New Credit

Discussion in 'Credit Talk' started by Dina, Jul 23, 2000.

  1. Dina

    Dina Guest

    I just turned 18 and applied for various different credit cards, and was accepted for only 3. Does not being accepted or being denied for credit cards ruin one's credit? Being that I have no credit in the first place, can this make things even worse?
    Thank you
  2. Mick

    Mick Guest

    Dina do not apply for any more credit wait about 3 months and try again. First find out if you have been approved for any of the three that you applied for. Second if you did not get approved dont dispair after 3 months try to find out if any of your banks in your area have a program for young adults with little or no credit then apply with that bank also check on the web sites and if you have any questions call the banks about the programs. Also department stores such as macys, target, mervyns, etc. are easier to get approved. And if you are a student there are some card programs available. Thanks and let us know what happens.
  3. Stormie

    Stormie Guest

    Hi Dina it sounds like your off to a great start . I would not be disappointed only being approved for three accounts at 18 years old. As you begin to establish your credit history you will be able to obtain other accounts. I would wait at leats three months perferably 6, before appling for any additional credit. This will allow time for all your new accounts to show on your credit file, and allow perspective lenders to see some payment history. Also too many credit inquires can be detrimental. They are usually counted for at least the first 6 months, after that they seem to lose their impact. Good luck in building your credit. I would apply for a few department stores later, like Sears, mervyns,target,kmart,or even some gas cards like chevron or texaco. Keep us posted on your progress. Were here to help you. Have a great day ! Stormie
  4. sounds goo

    sounds goo Guest

    sounds good with those cards, but Sears is harder to get among department store cards, Target is one of the easiest
  5. Stormie

    Stormie Guest

    RE: New Credit-Sears

    Yes Sears is one of thee hardest department stores to obtain. They have higher requirements I believe. Although If you are a student and are working they seem to approve most of those accounts. I can not say what their critera is exactly , but time on the job of at least 6 months, and time at current residence all play an important factor. You can appy on line for the card at their web sight. Or go directly to a nearby store and any clerk can do a rapid credit for you, it takes just minutes. Good luck to you.

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