Credit History question

[VanessaTony 3,567]

I think denials show up as negative things so don't keep applying willy-nilly. Too many hits checking your rating can lower it.

That's what I said "in his position". he doesn't have a score currently so there's no score to "hit". I speak from experience. I applied for a Kohls card the first time, had no idea how it all worked at that time. My credit history was completely absent (I was sent a letter like the OP) and that's why I was denied. The Kohl's application doesn't show on my record because I HAD no record at the time I applied. My first record on my report is the approval of my secured Capital One credit card.

[Nich-Nick 3,354]

That's what I said "in his position". he doesn't have a score currently so there's no score to "hit". I speak from experience. I applied for a Kohls card the first time, had no idea how it all worked at that time. My credit history was completely absent (I was sent a letter like the OP) and that's why I was denied. The Kohl's application doesn't show on my record because I HAD no record at the time I applied. My first record on my report is the approval of my secured Capital One credit card.

I think I meant if he gets one with his credit union or Capitol One, stick with it awhile rather than going for another every month just to see if he can based on having one that got him started. I get it that he's not in the system yet. That's what his rejection notice says.

[VanessaTony 3,567]

I think I meant if he gets one with his credit union or Capitol One, stick with it awhile rather than going for another every month just to see if he can based on having one that got him started. I get it that he's not in the system yet. That's what his rejection notice says.

Oh yes most definitely. I use creditkarma to track my score and you can do a score simulation to see what different things do to your score. Getting my new card was a hard hit to my score but it only dropped about 5 points thankfully.

[Teddy B 17,252]

If your spouse has decent credit, start with being put on his/her cards as an authorized user. After 6 months or so, try to get put on ONE card as a joint applicant, which means you are also responsible for the payments. If you get approved as a joint applicant, that means you have established a bit of credit and can start moving on from there.

[Marilyn. 340]

my first card was an Amazon Chase credit card. It only had a $500 to $600 limit but it was a way to start my credit history..

[epsonderby 85]

You will need to apply for this card: http://www.capitalone.com/credit-cards/secured-mastercard/?Log=1&EventType=Link&ComponentType=T&LOB=MTS%3A%3ALCTMMQC4S&PageName=Credit+Cards+Browse&PortletLocation=4%3B4-12-col%3B2-1&ComponentName=browseTable&ContentElement=57%3BSecured+MasterCard%3Csup%3E%26reg%3B%3C%2Fsup%3E&TargetLob=MTS%3A%3ALCTMMQC4S&TargetPageName=Secured+MasterCard+Details It's a secured card where you pay a set amount. i started with a $49 deposit to get a $200 limit. After a couple of month my score was in the high 600's, and a few more 700's. Just recently i was approved for a non-secured card with a decent amount, and I also applied for another card with a lower amount. Neither of those cards have annual fees so are good cards to have. The lower one is in a drawer "just in case". The other one we use and then pay off to show rotating credit. Irritating to do but it's working well on my score

Hi Vanessa. I wanted to say thank you for your suggestion regarding the Capital One secured card. I just applied online and was approved with a $49 deposit for a $200 limit.

I appreciate the suggestions everyone has made regarding other ways to build my credit. I will likely stick with this card for a little while and go from there.

[VanessaTony 3,567]

Hi Vanessa. I wanted to say thank you for your suggestion regarding the Capital One secured card. I just applied online and was approved with a $49 deposit for a $200 limit.

I appreciate the suggestions everyone has made regarding other ways to build my credit. I will likely stick with this card for a little while and go from there.

Fantastic news!

I stuck with that card for a year+. I checked my score online using creditkarma.com

I applied for a Kohl's card again once my score was in the high 700's and this time was denied for "not enough lines of credit" so I've been working on that little problem.

I have since closed the Capital One account because they charge a yearly fee. My Wells Fargo (my first non-secured) doesn't so that will be a permanent one now. I also applied for (and was approved for) an Amazon Chase credit card which also doesn't have an annual fee either. I haven't seen it on my credit score yet so I've got to find out whether it's reporting to the credit bureaus.

[epsonderby 85]

Fantastic news!

I stuck with that card for a year+. I checked my score online using creditkarma.com

I applied for a Kohl's card again once my score was in the high 700's and this time was denied for "not enough lines of credit" so I've been working on that little problem.

I have since closed the Capital One account because they charge a yearly fee. My Wells Fargo (my first non-secured) doesn't so that will be a permanent one now. I also applied for (and was approved for) an Amazon Chase credit card which also doesn't have an annual fee either. I haven't seen it on my credit score yet so I've got to find out whether it's reporting to the credit bureaus.

Do you bank with Wells Fargo as well? I have an account with BoA and might see what they can do for me in a little while.

[VanessaTony 3,567]

Do you bank with Wells Fargo as well? I have an account with BoA and might see what they can do for me in a little while.

Yep. Been with them since I arrived. I have a "Way to Save" account where I have to use my card 10 times in a month to keep my checking account free (which I more than do) and I have it set up to send $1 to savings every time I swipe to keep my savings account free. There are other ways of course but because my boss is old school and still pays with checks i don't have enough direct deposits going in.

[epsonderby 85]

How different in the US to Aus in regards to banking? I am really surprised that how one manages their checking account isn't reported to the bureaus as standard like it is in the UK. Whenever you open an account in the UK, they run your credit and will often refuse to open an account if your score is too low.

I just wish I could have brought my score from the UK, but I'll just have to start all over again...

[VanessaTony 3,567]

How different in the US to Aus in regards to banking? I am really surprised that how one manages their checking account isn't reported to the bureaus as standard like it is in the UK. Whenever you open an account in the UK, they run your credit and will often refuse to open an account if your score is too low.

I just wish I could have brought my score from the UK, but I'll just have to start all over again...

it's totally dissimilar. You would never be denied a bank account based on credit report. Credit would only matter when getting a phone contract, or a mortgage, or something like that. And not having any credit, like in the US, can be bad as well because no-one wants to be the first risk.

I'd have no idea what my "score" is like in Australia. I had a bad debt once on my report (I forgot how I found that out) thanks to an ex-housemate who didn't pay a bill and told me she did. i paid it (was maybe $100), they removed it from my history. Problem solved. Wouldn't happen like that here.

[epsonderby 85]

Yeah, the UK is a tough place to get credit if you make a mistake - you become a pariah and it takes 6 years for that blemish to drop off. I think it has gotten easier in the past few years though as a lot of banks were losing business.

Don't suppose your Aus score is even an issue now, is it? I have kept a couple of lines open in the UK, but that's merely for folks to give me cash as gifts in lieu of sending packages and whatnot.

[VanessaTony 3,567]

Yeah, the UK is a tough place to get credit if you make a mistake - you become a pariah and it takes 6 years for that blemish to drop off. I think it has gotten easier in the past few years though as a lot of banks were losing business.

Don't suppose your Aus score is even an issue now, is it? I have kept a couple of lines open in the UK, but that's merely for folks to give me cash as gifts in lieu of sending packages and whatnot.

Nah not an issue at all. I still have my Aussie bank account open, linked to a paypal account for the same reason you said, for people to money in instead of mailing presents.