Looking To Build Credit...What Should I Do?

[harlemtothebronx]

Whenever I've applied for a credit card, I've been turned down because they say they don't have enough information to offer me a card.

What do I do? How can I get something just to start building credit? Anyone know of some bottom barrel cards for credit noobs?

This is something I desperately need to do, so any and all help is greatly appreciated.

 

[jayswisz]

post to check back later
i need this info too

 

[sigmakidownz]

My friend got turned out constantly when he tried applying for credit, then he got one letter in the mail by Chase. As soon as he finished applying he wasapproved. Usually once you turn 18 you get a flock of credit junk in your mail. That's how I got my bank of america credit card, which I'm not proud tohave, but whatever it's credit. You can build up your credit by using it on stuff that you would normally get with just a few bucks. As long as you can paythem back within a reasonable time, you should be okay. In other words, buy what you know you can afford, and pay it back.

 

[jrp44]

Capital One has cards that approve everyone

Buy all the Yankee fans on NT tickets ...
Pay the bill on time
Build Credit

 

[abernja]

Pay your bills on time.


Seriously though, I hate credit cards. I don't have any anymore either. Great way to ruin your life. If you can't pay for it, don't buy it. Paycash for everything.....yes everything.

 

[taty870]

make sure you have a debit account. You might also want to try with a store charge card first like macys, bestbuy, jc penny, kohls, etc. They're mucheasier to obtain. Work your way up from there. As mentioned earlier when you do get a card traffic it alot but make sure to only purchase items you can affordto pay back.

 

[harlemtothebronx]

I understand paying the bills on time.

I just need a card to accept me.

So I guess I'm just asking for any cards that are easy to get, because I only plan on buying things with the card that I have the money to pay for.

 

[mnmballa2323]

either go to your bank, or capital one...one of them will approve you.

 

[sigmakidownz]

Originally Posted by taty870

make sure you have a debit account. You might also want to try with a store charge card first like macys, bestbuy, jc penny, kohls, etc. They're much easier to obtain. Work your way up from there. As mentioned earlier when you do get a card traffic it alot but make sure to only purchase items you can afford to pay back.

Yeah if you have a Debit Account, it'll be easier for you to get a credit card. I forgot to mention that

 

[stoneyjax]

there are a lot of credit cards that are designed to start building or rebuilding credit. only catch with that you have to pay a fee to obtain the card and theannual intrest rates are little higher.

 

[theekinqq]

what if you have a debit card but no credit card
and you apply for credti at conns electronics and you get approved
so your building credit under your name and social security
is it the same as building credit with a credit card??

 

[fresco dollar]

My friend got turned out constantly
Ayo!

Just buy everything with cash, put nothing in
ur name unless ur goin to pay it on time. If
u do get a CC, buy iish like gas & groceries.

U can even take out a lil loan, like 1-2k, and
pay it back dumb early or small payments on
time.

Oww!

 

[clkru]

Misuse of credit cards and credit card companies exploiting the poor, vulnerable, and/or undereducated-on-financial-matters has been a big part of our currenteconomic mess.

Many of my family and friends only buy stuff with cash and have cancelled their cards, or never signed up for them in the first place. Do yourself a favor andavoid credit cards at all costs. Save money, and don't buy anyting you don't have the cash for. What I've actually started to do - which may soundsilly to some - is transfer the exact amount of money a hot shoe that I really want costs from my checking to my savings account, and then sit on it and neverbuy it. Because Nike/Jordan is so good a putting out stuff I like so freakin' often, I've been able to save a ton just by refraining. Several of mynon-shoehead friends do this with other stuff, like eating out, clothing, music equip, etc. Its amazing how much you can really save by just not buying stuff.

Interest rates on credit cards, which card companies can raise or lower whenever they want, is a terrible deal for consumers.

Car loans (especially now with all of the great deals out there - Ford is actually offering consumers a deal where they will pay up to 12 months of payments upto the amount of $700 if you lose your job and can pay WITHOUT allowing it to negatively impact your credit) seem like a great way to go right now. Also,student loans listing you as a co-signer are good, and paying all of your bills on time will keep you credit from slipping (though it won't build it up).

But really, the whole credit thing is whack when you get down to it, and I have a feeling we're headed for an ideological shift in the way we do businessas a result. For those of you concerned with the Bible, the book actually speaks out against such (usury):

"Psalms 15: LORD, who may dwell in your sanctuary? Who may live on your holy hill? 2 He whose walk is blameless and who does what is righteous, who speaksthe truth from his heart 3 and has no slander on his tongue, who does his neighbor no wrong and casts no slur on his fellowman, 4 who despises a vile man buthonors those who fear the LORD, who keeps his oath even when it hurts, 5 who lends his money without usury and does not accept a bribe against the innocent. Hewho does these things will never be shaken. (NIV)"

Avoid the plastic, man. Credit card companies are in the process of going to hell. Check out the movie "Fight Club", too... for inspiration.

 

[chico dusty]

Real talk. Lots of ways.

1. Like said, pay your bills. period, On time is even better.

2. Go to where ever you bank and ask them. Should be some programs like secured loans to help you establish a credit history.

3. Try lil department store cards like, Best Buy, Target, Gap, whatever. Just open up lil balances on those cards & pay them off.

What they are lookin at is how big was your purchase & how consistent / on time your payment history is. Once you get 'bout 3- ( 6 months is better )months of good payment history, you should be good.


FTR I work in a CU / Accounting Dept.

 

[clkru]

"either go to your bank, or capital one...one of them will approve you."

Capitol One is in the process of jacking up rates right now on most of its customers, and banks are for-profit businesses that only wantto make money off of you.

Go to a local credit union over a bank. They exist to help people, not exploit them like credit card companies and banks.

And don't start from scratch! Think about checking out your credit history on myfico.com. That's what most major lenders base their info offof when they decide whether or not to give you credit.

 

[jfoams]

im trying to get one myself its not easy im going to try capital one and lets see what happens

 

[kicksgetmehigh]

I'm in the same boat homie... I'm just scared of the interest rates

 

[hugo]

edit:nvm

 

[harlemtothebronx]

Originally Posted by clkru

Misuse of credit cards and credit card companies exploiting the poor, vulnerable, and/or undereducated-on-financial-matters has been a big part of our current economic mess.

Many of my family and friends only buy stuff with cash and have cancelled their cards, or never signed up for them in the first place. Do yourself a favor and avoid credit cards at all costs. Save money, and don't buy anyting you don't have the cash for. What I've actually started to do - which may sound silly to some - is transfer the exact amount of money a hot shoe that I really want costs from my checking to my savings account, and then sit on it and never buy it. Because Nike/Jordan is so good a putting out stuff I like so freakin' often, I've been able to save a ton just by refraining. Several of my non-shoehead friends do this with other stuff, like eating out, clothing, music equip, etc. Its amazing how much you can really save by just not buying stuff.

Interest rates on credit cards, which card companies can raise or lower whenever they want, is a terrible deal for consumers.

Car loans (especially now with all of the great deals out there - Ford is actually offering consumers a deal where they will pay up to 12 months of payments up to the amount of $700 if you lose your job and can pay WITHOUT allowing it to negatively impact your credit) seem like a great way to go right now. Also, student loans listing you as a co-signer are good, and paying all of your bills on time will keep you credit from slipping (though it won't build it up).

But really, the whole credit thing is whack when you get down to it, and I have a feeling we're headed for an ideological shift in the way we do business as a result. For those of you concerned with the Bible, the book actually speaks out against such (usury):

"Psalms 15: LORD, who may dwell in your sanctuary? Who may live on your holy hill? 2 He whose walk is blameless and who does what is righteous, who speaks the truth from his heart 3 and has no slander on his tongue, who does his neighbor no wrong and casts no slur on his fellowman, 4 who despises a vile man but honors those who fear the LORD, who keeps his oath even when it hurts, 5 who lends his money without usury and does not accept a bribe against the innocent. He who does these things will never be shaken. (NIV)"

Avoid the plastic, man. Credit card companies are in the process of going to hell. Check out the movie "Fight Club", too... for inspiration.

I definitely hear you, but what do I do when I want to purchase a home?

 

[jibbycanoe]

I didn't have any CCs until 2005 and now I have an 800+ credit score. first one I got was from Capitol One and it's only a $1000 limit. had to get itto pay off an emergency room bill. after that I got one though my bank WAMU which had a higher limit that has increased as I have paid it off. lately CapitolOne tried to raise the rate and I hadn't used the thing for 3 years so I just opted out and now I am back to just one.
I know a lot of people on here are not into the credit cards and I agree somewhat but really you need credit to do anything so you might as well get one. bigkey is to pay the thing off every month. that is what I do and it has helped me a lot; from getting a better rate on insurance and a new car purchase togetting a better mortgage. also if your career is like mine, you have to expense a lot of stuff and then get paid back right away so that is how I got my scoreso high.
so my advise is to just get a dinky one with whatever rate and make sure you pay it off every month.

 

[ajwings23]

Department store cards.
Once you get one make sure you make your payments on time.
Make sure you read everything before you sign and accept any terms.

 

[it is wat it is]

Use cash for everything......you will thank me later.....Credit Card=Trap....Cue trap pic

 

[harlemtothebronx]

How do I buy a home with cash?

I don't walk around with $300-$500K in my wallet.

 

[stoneyjax]

Originally Posted by HarlemToTheBronx

How do I buy a home with cash?

I don't walk around with $300-$500K in my wallet.

if you do you must be Randy Moss

 

[queencitysneakerqueen]

Having a debit account for a while shows consistency which can help if you want to get one through your bank...Like mentioned go to a store Best Buy,Macys...whatever and get just one credit card and make sure you pay it off every month