Will I get approved for a credit card?
I’ve never had a credit card so i don’t have any credit history. I applied for both Sears credit cards and did not get approved. Also, I’ve had plenty of overdraft charges so will that play a role in this? What can I do to get a credit card? I want to build up my credit.
Well first of all.. do you have income? Because lenders like to see that their clients have income before they give them a line of credit. If so the answer is eventually someone will approve you. Otherwise talk to your bank about a secured credit card. It you handle it properly your credit history can improve fast making it easier to get a credit card.
When you go to apply for a card, try to look for one were the financier is HSBC, its based in nevada. There pretty liberal with dishing out credit. Your best luck would perhaps be a store card, such as best buy. Or you would have to come up with $500 and get a secured credit card, the security is your money, if you do not have the money you can not use the card. It’s a way to build credit, still try every 3 months to get a different card though. Good Luck!
Try premier mastercard - I applied with them a month out of a bankruptcy and it helped to rebuild my credit fast. I’m closing on my 2nd real estate purchase tomorrow and my BK discharged 3 years ago.
The balance may be low and the interest rate is high, but this will at least establish a credit history. What I did was charge $25-30 every now and then and then make monthly payments to show regular on time payments.
Not sure if the overdraft charges do impact your approval; I’ve never seen banking information (except a mortgage or bank credit card) on my credit application.
Good luck!
don’t apply for to many cards at once, this can hurt your score and make harder to get a card.. Try Orchard bank or chase