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  1. #1
    Join Date
    Feb 2003
    Location
    Albany, New York
    Posts
    3,026

    Why cant I get a Credit Card??

    Hey all!

    I am 18 years old. I have tried 3 times to get a Credit Card and I kepp getting denied. I have a good job and have always had a job for at least 3 quarters of the year since I was 14.

    I have a friend who is 20 and doesnt have a steady job and doesnt make vary much money and has bad credit and just got another Credit Card like 2 weeks ago!

    Any idea's?


    Thanks.

  2. #2
    Join Date
    Dec 2002
    Location
    Texas
    Posts
    424
    file bankruptcy, you will get flooded with credit cards

  3. #3
    Go get a free credit report... It will tell you why..
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  4. #4
    Join Date
    Jan 2004
    Location
    Ontario, Canada
    Posts
    2,270
    Have you gone to your local bank? Are you trying to get a certain type of CreditCard? I can understand them turning you down if you want a really high credit limit. But usually they will give a low credit one, like $500 to start.
    Greg Lubbelinkhof

  5. #5
    Join Date
    Aug 2000
    Location
    NYC
    Posts
    6,623
    Originally posted by Carp
    I am 18 years old. I have tried 3 times to get a Credit Card and I kepp getting denied. I have a good job and have always had a job for at least 3 quarters of the year since I was 14.
    That doesn't matter at all. Your work history or anything else before you're legally an adult is irrelevant. Most likely the problem is that you have no credit history, and you don't fit into any of the groups that would be pre-selected for a card (entering college, for example).

    Try applying for a department store or gas station card, or a card from any big retail chain. Generally they're easier to get approval for, and they'll report your payment history so you build a credit score. If you can't get them, there are a number of "secured" card providers that do credit reporting, but you'd have to put some money in savings with them to get the account.


    I have a friend who is 20 and doesnt have a steady job and doesnt make vary much money and has bad credit and just got another Credit Card like 2 weeks ago!
    However it happened, he got that first one. Once you get one it's very easy to get several.

  6. #6
    Join Date
    Mar 2004
    Location
    Greater Chicagoland
    Posts
    181
    I got a Visa when I was 16/17 with a $1000 limit, but that was through my parents. It helped build up my credit and it stayed good for awhile. Now I'm surprised stores take my cash...

  7. #7
    Join Date
    Dec 2003
    Location
    Miami, FL
    Posts
    3,262
    CREDIT CARDS ARE BAD. DO NOT GET THEM. I REPEAT, DO NOT GET THEM!!

  8. #8
    Join Date
    Feb 2004
    Location
    Fort Worth, TX
    Posts
    2,586
    JayC gave some very good advice, to a very good question. A lot of people just entering their 20's have no idea how to get a credit card, and get quite frustrated when they are denied.

    A Home Depot, Sears, Wal-Mart type of places are very easy to get an in store "credit", which will show on your credit report. Not that is has a big impact on your credit score but keeping a good amount of flowing money in your checking and savings will also help. Especially if you apply for a credit card through your own bank.

    Another really good way to build credit when you are young, is having your parents co-sign a car loan. Pay off the loan as fast as you can, and this will boost your credit rating quite fast. I paid off 4 car loans before I was 24.. and this majorly boosted my score.
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  9. #9
    Join Date
    Jun 2003
    Location
    FT Worth, TX
    Posts
    5,096
    CREDIT CARDS ARE BAD. DO NOT GET THEM. I REPEAT, DO NOT GET THEM!!
    Credit Cards aren't bad at all. Its when you abuse them is when they're bad. If you use it to make small purchases such as $300 and pay it off the next month without incurring little or no interest at all. In the end it helps you stay out of debt and builds up your credit.
    Kerry Jones

  10. #10
    Join Date
    Feb 2004
    Location
    Fort Worth, TX
    Posts
    2,586
    I agree with Kerry Jones, its only bad if you don't use them properly. It seems a lot of young people spend a bunch of money on their credit card, without being able to pay it off.

    Putting money on your card and not dealing with it for a month is one thing.. 29.9% APR is another.. haha
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  11. #11
    Join Date
    Jan 2004
    Location
    Ontario, Canada
    Posts
    2,270
    As a few have said CreditCards are only bad when you don't have self control. If you use it like a debit card and don't spend money you don't have you'll be fine.
    Greg Lubbelinkhof

  12. #12
    Join Date
    Oct 2002
    Location
    Roswell, GA
    Posts
    508
    most banks offer secured credit cards for those starting out wanting to build credit.

    Usually you give them a deposit of the amount you want your limit to be... so say $200 credit limit, give them $200 deposit. After some point (6 months to a year) you can then get a real credit card and get your deposit back.

  13. #13
    Join Date
    Nov 2002
    Posts
    4,667
    https://www.annualcreditreport.com/ will give you a free credit report - no strings attached - this is the only legitimate free credit report site - established by the credit bureaus because of government legislation.

    You don't have a credit history - which can be worse than having a bad credit history. To get a credit history try a secured card or get a monthly cell phone plan - I understand that these get reported to the credit bureaus. You can get secured cards on the internet but your local bank (ie Chase) will have much better rates and fees.

    Contrary to popular belief it is not easy getting a credit card from a dept store if you have no credit file. The stores have automated systems that check your file and if you don't have one - or its empty - it is instant denial.

  14. #14
    Join Date
    May 2005
    Location
    Sydney, Australia
    Posts
    876
    I can relate to your experience - I always had difficulties getting a credit card in New Zealand even though I had good savings and an about average income - even though so many people with no savings and a lower income found it easy to obtain credit.

    Since I've moved to Australia I've been declined once as I haven't been in a job over here long enough (3 months) and they don't take into consideration past employment from other countries. But I now have a Virgin credit card with a good limit but I only use it for the interest free period and keep my money in a high interest account until it's time to pay.

    Credit cards are a good facility but as mentioned if you abuse them you will get yourself into trouble. Only spend what you can afford and if necessary ask your credit card company to decrease your limit so you're not tempted to spend it all.

  15. #15
    Join Date
    Sep 2003
    Location
    Saskatchewan, Canada
    Posts
    946
    Where are you trying to get a credit card from? Are you trying from the bank you do all your banking from?

    I requested a credit card on the day of my 18th birthday. Yes the day. Sad I know.
    I was accepted though without delay.

    Maybe phone them up and ask directly.

    You were probably denied because of a lack of credit rating. If so maybe think of someone with a good credit rating that could guarantee the application.

  16. #16
    Join Date
    Aug 2002
    Posts
    1,596
    Hey! Some store, such as blockbuster, required you to have a credit card before you can have a member card. When I came to register for membership last December, they want a credit card so that if I don't pay them, they will take the money from my credit card.

    No, dont get one. Just spend the cash. Don't worry about getting cards to pay interest for.

  17. #17
    Join Date
    Sep 2003
    Location
    Saskatchewan, Canada
    Posts
    946
    Credit cards are excellent at giving you a credit rating.
    Just don't spend a lot. If you must, set the limit low so if you hit your limit you can pay it off.

    You don't have to pay interest on credit cards unless you don't pay them. It's as simple as that.

  18. #18
    Join Date
    Dec 2001
    Location
    Toronto, Ontario, Canada
    Posts
    6,896

    Re: Why cant I get a Credit Card??

    Originally posted by Carp
    Hey all!

    I am 18 years old. I have tried 3 times to get a Credit Card and I kepp getting denied. I have a good job and have always had a job for at least 3 quarters of the year since I was 14.

    I have a friend who is 20 and doesnt have a steady job and doesnt make vary much money and has bad credit and just got another Credit Card like 2 weeks ago!

    Any idea's?


    Thanks.
    Someone has to say it, might as well be me.

    You cant get a credit card, because you ask somewhere stupid like WHT, instead of asking somewhere relavent, like a bank or credit union .

    Pretty soon, on the path the WHT lounge is flowing, we're going to be reading "why cant I get it up?" threads
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  19. #19
    Join Date
    Jan 2002
    Location
    Boston
    Posts
    5,014
    Also remember the more credit card requests you have on your credit which are listed as 'inquiries' the lower your rating goes. I would get a $200 secure card as others mentioned wait a year and then if you manage that good you should be able to get a decent card.

    I used to think they were really evil also but I learned how to manage them correctly and I don't get myself stuck in a hole. I use my credit cards for pretty much every purchase over $50 I make and I pay it off that month and when I spend it I put the money aside so I can pay it as soon as the bill comes in. I have been doing this for a few years and my credit rocks now and it has helped me more than you could imagine on getting better rate for car loans and mortgages at much better rates than if I had no or bad credit.

  20. #20
    Join Date
    Jul 2001
    Location
    .INdiana
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    2,465
    if you're getting turned down for a normal card, get a secured credit card

  21. #21
    Join Date
    May 2005
    Location
    Sydney, Australia
    Posts
    876
    .

  22. #22
    Join Date
    Aug 2004
    Location
    Los Angeles,CA
    Posts
    789
    Do you have a bank account?
    If you don't, go and open one.
    Simply having a bank account can be alot of help for establishing credit.

    Also apply for those credit-cards aimed at college students.
    Some of those don't even require you to have a job.

  23. #23
    Join Date
    Jul 2003
    Location
    Goleta, CA
    Posts
    5,566
    Yeah take a cc with a really horrible interest rate. Carry a balance for a small period of time and build up your rating. The ccs with putrid interest rates are easy to get.
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  24. #24
    Join Date
    Aug 2003
    Posts
    2,172
    Credit cards are excellent. It's a quick way to get some money when you're in a bind, and its very safe compared to cash. If someone steals your credit card, you can quickly cancel it and reverse all charges. If someone steals your cash, you're SOL So now you ask, why not a debit card? Well, I personally dont like debit cards much because of overage fees. My debit card has an overdraft fee of $29 for every 5 days in the negatives. With a credit card you can pay almost nothing or nothing in extras for 30 days

  25. #25
    Well i got me a sprint cell phone, to try and build up some credit, i had to pay a deposit and activation fee, i hope to get my credit built. I turned 18 in may... so im trying to get credit, because it is good to have credit to get a car, house...etc..

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