Rejection

By creditwhore - 24/02/2010 19:13 - United States

Today, I decided to apply for a credit card to help build up my credit rating. It seemed smart since I'm a 24 year-old college graduate. I was rejected for not having a credit history. Being rejected turns out to hurt your credit history. The irony of my predicament is too great for words. FML
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Top comments

idkweird 0

I don't understand this at all. Credit Card companies used to have people on my college campus all the time because, since most of us didn't have a credit history, it was easier to get credit cards. Here's my advice. Open up a secured line of credit with your bank. You give them a certain amount of cash, and they put it on a card for you. That card works like a credit card on your credit score, but you don't get into crazy debt over it. It's prepaid.

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Zwingend 15

Depending on who you're banking with you can get this card that is sort of your training wheels for the future. You put 200$ in an account then they give you a card with a 200$ limit to use. If you use this card correctly they will then give you a full fledged credit card. Look into it, it sucks but in the end it's worth it.

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Comments

runner06 0

The same thing is happening to me as well. I really regret not applying for a student credit card when I was still a student...a ton of my friends still in college have gotten student credit cards, when they are the ones who REALLY shouldn't have them. Another option if you still have crappy luck is go to a community college and take a class for kicks and maybe then you can get a student card. That's my next option I think!

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idkweird 0

Go to your bank and do a secured line of credit. It works just like a credit card with your credit score. Way better than having a credit card and the temptation to go into debt.

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fixxxer_fml 0

Hit up a secured credit card... you deposit the whole worth of the card. Use it, and pay your bills... do this for a year. Voila.. CREDIT!!. Search "secure credit card" if you're unsure what it is. Sorry to idiot proof it, but you never know who's reading on the other end.

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voicescarrie 0

Getting rejected doesn't hurt your credit, only the presence of an inquiry. And in reality, it doesn't hurt that much unless you have many (at least 7) inquiries.

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rockstatic 0

OK, for starters, if the irony is too great for words, stop talking. Second, congrats on being a college graduate. Did you know there are different kinds of credit cards? If you applied for a Visa Diamond as your first-ever card, they would reject you for not enough credit history. Third, that's not irony, that's you assuming the world revolves around you and not realizing you just made a mistake. Here's what you should do: apply for an easy-to-get card (don't you get "pre-approved" cards in the mail?), pay off all your balances on it on time for six months, and then apply for a better card. If you don't know how to find an easy-to-get credit card, go to this site: http://www.lmgtfy.com/?q=what+are+easy+credit+cards+to+get+approved+for%3F

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antiauk 0

Try Citibank, they'll give a card to anyone. I was in the same situation myself a couple of years ago, and now the card offers won't stop...it's like I'm 16 again.

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Hermyoni 0

Need a car buy a used one and upgrade it yourself. Plenty of places rent to people with no credit you might just have to pony up more deposit that is if they even actually check your credit score. Buying a home can even be done with no credit though it's slightly trickier but with no credit and perfect reputation with your bank could get you a loan. Again credit is not the be all and end of life. Good luck with whatever you choose.

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Panther_fml 0

Being rejected does not affect your credit score. You were only rejected as you did not have any previous credit history, therefore you are classified as a risky person.

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TheVagabond_SRG 12

Actually, any inquiry that any institution makes into your credit history will drop your score slightly (it becomes significant if it happens a lot at once though). Also anyone without credit is deemed at risk by most companies.

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TheVagabond_SRG 12

Credit cards don't really build up your credit for large purchases, it wont help enough for you to get a car or house loan later. If you are looking to build your credit your best bet sadly is buying a car from a dealership, or something that requires a bank loan. However I would make sure you have 3/4 or at least half of the total cost of the car as a down payment.

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jaylmor 0

why don't you just do what everybody else does to build credit? like a cell phone bill...

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alexFYL 11

I couldn't even get a cellphone when I was 21, they said I didn't have enough credit history and declined me. I LITERALLY had the cash IN MY HANDS to prepay for an entire year and the downpayment or whatever, but they declined me.

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