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Today, I decided to apply for a credit card to help build up my credit rating. It seemed smart since I'm a 24 year old college graduate. I was rejected for not having a credit history. Being rejected turns out to hurt your credit history. The irony of my predicament is too great for words. FML
I don't understand this at all. Credit Card companies used to have people on my college campus all the time because, since most of us didn't have a credit history, it was easier to get credit cards.
Here's my advice. Open up a secured line of credit with your bank. You give them a certain amount of cash, and they put it on a card for you. That card works like a credit card on your credit score, but you don't get into crazy debt over it. It's prepaid.
Depending on who you're banking with you can get this card that is sort of your training wheels for the future. You put 200$ in an account then they give you a card with a 200$ limit to use. If you use this card correctly they will then give you a full fledged credit card. Look into it, it sucks but in the end it's worth it.
Speak your mind, but please try and be respectful.
Friday 30 January 2015