Thread: Establishing credit from nothing

Hi I'm new here, but that's not important. I am 18 years old and I'm trying to establish some credit but I'm not sure how to go about it. I applied for a capital one card online and was immediately turned down. I went through www.planetfeedback.com to ask why, and if there was something I could do to get some kind of card, however the financial representative guy was not much help at all. He said that the reason for me being turned down was because I didnt have credit. So I asked him if there was a student card or secured card that I could get and he said that it was possible but that I wasnt able to request for it, but that they had to send the application to me by their own free choice. He couldn't even promise me that my name would be added to their mailing list. So could someone give me suggestions on how I could get off the ground here somehow and start earning credit?

Thanks much,
BluePerson

Secured cards are a good way to go there are a ton of different cards out there to pick from. Also it has been said that if you have a bank or credit union that you go to maybe you can get a secured loan through them. Deposit x amount in your savings account then ask for a loan against what you have in your account. Then make the MO payment. I know how you feel hang in there and good luck

When I was 18, i applied for PROVIDIAN CLASSIC..i had no credit at any 3 cra's...Providian did not even want to pull a report...wanted me to send in the 99$ and copy of id and social security card.......providian gave me 500$ unsecured....after one year i told them i wanted an increase and lower apr to 16.9%...gave me cl of $1,400 and 16,9%....
im 23 now and have
amex blue
mbna plat plus
citi plat sel.
chase gold
provian classic

Tony V.
San Diego, Ca

If you go to a college/university, take advantage of all the student credit card offers. I remember getting one without any income, just having a checking and savings account. Just don't screw yourself once you get these cards.

Hi Blue Person :)

Don't forget to request a copy of the credit report from the CRA that turned you down for the Cap 1 card.

Also, read lots of information here and utilize the search option!

Hope you find some help here. There will be other 18 year olds who need this info in the near future! ;)

You might want to try a store/retail card. Just make sure that you let them know you're a student on the application.

so... I though a store card was just as hard to get...
does a student status really help a person building credit get a store CC? if so what are the recommended stores?
My wife (the one with the new credit) shops the following places. (old Navy, American Eagle, Hetchs, Dillards)

SO far she has a Cap1 STudent card 200CL
She is an AU on my Cap1 Sec card 500CL
plus she has two student loans that are still deferred(New loan accounts)

From personal experience, I would try Hecht's. The long application (not the in store instant) and for job put student. Don't know if this still works but it did in the recent past. Also, Express and the Limited like to approve students too especially Express. Even if she doesn't shop there often, there may be something she could buy occassionally and the card can be used at Bath & Bodyworks too. In fact, now that I am thinking about it either Express or Lerner (same corporation) had a program where if you showed them your student id they would process your app. right there presumably looking favorably on your student status.

thanks for the Tip.. its hard to remember the places she usually shops but I do recall Express being one of them..