How should I apply for a credit card?

[powwka]

Ok, I need a new one, with at least a $1,000 credit limit. Should I just start applying for a bunch of them, or should I apply for one and wait until I get rejected, and then apply for another?

If you have any suggestions for which ones to apply for, that would be helpful. Currently I'm 19, have had 1 other card for a year, I did one of those free credit check things and there is nothing bad on my credit, I still live with my parents, low income.

 

[Triforceofcourage]

Do not apply for a bunch at a time. Your credit score gets dinged everytime one of them pulls it and each one will wonder why you are getting so many hits. Apply for one and then wait for the response. Some responses only take 30 minutes anyway. I currently have the citibank dividend platinum select card. You might want to try it.

 

[Strk]

Why not just ask your current CC company to increase your limit?

 

[powwka]

Originally posted by: Strk
Why not just ask your current CC company to increase your limit?

I called and they only have an automated voice thing, so I finally got to the menu about increasing credit limit, and they say they are currently not doing that.

 

[jamesbond007]

Originally posted by: powwka

Originally posted by: Strk
Why not just ask your current CC company to increase your limit?

I called and they only have an automated voice thing, so I finally got to the menu about increasing credit limit, and they say they are currently not doing that.

Talk to a representative (real person) about doing so. Screw the automated system!

EDIT: For a tip to get to a real person, just mumble and garble crap into the voice system when it prompts for commands until it reaches the limit and sends you to a real person.

 

[cyclistca]

Or hit 0. That will send you straight to a person in many auto systems.

 

[Rumpltzer]

Do you mind telling us what the limit is on your current card?


If you care, my first card's limit was like $240. I was a college student with no income. I applied for my first card because I needed a credit card to buy tickets from Ticketmaster as a girlfriend's Christmas gift.

I bagan buying computer parts the summer after junior year in college (I had summer internships) and they began bumping up my credit line a few hundred dollars every month. I think I was at a $1200 limit three years after my first credit card.

That seems like a long time ago...

 

[Old Hippie]

Or hit 0. That will send you straight to a person in many auto systems.

I've always had good luck with that.:thumbsup:

 

[powwka]

The limit is $500. It started at $300, got to $500 after 3 months, but can't go any higher.

 

[imported_inspire]

It's not easy to get a 1k limit at 19. Take what you can get and keep building your credit.

 

[erub]

Are you a college student? I had no problems getting limits that high as a college student. Also, are you paying your bill ontime, in full, each month?

 

[powwka]

Originally posted by: erub
Are you a college student? I had no problems getting limits that high as a college student. Also, are you paying your bill ontime, in full, each month?

College: Today was my last day (I'm not completing my degree )
I always pay on time. Once I went over the limit by a couple bucks, so I got a $30 charge, but I still paid it on time.

 

[Jeeebus]

finding a credit card is not hard. There's an infinite amount of choices out there. But at age 19, with little to no credit, don't try to apply for the elite platinum 5% cash back cards because they're going to ding you in favor of people with established credit. Just find a no annual fee/no rewards card and go with that, or maybe a low annual fee/frequent flyer mile etc. card that can be put to some use.

 

[ebaycj]

Originally posted by: powwka
The limit is $500. It started at $300, got to $500 after 3 months, but can't go any higher.

WTF kind of credit card is that? Even my first ever student MBNA card gave me something like $2500-$3000.

 

[ebaycj]

Originally posted by: powwka
College: Today was my last day (I'm not completing my degree )

Ahh, that's why they won't raise your credit limit... It's apparent to them (and everyone else) that you suck at life.

 

[powwka]

Originally posted by: ebaycj

Originally posted by: powwka
College: Today was my last day (I'm not completing my degree )

Ahh, that's why they won't raise your credit limit... It's apparent to them (and everyone else) that you suck at life.

Hehe no. They wouldn't raise it before I even considered not getting the degree. Plus they never even asked anything about that.

The reason I'm not continuing school is because I'm trying to make money from "Internet Marketing" I guess you could call it. I'm doing pretty good already, but I could use the higher credit limit to help with my expenses.

Also, the card was the first one I got in the mail, that said I was pre-approved. Capital One.

 

[erub]

Originally posted by: powwka

Originally posted by: ebaycj

Originally posted by: powwka
College: Today was my last day (I'm not completing my degree )

Ahh, that's why they won't raise your credit limit... It's apparent to them (and everyone else) that you suck at life.

Hehe no. They wouldn't raise it before I even considered not getting the degree. Plus they never even asked anything about that.

The reason I'm not continuing school is because I'm trying to make money from "Internet Marketing" I guess you could call it. I'm doing pretty good already, but I could use the higher credit limit to help with my expenses.

Also, the card was the first one I got in the mail, that said I was pre-approved. Capital One.

Is this a parody? If not...Capital One and Internet Marketing???

 

[powwka]

Originally posted by: erub
Is this a parody? If not...Capital One and Internet Marketing???

Nope, sorry
Care to explain though?

 

[Wapp]

Are you selling Cutco? Quixar? Amway? Calling Cards? Pyramid Scheme?

 

[erub]

Originally posted by: powwka

Originally posted by: erub
Is this a parody? If not...Capital One and Internet Marketing???

Nope, sorry
Care to explain though?

Capitol One is widely known to be a subprime lender, and one of the worst out there about raising limits, keeping track of payment history, etc. I'd recommend MBNA for your next card, they seem to be the most gracious about raising limits, at least as a college student. But then again, if your occupation changes from student to 'internet marketer' it might be hard for anyone to approve you..

 

[SoulAssassin]

Originally posted by: Triforceofcourage
Do not apply for a bunch at a time. Your credit score gets dinged everytime one of them pulls it and each one will wonder why you are getting so many hits. Apply for one and then wait for the response. Some responses only take 30 minutes anyway. I currently have the citibank dividend platinum select card. You might want to try it.

Actually applying for as many cards as possible at the same time is a well known strategy commonly called an 'app-o-rama'. If you apply for credit with multiple creditors at the same time they won't see the inquiry on your credit report for the other requests. Your score will take a hit for about 6 months and then bounce back. I have close to 200K in available credit and I've done it a couple times.

 

[powwka]

By internet marketing I mean basically making websites and monetizing them using Google Adwords, Yahoo Publisher Network, affiliates ads, etc.

The first day of my school's 2nd semester is January 17th, so will I be considered a student until that date?

 

[NuAlphaMan]

Originally posted by: erub

Originally posted by: powwka

Originally posted by: erub
Is this a parody? If not...Capital One and Internet Marketing???

Nope, sorry
Care to explain though?

Capitol One is widely known to be a subprime lender, and one of the worst out there about raising limits, keeping track of payment history, etc. I'd recommend MBNA for your next card, they seem to be the most gracious about raising limits, at least as a college student. But then again, if your occupation changes from student to 'internet marketer' it might be hard for anyone to approve you..

That's not entirely true. I had Capital One for years and they routinely increased my limit. The only reason I left them was because I got a 5.9% rate from another company.

OP, you shouldn't be trying to get an increase, from the sound of things, you don't need it. you should be able to pay your "expenses". And if you pay your bills on time, you typically don't have to ask for an increase, it is just given to you.

 

[kevnich2]

MBNA is no longer, it was bought out by BofA

 

[crystal]

Internet Marketing, interesting. Is it ok for me to call you a spammer?