Rejected from my first credit card! Reason: Insufficient established credit.

[Kaido]

So about a week ago I applied online for the American Express Blue for Students card. I liked the features, heard they have good customer service, and the card looks spiffy. I get a letter from them today... without a card. It begins:

Thank you for your interest in Blue for Students from American Express. At this time, we are unable to open an account for you.

Your application was processed using a credit scoring system which assigns numerical values to the various pieces of information we consider in evaluating your application. Your application did not score enough points to qualify for an account at this time for the following reasons:

Insufficient established credit.

Okay...so...here's the deal. I'm 21 years old. I have no prior credit history - this would have been my first credit card. I'm not in debt nor ever have been. I'm attending college, working at a summer job, as well as working on the weekends at my regular "school schedule" job. I have a bank account and a VISA debit card.

I want to start establishing my credit. So I decided to apply for a credit card (one for students, even!). That application got rejected due to "insufficient established credit." So how exactly do I establish credit if I can't get a credit card due to insufficient established credit? Once again, I've never been in debt and I have a steady job.

 

[AccruedExpenditure]

Get a department store card from Macy's or Best Buy. Establish a track record then get a real one.

 

[Mr N8]

Capital One is easier to get a student card from, however, you will get a $500 limit @ 19.99%.

 

[edmicman]

heh, i applied for that as my first CC too and got rejected. As well as that reason, they listed a number of other things involving the credit history of students at my school or other crap, basically saying that "because you go there you can't get the card". I think i still have the letter somewhere. just go with something like a VISA or MC or Discover. Blue doesn't have the BVG anymore anyway, does it?

 

[fredtam]

Originally posted by: AccruedExpenditure
Get a department store card from Macy's or Best Buy. Establish a track record then get a real one.

This will not happen either with no credit. Start secured.

 

[Kaido]

Originally posted by: edmicman
heh, i applied for that as my first CC too and got rejected. As well as that reason, they listed a number of other things involving the credit history of students at my school or other crap, basically saying that "because you go there you can't get the card". I think i still have the letter somewhere. just go with something like a VISA or MC or Discover. Blue doesn't have the BVG anymore anyway, does it?

"Insufficient established credit" was the only reason listed for me

Man, I really wanted a Blue card...they have a "mini-microprocessor" built right into the card! It's the ultimate geek card!

 

[Bryophyte]

Yeah, get a card with a couple hundred dollars limit from someone like JCPenney or Target or a gas card. Use for a few months. It would've helped if you'd gotten a car loan with a parent co-signing with you when you were younger, but merchant cards can work great too.

 

[Fingolfin269]

Heh, back when I was in school the credit card companies didn't care if you had credit or not. Oh, you already have 15 credit cards and they're all overdrawn?! Here's another!

 

[AccruedExpenditure]

Originally posted by: fredtam

Originally posted by: AccruedExpenditure
Get a department store card from Macy's or Best Buy. Establish a track record then get a real one.

This will not happen either with no credit. Start secured.

eh? confirmed?

 

[Kaido]

Originally posted by: fredtam

Originally posted by: AccruedExpenditure
Get a department store card from Macy's or Best Buy. Establish a track record then get a real one.

This will not happen either with no credit. Start secured.

What's secured?

 

[Mayfriday0529]

Originally posted by: Kaido

Originally posted by: edmicman
heh, i applied for that as my first CC too and got rejected. As well as that reason, they listed a number of other things involving the credit history of students at my school or other crap, basically saying that "because you go there you can't get the card". I think i still have the letter somewhere. just go with something like a VISA or MC or Discover. Blue doesn't have the BVG anymore anyway, does it?

"Insufficient established credit" was the only reason listed for me

Man, I really wanted a Blue card...they have a "mini-microprocessor" built right into the card! It's the ultimate geek card!

dont you have to pay in full the bill every month with American Express cards.
i was rejected like 4 times by american express when i just started college, i wanted the one with a hockey logo on it.

i finally got a Mastercard student card with 1000 limit at school, they were signing up people.

 

[phreakah]

Originally posted by: Kaido

Originally posted by: fredtam

Originally posted by: AccruedExpenditure
Get a department store card from Macy's or Best Buy. Establish a track record then get a real one.

This will not happen either with no credit. Start secured.

What's secured?

you leave a deposit at the bank, which is your credit limit. if you don't make a payment they deduct it from your deposit

 

[Bryophyte]

Originally posted by: fredtam

Originally posted by: AccruedExpenditure
Get a department store card from Macy's or Best Buy. Establish a track record then get a real one.

This will not happen either with no credit. Start secured.

Really? That's how I started up, but it was over 10 years ago, so things may have changed since then.

 

[Kaido]

Originally posted by: Jnetty99

Originally posted by: Kaido

Originally posted by: edmicman
heh, i applied for that as my first CC too and got rejected. As well as that reason, they listed a number of other things involving the credit history of students at my school or other crap, basically saying that "because you go there you can't get the card". I think i still have the letter somewhere. just go with something like a VISA or MC or Discover. Blue doesn't have the BVG anymore anyway, does it?

"Insufficient established credit" was the only reason listed for me

Man, I really wanted a Blue card...they have a "mini-microprocessor" built right into the card! It's the ultimate geek card!

dont you have to pay in full the bill every month with American Express cards.
i was rejected like 4 times by american express when i just started college, i wanted the one with a hockey logo on it.

i finally got a Mastercard student card with 1000 limit at school, they were signing up people.

No, not for my card. They let you finance. However, the sole reason I want a credit card is to establish credit - I'm planning on paying for everything in full each month anyway.

$1000 sounds good...I want to buy a 21" LaCie monitor within the next year for like $700, I figured that would be a good thing to put on a credit card then pay off immediantly to help establish credit faster.

 

[ThePresence]

Originally posted by: fredtam

Originally posted by: AccruedExpenditure
Get a department store card from Macy's or Best Buy. Establish a track record then get a real one.

This will not happen either with no credit. Start secured.

It worked for me when I was starting out.

 

[Scrooge2]

First off most students with no credit have a hard time getting credit card deals too. I had the same problem until I got smart about it. In fact I got the EXACT same deal with American Express.

To get credit cards when you're a student with no credit:

1. Never apply to American Express. For most people unfamilar with credit, American Express is one of the most prestigeous and therefore most demanding credit card companies. If you're in college with no credit American Express WILL NOT accept you.

2. Always try for promotions on campus. Credit carc companies target college students like cigarette companies target 14 year old anst-filled teenagers. You fill out an application when they're on campus, you're guaranteed to get it.

3. Sign up for a credit card company even if you get rejected your info gets sent to credit card companies around the country and they'll start sending you offers for pre-approved cards. That's the easy ticket to credit in college.

4. Try Citibank Platinum Select Divident for Students This is probably one of the best cards to get for a student being Citibank is a credible company and they took me in when I had no credit. Plus you get cash back!

Hope this helps!

 

[lancestorm]

Get a card at your bank.

 

[Kaido]

Originally posted by: phreakah

Originally posted by: Kaido

Originally posted by: fredtam

Originally posted by: AccruedExpenditure
Get a department store card from Macy's or Best Buy. Establish a track record then get a real one.

This will not happen either with no credit. Start secured.

What's secured?

you leave a deposit at the bank, which is your credit limit. if you don't make a payment they deduct it from your deposit

That sounds pretty cool...so I can have whatever credit limit I want based on the deposit I make?

 

[notfred]

Anyone who gets a secured credit card is a moron, IMO. You give the company a $500 deposit, and pay them to loan it back to you? BULLSH!T.

I managed to establish my credit just fine without getting any secured credit cards. Getting someone to give you a $500 limit unsecured card is not that hard, even with no credit.

 

[BigJ]

Citibank Dividend Platinum for College Students

They approve a lot of people with very little or no credit.

Here's a link

 

[NakaNaka]

I also just applied for that students card. I hope I get it. I thought the whole point of this card was to establish some credit.

 

[torpid]

Amex is bad. Even after I established pretty good credit, they still rejected me. Best buy and amex were the two worst, in fact. Just about any other idiots will give me credit, though. Note I did use the word idiot though, so maybe amex and best buy are right on this one.

 

[Kaido]

Originally posted by: Scrooge2
First off most students with no credit have a hard time getting credit card deals too. I had the same problem until I got smart about it. In fact I got the EXACT same deal with American Express.

To get credit cards when you're a student with no credit:

1. Never apply to American Express. For most people unfamilar with credit, American Express is one of the most prestigeous and therefore most demanding credit card companies. If you're in college with no credit American Express WILL NOT accept you.

2. Always try for promotions on campus. Credit carc companies target college students like cigarette companies target 14 year old anst-filled teenagers. You fill out an application when they're on campus, you're guaranteed to get it.

3. Sign up for a credit card company even if you get rejected your info gets sent to credit card companies around the country and they'll start sending you offers for pre-approved cards. That's the easy ticket to credit in college.

4. Try Citibank Platinum Select Divident for Students This is probably one of the best cards to get for a student being Citibank is a credible company and they took me in when I had no credit. Plus you get cash back!

Hope this helps!

mmm cashback...

 

[AgaBoogaBoo]

get one of those prepaid ones first

 

[Kaido]

Originally posted by: NakaNaka
I also just applied for that students card. I hope I get it. I thought the whole point of this card was to establish some credit.

Me too! I was like, what the heck, the whole reason I'm getting it is to establish credit!