michelle asked:
i just got denied for a citi mtvu student credit card for no credit history. should i try for a discover student credit card now?dose it matter if i have a saving/checking account or not? or should i go for a prepaid credit card?
http://1mortgagecalculator.info
i just got denied for a citi mtvu student credit card for no credit history. should i try for a discover student credit card now?dose it matter if i have a saving/checking account or not? or should i go for a prepaid credit card?
http://1mortgagecalculator.info
Each time you apply for a credit card, your score will go Down. Don’t keep applying hoping to get one.
I would go for a prepaid card.
the best places to establish credit are home/appliance store cards and retail accounts. sounds scary, but if you use them responsibly you can build your credit and then get a discover or MC.
You will be denied at Discover as well. I have a checking and savings account, but no credit history, and that was exactly what I was denied for when I applied for the discover student credit card: “insufficient credit history.” Try Visa, or applying for a department store credit card first, to build some credit
In order to create a “credit history” you might want to consider putting a bill in your name. For example, put your cell phone in your name, or a power bill or a util,ity bill. After you make a few payments, consider reapplying. But yes, everytime you apply your credit score will go down. Ask yourself, how important is it that you have a credit card and why?
No. Neither.
1. You should not try for any card now. After any applying for any card, whether you are approved or denied, you should wait more than 12 months before trying again or trying for any other card. Applying less than 1 year after your last attempt makes it more likely that you will be denied.
2. For your first credit card when you have no credit history, you should deposit money at a bank that offers “secured” credit cards to depositors with no credit history and then obtain a “secured” credit card from that bank. This is now the best way, and possibly the only way, to obtain a credit history when you do not already have one. A prepaid credit card will not give you a credit history. A “secured” credit card will and you do not need a credit history to obtain a “secured” credit card.
0% APR (for 12 months) credit card offer from Bank of America
0% Balance transfer for 12 months
No annual fee
Standard APR: 8.24% – 18.24%
or
If you’d rather apply by phone, just call 866-438-6262
Priority code: UAAJVY
IBO reference number: 5549488
Citizen:Yes
Status:Employed (150K + 60K)
I would try Capital One. They issued me my first card when I was 15(lied about my B-day) and gave me a $750 credit limit. However they did close my account due to me opting out of an interest rate change.
And you don’t always have to get a secured card your first time around. I have never had a secured card and I’m 18 now and have a $4100 limit with Chase and $3500 with Buckle(WFNNB). Chase gave me an automatic on my 3rd year being with them, and WFNNB issued me $3500 the first time around in Mar of this year.
If you do get a card, don’t hold a balance on it. And if you do, hold 30% or less of your available credit limit.