I'm almost 19. Trying to build my credit, and it doesn't make much sense to me, but I get things in the mail saying I've been approved for this credit card..then I apply and they deny me because I have no credit history. So how do you do that if you don't have any credit history???
2006-08-03 05:44:14 · 7 answers · asked by jmt4127 3 in Business & Finance ➔ Credit
Try this credit card. It has a low limit at first,but it reports to all 3 credit agencies. Then with on time payments the limit gets bigger.
http://creditoffernow.com/imaginecard
2006-08-04 03:54:29 · answer #1 · answered by Harvy S 2 · 1⤊ 0⤋
Unfortunately utilties do not always report payment history to the credit reporting agencies. They will only normally do that in negative situations, or unless you request that they do, and they are willing to make such a report.
Secured Credit Cards are usually the best way to also start building credit on your own, but you should be aware of a few things like fees. You should also make sure that the company that you are using reports to the three major credit reporting agencies as well.
The card applications at most of the student unions are usually loaded with fees, and high interest rates. Make sure that you turn over the applications and read the disclosure statements to find out how much of your credit will be taken up by fees initially and annually.
The other option for building credit would also be small store cards with small limits. Make sure that you use them wisely (don't go over 50% of limit) and most importantly is your payment history.
2006-08-03 14:04:08 · answer #2 · answered by Anonymous · 0⤊ 0⤋
If you don't have any credit history or have bad/poor credit, there are cards designed specially for building credit. Since you have no credit history, you might have to pay a higher interest rate than that of regular credit cards. However the interest rates don't really matter as long as you pay off the entire balance every month. Your credit lender will be willing to low the interest rate once you start making month payments.
Many of the cards such as those from Orchard Bank report to all 3 credit bureaus monthly, which can help you establish credit history and improve your credit scores.
2006-08-05 19:16:53 · answer #3 · answered by Anonymous · 0⤊ 0⤋
simple fix
go to this website for a card
http://www.wesayes.com
here is some text from there about credit cards
"We have over 50 Banks & Companies that offer Bad Credit Unsecured Credit Cards and Merchant Cards to people with good credit, no credit, bad credit, or even a bankruptcy. - NO SECURITY DEPOSIT. Apply Online. You can get started right away"
2006-08-03 13:07:14 · answer #4 · answered by Anonymous · 2⤊ 0⤋
You need to get yourself a college credit card not a regular one. Citi has some really good ones, cause I was like you and I did not have any credit and I got a Citi Credit card on my credit and it went up a lot as long as you pay on it each month.
2006-08-03 20:10:12 · answer #5 · answered by Nicalo22 4 · 0⤊ 0⤋
try applying for a secured credit card. you have been applying for unsecured credit, meaning there is no collateral to repay the debt if you default. a secured credit card is a card where you put down a deposit. you give the creditor $300 (for example) and then use it like a credit card. if you can find one, these can help you build your credit up. also, any pre-approved card is usually just that, you should not be turned down for one. pre-qualified is not the same, watch out for those.
2006-08-03 12:53:55 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Get utility bills put in your name and pay them religiously. You can build credit that way....
2006-08-03 12:47:54 · answer #7 · answered by Wild seed 4 · 0⤊ 0⤋