2 ms·

I was denied a secured credit card when I had a job paying $65k/yr. A secured credit card. How can you be denied for that? I don’t know but I managed. I had 0 c

I was denied a secured credit card when I had a job paying $65k/yr. A secured credit card. How can you be denied for that? I don’t know but I managed. I had 0 credit history btw. Literally none. When I finally got to $110k/yr I was able to get a $300 credit limit card.

trashcan 5y ago
It's crazy how everyone has a different experience. I was given a $300 non-secured credit card while I was in college with no income. They automatically raised it to 12.5k over time without even asking me.
- bradlys 5y ago
  Which is why this shadow credit score shit is even more absolutely appalling.
- gwbas1c 5y ago
  Did you co-sign student loans with your parents? That's one of the easiest ways to build credit.
  - trashcan 5y ago
    I did not. I think it may have been because it was a credit union associated with the college I was going to.
throwaway48375 5y ago
When I was first building my credit I did a bunch of research and found a credit union that would let me take out a 12 month secured loan and then used the proceeds from the loan to open a secured credit card. I immediately paid off all but one payment on the loan pushing out my due date to the 12th month and scheduled an autopay for the final payment (this way I only had to pay a trivial amount of interest). This particular credit union has their secured cards "graduate" to unsecured cards after 1 year of on-time payments. Right before the card "graduated" I dumped all the savings I had into the card. They returned my security when the card "graduated" and I was left with a 12 month on time installment history and a significant unsecured credit line. After that I didn't have any problems getting approved for other cards with limits sometimes even eclipsing my annual income. I figured all this out just by reading web forums.

2 ms·

I was denied a secured credit card when I had a job paying $65k/yr. A secured credit card. How can you be denied for that? I don’t know but I managed. I had 0 c

by bradlys 5y ago

trashcan 5y ago
It's crazy how everyone has a different experience. I was given a $300 non-secured credit card while I was in college with no income. They automatically raised it to 12.5k over time without even asking me.
- bradlys 5y ago
  Which is why this shadow credit score shit is even more absolutely appalling.
- gwbas1c 5y ago
  Did you co-sign student loans with your parents? That's one of the easiest ways to build credit.
  - trashcan 5y ago
    I did not. I think it may have been because it was a credit union associated with the college I was going to.
throwaway48375 5y ago
When I was first building my credit I did a bunch of research and found a credit union that would let me take out a 12 month secured loan and then used the proceeds from the loan to open a secured credit card. I immediately paid off all but one payment on the loan pushing out my due date to the 12th month and scheduled an autopay for the final payment (this way I only had to pay a trivial amount of interest). This particular credit union has their secured cards "graduate" to unsecured cards after 1 year of on-time payments. Right before the card "graduated" I dumped all the savings I had into the card. They returned my security when the card "graduated" and I was left with a 12 month on time installment history and a significant unsecured credit line. After that I didn't have any problems getting approved for other cards with limits sometimes even eclipsing my annual income. I figured all this out just by reading web forums.