I need a credit card, but every student card I’ve applied for have been denied because I have no credit history. I have no money for a prepaid card, so how can I start my financial history?
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5 answers
The Dude
December 26th, 2009 at 1:41 am
Hello good sir Dong.
I would say if you have no money then applying for a credit card is a bad idea. Typically you should have some income coming in before you start using a credit card.
Wait till you get a job, get some money, then apply for a student credit card. Use it wisely, never buy more than you can afford, and you will start building up your credit.
Quizzle
December 26th, 2009 at 2:15 am
Hi there! If you’re unable to qualify for an unsecured, or “regular,” credit card, your only option may be a secured credit card. A secured card is just like an unsecured card, only you put down a security deposit up front as an assurance to the bank or creditor that your debt will be paid.
Typically, the way a secured credit card works is that the amount of the security deposit you put down initially, typically around $300-500, will become your credit limit. Because a secured credit card has built-in safety measures – for both you and the creditor – it’s a great option for many people who are just getting started with credit. And just like a “regular” credit card, a secured credit card will help you build credit, provided that you make all your payments on time. (In contrast with a prepaid credit card, which will not directly help you build credit. )
If you’re short on cash right now, you may want to hang tight until you have some sort of income or cash reserves before applying for a credit card – secured or otherwise. You’ll need money to open a secured credit card and to pay for the purchases you make on that card so you ensure you’re building a solid credit history and credit score. Stop into your local bank and find out how much you’ll need to put down as a security deposit and make saving up that amount your goal. Good luck!
CreditMaster
December 26th, 2009 at 2:51 am
Credit card offer from Bank of America
0% Balance transfer for 12 months
No annual fee
Standard APR: 8. 24% – 18. 24%
http://www. bestcreditcard. googlepages. com
or
If you’d rather apply by phone, just call 866-438-6262
Priority code: UAAJVY
IBO reference number: 5549488
Matt J
December 26th, 2009 at 3:11 am
Have you tried a secured credit card? Try a site called findcollegecards I think (google it). They have a bunch of different cards for all types of college students.
You may want to try out a secured card, because 99% of the applicants get approved regardless of their credit history.
NO1
December 26th, 2009 at 3:58 am
Go to your local bank, there are too many scams out there for you to know what is what.
Visa and Mastercard have less strict rules then American Express. Your bank will help you get a student card and you won’t need to worry about anyone messing with your credit identity, which is a huge problem right now.