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Daishi
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It was an online app, so I assume I got denied. Oh well, what can I do? I'm really hesitant to do multiple apps, as I've heard it negatively affects one's credit score.
Old 04-18-2010, 05:31 PM Daishi is offline  
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wilse
 
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Originally Posted by Daishi View Post
It was an online app, so I assume I got denied. Oh well, what can I do? I'm really hesitant to do multiple apps, as I've heard it negatively affects one's credit score.

you could try orchard bank - they are known for approving for lower scores
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Old 04-18-2010, 06:03 PM wilse is offline  
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Daishi
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you could try orchard bank - they are known for approving for lower scores

They've got annual fees, though. I literally don't make shit. 80% of my pay goes towards paying for my education. Even $100 a year on fees is a stretch.
Old 04-18-2010, 06:29 PM Daishi is offline  
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coalesce
 
I wouldn't worry about multiple apps at this point in time if you're trying to just get a foothold on your way to building credit. Keep looking around. You might still get that credit card. As stated, my experience with credit card apps was just from my time spent working at Chase lol.
Old 04-18-2010, 06:29 PM coalesce is offline  
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coalesce
 
I got started on a Citi student credit card. You did mention you were still in college. Keep an eye out for a student card. I think what helped me out when I got my first credit card was that I applied around the time I had just gotten financial aid in my checking account. Banks aren't suppose to share that kind of information but I've always wondered just how much that fat wad of money in my account helped me get a $7000 credit limit straight out of high school with no previous credit history and no employment at the time.
Old 04-18-2010, 06:30 PM coalesce is offline  
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wilse
 
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They've got annual fees, though. I literally don't make shit. 80% of my pay goes towards paying for my education. Even $100 a year on fees is a stretch.

without credit, you're gonna have a difficult time getting a card with no annual fees
that's kind of the thing - they are taking a bigger chance on you without established credit, so annual fee - but you get the card to start building credit
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Old 04-18-2010, 06:37 PM wilse is offline  
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coalesce
 
Don't bite on a card with a fee till you've looked around further... it's still plausible to find you a no-annual fee card.
Old 04-18-2010, 06:39 PM coalesce is offline  
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CommiePunk
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My first card was Amex Blue. they have excellent customer service and i've had 5 other cards since then, amex still being my favorite with the highest credit limits, best customer service and lowest interest rates. Bank of America jacked my interest rates up on 2 cards to 26% for no reason last year.
Old 04-18-2010, 07:40 PM CommiePunk is offline  
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My first card was Amex Blue. they have excellent customer service and i've had 5 other cards since then, amex still being my favorite with the highest credit limits, best customer service and lowest interest rates. Bank of America jacked my interest rates up on 2 cards to 26% for no reason last year.

To play the other side, everyone's interest rate and limits were jacked up and down, respectively. My mom's Amex blue limit got dropped to like balance+$100 with a good, longstanding credit history.

To the OP: With no credit history, I was offered a Capital One card with a $750 limit @ 9.9% interest in 2008, when they were playing loose with money. Overall I don't have any qualms with the company other than all of their support is in India, and not the quality help desks that you can actually understand if you're an English speaker. I have read horror stories in the past about their cards and fees but I don't know if they are still going on or if some of it is outlawed due to the CARD act. They're also one of the few companies that doesn't charge currency conversion fees for foreign purchases (eBay-paypal passes the currency natively to the seller, so things like computer parts from Hong Kong is liable to be converted). I still have the card to establish my history (average account age and isn't marked as an account closed), but rarely use it.

Look at "college" cards from a major bank or credit union. Low limit, high(er) interest rate, no annual fee. You can trade up to a little higher rate if you want rewards, just remember to pay it off within the grace period.
Old 04-18-2010, 09:44 PM Assunder is offline  
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MrPillow
 
I'm 18, until a few months ago had no credit history whatsoever. I got approved for a Capital One student rewards Visa, no annual fees, $750 limit. The APR is pretty high but if you're going to be not paying it off in full you have no business getting a credit card in the first place. I have had no problems with Capital One whatsoever.
Old 04-18-2010, 10:24 PM MrPillow is offline  
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Old 04-18-2010, 11:12 PM aoeoae is offline  
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Old 04-19-2010, 03:29 AM [H]ard|On is offline  
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shabubu
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I filed an app with my bank, they had a decent card. No annual fee, supposedly designed for people with little or no credit. Guess I'll hear in a week or two if I get approved. Probably not, though.

What do you guys think about Chase? I was kicking around the idea of switching my bank to them.

i have used Chase ever since the Bank One merger and i love it.

i am actually getting rid of my slightly higher yield HSBC savings account to put everything on one Chase account and be able to manage it much easier.

they also have a shit ton of capital and you can rest assured that they will not dwindle in the marketplace, they are destined to expand. that's a great thing to consider so you dont have to change banks every few years if you move or something.
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Old 04-19-2010, 07:05 PM shabubu is offline  
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#28  

tegandje
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I always say go for the ones that are reliable with a good rewards program.
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Old 04-19-2010, 08:31 PM tegandje is offline  
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