So like an idiot I tried to apply for a bunch of different store cards(BestBuy,Express...etc) and was denied by all...I don't have any previous credit cards and don't really know what I should do to get good credit...is my credit bad now?
2007-01-27 12:15:03 · 4 answers · asked by It'sabet 1 in Business & Finance ➔ Credit
Try for a capital one, or a gas card (like chevron etc...) they will start you off with a small line of credit and just pay it off every month. After roughly six months you'll start building some good credit. You shouldn't have BAD credit, but you probably want to check your credit report and make sure there aren't any errors. Go to www.myfico.com and get a free credit report (sign up for the 30 day free trial credit monitoring, they give you a free credit report and just cancel before the 30 days are up to avoid charges) and make sure there isn't a problem. You have "new credit" so aren't likely to get loans or great cards without a co-signer for a couple of years. Get started right away and as long as you do it right you will have GREAT credit within 3 years. I know, I did it!
2007-01-27 12:22:04 · answer #1 · answered by AriesJWR 4 · 0⤊ 0⤋
L & N credit union and I'm sure other banks as well have a program called goal savers loan and you pick an amount, lets say $1200. You pay $100 a month for a year and the bank or credit union will consider that credit history and give you a loan. My teenage daughter is doing it now. Not only will she be able to establish credit but she will also be saving money and gaining interest. It is just to track a consistent payment history for a period of time. Good Luck.
2007-01-27 21:07:54 · answer #2 · answered by mike j 3 · 0⤊ 0⤋
Favorable conditions for you to get a credit card are: a) you are about to graduate from college or higher; b) you rent your own place, pay for your utilities and can prove it; c) assuming you have your own bank account, you are in good standing there with no bad checks or overdrawn cases. If you are lucky, you can get your parents to put you on an associate card as a stepping stone.
If you think the credit card is another bank account to draw from, you should not have it because you can't afford it.
2007-01-27 20:30:56 · answer #3 · answered by Sir Richard 5 · 0⤊ 0⤋
How many cards was it? You might be screwed for atlittle while. If you can, wait 6 months and apply for a 'limited/no credit' credit card. Stay away from the store cards if you can, because even if you got accepted for those, they would still negitively effect your credit score.
I got my first credit card as a student card through my bank, i suggest you do the same if you are a college student.
2007-01-27 20:24:06 · answer #4 · answered by Anonymous · 0⤊ 0⤋