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My 1st question is: Are Visa and Discover Card the same company? Thanks in advance for any response. Another quick question... I am an 18 year old college student and I'm trying to build a credit history so I can actually get a car loan when I need it in about a year or two. I've applied for several student cards without any luck. Any ideas?.. |
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Of course! but you might wanna make sure and wait for someone else to confirm it as I am not sure. Better yet, why don't you email the Discover Card guys because they can answer you better...
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All except Chase were lack of history. Chase was too many inquiries. Actually, I called walmart and they said i'll receive a letter in 7-10 days. (that was about 3 weeks ago) never got a letter...
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Next time for STORE CARDS>APPLY INSIDE THE STORE.
Less questions...higher credit limits.. |
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Thats odd. when I was 18 and in college, there were peeps from citi and discover always handing out apps on campus for a tshirt. they all approved. bank of america did too -for 5k cards even though I didnt have a job..
Oddly enough, that is what lead me to this forum for help.. |
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With the changes in the laws, I would think the secured card path is your only option. I have heard that Orchard secured is not a bad.
Deal. Just don't apply for their unsecured products. That sort of subprime TL wont grow with you and will haunt you with low future limits for a. A long time... |
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OP is hurting themselves with inquiries at this point. I would recommend they find a local CU and get a secured product. They might also look at the older methods of opening the CD and doing a share-secured loan against the CD (net cost is often about 2% above the rate being paid on the CD) and then take the proceeds to put into one or two secured cards.
In such a strategy, the two secured cards show revolving history and the installment history also begins to be built, which is something that may assist with the auto purchase down the road... |
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Do you have a CHECKING ACCOUNT/SAVINGS ACCOUNT with a local bank???.
Might want to start there???. HARDS ADD UP AND BITE YOU IN THE BUTT (unless you are real special).. |
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I suggest applying wherever you bank first. That's what my college kid did - banks at BOA so he got his very first card from BOA, got a $1500 card. He applied in person, with no credit history whatsoever and no cosigner or "authorized" user history. He's in college full time w/ 90% scholarship, works part-time, owns his car outright, has savings, checking, and brokerage "IRA" accounts..
This first card he used it and allowed the card to report with minimal 10-25% usage of the limit for about 6 months. After that his first pre-approved offer came in from a regular Discover card (got it, $2,500) and next was Chase Sapphire (on it's way now, no idea on limit). And BOA preapproved him to a worldpoints (has not applied yet) all about one year's time.. Edited to add that he's not 21 yet... This post has been edited by x-large debt: 24 January 2010 - 09:51 PM.. |
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What about your parents. Would they be willing to put you on as an AU, assuming the cards have a good track record? Then try for a card on your own...
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+1.
Further inquiries are only self-defeating at this point. Student cards have tightened up along with all other forms of credit, perhaps somewhat more so. I agree with the secured card idea and the AU card if possible... |
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+1.
This is no more on topic, and not helpful to the OP.. This post has been edited by tryn2getup: 25 January 2010 - 02:19 AM.. |
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I don't get it....
George asks what is seemingly a valid question that can add to the conversation and someone tells him it's off topic and not helpfull. Someone points this out and an administrator slaps them down for it.... Isn't the administrator doing the same thing, atleast try added something useful in the same post..... And why beat George up? I thought I had heard something similar, it is a legitamate question.. I thought that you couln't apply for credit till you were 21 or something too with these new credit laws????.. |
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I wasn't trying to peev you off George, & no matter HOW many TIMES you say that CAPS are not YELLING, that is how it LOOKS!!.
Love ya all the same, thanks for all your insight & help over the past year.. Aly.. |
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Had I invented the internet instead of Algore...one would be required to use CAPS pm a daily basis or they would be banished for life.
Lower case is not as easy to read. CAPS ARE VERY EASY TO READ.. |
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I WILL USE ALL CAPS & BOLD FONT THEN, TO THANK YOU FOR YOUR HELP OVER THE LAST YEAR GEORGE!..
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During my lurking phase, GEORGE was one of the few members that stood out to me due to his style of speech and wonderful use of STYLE...
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I guess I am a function over form kind of guy. what good is style if you're information in wrong?..
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And youre just here to flood the board with your nonsense as usual...
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I just want to thank you for your cogent and helpful replies...
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