First Credit Card, Need Help... Please

For just about anything you want to get off your chest about credit cards.
5 posts
ajcarter
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First Credit Card, Need Help... Please

Postby ajcarter » Sat Jan 18, 2014 9:17 am

Hey,

I am currently a college student (19 y/o) looking to start managing my finances and in that process, would need to start building credit. Therefore, I went ahead and applied for two cards on the same day, around the same time - which was my first mistake. I applied for Discover It for Students, and Capital One Journey for students.

Naturally, I was rejected. Capital One's reasoning was: "Based on report from [credit bureau] for [name], credit bureau information is missing or unavailable"

Discover's reasoning was: "No Savings account"

I have went ahead and rectified both by getting a savings account, and calling/mailing information to all three credit bureaus (since, apparently no one knew I existed).

All of this was done in August 2013.

What do I do now? I was told wait 6 months, then I was told you don't have to wait. I need some guidance.

I don't really want a store card, but if thats my best bet- I'll do it. I really like the Discover It for Students.

All responses are greatly appreciated! Thanks in advanced!


Obi-dan
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Location: Houston, TX

Postby Obi-dan » Sat Jan 18, 2014 4:27 pm

I don't know if too much time has passed but I would call Discover's recon line and say you now have a savings. They may make you reapply since it's been more than 3 months. When u worked at a bank apps went stale in 3 months. You can find recon numbers on this site and on the web.
Cards:
Chase Sapphire Preferred
Marriott Rewards
Citi Hilton
Barclay Arrival
AMEX BCE (member since 95)
Chase Freedom
Discover It
Wells Fargo Platinum
Barclaycard (Apple)
Local Credit Union Visa (buy local!)


FICO Scores:
TU: 824 (Aug 2014)
Experian: 789 (Aug 2014)
Equifax: 807 (Aug 2014)

MemberSince99
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Postby MemberSince99 » Sat Jan 18, 2014 5:00 pm

Discover told me they don't do recons. That could be just what that particular rep told me, and I've read conflicting stories - some say they did do a recon others were told what I was. Guess it doesn't hurt to ask but since it's been 5 months there is no way in hell I see anyway the OP won't have to re-apply.


I would try Discover first. I would not try the same card with Cap One if you have not built credit history since the decline and I'm guessing you haven't.

ajcarter
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Location: New York

Postby ajcarter » Sat Jan 18, 2014 7:53 pm

Thank You so much!

I will call them on Monday morning, and see what they say. Maybe I should have done that earlier (maybe september).

ajcarter
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Location: New York

Postby ajcarter » Sat Jan 18, 2014 7:56 pm

MemberSince99 wrote:Discover told me they don't do recons. That could be just what that particular rep told me, ... I would try Discover first. I would not try the same card with Cap One if you have not built credit history since the decline and I'm guessing you haven't.


Thank You! I'll call and find out about the recon issue on Monday.

Also, CapOne has a secured Card, is that something I should try? I already got rejected by CapOne once already, so I don't want to put myself at a disadvantage.

One more thing - I was think maybe if I open a savings account with CapOne that would help, or no?



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