I recieved 2 credit card applications in the mail for a CitiBank MasterCard. I don't have any credit at all and I've applied for a couple cards and been rejected, so I'm weary about sending in one of these applications because I know it looks bad on your credit to apply for a lot of cards. So are these just an ad or will I really get a card??
2006-08-10 01:59:40 · 10 answers · asked by Hypnotiq 3 in Business & Finance ➔ Credit
i have applied for a dept store card with my visa check card (w. my bank) and been rejected...is there a particular store thats good to apply to? (i applied to Kohls) And I have no credit because I'm 19. The only reason I want credit is to help with school and because I rent an apt by myself.
2006-08-10 02:25:15 · update #1
nope they don't. They just want to to apply then they might reject you.
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good luck
2006-08-10 12:41:09 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Just because it's in the mail doesn't mean you'll be approved however if those offers say you are pre-approved it does mean you have a better chance of being approved. If it mentions nowhere that you're preapproved then it may be just an ad. Store credit cards are not only more difficult to get approved for, but they are much worse to maintain and usually have the highest rates. Try to avoid them at all costs if you can. Look at Capital One because I know they have a few cards which cater towards students so they obviously would take into consideration you have no credit because you are so young. You may need to begin with a secured card.
2006-08-10 02:49:05 · answer #2 · answered by ShouldBeWorking 6 · 0⤊ 0⤋
No. The "pre-approved" applications just mean you meet ther criteria at that time. You need to read the fine print. If you don' earn their minimum requirement, you'll be rejected regardless of which company sent you the offer.
I suggest you start off with a dept store card like Walmart. That will help you begin to build your credit rating and will give you a credit history.
And if your bank offers a credit card, you might apply through them.
2006-08-10 02:04:18 · answer #3 · answered by Anonymous · 2⤊ 0⤋
Get a secured credit card (ask your bank for details) to build up your credit rating.
About applications in the mail, no easy answer. When I was your age I got lots of applications, but none were approved for amounts over $1000 until I finished university and got a better paying job.
2006-08-10 02:31:04 · answer #4 · answered by Anonymous · 0⤊ 0⤋
look out for high interest rate cards. did you get rejected because you didn't pay for something or just because you're young? if you're just starting out you will want to establish credit at some point anyway. try it, just keep it under control. what i did when i was a kid was to go to a local department store and bought some underwear and applied for their card which they usually approve on the spot. then I had it and kept it paid up on time. It was only a small purchase but did the trick.
2006-08-10 02:11:10 · answer #5 · answered by zocko 5 · 0⤊ 0⤋
The only way to know if a preapproval is a real one is to check for a disclousre. Somewhere on the letter should be some writing in small print stating that if you wish to stop receiving these offers you must opt-out. Which simply means they did a soft pull on you credit and you passed their credit standards. If the letter does not have that statement, it is not a true preapproval.
2006-08-10 04:01:45 · answer #6 · answered by bella_4624_19 4 · 0⤊ 1⤋
I got my first credit card from EXPRESS/EXPRESS for Men, they only gave me a $150.00 limit though but they increase it about every six months or so. Kohl's denied me for a credit card too, and I worked there at that time. They do not like first time credit people I don't think.
2006-08-10 08:12:34 · answer #7 · answered by rissybabe2210 1 · 1⤊ 0⤋
depending on your situation, you may get the card. Someone told me that from the first inquiry into your credit there is a two week time period for inquiries to be made at no reflection on your credit. Mostly, though they are just ads!
2006-08-10 02:06:53 · answer #8 · answered by DispatchGirl 4 · 0⤊ 0⤋
if they say you'll be approved in the letter, then you have to be approved... However, you may only get a credit limit of like $50...
But if you can build your credit reputation with that, the credit limit will go up...
2006-08-10 02:05:24 · answer #9 · answered by JamesH 5 · 0⤊ 0⤋
no it doesn't mean you are approved
they buy names from different companies that sell them
2006-08-10 12:37:11 · answer #10 · answered by Anonymous · 0⤊ 0⤋