Are Charge cards easier to get approved for than a Credit card?
by Author on Tuesday, August 31st, 2010 | 2 Comments
I have no credit report, no credit history and I'm a student..but I've applied for several personal loans and credit cards and only got approved for a secured credit card from BoA. So yeah, several places have tried to pull up my credit report without success. (I can't even pull up my own credit report for some reason!) I want to build credit, do you think I will get approved for a charge card or is it going to be just another dead end? Thanks. =)
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The best thing to do to build credit is to get some utilities in your name and pay them. Right now, creditors are tightening up. Its not surprising that you havent been approved at all, because with the economy banks are not wanting to take any chances.
And, getting a credit card for the first time probably isnt really a good idea anyways with this economy. You will end up charging more than you can pay, which will be bad. No credit is ALWAYS better than bad credit.
As a student, you can apply for a student credit card such as Capital One Student Platinum Card. These card would help you establish credit. You can also access your credit report for free. http://bestcreditcardratings.com/student-credit-cards/