#1
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I cant get a credit card
This is fairly basic stuff and I almost posted it in OOT but I guess this is the right place for it.
Im 25, and Ive never had any credit cards or loans. I tried to get a credit card for the first time recently and neither my bank (WAMU) nor Target would give me one. No reason was given in either case. I can only assume its because I have no credit history. This is [censored] ridiculous. I hate the idea of credit anyway and basically only want this so that I can rent cars and establish enough credit to buy a house at some point. Is there an easy avenue available to me? Id really rather not have to deal with secured credit cards (which my bank doesnt even have yet) or jumping through stupid hoops with unnecessary loans. Because I play poker some of the details I fill out on the forms are open to a bit of interpretation. Would it help me more if I made more or less money a year? Would it help me more if I was employed, unemployed, or a student? Any help anyone can give me would be great. I cant believe I have to go to all of this effort just to let these companies screw me out of money. Oh, one final question. Is there a painless way to look up my credit score online? The first sight I looked at was taking way too much information and also required a credit card that they "wouldnt charge during the trial period". Thanks |
#2
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Re: I cant get a credit card
Apply for a secured credit card with American Express. Send them a check for 200 bucks and spend it. It is a way to build your credit. Be careful about applying for too many, as this effects your credit negatively.
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#3
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Re: I cant get a credit card
My first credit card was an American Express Gold card that I applied for while in grad school.
Credit card companies love students. They figure they can get you hooked to credit while you're still too stupid to realize how addictive and dangerous it is. Does anyone remember the old Seinfeld Amex commercials? One of their selling points was that you didn't have to worry about credit card debt. They neglected to mention that the only reason for that is because you didn't have the option of stretching out your payments. You had to pay the entire balance every month. If that isn't an insult to the intelligence of the consumer, I don't know what is. Sadly, a lot of people fell for it. |
#4
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Re: I cant get a credit card
[ QUOTE ] Apply for a secured credit card with American Express. Send them a check for 200 bucks and spend it. It is a way to build your credit. Be careful about applying for too many, as this effects your credit negatively. [/ QUOTE ] [ QUOTE ] Id really rather not have to deal with secured credit cards [/ QUOTE ] The secured credit card thing seems ridiculous to me. Ive been using my debit card at my bank for 7 or 8 years now, I dont know how that doesnt serve the same function as a secured credit card. |
#5
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Re: I cant get a credit card
If they turn you down because of your credit history, you should get a letter telling you why and saying that you're entitled to a free credit report.
I find it hard to believe they would turn you down for no credit history though, as opposed to a bad history. They might not give you much credit, but you should be able to get a card. Did you only try those two places? |
#6
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Re: I cant get a credit card
I got turned down for my first high-reward credit card, so then I applied for a lower-reward card and was accepted. If you're currently targeting cards with the best rewards, I would recommend shooting lower.
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#7
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Re: I cant get a credit card
[ QUOTE ]
I got turned down for my first high-reward credit card, so then I applied for a lower-reward card and was accepted. If you're currently targeting cards with the best rewards, I would recommend shooting lower. [/ QUOTE ] Same here. I'm a Canadian that just moved to the States and I didn't get the first two cards I applied for even though I had just gotten a well paying job. No credit means you can only get basic cards it seems. As a slight thread-jack, I've had my basic card for about 6 months. Any ideas on how long I should wait until I apply for a better card (I really want one with air miles since I fly a fair bit). |
#8
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Re: I cant get a credit card
[ QUOTE ]
I find it hard to believe they would turn you down for no credit history though, as opposed to a bad history. [/ QUOTE ] This made me chuckle. You might also be amazed that your interest rates on cards can go up if you are late to pay a utility bill. |
#9
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Re: I cant get a credit card
[ QUOTE ]
If they turn you down because of your credit history, you should get a letter telling you why and saying that you're entitled to a free credit report. [/ QUOTE ] This is an excellent point. The guy at target said Id get a letter within ten days explaining why id been turned down, and I didnt get one. My buddy who was there and also has no credit history and was also turned down DID get a letter, so Ill ask him what his said. [ QUOTE ] I find it hard to believe they would turn you down for no credit history though, as opposed to a bad history. [/ QUOTE ] me too. [ QUOTE ] Did you only try those two places? [/ QUOTE ] These are the only ones Ive tried because 1) I cant believe they didnt give them to me. 2) If I cant get a credit card at target, who the hell is gonna give me one, they hand them out like candy 3) I have no sense of urgency about this. Ive got a pretty healthy chunk of money just sitting in my checking account at my bank. Anybody think that threatening to change banks might get them to give me a credit card? The idea that they wont give me a $5k max card when Ive got 4 x that much sitting in there bank is driving me nuts. |
#10
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Re: I cant get a credit card
[ QUOTE ]
[ QUOTE ] Apply for a secured credit card with American Express. Send them a check for 200 bucks and spend it. It is a way to build your credit. Be careful about applying for too many, as this effects your credit negatively. [/ QUOTE ] [ QUOTE ] Id really rather not have to deal with secured credit cards [/ QUOTE ] The secured credit card thing seems ridiculous to me. Ive been using my debit card at my bank for 7 or 8 years now, I dont know how that doesnt serve the same function as a secured credit card. [/ QUOTE ] You use one because it looks as if a credit card company is extending credit to you, it is more for credit repair then credit building. It is a good way to make sure that you dont abuse it either. I have four credit cards that I use 2-3 times a year, just so they don't get cancelled |
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