Does it hurt to Apply for Credit Cards if you have no Credit History?

Question

hi, i just turned 18, never had any credit cards, never paid any bills, and i applied online for my bank of america student card, however, i was denied even though i met the qualifications, so i reapplied again online, i was wondering if doing this would bring my credit score down even though i dont have a "credit score" to begin with.

Thanks in advance

Answer 1

Every time someone does a "hard inquiry" about your credit, it goes on your credit report. A "hard inquiry" occurs every time you apply for credit. I think you should stop applying for credit and look into doing things that make you more credit-worthy, like paying bills and holding jobs.
Creditors want to know you pay your bills on time. That's a good place to start.
At 18, the only reason you should hold a credit card is for the purposes of charging for things you already pay for (like bills) and paying your balance in full each month.
Anyway, I think the answer is "yes." Applying for credit repeatedly DOES hurt your credit score.

Answer 2

Applying for credit cards would not hurt your credit rating. The only thing that could hurt your credit is when you are late in payments.

If you were turned down by banks, may be you should try the department store or gas station credit cards. They are higher in interest but are easier to get. Make your payment on time. Charge only what you can pay for. Once you build up your credit rating, you will be able to get bank credit cards.

Answer 3

If you don't have any credit history and you apply for credit it will not hurt your rating because you don't have any yet. The best thing you can do is get a co-signer like a parent to help you out with getting a credit card and then you will slowly build up credit history. My parents co-signed for me when I was 18 and I started building up my credit and by the time I was 20 I bought a Suzuki GSXR 750 by myself with no one but my credit the bike cost 10K and I got it all on my own. Be smart with your credit and pay your bills on time and you will slowly build it up.

Answer 4

There are various credit cards for people without credit history!Well, I got my first credit card about a week ago at http://ezpreapproval.com/Bad-Credit-No-Credit-Cards-1049221-page.php I bought that pair of shoes as my first credit card purchase, and I didn’t allow myself to buy anything else until I paid them off. IBesides, someday I’m going to have to use credit to buy stuff I actually need, like a house or a car, so I decided that my first purchase should be something fun.

Answer 5

Try to get a secured credit card first. Use it occasionally and always pay on time. This will help build your credit and a good payment history will build good credit.

Answer 6

well if you want to build up your credit go to your bank and tell them that that's what you want to do. i don't think it can bring your credit score down cuz there's nothing to bring down. it's not like they keep track of how many times they deny people cards. i got a card with a low limit just to build up my ccredit for when i get married. they may also suggest a personal line of credit. good luck!

Answer 7

it will not hurt to apply....most credit card companies want you to be approved because ultimately they make money. although, having no credit is bad, because later in life it will help you out when you buy your first car, house, etc. I would suggest just applying for one that they send in the mail. even if you don't ever use it, it will build your credit. then, you can get one at the bank of your choice.

Answer 8

Every time you apply and are denied, this will bring down your credit rating. I realize that you are not trying to buy a motorcycle, but this will explain in plain terms what happens when your credit is brought up, and that it effects your credit negatively.. Read the part that reads not to have your credit pulled excessively. http://www.motorcycleloancenter.com/smartpurchase/credittips.htm

Jonathan T knows this is true also. We are trying to help you.

Answer 9

Try to get a card. If one company won't take you , try another. Keep up with your payments. Buy little things and pay them off right away. That will help you build your credit score.

Answer 10

Check to be sure that all information you enter on line are correct. If so then call customer service to find out why application denied.
Tell that you are interested to have one and ask them to get a solution. this is their way to make money from clients like you.
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