I was wondering. I applied for their CC a while ago and the letter stated the there is no info available or info missing from each of the credit agencies. Fair enough, I didn't have any credit. Well, after few months, when I did have some credit, I tried again and same exact letter came back. So I sent them copies of two of my credit reports, and guess what, the exact same letter came back the third time. What the hell... I have limited credit history as they focused on and meet all the basic criteria. I know that's not everything, but can't they at least write something else, more case-related?
2006-09-30 06:37:12 · 12 answers · asked by Alanna V 2 in Business & Finance ➔ Credit
Sorry. But if you have limited credit history (though no fault of your own), the big credit card companies will reject you.
I have received a lot of rejection in my credit card application because I had no or limited credit history (being an immigrant). So I opted for the department store cards instead -- e.g. Macy's.
After a couple of years of responsible credit card management, I finally got approved for a Capital One card. But it took a while.
2006-09-30 06:46:21 · answer #1 · answered by imisidro 7 · 12⤊ 0⤋
They obviously have stricter policies than some other banks.
Why not just try another bank? In the meantime, keep building up your credit by making all your purchases with credit card, and paying them off IN FULL and ON TIME each month.
Your credit should build up in the next few months such that you can apply for this card.
If you really want to know why they rejected you, they leave a number you can call and speak to a representative who will tell you. I imagine they are just not willing to take a risk on someone with such little history.
2006-09-30 06:41:26 · answer #2 · answered by Jeff S 2 · 0⤊ 0⤋
Capital One offers a prepaid credit card,send them a cheque for (money order) with application and they will grant you a card with a 1500.00 limit.Use this card to buy gas only (small purchases) and then you get home pay for that purchase online.At the end of 1 year they will send you your money back with 6% interest.During this period do not apply for any credit from anyone,that means do not give out your birthday,sin/social security number or postal code/zip code.This means that no one will have hit your credit and your beacon score will increase to over 680 which will allow you to obtain another credit card as you now have a proven track record showing that you are credit responsible.Then do not apply for credit more than 3 times per year or your file will look like you are credit seeker(RIPE FOR BANKRUPTCY/CHAPTER 9)Try not to use credit to much as it is very easy to load your self done with debt.If you do have a balance on your card you will be paying 3% per month for nothing as this is the interest charge.Good luck and be careful.
2006-09-30 07:37:00 · answer #3 · answered by Anonymous · 0⤊ 0⤋
You could look into getting a secured credit card through them. That is where you make a down payment towards your credit limit. Good luck.
2006-09-30 06:41:43 · answer #4 · answered by treymf 2 · 0⤊ 0⤋
Get a department store card. Pay on time for 6 mos. then apply again. By that time you'll probably get better offers anyway.
Or if you have a parent or someone that will put you as an authorized user on their card for a little while it will help establish your credit.
2006-09-30 11:29:57 · answer #5 · answered by Not Laughing w/ U 3 · 0⤊ 0⤋
in simple terms an FYI even nonetheless it rather is referred to as a "end and desist" letter. grab might mean you're stressful the taking of supplies.. that would deliver out the incorrect sign. Now, with that out of how, there are DNC (do not call) registries which forestall solicitation and telemarketing calls yet sequence companies can paintings around such issues. reckoning on the form of debt, the place you're placed, and the age of the debt, they are able to take specific classes of action yet, reality be recommended, maximum of it quantities to empty threats. quickly, in case you do not owe the money, overlook approximately until eventually they supply up or take different measures. i for my area relish the speaking gibberish course. It makes for some exciting telephone calls!
2016-10-15 09:17:22 · answer #6 · answered by canevazzi 4 · 0⤊ 0⤋
Please stop the slavery . You want to play with snakes?
You want to work and pay 1/2 of your pay check to loans? Wake up!
You do not need credit cards You need more money or knowledge how to handle your money. Banks/credit cards are like Pimps.
Don't got money - get 2nd , 3rd job.
Don't know how to work your money - visit DaveRamsey.com to learn.
2006-09-30 09:20:57 · answer #7 · answered by Anonymous · 0⤊ 0⤋
what type of card are you trying to get. If you are jsut starting out you will not be able to get one of their more elite cards like airline cards if you are a student that is the type of card that you need to apply for because they have less strict guidelines and do not require you to have established history.
2006-09-30 09:04:59 · answer #8 · answered by Anonymous · 0⤊ 0⤋
no..for credit card companies there is no such thing as case related. it's about making money from us poor schmucks...lol
no really...they have a basic letter that pretty much works for everything.
2006-09-30 06:45:13 · answer #9 · answered by Jessica T 3 · 0⤊ 0⤋
Believe me, you don't want a credit card.
People spend the rest of their lives trying to pay them off.
I know from experience.
2006-09-30 06:41:45 · answer #10 · answered by photoguy1959 3 · 0⤊ 0⤋