Credit Card Declined

[Big Boss 0]

Hi,

My Fiancee applied for a Credit Card w/ CAPITAL ONE cause they have a cardf for ppl w/ limited credit history....and was declined.

Any other CC that you guys have used, that we can apply for?

We trying to get more IDs for the Drivers Permit.

Thanks again

[Glorya 0]

She should look into getting a secured card. Relatively easy to get them with Bank of America maybe even Capital One. You put money on the account and use it as a credit card. Good thing is that they report payments monthly to credit bureaus so she can build her history. I really doubt she'll be able to get any credit considering she just got her SS# and her credit report is blank.

[perfect 39]

IThe first one I ever got was a Chase card - and it's not a secured card either, although its limit is $300, but that's fine for me.

I think it was Capital One that can actually end up not help your credit history anyway as they don't report limits so it can give a very false impression of debt ratio so maybe not getting one of those was not such a bad thing!

[tom&tata 2]

Applied Bank of America - secured. I worked already, so I used my income. They issued $500 limit credit card for less deposit (they only asked for $99). I guess you might want to give it a try.

Although I have no idea if they report or not to the credit bureaus.

Good luck

[YuAndDan 153]

Try department store cards, oil company cards.

I remember starting out my first cards were those then was able to establish credit.

One other suggestion, had your spouse to your credit cards, bank account and they will generate an ATM/Debit card in your spouse's name.

[thai2luv 0]

You can ask your credit card company to issue an additional card for a family member, such as your wife.

[perfect 39]

Wanted you to post the information I had found in case others find it helpful. From MSN Money:

Capital One refuses to report its customers' credit limits to the three major credit bureaus. Instead, the bureaus use the highest balance a customer has charged as a proxy for the limit. As a result, the customers' all-important "debt utilization ratios" -- the portion of their available credit these borrowers are actually using -- can appear artificially high. Making on-time payments to Capital One cards over the years helps rebuild credit scores, but its policy on credit limits is not helpful. Capital One's practice easily makes people appear to be using more than 60% of their credit limit, when in fact they are using less than 40%. A consumer tried disputing the issue with the credit bureaus, to no avail.

"I got pretty hostile after awhile," Johnson admits. "I just don't understand why they (Capital One) would do that."

Cards that don't report credit limits are just one of the hidden threats to your credit. Here's what you need to know about some of the potential hits you might be taking, and how you can fight back: Capital One has a corporate policy to keep the information secret. Not reporting the limits can prevent competitors from spotting a company's more creditworthy customers, since those tend to be the ones with higher limits. (A South Carolina consumer, by the way, has filed lawsuits against the three credit bureaus alleging this practice violates federal fair credit reporting laws.) As a proxy for the credit limit, card issuers may report the highest recent balance, the highest balance ever or some other number of its choosing. You're most likely to be hurt by a missing or inaccurate credit limit if you haven't had credit for very long, you have a troubled credit history or the cards with missing limits are the only ones you have.

Edited November 21, 2006 by perfect

[fozzie 41]

My wife and I just signed up for a joint bank account with the bank she has used for years. The guy setting up the account said we were pre approved for a credit card. Two options: We get the CC with her as the primary user and me as an authorized user. Second option was to try and put me as the primary user and her as the authorized user. We went witht the second option as we thought it would bild me a credit history but we have yet to hear back from the bank. The clerk at the bank said that if i was just the authorized user then it would not build credit history for me.

[Nikita2Charles 32]

we tried to get a couple of store cards then got rejected for no credit history, what help?

I added my wife on my credit card as a second card holder, as such her name is there on the credit report, added her to the house we bought, just a couple of weeks ago i checked her credit is already in the 700+

[kofuku 0]

You can ask your credit card company to issue an additional card for a family member, such as your wife.

I did this for my husband with no problems...now he can charge thousands of dollars like me...

[KatieandMatthew 0]

I have a really good credit rating and history in the UK. Will I be able to use that in america or will I need to start from scratch again?

Thanks

Matt

[saturn5man 0]

After working for a lifetime (40 years) in the UK banking industry and posessing several major credit cards with combined limits of tens of thousands of dollars, I was amazed to find that this carried no weight at all in the USA, even though the cards were with companies that were based in the US.

It took me around a year after arrival in the US before I could get my US bank to give me a card that was totally my own (not a joint one, using my wife's good credit). However, the limit is currently a derisory $2,500. I have never had any credit problems in the UK but there is no cross-checking of that from the US and basically you have to start building credit anew here. I have even had to pay a deposit of $250 to get a cell phone on a monthly contract.

Since I began using my new US credit card however, I have begun receiving offers from many companies, saying that I have been pre-approved for one of their cards....In fact, I got FOUR such offers in yesterday's mail alone !

I wish you success in your own situation. Neil.

I have a really good credit rating and history in the UK. Will I be able to use that in america or will I need to start from scratch again?

Thanks

Matt

[CanadaGirl 0]

Welcome to the club of wanting your own credit lol. I am from Canada and also had excellent credit there. I can not get credit in the US on my own.

My husband added me to his AMEX and I am also on our mortgage. I am hoping in 6-12 months I will have some credit built up.

The best thing in my opinion to build your credit is to get added to your spouses credit card or get a secured credit card. The only problem with secured credit cards is you need cash upfront (Bank of America told me minimum $300). Some people including me don't have that kind of cash when only one spouse is working.

Can't you just use your passport for ID with the licensing office? I just had to show them my birth certificate, passport and Ontario Drivers License. They gave me a new Florida license and took my old Ontario one for $20.

Good Luck to you.

[Kajikit 65]

Welcome to the club of wanting your own credit lol. I am from Canada and also had excellent credit there. I can not get credit in the US on my own.

My husband added me to his AMEX and I am also on our mortgage. I am hoping in 6-12 months I will have some credit built up.

The best thing in my opinion to build your credit is to get added to your spouses credit card or get a secured credit card. The only problem with secured credit cards is you need cash upfront (Bank of America told me minimum $300). Some people including me don't have that kind of cash when only one spouse is working.

Can't you just use your passport for ID with the licensing office? I just had to show them my birth certificate, passport and Ontario Drivers License. They gave me a new Florida license and took my old Ontario one for $20.

Good Luck to you.

Since I opened a bank account of my own and put a small amount of money in it, I've started getting offered my own credit cards, but I shred them because I have no income or credit history so there's no way they'll approve them - they didn't approve any of the ones we sent back for DH last year and he's the one with the income - they just lowered his already pathetic credit rating. I don't understand why they keep sending out credit card offers that they have no intention of honouring!

The whole credit rating system is a huge ripoff. You can't get credit if you haven't already got it - nobody wants to be the first unless you're a 17yo college student.

[ariel_2005 0]

if you guys have an unitus bank it would help a lot if u decide to open an checking and savings account later on u can apply for credit card and they approve you right away! they are really good .... now i have credit cards with capital one, chase and lowes and unitus made it all possible!!.... give it a try...