WTF? Declined on a farking secure card!

[StageLeft]

Ah this is truly the pinacle of sillyness. I'm trying to establish a credit history in the US. I have absolutely no credit at all and all that is on my file now is an inquiry to Verizon for a cellphone (declined unless I was willing to part with $200 for a deposit) and an inquiry by Capitol One.

Using their credit rating thing on their page they said that if you are making $20-40k with NO credit at all apply for one of their classic cards. Well I am making $46k with only $555/rent a month and I was declined even for a secure card (which is easier to get). I thought the point of these was to establish credit? Like WTF is going on? I'm willing to pay their $39 anual fee plus give them the money first. They are in a no-lose situation and they won't even give me credit equivalent to 1/350th of my yearly after-tax income - AFTER I first secure that credit by paying them cash.

She said to try for a store card cause its easier. Yeah right it is. I'm basically stuck now with no credit and absolutely no way to get credit either. Am I doomed to a life of saving up for everything first? That sounds fine but won't really help when its time to buy a house.

 

[Viper GTS]

And I thought I had trouble getting credit.

I now have both a $2,000 credit limit and a cell phone, neither of which was secured.

Where's RossMAN, maybe he has some thoughts.

Viper GTS

 

[StageLeft]

Ah, nobody can help me now!!

 

[Rent]

I got my CC last december... compaines just love college students.

Now I've had it for 10 months, cell phone for 6 months... and I'm paying rent. Rent will get you a good credit established, but only after you finish your lease.

 

[ggavinmoss]

Well how's this... quit complaining and go get that store credit card. The longer you wait, the longer in life you won't have good credit!

This is why I recommend anyone who is a student to get the student AMEX card. They throw it out like candy and it allows you an early start to get credit with no annual fee and a small enough limit that you don't get in too much touble.

Good luck!

-geoff

 

[cjchaps]

I suggest going to a college campus and signing up for credit cards there. They seem to give anyone is college a credit card.

 

[Viper GTS]

Do you have anybody that will co-sign for you?

Viper GTS

 

[StageLeft]

I'm not a student, thus I won't be getting any student cards.

I am not even sure I'd get a store card. This lady said they were easier to get but how is a card at target going to be easier to get than a secure card? Makes no sense.

Do you have anybody that will co-sign for you? On a secure card? I'd rather kill myself. The answer is no anyway

 

[Rent]

Its not a point of being secure. Its the fact that they think that if they give you a card that you'll spend lots of cash at their store.

I'd go to Circuit City or Best Buy and get one there. Have you tried applying at sites like Citibank or Amex?



<< I'm not a student, thus I won't be getting any student cards.

I am not even sure I'd get a store card. This lady said they were easier to get but how is a card at target going to be easier to get than a secure card? Makes no sense.

Do you have anybody that will co-sign for you? On a secure card? I'd rather kill myself. The answer is no anyway >>

 

[Russ]

Skoorb,

Probably based purely on employment/residency length. Wait until you've been on the job and living at the same place for a year, you'll be fine.

Russ, NCNE

 

[TallBill]

i cant get approved for anything either

 

[StageLeft]

Probably based purely on employment/residency length. Wait until you've been on the job and living at the same place for a year, you'll be fine.

I want it now now now!!

--

Is it really easier getting store cards?

 

[Descartes]

<< Is it really easier getting store cards? >>



Not at Sears! I had the same problem as you for a long time, but I've finally built up enough credit to actually make purchases. I went to Sears last week to buy a new washer + dryer, and they offered me a card, so I thought why the hell not and applied. I was denied for having "too much on credit." Fascist bullies

 

[Viper GTS]

I got rejected for several store cards AFTER I had my first credit card ($1,200).

I also got rejected for a few department store/gas cards before that card.

So I doubt it will be much easier.

Viper GTS

 

[zmatrix]

<< Probably based purely on employment/residency length. Wait until you've been on the job and living at the same place for a year, you'll be fine.

I want it now now now!!

--

Is it really easier getting store cards? >>



so you can spend spend spend? lol...

My idiot friend had no job when he applied and yet he still got a card. He lied his ass off saying he made $75,000 per year and he ended up with a Titanium MBNA card.

That's very unfortunate you got declined. You derserve it more than my friend does cause you have a job. Btw, he still doesn't have a job.

 

[wyvrn]

I agree with Russ. CC companies have been burned too many times in the past by people coming here, running them up, and leaving town. Our laws don't apply in other countries, so in effect, they can do nothing about it. Once you have lived her a year you will have a much easier time of it. Students can get them mostly cause they were born or have lived here a long time.

 

[Mephistopheles]

Skoorb, why do you need credit in the US unless you are planning to move there? I go down south once and a while, but I have a US CC that I got from here (TD Bank).

 

[StageLeft]

So basically the moral of this story is I'm fvcked until I've been here for a year right? I was approved to buy a new cavalier with a $700 downpayment when i first got here using my Canadian credit history as well...but 15% and a new cavalier sucks! I wanted to get a late model used camry next month but I may instead look at a used junker. I have a lot of credit from canada so I'll just buy the car with that and cash I was going to otherwise use as a downpayment.

Skoorb, why do you need credit in the US unless you are planning to move there? I go down south once and a while, but I have a US CC that I got from here (TD Bank).

I moved down here about 2 months ago!

 

[aceO07]

My first credit card was a Sony Platinum Citibank card. I got it when I was working part time, and a first year college student.

My second credit card is an AMEX Blue. Got rejected the first time, then I tried again a couple of months later and got it. Apparently for some friends (college) it was hard to get even with a good job (part-time). For some, it was too easy, they didn't have a job and didn't need to apply or got accepted..

Try getting the Sony credit card...

I heard they keep track on how many times you try to apply for credit cards? or credit inquiries?

 

[StageLeft]

I heard they keep track on how many times you try to apply for credit cards? or credit inquiries?

This is true - so I don't wanna over do the inquiries. At most I will apply for one more elsewhere and a car loan, but I'm kind of leaning against the car loan now. Screw em. I'll show them by buying it with crap I already have! Joke is on them! Well, mainly on me still

 

[Viper GTS]

Sony Citibank was my first as well, you might try that.

Use the Sony points to buy a Wega!

Viper GTS

 

[GL]

My friend got hounded so much by CC companies giving him cards that he filled out an application saying he made $1 million a month and his name was Phil Heartman and he was a student of Women's Studies!

1 month later he got a credit card with an insane limit assigned to Phil Heartman Till this day he still gets phone calls asking for Mr. Heartman (apparently to activate his card) Funniest thing I've ever heard...guess they don't do a lot of background checks...he could practically start a fake identity off of this!

Anyways...moral of the story....why not just use your Canadian credit cards? They offer pretty good exchange rates. Or find the Canadian banks down south...they try to hide their Canadian identity though so Toronto Dominion is TD, Royal Bank is RBC, etc...

 

[StageLeft]

Anyways...moral of the story....why not just use your Canadian credit cards? They offer pretty good exchange rates. Or find the Canadian banks down south...they try to hide their Canadian identity though so Toronto Dominion is TD, Royal Bank is RBC, etc...

I use my CAN card and its great but I wanted to establish some credit down here too...

Does anybody know how hard it would be to set my sights lower and apply for a car loan of say $3k with a 1000 downpayment? Would that be easier or harder than a CC?

 

[apoppin]

Car loans are very easy.

Even if - take the worst example - you get stuck with a 24% interest on a $3,000 loan - pay MOST of it off right away and stretch the rest of it out for 6 months. That way you are paying as little as possible in interest while still establishing a credit history here (6 months is considered minimum to establish a paying history to qualify foir further credit).

Good luck!

 

<< Ah this is truly the pinacle of sillyness. I'm trying to establish a credit history in the US. I have absolutely no credit at all >>



Re-read what you said, you have no credit, work your way from the bottom, no matter how much you make.