how can i get an unsecured credit card?

26 Jul 2010

I am a college graduate. I tried applying for a Target VISA and was declined for “insufficient credit history.” I have had power and cable accounts in my name for over two years and have made those payments and my rent payments on time. I had one hospital bill for $14 in collection a couple of years ago because the bill never arrived at my address, but I paid it quickly once I got the collection notice. My student loans from the US Dept of Education are not outstanding as I am still in the deferment period. So what am I doing wrong? I am frustrated because I know I need to build good credit but I do NOT want a secured card, as it is basically a glorified checking account.

I am concerned now because I tried applying for a Discover More card, which was recommended to me for bad credit, and a department store card, and was declined for both. I know applying hurts my credit score, but have read in multiple sources that certain cards are good for credit-building. What should I do? Again, I do NOT want a secured credit card, so what is the issue? Is it my income, the loans, or what? Thanks.

5 Responses to how can i get an unsecured credit card?

gabby

July 26th, 2010 at 2:56 am

lack of history. . . . start with a secure credit card. That would be the best you can do on your own.

Mad Men

July 26th, 2010 at 3:27 am

Sure use CreditCards. com.

JIM

July 26th, 2010 at 4:14 am

So if you were expecting the hospital bill, why did you not contact them when the expected bill did not show up.
Basically the credit card industry is seeing way too many of these “I never received the bill” type of claims as a reason for an account being in collections, and so the very word collections rings alarm bells in the mind of those assessing applications.
There is no known widespread problem with USPS, and so those giving the “non receipt of bill” excuse for their account going into collections are no longer believed

Chris A

July 26th, 2010 at 4:56 am

Whoever recommended the Discover More card for bad credit, stop listening to them. They don’t know what they’re talking about.

Have you pulled your credit reports from annualcreditreport. com yet? Neither power, cable, nor rent show up on your credit report, unless you stop paying them. Then, obviously, they are negative. That leaves a collection account for the hospital bill and your student loans in deferment. So you have no positive history on your credit reports–just a late payment and a loan you haven’t started paying yet. You should try to get the hospital to remove the late payment–they might do that out of good will. Then get a secured card. I know you do not want one, but you need one.

Joe Welliton

July 26th, 2010 at 5:18 am

My name is Mrs Yung Lee,I found your ads seeking for where to get a legit loan lender. Please let me use this medium to inform you that i got mine from this Joe Welliton loan firm , you can contact him on;{joewellitonloanfirm@yahoo. com}

wg0z: They charges YOU TONS more! I suggest you not to go there. Find one from friends or relatives with [...]

wizjp: As far as the lender is concerned, hubby has no way to repay the debt. [...]

OSCAR: Short answer. No NO gainful employment means they legally CAN"t make you an unsecured loan. [...]

Judy: Payday = the day you get paid in your employment Payday loan = a short term loan repayable in full [...]

Anonymous: hey, eddie! we got another one here who signs contracts she doesn't understand. roll out the paper [...]

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