Denied for student credit card, now what?

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Denied for student credit card, now what?

Postby meria » Fri Feb 15, 2013 9:10 am

I am a college student who applied for a credit card for the first time earlier this week, both Capital One Journey Student Rewards and Discover It for Students. I was denied for both and am waiting for their reasons in the mail.

I was considering trying to build my credit while I wait a few months to either reapply for Discover It or apply for Chase Freedom. I see a lot of advice that says to get a secured card to build credit, but as my first card, wouldn't I be penalized if I eventually close it? (I wouldn't want to hang onto it forever...)

I have some student loans (Federal Subsidized and Unsubsidized) that I can start paying down, but they are not yet in repayment--will this help improve my credit score?

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Postby DavidNY » Fri Feb 15, 2013 3:56 pm

Bank of America secured cards should convert to unsecured after a year or so of good payment history.

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Postby moxie » Fri Feb 15, 2013 6:42 pm

Do you have a checking account with a local bank? If you do, I'd suggest walking in to the bank and applying for their credit card. For example, I have heard good results with students getting the Bank of America Student Cash Rewards credit card if they had a BofA account already.

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