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credit card

hi!! I have ok credit, but alot,,,,,,,,,,,I am being denied for every card I apply for. Are there any out there ,,,,w. no sign up fee that I can apply for and receive without a "no" answer. I want it for emergencies and to tranfer some balances. Thanks guys!!!

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cameron536

Asked by cameron536 at 8:17 AM on Aug. 6, 2010 in Money & Work

Level 4 (28 Credits)
Answers (8)
  • www.creditcards.com
    You can compare them side by side
    Nyx7

    Answer by Nyx7 at 8:24 AM on Aug. 6, 2010

  • Do you have any store credit cards? I've heard that helps when trying to apply for a real one.
    MomtoElliett

    Answer by MomtoElliett at 8:25 AM on Aug. 6, 2010

  • Due to the poor economy, banks (who issue the credit cards) are not approving credit like they once were. The only way to get credit or credit cards these days is to lower your debt to income ratio!!

    You need to cut up all but ONE major credit card (and ESPECIALLY retail store cards!), pay off the balances on the cards you cut up, and call the issuers of said cards and request that they CLOSE your account with them. Even if you have zero balances, the fact that you even have a credit line is factored into your income to debt ratio--so it's important to close them!!

    If you're having a tough time paying off your existing debt, and want to pay down your debt, you might consider going to your bank and taking out a small personal loan--so you're only making one monthly payment and are able to pay down the principal on your debt, and not just the interest! You may need someone with an excellent credit rating to co-sign.
    LoriKeet

    Answer by LoriKeet at 8:27 AM on Aug. 6, 2010

  • Once you get your credit under control, I recommend applying for an American Express Card. There is no interest rate or credit limit, BUT you have to pay off the entire balance each month, or your card is temporarily frozen until you do!! This is a good thing as it keeps you from racking up debt, and keeps you mindful of your available cash flow, budget, and means!!

    This is the ONLY credit card I have had since 1988!! If a store doesn't accept Amex, then I use my checking account Visa Check Card.
    LoriKeet

    Answer by LoriKeet at 8:32 AM on Aug. 6, 2010

  • LoriKeet is right. Also note, every time you applied for a card and were denied it is noted on your credit report. Every time your credit has been looked at, has been noted on your credit report. I suggest you get a copy of that credit report and see what it says, also pay the few bucks and get your credit score. Today, banks are not handing out money to everybody anymore and they have tightened their requirements! Good luck to you...
    WoodWitch

    Answer by WoodWitch at 8:40 AM on Aug. 6, 2010

  • Get a copy of your credit report. Freecreditreport.com has a great explanation of everything contained on your credit report, and even suggestions on how to improve your score. As Lorikeet said, the banks aren't giving out the cards like they used to, and the credit line is typically smaller when they do. Your score really needs to be above 650, even higher if you don't own a home. Your bank likely issues a credit card, that may be a good place to start. I like American Express, but I pay like $175 a year for my card.
    Scuba

    Answer by Scuba at 9:46 AM on Aug. 6, 2010

  • I don't know what type American Express Card you have, but that is NOT how ours is! It has a interest rate and a credit limit, just like any other credit card out there!
    SAHMinIL2

    Answer by SAHMinIL2 at 9:58 AM on Aug. 6, 2010

  • When you close accounts, it will adversely affect your credit score. You are better off to pay them down & leave the accounts open. When you apply for too many credit cards you also lower your credit score. You can get a free credit report from each bureau at annualcreditreport.com no credit card needed. Quizzle.com will also give you a free report & credit score every 6 months.


     

    motherofhope98

    Answer by motherofhope98 at 1:48 PM on Aug. 6, 2010

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