Why do i capture decline at 18 next to a credit card application? I had just turned 18 a few months, ago but when

I had just turned 18 a few months, ago but when i chose to sign up for a credit card tonight at 2 locations..
www.newegg.com and
www.officemax.com
i be declined with this message "LIMITED SATISFACTORY CREDIT HISTORY"

I'm trying to make out what exactly that means, i have 2 ridge accounts all good, no problems, and no credit cards.. How can i establish righteous credit if i cannot even get a credit card?

Or do you know of any sites or stores that have a hard by 100% approval

As previously stated, being 18, you have really little or no credit history. Lines of credit, especially from retailers are hard to get.

I would shy away from store or retail credit cards. They tend to hold outrageous interest rates and very low limits. Plus you can singular spend at that store, so your scope of functionality is extremely narrow.

Now, you want to receive a credit card to build some history. There are a few options:

1) Gas card.

They are very glib to obtain but carry large interest rates. Yes, this is a retail credit card like I told you not to get, but this will build history as you will use it adjectives the time to get gas.

Go to your local major gas station you frequent, acquire a credit application or go online to their website. They usually have apps online.

Then clear the thing off for 6 months to a year beforehand trying to venture into other credit cards.

2) Credit card from your bank

If your hill accounts are at a larger type institution (US Bank, Citibank, Bank of America) they may be able to help you start next to a credit card. Since you have bank portrayal history with them that will help.

3) Good start up credit card companies

Capital One comes to mind. They give my sister credit right off the bat. But I have never like their card products. However, it would be a good option for you since you are starting out.

4) Secured credit card

Many culture with little credit history go this route. Basically you place a bread deposit equal to your desired credit limit. You are then issued a card. As long as you pay cheque your credit card bill, they won't touch that deposit. After a year or so they may offer you a normal unsecured card and contribute your deposit back. If you default though, they will run your deposit up to the defaulted amount.

Essentially that deposit is what we call collateral within loan talk. Most credit cards are called unsecured loans. They are loans which enjoy nothing but your credit history and good word that you will repay.

However, the collateral tell the bank that they have something contained by case you decide you can't/won't clear on that credit card.

Anyways, whatever route you choose, good luck!

It's merely like getting a decent undertaking...they want you to have experience to get more, and it sucks. Try taking out a loan from your edge, since you have good standing in that. Pay back the loan, even if it is just taking it out and putting it pay for in, and then skulk a few months, and apply for a credit card. You should have more luck.
Having no credit is like have negative credit.
Another thing you can do is purchase a few items (like a computer or a tv) from Best Buy or something and compensate it off monthly. Get a cell phone in your identify. Those things count. Even if your parents are paying, ask them to transfer it to your name.

Answer:
Follow Echo's advice, it's excellent. But I disagree with one entity.

If your parents have good credit, consider have them co-sign a credit card for you. That will look better then being an authorized user on their card.

Other accepted wisdom...join a credit union. They are usually a bit more willing to give credit, since they are a applicant owned bank and not out to make the big bucks that bank do.

Apply for some loans. Secured loans look great on your credit.

I was once in your position. I have a very good situation. I paid cash for my motor, and every time I used my credit card I paid it off at the pause of the month. Many times I over paid so I had a glum balance.

When I was 23 (this be back in 1978) I have saved $40k. I planned to put $20k as a down payment to a house, and spend the rest to buy furniture/appliances. Anything else I would buy on credit.

I get turned down for a mortgage! The reason? No credit history. They did not consider my single credit card history sufficient.

Go figure! I finally manage to convince them I was a good credit risk. But I cultured my lesson.

Now I tell people to gain their kids a credit card at 16 (have the parents co-sign). Keep the limit to $200 so they don't screw up.

That passageway, by the time you are 20 you have established a 5 year credit history and will have no problem getting more credit.

A mound account usually has little impact on getting a credit card for the first time. Your best bet is to apply for a student story through someone like Visa. They will set a low limit (like $500) and you obligation to have someone co-sign on it with you. They also request information in the region of income for both you and your co-signer. You need to have a primary credit card almost always before person approved for smaller ones. Try to limit the number of cards you have. Every time you apply for a alien card, it can lower your credit score.

Build a history.

A secured card is a great instrument to start. Shop around for them at www.bankrate.com.
Also start off with gas cards and department store cards.
Also, see if you can help yourself to out a loan.

You need a history first. Try and get 4 lines of credit going.

Before you can return with a card or a loan with a good rate, a lender desires to see that for the past 12 to 6 months at least 4 financial institutions voice that you pay your bills on time.

In the tight time while you are starting out:

Always be on time with your payments
Never max out a card - within fact you should not borrow more than one third of the amount lended to you
Use your credit. It looks bad if you enjoy a card that is never used.

Later on when you can get dutiful cards you will be able to cancel the illustrious interest ones.

LIMITED SATISFACTORY CREDIT HISTORY means you are too young to bring a credit card and regularly pay your bills. Once you land a steady brief and have proven that you can discharge/ handle monetary responsiblity over time, consequently they will be falling over themselves to throw creadit cards at you.

you were decline because you have no credit history. get a secured credit card or try jc Penney or sear to start with but be sure to make your payment's in good time.

Like some of the posters mentioned, credit card history is different than sandbank account history.

You may have to start out beside a secured card.

Or, if your parents have cards that have great history and low utilization, you might ask them to join you as an authorized user. If they will, be sure and have them request that it reports on your credit report. They will have to impart your SSN for that.

If they add you, wait until it starts reporting next apply for a card.

If you cannot be added as an AU, you might try the following sites:
Bank of America, Orchard Bank and HSBC. They have a card selector on their site that will not pull a rock-hard inquiry. If you apply for a recommended card, then they will pull a not easy inquiry. Keep in mind that even if a card is recommended, there is no guarantee that you will be approved.

I would start beside BofA first since it is in the prime range.

Stay away from Cap One. They will singular damage your credit by not reporting your credit limit. They simply report your high balance which make it look like you have over utilized your card.

You might try Walmart. Also Chevron/Texaco have a builder/rebuilder card.

There really isn't 100% approval on major credit cards. Unless you go really sub prime. But then you would be paying out more than the card is worth in non refundable fees and deposits.

The solely one that I know of that is a guarantee, and worth getting for the tradeline, is Crown Jewelers. They do not pull a credit report. The individual catch is that you have to trade name a purchase for them to report to the credit bureaus. But, for $20 or $30 you may have a $1500 credit limit reporting.

It channel essentially that you have no credit history. Go to your bank and see if they will issue you a credit card. You may also be capable of co-sign with a parent.

Be warned that you may be given a severely high interest rate because of you lack of history.

There are 2 primary factors that determine your credit worthiness.

Your debt to income ratio and your payment history... you also enjoy to be aware of your length of credit (how long you have had overt unsecured accounts, etc).

Here is how you can get a credit card to begin near... first you need to get a secured card - you put money into a fund beside the bank.. and you are issued a credit card for the same amount of money... if you fall through to pay they simply take the money from the fund... This will sustain you to establish a payment history... after 6 months of using the card and making timely payments you can roll this over into an unsecured credit card.. continue on duplicate process... dont apply to too many cards at a time (more inquiries for new credit scare lenders... they think that you are desparate and will not repay your other obligations)... It takes time and responsible goings-on to build up your creditworthiness.. You can also have your folks sign on as co-applicants, or guarantors of the card... but make sure that you dont fall down behind - it affects them too if you do... I always recommend that parents chronicle their children on as co-applicants for a credit card - that way when the child reaches 18 they already own a lengthy credit history (and unless your folks are bad near paying bills). look like a good risk for bank. hope that helps...

i found a site with 100% approval credit cards... I didn't certainly apply for the 100% approval. I applied for the Orchard Bank Platinum Mastercard, it was on the list as a poor credit credit card beside a high overall rating and a benefit rating. View the source