I was very surprised to find difficulty getting a credit card. After getting rejected they sent me a list of reasons why I didn't get approved, and while I am confident I can pay - I can see why they didn't trust me.
- My score was lower than expected since I cancelled all my credit cards and took out some student loans (last year it was about 680, now I believe it was 630)
- I have been unemployed without a job for awhile and only got employed within the last month
- I am working as a "temporary" worker and therefore am a risk since it is not a steady reliable source of income (although I actually get more hours here and are at less risk of loosing my job than in any previous job)
- While I am employed, My student loans vs how much I expect to make in a year doesn't look good. I'm on my 4th year of college and have $9,000 in loans. I personally have a solid plan on paying for them, but from the point of view of a 3rd party lender I can imagine those wouldn't look good especially since I've made on average $7,000 a year while in college and I have been unemployed.
I am not opposed to taking out a secured card (I have up to about $500 that I'd easily relinquish for that purpose... about $1,500 total in savings) However while talking with customer support the best I can get is a "there is a higher chance you'd qualify with this one than other cards." (that really doesn't answer my question)
High interest rates or low benefits are not a big deal as of right now- I plan to only spend a very small amount in order to build credit.
Also, I am not interested in applying again unless I feel fairly secure I'll qualify. I've applied to two places in the past week (once with my personal bank, and one that had assured me that I'd qualify based solely on my credit score.)
Thank you for any advice you might give.