Try Department Store Credit Card to Build Credit History
Guest: wierdo
Post subject: Try Department Store Credit Card to Build Credit History
Posted: Wed Aug 16, 2006 11:27 pm
Dmoney wrote:
I've tried the exact same thing you did and it did not work. MBNA is rough and they do not trust "new credit heads". My suggestion is trying to get a department store card, getting a secured card, or a credit card with garaunteed approval (the fees will suck though, but if you have an excellent banking history $150-$250(setup fees) should not be an issue).
There should be no need to pay a bunch of money to get a card. While the OP should expect to have annual fees and high interest, there's no need to take some scam card like a First Premier or one of the CompuCredit/Columbus Bank offerings.
Personally, I got lucky with Citi, as they had an online-only card they were willing to approve me for, even with 4 or 5 inqs and nothing else on my report, but that was 8 years ago.
Take a secured card from someone who doesn't run a sleazy operation. A gas card or store card might be the place to start. If nothing else, get a Crown Jewelers account, since they don't run a credit check, but will report after you buy something from them. At least then you have something to show for your money.
Once that's on there, some halfway decent lender like Cap1 will probably approve you, and a year or so after that a prime lender will probably approve you for something decent.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: jlrdc909
Credit Expert (100+ Posts)
Posted: Thu Aug 17, 2006 6:10 am
NO!!!!!!!!!!!!!!!!!!!!!!!!
You might think because you have X # of $'s in an account that the bank will look on you better than a non banking customer, but it is not the case.
When applying for a CC from your local bank, they are going to look at you like every other "Joe", and evaluate you income, history, etc, etc.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Board Monitor
Board Monitor/ Administrator
Posted: Thu Aug 17, 2006 8:50 am
This is why folks making 250K+ a year get without any debt get denied credit!
_________________
Regards,
Curtis Arnold
Board Monitor
http://www.CardRatings.com
20K+ Credit Card Reviews
Sign up for our free monthly e-mail newsletter!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Post subject: Try Department Store Credit Card to Build Credit History
Posted: Wed Aug 16, 2006 11:27 pm
Dmoney wrote:
I've tried the exact same thing you did and it did not work. MBNA is rough and they do not trust "new credit heads". My suggestion is trying to get a department store card, getting a secured card, or a credit card with garaunteed approval (the fees will suck though, but if you have an excellent banking history $150-$250(setup fees) should not be an issue).
There should be no need to pay a bunch of money to get a card. While the OP should expect to have annual fees and high interest, there's no need to take some scam card like a First Premier or one of the CompuCredit/Columbus Bank offerings.
Personally, I got lucky with Citi, as they had an online-only card they were willing to approve me for, even with 4 or 5 inqs and nothing else on my report, but that was 8 years ago.
Take a secured card from someone who doesn't run a sleazy operation. A gas card or store card might be the place to start. If nothing else, get a Crown Jewelers account, since they don't run a credit check, but will report after you buy something from them. At least then you have something to show for your money.
Once that's on there, some halfway decent lender like Cap1 will probably approve you, and a year or so after that a prime lender will probably approve you for something decent.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: jlrdc909
Credit Expert (100+ Posts)
Posted: Thu Aug 17, 2006 6:10 am
NO!!!!!!!!!!!!!!!!!!!!!!!!
You might think because you have X # of $'s in an account that the bank will look on you better than a non banking customer, but it is not the case.
When applying for a CC from your local bank, they are going to look at you like every other "Joe", and evaluate you income, history, etc, etc.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Board Monitor
Board Monitor/ Administrator
Posted: Thu Aug 17, 2006 8:50 am
This is why folks making 250K+ a year get without any debt get denied credit!
_________________
Regards,
Curtis Arnold
Board Monitor
http://www.CardRatings.com
20K+ Credit Card Reviews
Sign up for our free monthly e-mail newsletter!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 2:33 PM
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