I have a few credit cards, because the associate who handles my account at my credit union said it's a good idea. I am 18, and have a credit score of 678. I applied for a Kay's Jewelry Store card (which I have yet to use) and a Dillard's card. (I work there, and the application was required to activate my associate discount). I was approved for Kay's, but not for Dillard's. Why is this?
Several reasons: 1. Your pay might not be sufficient enough to warrant a credit card. 2. You haven't been employed at Dillard's long enough. 3. Not enough of a credit history. 4. Dillard's credit card portfolio might be run by/through one of the big banks lke Citi or Chase. Did you get a letter from Dillard's about why yhey didn't approve you? In that letter they should have told you which CR they ran to make their decision. Send a copy of that letter to the CRA and request a free credit report.
Yes, they do have different requirements. If you only have the Kays card, and you've never used it, you have no history. Find something small to buy there, use the credit card, and pay if off. You'll start to build your history. If your parents are willing to add you to one of their accounts as an authorized user, that will help a lot. They don't even have to give you the card--they can have it sent to them and they can keep it. But the effect of the history will help you, then perhaps you can get the Dillard's card.
