Credit Tips: Common Reasons for Credit Card Denial

Posted On: February 1, 2006

Author: brie4901
Posted: Thu Oct 16, 2003 4:03 pm
Post subject: Common Reasons for Credit Card Denial

Hello everyone! I am in need of some help:

I can not get a credit card from anyone! Im 18 and I have ALOT of inquiries on my credit. I just started college and I have a brand new car(my dad cosigned who has excellent credit) and cell phone in my name, but neither of them are on my credit yet. Is there any hope for me getting a credit card, or have I spoiled all of my chances by applying for everything?!?!

Author: Guest
Posted: Fri Oct 17, 2003 3:23 am
Post subject: Common Reasons for Credit Card Denial

Ask your Dad to cosign you a credit card first. After a year or so, apply your own card. Your Dad’s excellent credit history might boost your credit score and credit worthiness. But remember to pay your bills on time.

Author: Aisha
Posted: Fri Oct 17, 2003 4:21 pm
Post subject: Common Reasons for Credit Card Denial

:wink:Your income to debt ratio and the many inquiries might be why Your best bet instead of putting someone else in your quest is to go for a secured card where you put a deposit and they give you a card for a certain amount, you pay monthly and make sure it is a bank that reports to the CRAs monthly. Use a good bank or CU, and stay away from first premier. Another option if you are a full time student would be to try for a student card, but I’d wait about six months from all of those recent inquires before I try this avenue Good luck to you

Author: Aisha
Posted: Fri Oct 17, 2003 4:27 pm
Post subject: Common Reasons for Credit Card Denial

Don’t fall for direct merchant bank either; or any of these offers of credit card for a one time large fee, they are bogus. Getting, maintaining and keeping a credit card and good fico score is no “game”, it takes dependability, maturity, and accuracy to obtain the key to good credit; and may I suggest you use credit wisely, pay on time, not exceed 30% of your credit line, and order your credit reports periodically to make sure there are no mistakes on your credit reports