No Credit History Searching for Credit Card Offer

Guest: Fess
Post subject: No Credit History Searching for Credit Card Offer
Posted: Wed Nov 03, 2004 3:50 pm

Hello,

I've been trying to get my mother a credit card for a couple of months now.

She has no credit history at all.

I tried to go through her bank, Astoria Federal Savings but she was denied.

I then attempted to have her apply for Macy's & JCpenny department store card but it yielded no results.

What are my options now to get her to start building credit.

We'd like to start so we can purchase a house in the future.

Please advise me on a direction to folllow....

Thank You
Fess

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Guest: Kamperkatt
Posted: Wed Nov 03, 2004 7:30 pm

I would think a secured bank card would be the way to go. Be careful though, they have fees and annual charges.....but it is a way to get started.

Since buying a home is asking for secured credit, it may prove easier than you would think.

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Guest: Fess
Posted: Thu Nov 04, 2004 9:27 am

Kamperkatt,

Thanks for the input.

I've read about the "secured bank card".

I don't like the fees and such the come with that option.

Maybe I'll just have her switch to citibank becaue Astoria Federal sucks.

Fess

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Guest: fotomaniak
Posted: Thu Nov 04, 2004 10:14 am

Adding your mother as an authorized user to your cards may help. No guarantee that it will, but it won't hurt(unless your credit history is not good)

PS My wife has been in US only for less than 3 years, I've added her to most of my CCs and she have gotten about 5 CC in her name already(3 from Citi, 1 from Chase, 1 from Discover) + one store card.

I don't know if adding her as authorized user was the only factor, but it certanly helped in our case. When we pulled her report most of my CCs shown up.

Last edited by fotomaniak on Thu Nov 04, 2004 3:26 pm; edited 1 time in total

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CardRatings.com is the most comprehensive source for comparing credit card offers.  Please visit CardRatings.com to view the best rated credit cards!

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Guest: Board Monitor
Board Monitor/ Administrator
Posted: Thu Nov 04, 2004 3:09 pm

Fess,

Thanks for your post and welcome to the board! Secured cards will probably be a much cheaper option than a regular/ unsecured option for your mother since she has no credit history. You can learn more about secured cards here:

http://www.cardratings.com/freepersonalfinancecontent.html

Please let us know how things turn out!
_________________
Best Regards,
Curtis Arnold
Board Monitor
http://www.cardratings.com
(501) 663-0314

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CardRatings.com is the most comprehensive source for comparing credit card offers.  Please visit CardRatings.com to view the best rated credit cards!

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Guest: Fess
Posted: Fri Nov 05, 2004 8:27 am

Curtis, fotomaniak

Great advice! I'll carefully explore both your suggestions and see which is more plausible to my situation.

Thank You
Fess

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CardRatings.com is the most comprehensive source for comparing credit card offers.  Please visit CardRatings.com to view the best rated credit cards!

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