No Credit....

[Turbo Terrance]

Yea so since i turned 19 ive tried to apply for loans for school and to finance vehicles and got denied w/ and w/o cosigner im 20 now and tried applying for credit card and a loan to get a motorcycle and got DENIED........:thinking: but i have no credit history and im trying to establish credit..... Is it the economy that holding me back from getting those or am i a victim of identity theft( i seriously think i am)..... i need to get a credit report... what should i do IA?!?

[TIGERJC]

Yea so since i turned 19 ive tried to apply for loans for school and to finance vehicles and got denied w/ and w/o cosigner im 20 now and tried applying for credit card and a loan to get a motorcycle and got DENIED........:thinking: but i have no credit history and im trying to establish credit..... Is it the economy that holding me back from getting those or am i a victim of identity theft( i seriously think i am)..... i need to get a credit report... what should i do IA?!?
lol u have no credit and u think you're a victim of identity theft. :lmfao: Naw you need to build credit by getting a credit card or cards and paying off the balance every month. I've been in your spot, b/c my parents will never co-sign for anyone including their son. To this day I regret paying cash for my mr2 when I was 18 instead financing 20% of the 8500 price tag. You're going to have to put up atleast half down on prolly anything you're looking at financing. Take your time and build your credit instead of going to a dealership that is going to charge you a high interest rate to get you in a car.

[Turbo Terrance]

^^^ I said i got denied for a credit card....

[TIGERJC]

^^^ I said i got denied for a credit card....
you need to pull your credit report

Well you're fucked then, b/c if you can't get a high interest credit card then I don't know who will loan you money

[Alan®]

Yea so since i turned 19 ive tried to apply for loans for school and to finance vehicles and got denied w/ and w/o cosigner im 20 now and tried applying for credit card and a loan to get a motorcycle and got DENIED........:thinking: but i have no credit history and im trying to establish credit..... Is it the economy that holding me back from getting those or am i a victim of identity theft( i seriously think i am)..... i need to get a credit report... what should i do IA?!?
Your guess is probably the right answer.

[Alan®]

my advice to you is to keep trying cause the longer you wait the harder it will be to get one.

[One_Bad_SHO]

Yea so since i turned 19 ive tried to apply for loans for school and to finance vehicles and got denied w/ and w/o cosigner im 20 now and tried applying for credit card and a loan to get a motorcycle and got DENIED........:thinking: but i have no credit history and im trying to establish credit..... Is it the economy that holding me back from getting those or am i a victim of identity theft( i seriously think i am)..... i need to get a credit report... what should i do IA?!?

Are you black?













I keed!

[Alan®]

Also I don't know who you bank with but thats also probably you're best shot. Typically people who know you are going to be a little better about giving you credit.

[redrumracer]

Capital One is a great choice for a starter credit card, if they wont give you one then i would definitely check to see if your a victim of id theft.

oh also if you get denied for a loan or credit you have the right to request a copy of your credit report that they based their decision on with in a certain period of time at no cost to you.

[JennB]

Student Loans - did you try for a Stafford Loan? They are not credit based but need based.

Secured or Partially Secured Credit Card - sucks to have to pay to get one but sometimes it's the only way. Bank of America offers secured and partially secured cards with low limits to get people started on credit or help them come back from bad credit. They do review accounts once per year though and if you pay on time and use the card wisely, they will promote you to a unsecured card.

[flak_monkey]

Capital One is a great choice for a starter credit card, if they wont give you one then i would definitely check to see if your a victim of id theft.

oh also if you get denied for a loan or credit you have the right to request a copy of your credit report that they based their decision on with in a certain period of time at no cost to you.I still have my capital one card. The first one I got. And I only put a couple dollars on it, paid it off.

[The_ CaneCorso]

So I paid off my first franklin loan and my score went from 696 to 620.............

[GIXXERDK]

There are offers for student credit cards, I got one from Bank of America at 18

[Sammich]

you need to pull your credit report

Well you're fucked then, b/c if you can't get a high interest credit card then I don't know who will loan you money

remember though..the economy is being really stingy right now..i say go to a credit union, like i always say..OR...get overdraft protection, thats a small way to build credit too:goodjob:

[BanginJimmy]

Tracy had the best idea. A secured card will show on your credit report the same way any other CC would so it will help to build your credit. The bank is also protected by you using your cash to secure the card.

My brother is currently trying to fix his credit and he has a card secured by his savings account. His credit limit matches exactly with his savings account balance and he cannot withdraw more than his current card balance from his savings account. It is a win/win for both parties as he cannot overspend on the card and the bank is 100% "insured".

[Tracy]

Yea, secured credit card worked for me. I got one last year and now I finally have some credit to speak of and they gave me my money back and doubled my limit. It's not great, but it's a place to start. Now I have 3 credit cards and I am VERY careful with them. I never had established credit before the secured card, so it wasn't bad, I just never established any making it hard to get one. It's like how do you get experience when you have no experience (like in some fields where all positions require experience)? How do you get credit if you have no credit?

[The Youngn]

Open up a CD and get a loan secured by the CD. With the one that i went with....they update it to your credit report EVERY month when you make your payments. PM if you want some more info on that