Rejected for credit card.

[Doclector]

I spent two weeks being stressed and worried when they said they'd respond in one. I filled out their BS form, I dealt with their f***ing call centre, and they reject me. F*** them.

I need a credit card to get my credit rating up, because I've never borrowed a f***ing pound in my life. Yeah, innocent until proven guilty, one of the core elements of a civil society, is completely ignored in the case of the banks, and they wonder how the system is crashing down around them. Oh wait, they couldn't admit that, they'd have to go jail with all the other f***ing conmen.

I'm afraid to even go on card sites. They're f***ing thieves, all of them. I'm surprised they haven't put malware on my laptop so they can skip the bullsh** and steal like anyone else does it these days.

They're always talking in financial terms that only they understand, so they can con you, and you can't do anything about it.

I don't even know why my credit rating's so important, I only know that it is.

I'm so f***ing pissed off and stressed, I don't know what to do. Should I even bother? Now it's going to be even harder to get a card. Should I find out if I have any kind of legal hope? Not likely, the goverment decides what's legal or not, and them and the banks are best f***ing buddies. Should I just go to one of the branches, and demand I get answers, otherwise, every f***er in there gets what they deserve?

 

[Craorach]

Firstly, calm yourself down, and do not get angry in a bank. Keep calm, be polite, and remember that the people there are just following their bank's.. and possibly the law's.. rules.

Depending where you live, credit companies could well be constrained by all manner of laws. I'd primarily recommend going to the bank you've dealt with most in your life, wherever your savings account for work is. Arrange an appointment and sit down to discuss the issue with them, explain that you want to get a credit rating responsibly.

Another option is to approach a rental company, who deals in white goods, furniture, etc. They will probably deal with credit ratings as well, but may be more able to offer you a cheap product which you can improve your rating by renting. Laptops, TVs and entertainment systems can be good for this.

Rules about credit are there for exceptionally good reasons, as all the recent economic BS was primarily caused by people being over extended for credit... from individuals to entire nations.

The most important thing is, once you do get something, make 100% sure you are up to date and perfect with payments. If it's a credit card, freeze it (literally) and never use it except for emergencies, constantly paying it off. If it's a contract of any other kind, ensure you pay and are willing to keep it up for the entire length.

 

[Eclipse Dragon]

Adding to the post above, if you have credit unions around you, you could try to join one of those. They tend to be smaller banks that will give you a credit/debit card. You can do anything you need with it you could normally do with a regular credit card, but it functions like a debit card, where the money is taken out of your account soon after.

As long as you don't overdraft, you'll build credit with the credit union.


Another option, if your in college or will be going soon is student loans. Which is a type of loan you can't be denied for. When your finished, the payments will build credit.

Same with cars, although you probably wont be able to get a car without a co-signer.

 

[bluepilot]

It is normal to get rejected from credit cards. They have been pretty picky since 2008, for obvious reasons. It used to be easy to get credit, they used to GIVE is away with freebies,right now...meh. There are several companies that cater to different individuals. I got my credit card through my University after being rejected from the back I use. So, do not not take it personally. Blame Goldman and Sacs, or Fred the Shred.

 

[Giftfromme]

Rejoice in the fact you can't buy something silly, and enjoy what you have right now. Live for the moment, not for some future happiness you might get from a purchase. Unless you are going for a house, at which point I run out of advice lol

 

[Craorach]

Rejoice in the fact you can't buy something silly, and enjoy what you have right now. Live for the moment, not for some future happiness you might get from a purchase. Unless you are going for a house, at which point I run out of advice lol

While, in principle, I agree with you.. the reality of the modern world is that credit ratings, and credit in general, are important to have.

One can live from day to day without it, if you budget properly, but the moment you need a vehicle, or a home, or an expensive appliance you are going to be living above your means. Only in an ideal situation can you live by savings and income alone.

 

[Rainmaker77]

It is normal to get rejected from credit cards. They have been pretty picky since 2008, for obvious reasons. It used to be easy to get credit, they used to GIVE is away with freebies,right now...meh. There are several companies that cater to different individuals. I got my credit card through my University after being rejected from the back I use. So, do not not take it personally. Blame Goldman and Sacs, or Fred the Shred.

It is indeed difficult. For my first credit card (I needed one for exactly the same reason as the OP, simply to increase my credit rating for any future morgage/loan etc) I applied for credit cards with 40%! intrest. I didn't get one.

I was supprised, my credit rating wasn't bad, I just didn't have one, and I was rejected for a credit car designed for people who have never had a credit card - what was I to do?

Simple, got one from my current bank, better intrest rates and airmiles too! The bank you have your current account with knows your financial status better than anyone and if you are going to get a card from anyone it will be from them.

Good luck getting your first card, and try to only spend what you have.

 

[Giftfromme]

Rejoice in the fact you can't buy something silly, and enjoy what you have right now. Live for the moment, not for some future happiness you might get from a purchase. Unless you are going for a house, at which point I run out of advice lol

While, in principle, I agree with you.. the reality of the modern world is that credit ratings, and credit in general, are important to have.

One can live from day to day without it, if you budget properly, but the moment you need a vehicle, or a home, or an expensive appliance you are going to be living above your means. Only in an ideal situation can you live by savings and income alone.

Lol I bought my car with cash...so yeah I haven't used a credit card at all in my entire life. Nothing I have bought is with credit cards. We shall see if this has an impact later in life. I guess I'm lucky in that I still live at home and can easily save money

 

[Craorach]

Lol I bought my car with cash...so yeah I haven't used a credit card at all in my entire life. Nothing I have bought is with credit cards. We shall see if this has an impact later in life. I guess I'm lucky in that I still live at home and can easily save money

Extremely fortunate.

Once you get out on your own, with rent, bills and groceries, saving becomes extremely difficult if you are on a low to medium income. Often what happens is that you save.. and one unexpected bill comes along and wipes you out.

I don't know if you've ever seen the movie UP, but the opening sequence is just about typical for the savings of low to middle income families.... constantly needing dip in for minor, but vital, things like repairs or outright replacements of vehicles, white goods or other unexpected events.

 

[Angie7F]

The market is tough and the credit cards are extremely picky. So do not take it persoanllly.
Like mentioned, trying for a smaller company, or using your school etc is a good idea.

But in the end, I got rid of all my credit cards.
So much simpler with out them, trust me...

 

[TakeyB0y2]

From what I've seen, as long as you're working most card companies will accept you. I have two credit cards, one for the store I work for (which I have to use if I want to get my employee discount... Yeah, I see your ulterior motives, company who's name I shall not name) and one through my bank, which gave me a RIDICULOUSLY high available credit (higher than what I disclosed as my monthly income).

I guess it varies by region. Seems like where I live (Calgary AB) they'll give a credit card to just about anyone.

But honestly, I can see why they'd be choosey. Like I said, the store I work for has it's own credit card, and as a cashier I have to process credit payments for people. I see people come in with credit statements that can be as high as $4000 and they'll only make a minimum payment, it's terrible.

If your bank has their own credit cards, they're definitely the ones to go to, or if the company you work for also has their own credit card, see if you can get in on that. They're more likely to accept you then.

Here's another thing though: getting rejected for a credit card will actually get you a credit score, but it'll be negative, so don't apply willy nilly. Do some research, find out which ones are more likely to accept you, and go to them.

 

[Nigh Invulnerable]

Try a Savings Secured card. Basically, you put $100 into savings,and you can't touch it, but you do get a credit card with a $100 limit. Use it to buy gas and random snacks and then pay it off every month. If you decide to default on the card, they just keep the $100 in your savings, if I understand it correctly.