(Closed) Cannot get credit?

posted 4 years ago in Money
Post # 16
Member
1166 posts
Bumble bee
  • Wedding: March 2011

I’m a bank loan officer.  Usually the only thing that would get you declined for a secured card is an open bankruptcy or tax liens, or if the bank you’re applying to had a previous charge off to you.  

Post # 17
Member
5083 posts
Bee Keeper
  • Wedding: December 2014

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@gwendolyn86  That’s actually a great idea! I did this with my husband to help rebuild his credit when it was bad.

Post # 21
Member
13905 posts
Honey Beekeeper
  • Wedding: November 1999

Yeah, unfortunately, your bank account balance generally doesn’t help or even get considered.  They just want your income.  I think that without a consistent income, your best bet it a secured line of credit.

Post # 23
Member
1124 posts
Bumble bee

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@clarissabee  

I’d suggest looking into the student Discover card, if you have income!

And you can totally find a used car for under $15,000…just saying, you can find something for probably 7-9k and be able to drive it for years if you do regular maintenance on it. It may be difficult to get a good interest rate on a car loan if you have little credit history. 

 

Post # 24
Member
3680 posts
Sugar bee
  • Wedding: August 2013

If you’re putting in an annual income of zero, I’m going to guess that’s why you’re getting rejected. 

Post # 27
Member
1124 posts
Bumble bee

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@clarissabee  

 

Just saw that you’ve applied for most student cards; I would really stop applying for cards at this point. All the inquiries for cards is noted, and sometimes companies will find it suspicious that you’re applying for so many in such a short period of time, and thus reject you. I would wait awhile (although the inquiries [or “hard pulls”] stay on your report for 2 years) and try again in awhile once you have steady income.

Post # 28
Member
5083 posts
Bee Keeper
  • Wedding: December 2014

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@clarissabee  You wouldn’t effect his credit, only what happens on the card would effect both of your credits. So, obviously if you charged up the card, that would be bad, but you don’t even need to use the card. That said, I’d be nervous to tie your credit to your significant other at this point. 

Post # 29
Member
3680 posts
Sugar bee
  • Wedding: August 2013

You also can’t say that you make 10k or 18k if you don’t. I thought you said you were unemployed?

Have you even tried to apply for a secured credit card?

Post # 30
Member
893 posts
Busy bee

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@clarissabee  I think I was at the time, yes, but only minimal hours at minimum wage and through my college (only way to work on a student visa)… it really helps if you go to the bank in person and speak to them about your concerns and needs rather than apply online. Online, you are just an application. If you meet with someone, you become a person and they will help you!

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