Question!

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Replied by kdb030609 on topic Re: Question!

I am 20 years old and have absolutley NO credit. I plan on moving for college in the next year and thought now would be a good time to start building some credit.
So I applied with my bank a FEW times (Chase) for a CC...denied due to no credit. They encouraged me to maybe try a store CC because theyre easier to get and it will help me slowly build some credit.
So i applied for a Macy's CC and got denied...due to no credit.

How am i ever going to build credit and ever get a CC


The secured card sounds like your best bet. If you really need to have a card at this time in your life. I know that college is when people can get into the most trouble with credit. It can be a real distraction from your studies. Whatever you decide just be cautious in your credit beginnings.

Best of Luck!!!
8 years 5 months ago #1

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Replied by Joeyman on topic Re: Question!

You also may consider a College card. I started with the College Rewards Visa, from West Coast Bank (aka Elan Financial services). They gave me a $1k limit with zero credit.
8 years 6 months ago #2

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Replied by JayRizzo on topic Re: Question!

Apply for Capital One's Standard Platinum unsecured card for "average" credit on their web site (not limited credit, but "average" credit), because if you get denied online it will automatically counter-offer you for their secured card for as little as $200 starting limit.

On the other hand and more than likely, you will be approved for the unsecured Standard Platinum card with a low limit $300, $500, or $750 AND you will be automatically enrolled into their Credit Steps program which is to help you build credit by giving you an increase after 3 to 5 months if you successfully fulfill their criteria steps (basically, pay on time, don't go over your limit).
8 years 6 months ago #3

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Replied by ColoNative on topic Re: Question!

I am 20 years old and have absolutley NO credit. I plan on moving for college in the next year and thought now would be a good time to start building some credit.
So I applied with my bank a FEW times (Chase) for a CC...denied due to no credit. They encouraged me to maybe try a store CC because theyre easier to get and it will help me slowly build some credit.
So i applied for a Macy's CC and got denied...due to no credit.

How am i ever going to build credit and ever get a CC


I would look into a secured credit card from one of the larger banks: Bank of America, Citibank, Wells Fargo or US Bank. Or, if you have a good credit union where you live, see if they offer a secured card. You will have to come up with the money up front (I would do $500-$1000) and the bank will hold onto it to secure your card. Usually after a year or two they will unsecure the card and send you your deposit back. Citibank even pays interest on your deposit.

Another suggestion is to see if a trusted family member will add you to one of their accounts as an authorized user. This can help your credit score, but again, only if the person adding you doesn't go into default later on.
8 years 6 months ago #4

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I am 20 years old and have absolutley NO credit. I plan on moving for college in the next year and thought now would be a good time to start building some credit.
So I applied with my bank a FEW times (Chase) for a CC...denied due to no credit. They encouraged me to maybe try a store CC because theyre easier to get and it will help me slowly build some credit.
So i applied for a Macy's CC and got denied...due to no credit.

How am i ever going to build credit and ever get a CC?:worried:
8 years 6 months ago #5

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