Credit Tips: Why Was I Denied for Credit Cards?

Posted On: July 9, 2006

Author: michael90002002
Posted: Sun Jul 09, 2006 6:29 pm
Post subject: Help…please…

I’ve been denied three times so far for a cc. Walmart, Dell, and Hewlett Packard all denied me in less than five secs. I don’t understand why. I’m 18 and I work full-time(I started 3 weeks ago). Since November I’ve had a cingular pay-as-you-go cell phone(I had to give them my ssn#) in my name and it’s still turned on. I even got a debit mastercard that i’ve been using for about six months now(I had to give them my ssn# also). It may be because I owe like $8.20 to that debit mastercard company because of the montly fee but I just cancelled my account from them because I don’t need it anymore.

Last night before I went to bed, I filled out a capital one cc app. but they still haven’t let me know if its approved or denied. The only reason why I tried Dell and Hewlett Packard was because I’m looking to purchase a notebook pc and I know for a fact I can pay it off in a month. I don’t even know what to do. I was planning on getting a cc now so I can start building up my credit early because i’m getting a loan for a car next month.

I am a jr. so do you think I should include the jr. part after my last name or just leave it off completely? I guess i’ll try best buy or try to get a citi cc. Any tips or advice?

-Thanks In Advance-

Author: michael90002002
Posted: Sun Jul 09, 2006 6:34 pm
Post subject:

Also I got another question. I’m not in college rite now nor to I plan to anytime soon(sometime next year and community college at that). My question is, can I still get a student cc with me not being in college right now?

Author: jamric
Posted: Sun Jul 09, 2006 6:45 pm
Post subject:

If you want to raise your credit score, and improve your chances for credit cards, try to become an authorized user of someone else’s credit card who has a prompt payment history and a low credit balance. This will automatically raise your credit score. That’s when I would apply for a credit card, after the AU credit card history has been reported to the credit bureau. You don’t even need to have the credit card that is issued. They can cut it up when they receive it in the mail.

If you are going to apply for a credit card, I would apply for a Target card myself. They seem to approve pretty much everyone (but wait for some other people to give you their take before you apply for that one). Remember, you don’t want to apply too many times because the number of inquiries on your credit report will be detrimental to your credit score.

When I applied for student credit cards years ago, you had to include the name of the institution you attend, so I believe yes, you need to be in college to apply for such a card.

Author: ajb
Posted: Sun Jul 09, 2006 6:55 pm
Post subject: Why Was I Denied for Credit Cards?

One way I watched my credit score jump leaps and bounds from 18 to 20 was by taking one monthly subscription fee ($20), and putting it on one card that is designed for that sole purpose. Every month, pay it in full, and the next month, the same. I did it for 14 months, and after that I was able to get a bunch of 12 month 0% APR cards which I did similar things with.

I’ve found that Citicards will approve you if you have an income and decent credit, and providian (ugh) will apporove you with nothng to show but a job.

It just takes time. Don’t screw up and go into debt, and you should be watching your FICO raise steadily.

Author: michael90002002
Posted: Sun Jul 09, 2006 7:06 pm
Post subject: Why Was I Denied for Credit Cards?

Thanks for the help….What about the jr. thing? I’m a jr. so do you think I should include the jr. part after my last name or just leave it off completely? I’m just curious because on my license it includes jr. but on my paychecks it doesn’t include jr.