[Onemanzu]

So, I got a credit card a few months ago, with a limit that allows me to buy a stick of gum and a pop. W.e no big deal, I purchased a few things on it to build a debt and am slowly paying it off so creditors can see that I am responsible, blah blah blah.

Well, since I got my card with very little purchasing power, I have applied for other cards to increase my ability to prove that I can in fact pay off debt and am a good borrower but NO ONE will approve me, Bestbuy said I was denied because of

LIMITED ACTIVE ACCOUNTS OR DEBTS REPORTED.

What do I have to do to get my credit score up?



uhgg...

[GTsetGO]

how long have you had the one CC?

[Onemanzu]

i'll be making my 5th monthly payment on it this month, so 5.5 months? something like that.

[Traidmarx]

probably have to show at least 12 straight months of steady payment history...keep in mind that alot of financial institutions are tightening up on the credit standards.

[Onemanzu]

yea but still. I need a laptop, it will take me 2 months to save up with my current expenses. If I could get a store specific card with a medium to large limit, enough to buy a laptop, and pay it off over the next 6 months that would be awesome.

It just sucks that other people fuck up and it effects me, I can't get any kind of leeway or anything.

[98stangv6]

Originally Posted by Onemanzu yea but still. I need a laptop, it will take me 2 months to save up with my current expenses. If I could get a store specific card with a medium to large limit, enough to buy a laptop, and pay it off over the next 6 months that would be awesome. It just sucks that other people fuck up and it effects me, I can't get any kind of leeway or anything.

Im in the same boat as you man. I just got my credit card not that long ago and ive been wanting a best buy credit card for a long time and i still cant get one.

[atlacatl213]

Buy jewelry using credit?

Come one I know you have feelings for some girl

and what are Juevos?

[Traidmarx]

Juevos = Nuts


store cards are actually usually harder to get than going through a credit union or try going to a well known credit card lender. Capitol One is usually okay...but then again some people get caught up and can never get a credit card I'm 23 at one time my credit was near 700 when i was 21 but i bought a BMW that cost me about a 1100 a month including the insurance and my credit soon went to shit. but i still had offers coming in. My friend who has never missed a payment on a single loan he's had in the past 5 years (8000 for an 04 GSXR 600, 16000 for a 02 Camaro SS, 12000 2008 GSXR 1000, and 23000 for an 04 GMC Yukon Denali) all of which he's paid off except for the yukon and he still can't get a credit card to save his life.

[atlacatl213]

I know what Huevos are, Juevos don't exist...

Hey Omz, your school don't have a student credit union?

[Traidmarx]

ha good point my spanish is a bit rusty

[GreenFaleen]

add a line of credit to your checking account, like 3000 dollars, take out 1500, as soon as it shows up pay it back then never use it again

[Smoothgrandmama]

Creditors like 3 years of credit history. You wont be able to get more than a 750 card

[Onemanzu]

Originally Posted by atlacatl213 I know what Huevos are, Juevos don't exist... Hey Omz, your school don't have a student credit union?

W.e I speak spanglish so back off... J=H and spanish=not my first language.

Originally Posted by GreenFaleen add a line of credit to your checking account, like 3000 dollars, take out 1500, as soon as it shows up pay it back then never use it again

Ill look into that, and the university credit union, never thought of those.

[ReverendDexter]

Good credit takes tremendously longer to register in your credit score than bad. Bad credit is applied immediately, the soonest you'll see good is 6 months. Also, having multiple credit checks (like applying for cards) in too short of a time period will incur a credit penalty.

If you want to up your credit, keep making those payments (and pay a little bit over minimum if you can - not much though!). It sucks, but remember you're borrowing from a BUSINESS. That means they're in it to make money, NOT to help you out. It's NOT supposed to be fair, it's supposed to put you in a position of giving them money every month for as long as possible.

[Lefty]

Get a personal loan from a bank first. That helped me first...

[Ugmul]

I was in same boat about a year and a half ago. Started when I got my stang, noticed I had real bad credit, not sure why. Check out Freecreditreport.com, this saved my ass big time. Logged on, checked my score and I had some random debt of 140bucks. Click of a button, filled out some questions about what it was or why I think its false. They submitted it, like 2 weeks later, its removed from my record. Score goes up 100 points.

I got a new bank, signed up for a credit card. Got it and found out it had a $200 limit. This was Feb08. 6months later, they raised its limit to 600, last month, raised it to 1200. This is without me asking or anything. Just keep using it, pay it off full or damn close.

Applying for lots of credit cards/loans in a short time is bad, it will effect your score and some systems will deny you just because you went to 3 places before you got to them in that month. Computer assumes that you are a risk because blah 1, 2, and 3, didnt want to give you cash.

Hang in there keep track of your score, its not quick to work on credit, but it can be easy.

[mustangsoldier]

store specific cards are harder to get than normal credit cards or personal loans... they have less room for risk.

[Lefty]

I'm 19 years old and have a credit card with a limit of $15,000

I took loans out when i was around 14-15 years old (i've been working since I was twelve at a daycare helping out). my parents co-signed for the loans. Now; when i went for a cc that was my limit. i was like holy s*^(

[Tony_90fox]

i missed like two payments on my phone bill...I'm sure my credit is now fucked

[Ugmul]

Damn, good luck with that one,

scary to know at 19 you could go buy a car on your credit card if you wanted to.