Question
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Sep 7, 2008, 07:47 AM
|  | Vision Expert  | | Join Date: Oct 2007 Location: Vancouver, Washington
Posts: 6,509
| | | Credit Cards for Losers
Is there any one Credit card company that tends to approve people who have a bit of debt and no credit history?
I'm a responsible person. I own my car, I have two full time jobs, and rent my own apartment. I unfortunately owe a couple hundred bucks in debt. And have past ((Paid off)) on my credit history. And have absolutely no credit history. Never had a credit card, no loans, no anything. SAD!
Please feel free to offer more advice!!!
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Answers
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Sep 7, 2008, 10:05 AM
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#2
| | Administrator
Join Date: Mar 2005 Location: Behind You !!
Posts: 8,890
Pay to call Curlyben for advice ($1/min) | Yes there are, but for starters ask your own bank as they tend to look more favourably to their own customers. |
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Sep 7, 2008, 10:11 AM
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#3
| | Vision Expert
Join Date: Oct 2007 Location: Vancouver, Washington
Posts: 6,509
| Quote: |
Originally Posted by Curlyben Yes there are, but for starters ask your own bank as they tend to look more favourably to their own customers. | I've already applied and been denied due to unfavorable credit history. | |
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Sep 7, 2008, 10:15 AM
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#4
| | Administrator
Join Date: Mar 2005 Location: Behind You !!
Posts: 8,890
Pay to call Curlyben for advice ($1/min) | IMHO trying to get a crudit card in your current position is a recipe for disaster.
Bear in mind any company that is likely to accept you will charge a HUGE rate 30%+ and more likely over 50% APR. | |
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Sep 7, 2008, 10:17 AM
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#5
| | Vision Expert
Join Date: Oct 2007 Location: Vancouver, Washington
Posts: 6,509
| I don't care, I'm not buying a car on it. I'll buy lunch with it, and start building some credit. | |
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Oct 5, 2008, 03:57 PM
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#6
| | Senior Member
Join Date: Dec 2007 Location: NW Indiana
Posts: 957
| Have you tried joining a credit union as opposed, or in addition to, a traditional bank? I have found that a CU is a tad bit more forgiving on this area and with the smaller CU's the decision might be made by an actual person there on site. Just sayin' | |
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Oct 5, 2008, 05:16 PM
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#7
| | Vision Expert
Join Date: Oct 2007 Location: Vancouver, Washington
Posts: 6,509
| I've banked with a credit union for the past 5 years. They've already denied me a loan three times. | |
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Oct 5, 2008, 07:20 PM
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#8
| | Senior Member
Join Date: Dec 2007 Location: NW Indiana
Posts: 957
| It is a viscous circle I know. You mentioned that you do own your vehicle, have you tried to get a small personal loan using your car as collateral?
Back in 98/99 I was a few thousand dollars in debt (this was before the student loans kicked in lol). I took out a debt consolidation loan using my truck as collateral. After a few months of making payments I applied for a credit card and they approved it. | |
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Oct 5, 2008, 07:22 PM
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#9
| | Vision Expert
Join Date: Oct 2007 Location: Vancouver, Washington
Posts: 6,509
| All I have is my car. I'm not getting car loan. If I default and lose my car, I lose my jobs, my apartment and then I have nothing. It's too risky. | |
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Oct 5, 2008, 07:28 PM
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#10
| | Ultra Member
Join Date: Dec 2007 Location: atl
Posts: 3,875
| I suggest you do what most people with no credit do...
start with a target/gap/old navy card...build your credit that way.
You may also check with CITI, as they're known to give out credit cards like candy to college students. | |
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