Credit Problem - Need Advice

[y00ycdz]

I'm 23, graduated from college in May 05' and started a job in June 05' and have been working there since. I have filled out at least 3-4 credit card applications since June 05'. I tried not to do so many at once since I heard that too many inquiries into your credit is bad, so I tried every 2 months or so. It's been about 3 months actually since I last tried, but i'm looking to get some advice before I try again.

I have never had a credit card in my life, I've always only used money I had in my bank account through a debit card. I've had at least 4 or 5 different debit cards in the past 5-6 years, however, none of these are credit cards thus they do not seem to effect my credit score.

About the score, I got a credit report because my landlord wanted to see it when I rented out this house with some friends, however, no score was on my report. I also have no student loans, so no open accounts show up on my credit report, it's basically blank, as if I'm off the grid...

I've even tried Capital One's credit card for people with limited or no credit history called: "Capital One Platinum: Limited Credit History" ... I was declined for that one, which didn't make sense to mee, since it was suppose to be for people with limited or no credit...hah.

I've also tried to get a Visa card through my bank (Wachovia) and a few other random ones on the net, I think 1 Discover and 1 Mastercard.

In view of the above information, does anyone have any advice on how to get myself a credit card.

I appreciate any input. Thanks.

 

[simms]

MBNA on your campus should've hooked you up earlier with one. Good luck though!

 

[y00ycdz]

I believe I was solicited a few times while in school, but I did not want to get into any debt early in life, so I decided not to sign up... I guess that was a bad move, I should have at least got one, and just not used it much :-\

 

[Yossarian]

get one of those secured cards where you have to deposit a few hundred bucks. pay it off on time for a few months and you can get a real card.

 

[mugs]

Secured credit card for a year, then apply for a real card.

Also, credit score is not part of a credit report.

 

[blackangst1]

Go to www.crownjewelers.com and sign up for an account. They do NOT do a credit check, and they DO report to all 3 buereus. Initially your credit limit will be $500 bucks most likely. For the first year, you pay a down payment for purchases (usually like 10-20%) and bill you for the rest. I've ordered 3 things from them, and they are decent stuff. And yes, they DO report.

 

[FleshLight]

Sign up for one of those student credit cards?

I have absolutely no credit and applied to citibank's MTVu card and was approved for a $1200 limit (i'm 18). There aren't any extra fees and I didn't have to put in a deposit.

 

[QuEeNyGuRl]

You can start building credit with non-traditional data. It's data that is not being reported by the 3 big repositories such rent, utility bills, cell phone bill, insurance, etc. Non-traditional credit reports are accepted by Fannie Mae already.

Go here to get started: http://prbc.com/consumers/

 

[kranky]

Have a checking and a savings account at your bank. Then ask your bank if they offer a secured card. If they don't, get a secured card somewhere else.

You could also try Sears, JCPenney, or another large department store if you are going to be buying stuff there anyway.

 

[Viper GTS]

There are plenty of secured cards out there.

Even Citi has one, if you want to get your foot in the door with a prime bank.

http://creditboards.com/forums/index.php?act=Attach&type=post&id=277

That should get you a PDF of the application.

Viper GTS

 

[DaWhim]

lol......I like to laugh at people like you. did you think credit card was evil or something like that?

do you get pre-approved letters? those are the good chance you will get one. can your parents give you a secondary credit card.

 

[Turnpike]

i find it very odd that so many cc companies would deny a person with a working income.

 

[MrBond]

Originally posted by: DaWhim
lol......I like to laugh at people like you. did you think credit card was evil or something like that?

do you get pre-approved letters? those are the good chance you will get one. can your parents give you a secondary credit card.

When I wanted to get a credit card for the first time, I applied using a "preapproved" letter I got in the mail and was still denied.

I ended up getting a card with an annual fee (something like $55 and a $500 limit), which I used and paid off every month. After a year was up, I called and cancled it, and applied for a BP rewards card for the sweet sweet 1% back in free gasoline

 

[sao123]

MBNA approves almost everyone who has a job...

 

[y00ycdz]

Originally posted by: Turnpike
i find it very odd that so many cc companies would deny a person with a working income.

me too... and my income isn't too shabby... so I guess just the "insufficient credit history" accounted for me being declined at so many...

Anyway, it seems like secured is the way to go for now, i'll try to get one ASAP.

Thanks to all who had some positive input.