Credit card noob with a question

[_chuchu]

Store brand will usually deny you without credit. Trust me on going the boa route. You'll just need to put ~$100 in a savings account for a year and then you'll get your money back

[Ksandra]

Store brand will usually deny you without credit. Trust me on going the boa route. You'll just need to put ~$100 in a savings account for a year and then you'll get your money back

chuyu you don't need a savings for a boa cc. having an account will not increase someone's chances of getting a cc. I worked for them for two years, trust me on this one.

the big thing with talking with a banker is to hope if they are low on cc for the month they'll tweak your income n' such so they can get the credit.

(actually this week IS a good time since it's towards the end of the month) Bankers have to make a goal each month to get their quarterly bonuses. try to go to a bank in a lower income area >.>; they get the same goals as everyone else in their market.

[Omnipotent]

Went to BoA today, tell you how it goes in around 10ishishish days.

[Omnipotent]

ohi, denied from BoA. I'm pretty much a terrorist or an illegal immigrant.

[Ratatapa]

Okay, so full interest on the $500, not on the $100 remaining? Weird.

I know it's far but w/e

I have mastercard here and this is how it works

Exemple i have bought for 1000this month.

And at the end of the month i paid 900$

The next month interest will be for the full 1000$ so watch your stuff.



Also a tip i can give you for CC, i know it sound dumb but alot of people don't think it that way.

a Credit Card is not free money, before buying something with it, make sure you will have enough money at the end of the month, if not well don't buy it!

[Ksandra]

ohi, denied from BoA. I'm pretty much a terrorist or an illegal immigrant.

this is really really weird, there's no reason you shouldn't have gotten approved. I would see about calling customer service on this and talk to higher ups if possible. Seriously think there's some ding on your credit that you don't know about. like 95% of students that get that CC have 0 credit as well.

[Omnipotent]

this is really really weird, there's no reason you shouldn't have gotten approved. I would see about calling customer service on this and talk to higher ups if possible. Seriously think there's some ding on your credit that you don't know about. like 95% of students that get that CC have 0 credit as well.

It's a little ridiculous. At this point, and I say this with the straightest face, without sarcasm. I have been denied from every student credit card company, and 3 banks INCLUDING my own. I have never had any debt, I have never missed payments. At this point I don't know what to do. I guess I am that 5%. I have also checked me credit report and nothing is on it that implies misuse or stolen credit. What about co-signing? Will I still get the credit to my name is my parents co-sign. My parents have a 800 or something credit score.

[Ksandra]

It's a little ridiculous. At this point, and I say this with the straightest face, without sarcasm. I have been denied from every student credit card company, and 3 banks INCLUDING my own. I have never had any debt, I have never missed payments. At this point I don't know what to do. I guess I am that 5%. I have also checked me credit report and nothing is on it that implies misuse or stolen credit. What about co-signing? Will I still get the credit to my name is my parents co-sign. My parents have a 800 or something credit score.

co-signing will definitely help, and might be your best option at this point, try contacting one of the bankers you talked to and let them know you were denied and want to see about having your parents co-sign, and see what they say about it.


Only other thought I have is if you've applied to a bunch at once, anytime you apply it dings your credit for like a month, maybe that's why? :X

[Omnipotent]

co-signing will definitely help, and might be your best option at this point, try contacting one of the bankers you talked to and let them know you were denied and want to see about having your parents co-sign, and see what they say about it.


Only other thought I have is if you've applied to a bunch at once, anytime you apply it dings your credit for like a month, maybe that's why? :X

Might be it, would apply once every 2 weeks, which was the amount of time it took for a responce. Ruh roh.

[Seraph]

Might be it, would apply once every 2 weeks, which was the amount of time it took for a responce. Ruh roh.

I applied for a card through my bank recently, and the rep told me that even if I was rejected by the automated process, I could go back to them and have them manually push it through, since I have had such an outstanding 10+ year relationship with the bank. Try going back to your bank, explaining your issues, and assuming you haven't had any problems with them in the past they might be able to pull a few strings to get you hooked up with a decent card. Just remember to be extremely polite even though the whole thing makes you want to toss a brick through the window.

[Ksandra]

Might be it, would apply once every 2 weeks, which was the amount of time it took for a responce. Ruh roh.

lol ya that might be it actually. ANYTIME a company takes a look at your credit it dings you for a bit. Shit is completely retarded, but it is what it is. If for any reason you don't want to have your parents co-sign, talk again to a banker and see when that stuff resets. I do believe it's a month but I could be wrong on that. Whatever timeframe the banker gives wait until then to reapply.

[edit] wiki answers give this:

http://wiki.answers.com/Q/Does_apply...urt_your_score

Every time you apply for credit and a creditor pulls a report it hurts your FICO score. The rule is to have no more then 6 inquiries on your credit report with in six months. They say a hard inquiry pulls your score down 3-5 points. There are 2 different inquiries hard and soft. A soft inquiry is when you pull your report or a creditor you already have pulls it to make sure you still have a good profile. The hard inquiries are the ones that hurt your score. It means that you are applying for credit.

so maybe 6 months :/

also found this:

http://ezinearticles.com/?How-Does-A...Me?&id=1456139

How does applying for a credit card hurt my credit score?

Every time you apply for a credit card, the credit card company makes an inquiry into your credit report. These are also known as hard pulls. Each of these credit inquiries or hard pulls, take away around 5 points from your credit score.

The rationale behind taking away points from your credit score when you apply for credit, is that, it is harder to control multiple lines of credit when compared to just a few. It also shows a tendency that leans towards getting excessive credit and then getting into a spending spiral, which may become difficult for you to get out of and as a result your chances of default become high.

These inquiries show on your credit report for a period of one to two years, but the dent in score itself will be rectified in about a couple of months, if you do not abuse your newly available credit.

If your credit application gets approved, then your score will rise fairly quickly because the additional line of credit will give you a boost. Along with this, your 'debt is to available credit' ratio will also improve and that will help boost your score too.

Be aware of the credit application spiral

The people who are worse hit are the people whose credit application gets rejected. When their application gets rejected, their score goes down. However, since their application has been rejected, they apply again thereby reducing their score further and chances are that they will get rejected once again. This is a vicious circle and if you get into this kind of thing four or five times, then your credit score takes a bigger hit.

So be careful, and next time you are tempted to apply for that store credit card that will give you $10 off on a new shirt, think twice!

so ya, maybe applying to too many in a short period is what killed you. I will still talk to a banker cause can only trust wikianswers so much, and you may not have to wait 6 months. If you do though and want a CC now, then you'll probably need your parents to cosign

[Omnipotent]

I applied for a card through my bank recently, and the rep told me that even if I was rejected by the automated process, I could go back to them and have them manually push it through, since I have had such an outstanding 10+ year relationship with the bank. Try going back to your bank, explaining your issues, and assuming you haven't had any problems with them in the past they might be able to pull a few strings to get you hooked up with a decent card. Just remember to be extremely polite even though the whole thing makes you want to toss a brick through the window.

My bank sold their credit card rites to some scotish banking system. So it isn't through them, just has their name.

[Seraph]

My bank sold their credit card rites to some scotish banking system. So it isn't through them, just has their name.

Oh man, that sucks. Sorry... :-/