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Question:

Cant get any type of credit?

Well this is two questions in one (1) I tried opening a secured credit card with my bank (bofa) but was denied and then I tried getting one at citi and wells but was also denied :( I applied for an orchard bank card but was denied. 2 months ago I had a score of 423 now its 626 because I had both of my credit cards (Chase and Capital One) redo my credit report to say that I paid on time. I cant get any credit anywhere and I want to get a car and a house one of these days (need a car terribly) and am trying to raise my score alot more. What more can I do? (2) I work at Victoria's Secret now and something terrible happened the other day. I told my manager I was THINKING about opening a credit account with the store. She thought that this was my way of saying I wanted an account. I was purchasing myself a mothers day gift and she checked my credit using my debit card. I knew I had already been denied before for other credit. She was desperate to open acccounts at the store. Its part of the job to open credit card accounts so she really wanted to get me the account I was thinking about getting but didnt want. I really want this off my report. Im trying to not apply for anything else. I dont have any type of credit anymore due to the fact that both credit card companies closed my accounts because THEY refused to help me even though I paid a payment protection on both which helped me get the negative marks removed. I have no credit to build upon now and I really need a way to build my credit so that I can get a car and a home soon

Answers:

1) Tempting as it is, stop applying for more credit, if you have two cards already keep the balances at half of your line of credit. Try the car dealers that advertised bad credit financing, it sounds like that's what you will qualify for. Do your research if you do qualify, get an auto with less than 100K, when you try to refinance this high interest loan most lenders have 100K as a limit on miles. I would think by next year your score would be 650 and could apply for a home loan, this will not count against your score.

2) You can get a credit card and not use it!!!!! just activate it and then cut it up...... I have don this many times... SO if you don't have it you can't use it!!!!! and when it comes due again do it again!! it will build up your credit.... But be sure to only use NON FEE cards..... Most dept stores are E-Z to get a card from.... you start small then BOOM you will soon get Visa, Mastercard, Discover...ect

3) Ok, here's the deal... I'll answer your questions in the order they were asked... 1. If you're having trouble getting a card, and you've went to Orchard, Wells, and BofA, then you may want to try the UltraVX card. This is a hybrid prepaid card/secured credit card. Here's a link that explains more in detail: http://www.ultravx.com/ 2. Now, as for you 2nd question, I'm a little confused as to what actually happened. When you say you "really want this off my report", are you referring to the inquiry or the account that was recently opened? If it was only an inquiry, I wouldn't worry too much about it, just don't apply for anything else, but I'll assume that you did in fact get approved for an account. So, what I would do in your situation would be to make the most out of it. If you got approved for it, why not build credit with it? You mentioned in your first question that you were having trouble getting approved for credit. Most times I'd advocate refraining from using store cards. but in your case, if that's what you can get, then you have to start somewhere. Just buy something small with it every month and pay it off. If you couple that along with that UltraVX card I reccommended earlier, then you have 2 trade lines building credit for you. Also, for the monthly bills (rent, utilities, cell phone, insurance) you pay that don't normally report on your credit, only when it's sent to collections, you can report these accounts with PRBC, an alternative credit bureau. I've posted links below that explains all this more in detail, and hopefully this will help you out! Good luck!

4) Getting credit stablish its hard and costly but possible, sounds like your credit score is high enough for you to get approved for a few credit cards but to play it save I would start off with a lower end card like premier Bank card this guys will get you approved but have some upfront fees. What I would do is use this card for a few months and pay in full each month that way you do not pay interest and build credit at the same time. check out www.fastcreditcardapprovals.com and go under bad or no credit section. http://fastcreditcardapprovals.com/

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