Questions about my credit.......

For just about anything you want to get off your chest about credit cards.
2 posts
Posts: 2
Joined: Thu Apr 29, 2010 1:37 am
Location: US

Questions about my credit.......

Postby jimbo360 » Thu Apr 29, 2010 1:43 am

So I'm 19, never had a job, and when I recently went to apply for a student card, I was denied because of some negative account on my credit report. I've since sorted it out, but in the process of doing so, I learned that I have several accounts in good standing that are listed in my credit reports for the 3 agencies.

The accounts are all credit cards, I guess opened by a parent in my name, but I didn't know they would appear on my credit report, since I didn't apply for them myself, and all of them were opened before I turned 18, one even dates back to 2000.

Now my question is, does this mean I do in fact have established credit, since these accounts do appear on my credit? I'm just very confused as to what the situation is. Is this going to help my credit?

Also, when I apply for a credit card and am notified of my rejection and the reason, do the credit card companies list EVERY reason why I was denied the card? Or not necessarily? Basically, the only thing they stated on my rejection was that I had a negative account, so if I fixed it and applied again, would I be approved, or is this not necessarily the case?

User avatar
Mogul of Pineapples
Centurion Member
Centurion Member
Posts: 1271
Joined: Sun Jun 01, 2008 11:32 pm
Location: Smogland

Postby Mogul of Pineapples » Sun May 02, 2010 10:21 pm

Dating back 8 years... so I guess that means you technically had a credit card when you were 11? Funny!

You're right in that it does mean you have an established credit history, but from what I understand is accounts like that won't count the same as a normal account in your name only.

On the rejection letter they will usually just list a generic reason, like the "negative account" which could mean any number of things. Did you find out from your parents what this is? That is the double-edged sword with letting others piggy back on a credit card or loan; it helps if everything goes good, but if they face troubles with that account, then it can end up hurting.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

Current Cards:
American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
Primary Everyday Card: American Express Blue Cash
Primary Travel Card: Chase Sapphire Preferred

Return to “General Credit Card Talk”

Who is online

Users browsing this forum: No registered users and 3 guests