Credit Problems?

Question

I'm 21 years old and have been trying for over a year to get a credit card, and no matter what credit card I apply for through whatever company, I always get declined. I have no idea why. I was wondering who I can contact about this? It's really an obnoxious situation and I just want to get it sorted out.

Answer 1

Go to your own bank and talk to a loan officer, they will pull your credit report and tell you what you are doing wrong.

You can always get a secured card and start with that. Also at your local bank.

Answer 2

When you get a letter of rejection it will state on there which credit scoring company they used. You can write them and get a free credit report from them because you where turned down then you can find the reasons. Every time you request credit and they do a check you lose 5 points, and the checks on credit remain on you score for 24 months. First find out why

Answer 3

well first thing your doing wrong is keep applying for cards that lowers what ever credit score you have go and see if you can get a chase card, or see if you can link with your parents or something don't spend money on that card wait a few months then try getting a card there credit score will transfer to you and both of you will get the same score
never spend more then 40% of your limit and ALWAYS pay it off in full

Answer 4

First of all, you need to get a copy of your credit report, take a look at it, and make sure there is nothing amiss. In a worst case scenario, someone may have stolen your identity, got a card or loan in your name, and never paid it back. You can get a free copy of your credit report here:
https://www.annualcreditreport.com/cra/index.jsp
Also, most credit card rejection letters tell you why they are refusing you a card. If you are not seeing a "why" in the letters, pick up the phone and call and ask why.

Answer 5

a prepaid card scores over credit cards especially if the owner has a not so perfect credit history.

The rejection is non existent in case of prepaid credit cards, there are no credit checks, no employment verification, and approval is guaranteed.

With a bit of dilligent shopping and comparision of various prepaid credit card offers, it is not difficult to find a prepaid card with no annual fees, no late payment fees, no repayments, and no penalties whatsoever. So, the ownership costs of a prepaid card can be negligible.

With prepaid cards it is very easy to promote financial discipline. Since you can only spend what you have, there is no overspending, and hence no debts.

Some prepaid cards do report their use to major credit bureaus and hence are a good instrument to rebuild credit history.

Prepaid cards have wide acceptablility, and in some cases they are even more readily accepted than credit cards. Apply online at: http://www.credit-card-gallery.com/PrePaid_Card.html

Answer 6

You probably have a low FICO score. Order your credit report from Experian, Equifax and Transunion. The reports will show you what exactly is wrong with your credit so you can fix it.

Also, work on paying your bills on time. That may or may not be an issue for you, but it is very important in your credit score.

Answer 7

You need to order a copy of your credit report to see what is showing on there. If they incorrect information on you, they have to help clear that up.

I know equifax is one of the main three agencies you can get the report from - try entering that into the searchfield with free credit report. Warning, do not sign up for anything, they are required to give you a no strings attached copy.

Answer 8

You must be doing something wrong, since credit company's love to get young people into debt

Answer 9

check your credit report, there might be something in there lowering your score. Sounds like someone might have been doing something in your name.

You are entitled to a free report each year, get it here:
https://www.annualcreditreport.com/cra/index.jsp

Answer 10

do you have a checking and savings account? if you do and you get a lot of over drafts, that might contribute to your credit score. just keep waiting...someone will accept you.