Trying to get a credit card

[enayes]

I am 19, just finished freshman year of college. I applied for a few different credit cards at the end of last summer and was denied for all of them. I want a card to build up credit in order to get car loans, etc. I am wondering why I am getting denied because I thought credit companies want young kids to get their cards. idk. My parents did take out loans in my name to pay for college but I feel like most people have to do that. Any thoughts?

[Meticode]

I am 19, just finished freshman year of college. I applied for a few different credit cards at the end of last summer and was denied for all of them. I want a card to build up credit in order to get car loans, etc. I am wondering why I am getting denied because I thought credit companies want young kids to get their cards. idk. My parents did take out loans in my name to pay for college but I feel like most people have to do that. Any thoughts?

First you should try applying for credit cards were you might buy things at over the next year or two. Best Buy has credit cards, some big retail stores have them. Then after you use that for a while try applying for you Visas, MasterCards, AmericanExpress, etc.

[shawbryant]

The applicants need to have constant income.

[enayes]

The applicants need to have constant income.


then how are college kids getting credit cards?

not many freshman have jobs..

[A. Blackmon]

Don't go into debt over some bullsh!t.

If you want a car loan get a co-signer!

[Hawker]

Don't get a credit card. You're 19 years old.

[Meticode]

I've had credit cards since I was 19 almost 20. My score is 760. I never would use a credit car unless I physically had the money to pay off the balance within a month. It's just most people are dumbasses when using them and paying them off. They pay the minimum because they're cheap and can't control themselves from spending, not even touching the interest piling up.

[IlliniFan]

then how are college kids getting credit cards?

not many freshman have jobs..
If you don't have a steady income, don't get a credit card. Not a very difficult concept. These kids are probably getting it paid off by their parents.

[wTFaMonkey]

Don't get one. You should just get a debit.

[enayes]

If you don't have a steady income, don't get a credit card. Not a very difficult concept. These kids are probably getting it paid off by their parents.


I have money saved up. I want to get a credit card to start building up a good credit score. Pretty simple.

[playtetris]

simple! cut off your dreads and you'll get one.

[sandwiches]

no credit card company will give you a credit card until your student loans are paid off.

[Lee11]

Save up for whatever you want to buy. There are other ways to buy things without getting a credit card, including a house. Have a laugh, look here please. http://www.youtube.com/watch?v=qUuhyzFSa7k

[mmsupra]

If u have a bank account go to your bank and ask them for a starter credit card ..they might give u one with a 100 or 200 dollar limit then used it all the time but pay it off at the end of the month.

[Parade]

It's a good idea to build up your credit at that age, just don't **** up.

If you go to a 4 year uni, then I think you can get a student credit card. Check with your bank or ask around at your school.

If you have any student loans, then you're already starting to build credit. At some point banks will start sending you cc offers - a lot of them, and they won't stop, even if you want them to :oldlol:

[Hawker]

It's a good idea to build up your credit at that age, just don't **** up.

If you go to a 4 year uni, then I think you can get a student credit card. Check with your bank or ask around at your school.

If you have any student loans, then you're already starting to build credit. At some point banks will start sending you cc offers - a lot of them, and they won't stop, even if you want them to :oldlol:

This is so true. They called me in my dorm room last year and it wasn't even my phone. I had never called anybody from that phone and I didn't even know the number. It was my roommates LAN phone.

I have no idea how they got the number. It's ridiculous what lengths banks will go to try and get you in debt.

[shadow]

look for student cards...all major banks have them. They might require you to get a parent to cosign (some don't) and are a great way to build up a credit history.

Remember....always pay off the entire balance at the end of the month. Do not carry anything over to the next month. If you don't have the cash don't spend it. If you're responsible with your card usage they're a good way to rack up points/miles.

[enayes]

I have money saved up. I want to get a credit card to start building up a good credit score. Pretty simple.

:oldlol:

My humble beginnings into the credit card game. Even I couldn't have predicted just how much money I would make using credit cards.

Crazy to look back now.

:eek:

[UK2K]

I have money saved up. I want to get a credit card to start building up a good credit score. Pretty simple.

You know best, guy.

Not like everyone in this thread so don't do it or anything.

[enayes]

The whole credit cards are evil/will destroy your life ONLY applies TO IGNORANT, IRRESPONSIBLE individuals.

If you have a brain and ARE ABLE TO USE IT, then you can very EASILY save LOTS OF MONEY using credit cards for EVERYTHING.

It really frustrates me when people argue the above points but I guess some people just will never understand how credit cards work.

:facepalm

[UK2K]

The whole credit cards are evil/will destroy your life ONLY applies TO IGNORANT, IRRESPONSIBLE individuals.

If you have a brain and ARE ABLE TO USE IT, then you can very EASILY save LOTS OF MONEY using credit cards for EVERYTHING.

It really frustrates me when people argue the above points but I guess some people just will never understand how credit cards work.

:facepalm

If you have a brain and are able to use it, you can easily retire with immense wealth...

But very few do. Shit happens. You lose your job, you meet a girl, you run up a few hundred dollars thinking '**** it I got this', then your limit gets increased and you think 'hell yeah shopping spree' and then before you know it, you're $5,000 in debt.

If I were you, I would just get a secured credit card. If you can't afford one of those, you don't need a real credit card.

[rufuspaul]

Your best bet, and safest bet, is to head over to your bank or find any big name bank in the area, and tell them you want a secured credit card.


I did that in college. Got a secured card from my bank with a $400 limit. After about 6 mos of paying it off every month the bank increased the credit line to $1,000. Senior year I started getting solicitations from Visa/Mastercard and took the one with the best rate.

I now have 2 cards, one for personal and one for business. Personal has a $20,000 limit and business has $50,000.

[highwhey]

I did that in college. Got a secured card from my bank with a $400 limit. After about 6 mos of paying it off every month the bank increased the credit line to $1,000. Senior year I started getting solicitations from Visa/Mastercard and took the one with the best rate.

I now have 2 cards, one for personal and one for business. Personal has a $20,000 limit and business has $50,000.
Hi Dad, I know we haven't talked in a while because your wife can't know about me, but if you buy this kit for me, I'll leave you alone forever:

http://s32.postimg.org/p4gd21q85/image.jpg

[rufuspaul]

Hi Dad, I know we haven't talked in a while because your wife can't know about me, but if you buy this kit for me, I'll leave you alone forever:

http://s32.postimg.org/p4gd21q85/image.jpg

:oldlol:

[enayes]

If you have a brain and are able to use it, you can easily retire with immense wealth...

But very few do. Shit happens. You lose your job, you meet a girl, you run up a few hundred dollars thinking '**** it I got this', then your limit gets increased and you think 'hell yeah shopping spree' and then before you know it, you're $5,000 in debt.

If I were you, I would just get a secured credit card. If you can't afford one of those, you don't need a real credit card.

Not sure if you've read my other credit card related threads but I'm a credit card churner. My credit score is around 775 right now, I've opened 20 different cards and currently have 9 that are active.

I've never paid a single cent of interest and I've accumulated thousands of dollars in cash back, miles, and free hotel stays.

[~primetime~]

https://vimeo.com/41152287

[dazzer87]

Not sure if you've read my other credit card related threads but I'm a credit card churner. My credit score is around 775 right now, I've opened 20 different cards and currently have 9 that are active.

I've never paid a single cent of interest and I've accumulated thousands of dollars in cash back, miles, and free hotel stays.
775 is not that high and why the hell would someone need to open up with 20 cards..........:facepalm

[UK2K]

775 is not that high and why the hell would someone need to open up with 20 cards..........:facepalm
Lol right?

Wtf.

One card with a high limit is plenty

[enayes]

775 is not that high and why the hell would someone need to open up with 20 cards..........:facepalm


Are people really this slow? Of course I didn't need to open 20 cards. I did so to earn signup bonus offers. So many cards have signup bonuses worth $200-500 EACH.

You can do the math.

[enayes]

Lol right?

Wtf.

One card with a high limit is plenty

2-3 cards is ideal. One with high overall cash back like the Citi Double Cash and cards that specialize in grocery/gas rewards.

I get 6% back on groceries and 3% on gas.

[Hawker]

Not gonna lie...I like the miles rewards I receive from my credit card. I will side with enayes on that.

Paid for three round trip flights already.

[bigkingsfan]

That's like 5k, and some of that isn't even actual money. Nothing worth bragging about really.

[dazzer87]

Are people really this slow? Of course I didn't need to open 20 cards. I did so to earn signup bonus offers. So many cards have signup bonuses worth $200-500 EACH.

You can do the math.

So you are telling me all you need to do is sign up for a card and the credit card company will give you back 200 to 500 cash back? So you dont need to do any transaction in order to earn this cash back? :lol Please.....

http://www.cardrates.com/advice/11-best-signup-bonus-credit-cards/

"Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening"

"One-time $100 cash bonus after you spend $500 on purchases within the first 3 months"

[chosen_one6]

I've never heard of a credit card with a "sign up bonus"

Sounds like bullshit

[UK2K]

2-3 cards is ideal. One with high overall cash back like the Citi Double Cash and cards that specialize in grocery/gas rewards.

I get 6% back on groceries and 3% on gas.
Am I missing something?

In your OP you asked about credit cards, then told me you've opened 20 and have 9 active, then tell me that despite having 9 active, you think 2-3 is ideal?

[Hawker]

Am I missing something?

In your OP you asked about credit cards, then told me you've opened 20 and have 9 active, then tell me that despite having 9 active, you think 2-3 is ideal?

check the date

[enayes]

So you are telling me all you need to do is sign up for a card and the credit card company will give you back 200 to 500 cash back? So you dont need to do any transaction in order to earn this cash back? :lol Please.....

http://www.cardrates.com/advice/11-best-signup-bonus-credit-cards/

"Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening"

"One-time $100 cash bonus after you spend $500 on purchases within the first 3 months"

Of course you have to spend money to get the bonuses. But as long as you use the card for your normal transactions it is free money. Your just using a credit card to make your everyday purchases. You use the card for everything. Car insurance, car payment, all bills, donut and coffee, gas, etc. You easily reach the spending needed for the bonus.

[shlver]

Of course you have to spend money to get the bonuses. But as long as you use the card for your normal transactions it is free money. Your just using a credit card to make your everyday purchases. You use the card for everything. Car insurance, car payment, all bills, donut and coffee, gas, etc. You easily reach the spending needed for the bonus.
Applying to and keeping track of 20 credit cards is not worth a couple hundred dollars.:oldlol: At least to me, it isn't

[enayes]

Am I missing something?

In your OP you asked about credit cards, then told me you've opened 20 and have 9 active, then tell me that despite having 9 active, you think 2-3 is ideal?

If you're not into churning or simply can't keep track of too many accounts then I'd say 2-3 is ideal.

As soon as I saw how I could take advantage of all these offers I was hooked. If everyone worked them this way credit card companies would be out of business.

I have 9 open right now but only 2-3 are active at a time. The other sit at home with the balances at $0.

[dazzer87]

Of course you have to spend money to get the bonuses. But as long as you use the card for your normal transactions it is free money. Your just using a credit card to make your everyday purchases. You use the card for everything. Car insurance, car payment, all bills, donut and coffee, gas, etc. You easily reach the spending needed for the bonus.
Car Payment and Car Insurance? Nah, most will never let you use a cc to made a payment. Its has to be from a bank account with "real money" And if there is an option for CC payment there will be a fee just for the transaction. Why would I use a CC to make a payment with a Fee......

Honestly what you are doing is just too much and way too hard just to get a couple of bucks in your pocket.......:roll: Just get a real job.....

[enayes]

Applying to and keeping track of 20 credit cards is not worth a couple hundred dollars.:oldlol: At least to me, it isn't

I've done 20 over the course of 3 years. So I've never been overwhelmed. It's definitely worth the money to me. I'm about to send my parents to Ireland for FREE, using the miles I earned from one bonus offer. It's also a lot of fun to keep getting rewards.

[enayes]

Car Payment and Car Insurance? Nah, most will never let you use a cc to made a payment. Its has to be from a bank account with "real money"

Honestly what you are doing is just too much and way too hard just to get a couple of bucks in your pocket.......:roll: Just get a real job.....

Car insurance- Yes. I've always used a credit card.
Car payment- Not sure as I have always owned my car.

Either way it's very easy to reach the spending requirements. After I reach one and get the free money I pay off the card in full and start the process over.

[coin24]

Never had a credit card, never needed one.. Visa debit for me. I'm not sure how the credit score thing works in the states, we don't have that here..
But wouldn't it be better to save and have no debts for useless shit except for a house?
The amount of people I see now with credit cards, personal loans, cars on lease/loan, holidays they need to get a loan etc.. I've always thought loan should be for house only, as it's an asset..

So many people living beyond there means, as soon as they get paid 90% must go to credit repayments..

[Nanners]

OP you should consider getting into extreme couponing, seems right up your alley.

[enayes]

Never had a credit card, never needed one.. Visa debit for me. I'm not sure how the credit score thing works in the states, we don't have that here..
But wouldn't it be better to save and have no debts for useless shit except for a house?
The amount of people I see now with credit cards, personal loans, cars on lease/loan, holidays they need to get a loan etc.. I've always thought loan should be for house only, as it's an asset..

So many people living beyond there means, as soon as they get paid 90% must go to credit repayments..

You can use credit cards for everything and have no debt. Like myself.

When you use a credit card that has a rewards structure you save money on every purchase.

For example the Citi Double Cash, you get 2% back on EVERYTHING.
American Express Blue Cash preferred- 6% back on groceries (this adds up quick)

As soon as I understood the structure of credit cards for myself, having grown up being told by everyone that they are horrible, I knew I could take advantage and stay in complete control.

It's been a hobby of mine.

[enayes]

OP you should consider getting into extreme couponing, seems right up your alley.

That seems time consuming.

People on here act like it takes a bunch of time to keep track of credit cards. It doesn't. I've only had to keep track of 1-2 cards at a time.

Step 1- Apply and get approved for card
Step 2- Activate card
Step 3- Use card and see the rewards pile up
Step 4- Make sure you pay off balance each month or just make the min. payment as long as you have a 0% APR period.

It's that simple.

:confusedshrug:

[ALBballer]

OP don't listen to the haters. Personally I think credit card churning is too much work but at the same time I respect the hustle.

[enayes]

OP don't listen to the haters. Personally I think credit card churning is too much work but at the same time I respect the hustle.

Thanks, I take some pride in it. It feels like a legal form of drug dealing or "hustlin" as you mentioned.

[BasedTom]

I've done 20 over the course of 3 years. So I've never been overwhelmed. It's definitely worth the money to me. I'm about to send my parents to Ireland for FREE, using the miles I earned from one bonus offer. It's also a lot of fun to keep getting rewards.
most of the bonuses you've mentioned seem a bit useless to me personally, but where did you get the miles from?

[coin24]

most of the bonuses you've mentioned seem a bit useless to me personally, but where did you get the miles from?


That's what I've found after looking into them a few times:confusedshrug:

[enayes]

most of the bonuses you've mentioned seem a bit useless to me personally, but where did you get the miles from?

?

Most of the bonuses are straight cash back, how is that useless?. And in addition to the big signup bonuses you also get cash back on every single purchase you make. You never pay full price for anything.

The 50k miles, you can use the British Airways card or the Citi AA card. I believe the British one gives you the miles needed for Ireland. Had to spend 3k in 3 months on that one.

[BasedTom]

?

Most of the bonuses are straight cash back, how is that useless?. And in addition to the big signup bonuses you also get cash back on every single purchase you make. You never pay full price for anything.

The 50k miles, you can use the British Airways card or the Citi AA card. I believe the British one gives you the miles needed for Ireland. Had to spend 3k in 3 months on that one.
well maybe useless isn't the best word, but I personally already have a lot of money and wouldn't really need to hustle and go out of my way for an extra 2 or 3 hundred.

[enayes]

well maybe useless isn't the best word, but I personally already have a lot of money and wouldn't really need to hustle and go out of my way for an extra 2 or 3 hundred.

You don't need to go out of your way, that's the main point I'm trying to get people to understand.

You just have to USE the card. That's it. And there's no limit to the amount of money you can earn, it just keeps coming in. It's like having a checking account with a huge interest rate.