because you must be applying for cards that require some credit history which sounds like you don’t have, make sure you apply for a card like orchard that will get you approve, use this card for a few months just to build a little bit of credit, once you have build some credit apply for a better card and drop this one, check out under poor or no credit section and you will find a couple of cards that will get you approved.

   Brutus | Jul 2, 2009 | Reply

4. I have signed up for a prepaid card at apell-link.com they have various type of credit cards to the site. I like Baby Phat Prepaid Visa. you should try it too.

   Baby Phat Prepaid Visa

   * Show your style with the Baby Phat RushCard
   * Use anywhere Visa debit cards are accepted—in stores, on the internet, and over the phone
   * Simple and reasonable— No monthly, annual, or hidden fees
   * Free money loading with direct deposit and free 24×7 customer service
   * Everyone is eligible—no credit check or employment verification
   * Quick, easy application—no monthly fee
   * Helps control debt—you can’t overspend!

   Sharib A | Jul 2, 2009 | Reply

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