Hi, I just graduated from college and as crazy as this sounds I cannot get a credit card! I have applied all over the place and what they keep telling me is that I cannot get a card because I have NO CREDIT HISTORY. Now, if I have no history how am I supposed to start one? I always pay my phone and electric bill on time, and I went to college on scholarships and finacial aid. Can anyone please give me some advice on how to start a good credit history? -Esther
I STARTED WITH JC PENNEYS, SHELL GAS CARD, SEARS, MERVYNS... Back in the OLDEN' days (70's and 80's) they had you list 2-4 credit cards...so you got "CREDIT" toward approval even if they were NOT on the credit report...
Hi Esther, I was in your shoes 7 months ago, and thanks to people on this board I now hold gold and platinum cards. First off, stop applying for cards. Every time you apply for a card an inquiry is added to your credit report, which has a negative effect. Apply for a secured card. I have a Wells Fargo and a Capital One secured cards. They both report as if they are unsecured, which looks good to future credit grantors. I've heard that Macy's also gives unsecured retail cards without credit history. A retail card and one or two regular credit cards is a great start to your credit building efforts. After you get these cards, don't apply for ANYTHING for six months, after that time your current inquiries will have less effect, and offers will start pouring in. Patience is the most important thing here. -Roman
Roman, Thanks for the advice! I did not realize that the secured cards reported as though they were unsecured and can help you get good credit ratings! I also did not know that applying for cards and getting turned down makes you look bad, I applied for three cards so hopefully it's something I can make up for with good credit in the future. -Esther
Try getting someone to joint apply for a card with you.... Try getting to be an authorized user on someone else's cards....
