I'm 19 years old and have no credit. The only credit cards I ever have a chance of getting I have to pay between$200-$500, why? A lot of my friends say they got credit cards and didn't pay a dime. Meanwhile when I turned 18 I sent a company called National Credit Shopper $200 and they never sent me the Visa card they promised, it's been a year. Anyway I've applied for everything, including stores and no one will give me a credit card. What do I do? Please help me!
If you're in college you should be able to get a card easily. If not, it's more of a challenge to get started. Before doing anything though, check your credit reports with all three CRAs and make sure they are accurate. You could be getting shot down because something is on your report that doesn't belong to you or shouldn't be there. You are entitled to a free report if you've been denied credit. Try a credit union. You may have to start with a secured account. Just make sure they report to the big three. It's better if the card doesn't report as secured. After a year, you should be able to get unsecured credit. In two years, you will be able to get prime credit with decent limits and rates. Let us know how this works out for you.
I actually got my first credit card at 20 yrs old. Like you, I actually attempted to get a credit card at 19, but nobody would give me one, not even a department store and was due to not having any previous credit history. I remember thinking "How can I get a credit history if nobody gives me credit?". Anyway, I finally solved my dilemma by signing up with a local credit union and making an appointment with a loan representative. I told them that I wanted to establish credit and would like their help. In my case, I was required to place $500 into a secured account, they were then able to give me a small personal loan for $500 dollars with a payment plan to pay back in six months. After the six months, I did it again. This time the credit union gave me a loan for $750 dollars, while still holding onto my $500 to pay over six months. After a year with two paid loans, the credit union gave me my money back by simply depositing the $500 I used to secure the loans into my savings account. They then gave me an unsecured credit union mastercard with a $250 dollar limit. I also then reapplied with the department store that had turned me down a year before, and this time they approved me. Certainly it was only a $100 limit, but it was a start. A year after having both those cards, I was able to obtain an unsecured Discover card with a $500 dollar limit. My credit history just grew from there. Over the past ten years since, I have obtained several more cards. I still have my credit union mastercard and it is my lowest credit line at $3500. I think I just keep it as a memento as it was my first real credit card. I still have my Discover, only now it is a Platinum card with a credit line of $10,000. I also have similar credit lines with American Express Blue and Citibank Platinum. I have also had two car loans and have obtained two mortgage loans. So as you can see, it is possible. You just need a start, and In my opinion, a credit union is a good place to begin. Good Luck "Home is, when you go there, they have to let you in..."
Thanks a lot for taking the time to answer my question and help me. I'm going to do that. That's the best advice I've gotten at all. You are awesome, thank you so much. I will do that and let you know what happens. Thanks again, you are great.
Thank you for that great advice. I'll do that. You guys are all so wonderful. Now I have an idea of what to do. A type of direction, thank you!
