So how do I get a credit card ? (read details)?

Question

I applied for a Visa Credit card... It was declined...

The reason given to me was that I don't have credit. (not that I have bad credit, I basically have no credit rating, thats why I need a credit card, to earn credit).

Now, I recently bought a house and already have the furnishings for it, paid 20 pct down, have another 10 pct of its value in cash, I own my own car and have a steady middle class job working for the government. This apparently does not warrant me being trustworthy enough to have a credit card with a basic limit ?

However when I was a student with no job, no car, no money, no home... I couldn't walk down the halls of the campus without being assaulted by 3 credit cards vendors trying to get me to sign up for a Visa or a Mastercard or a whatever they were offering...

The car I paid for in cash. The house I just bought, and take possession of in about 2 weeks (mortgage is already approved), so it won't show up on my credit report I don't believe until my first payment comes up after a month. I would have liked to have the credit card to make paying my bills easier though rather than 6-8 weeks later after I own the house.

I know that many of those CC's offered to students were later declined, I just think they'd bother to write down on the application form somewhere that people with 'no credit' will not be accepted. There are like 50 footnotes on the bloody thing, youi'd think they could make that 51 rather than wait 6 weeks to tell me by a form letter. If nothing else, save themselves a lot of postage.

The only reason I really need one is that it would make paying bills easier, you get one credit card bill at the end of the month, make sure its all legitimate charges and pay it by over the phone banking. 5 minutes and voila!

Answer 1

You should have signed up then. Credit people have this strange flexibility towards college students. They want to get you early and get you in deep so you'll be working the next 5 years to pay them off. Instead you got a house, which you probably would not have been able to if you had all these credit cards.

Just realax a few months. Wait till your mortgage shows up in your credit file then apply for a credit card. Dont apply for the platinum, titanium or whatever just a basic card.

If that doesn't work, goto a bank and open an account with $1000 and ask for a secure credit card secured by your savings account.

At least this way you'll build credit. I think however after you rmortage shows up in the credit files you should get a card with relative ease.

Answer 2

I will be honest with you, its hard to believe you have a house, car, and a job, and can't get one. There has to be a little secret your not telling. Because i work through a credit card company and with what you are telling me would qualify you for most. If you are denied it is because you have some outstanding debt that has not been paid and has been turned over to collections, there is no over reason you would be turned down. Even if you have no credit, you still would get approved. But you say you have no credit, but yet you have a house and car, the moment you signed for that house and car made you have credit, a bank lended you the money, thats great credit. Like i said you have other underlining issues, and if you don't know of any try checking your credit online, you get 3 free credit checks a year. But if your going to try for another card, i would try Capital One first. Good luck!!

Answer 3

Isn't that nuts? You can buy a house but not get a credit card. Start with the easier credit cards to get like gas cards and department store cards. Only put a little bit on them at a time and pay them off every month. I would say in about 6 - 9 months you will start getting preapproved credit card offers from major companies. Be careful with those buggers. It's really easy to get in over your head. Only put on them what you can afford to pay off each month. Good luck!

Answer 4

Check your credit report you may be over extended to the major credit card companies. I would get some department store cards, they are easier to get. Then if you are still denied call the credit card company and ask them why. Especially since you own a car and have equity in a home. Oh and a job...that always helps.

Answer 5

If you have a job and are paying for a house ,
You do have credit . . .

So there is a serious flaw in this question ,
Unless someone typo'd your ID number on the CC application .

You went to college , you should be able to figure out the glitz . . .
And If you went to college , you should know that signing up for a Visa or MC is NOT the same as being approved .

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Answer 6

You can still be assaulted by credit card companys now. They'll just turn you down once you apply. Pay all your bills on time or ahead of time for six months then apply for a store credit card like target or old navy and pay those on time or ahead of time full balance for 2 months then you should be golden.

Answer 7

A Credit card for people with bad credit is a form of borrowing that often involves charges. So it's wise to compare terms and fees before you agree to open a credit or charge card account. Try looking for a credit cardwhich credit cards you should apply for? Shop around because not all credit cards for people with bad credit are created equal.

Answer 8

You need to start with store and gas credit. Sears. Pier 1, Target, anywhere that will give you a card at the checkout - and 10% off your first purchase.

Answer 9

Forget the credit cards; Pay cash. You'll be much better off in the long run.

Answer 10

There are also several companies that issue credit cards at a higher rate to people who need to start credit records such as Orchard Bank see - http://www.hsbcusa.com/personal/credit_cards/orchard_mastercard_product_info.html