Who will approve me for credit?

Question

well i turned 18 about a motth ago, and was trying to get a small card, i applied for a small discover card but got denied and the reason they sent me was " Too Many Inqueries"

i dont really want a secured card. i have no credit history according to all 3 credit unions.

Answer 1

If you have too many inquiries, you've been applying for too much credit.  Give it a rest for at least 6 months (even better, a year).  You only want to apply for credit around twice per year - otherwise these inquiries will start looking really bad on your credit report.

Fun Credit Fact:  Those with 8 or more inquires on their credit report are 6 times more likely to file for bankruptcy within 6 months!  Credit bureaus are very aware of this statistic.

After a year, apply for a department store credit card not a major credit card.  My first credit card was with Express and had a $150 limit, but it helped me build a solid credit history.  A year later, once you've established a payment history, apply for a major credit card.

You could get a secured credit card which will help you build a history right now.

Answer 2

What you need to do is get a secured CC & and make all of your payments on time, lets say you get  a secured CC with a limit of $1000.00, what would help you get your score up fast is simple & proven method is to withdrawal the whole amount once  every week, & pay it back!, @ the end of the month you just moved $4000.00 & paid it back with no incidence, or just get added as joint acct holder with someone you can trust that has good credit, but  credit should be earned! it helps build character. Hope this helped! good luck & never pay late! ever! Capital One is a good first card. Try this website, whogavemecredit.com

Answer 3

Start using your debit card at the pump. My first card was a shell gas card. I was pre-approved because I had been using my debt card. It's not a major credit card with a visa/mastercard logo and can only be used at that gas station, but it helped build my credit. A few months later, I was able to signup for any credit card I wanted.

Before this I was denied a credit card from my bank. 2 years later I have an excellent credit score and have no problem signing up for credit cards with high limits.

A gas card will really help you manage your credit too, because you won't put more than about $300 dollars a month, and will never go on a crazy gas spending spree, hehe.