DREAM Act Portal Forum - Need Help: Credit Card (rejected from Captial One etc)

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Re: Need Help: Credit Card (rejected from Captial One etc)

Quote:

Originally Posted by brz09tls (Post 488042)

Couple of things on this as i went through the same thing:

- The letter they send you states a reason why they could not approve you. If the reason was that your SSN "was not valid" (my case), you CAN call them up and send a copy of your SSN to them. I got rejected at first but then approved after i sent them a copy.

- If you want to check your credit on creditkarm per example, you will have to wait a couple of months after you get your SSN. It just takes a bit of time before they recognize your SSN and starts tracking your credit.

- Don't go applying to 5 different credit cards as all that will impact your credit history. Like somebody else said, if your parents have a CC already, just apply to be a "dependent". You will most likely get approved.

- Obviously, having a job will impact the decision on whether you get approved or not. If you don't have a job, a secured credit card is your best bet to start your credit.

Thanks for the information!

My sister was denied by Capital One and I believe it is because they could not verify her information. We're waiting on the letter in the mail to be 100% sure. I called to check my application status and I was approved, but was told they needed me to fax a copy of my SSN and DL to verify my identity.

Neither of us have a credit history, so I think it was just random that she was denied and I happened to be approved.

Quote:

Originally Posted by awaken (Post 488374)

Thanks for the advises. But I know how to take care of CC. Like I said I'm not doing it for the money but to build credit. "Desperate" just wasn't the word here.

Anyways Thanks for the concerns and advises.

Thanks guys I will refer back to these postings once I get the letter and have stuffs sorted out.

Thanks a lot!

How did it turn out?

Re: Need Help: Credit Card (rejected from Captial One etc)

Yeah I applied for capital one secured card and got denied but I replied like a week later and got accepted. The reason was because I put that I earned little income and then I lied the second time and got approved. After having the card for 6 months I get a regular card offer from capital one that I been pre-approved. I applied by phone and was approved instantly for a $500 credit limit and now I am waiting for the card in the mail.

Re: Need Help: Credit Card (rejected from Captial One etc)

Building credit is important to get mortgages etc. The longer your track record is with solid history, the better you are off later in the future. Like driving it's all about being responsible

Re: Need Help: Credit Card (rejected from Captial One etc)

Quote:

Originally Posted by kabs (Post 503304)

Building credit is important to get mortgages etc. The longer your track record is with solid history, the better you are off later in the future. Like driving it's all about being responsible

Precisely this is what I told my mom because she was hesitant about me starting credit because she thought I was just going to get into debt that I won't be able to pay.

Re: Need Help: Credit Card (rejected from Captial One etc)

Quote:

Originally Posted by compedude29 (Post 503309)

Precisely this is what I told my mom because she was hesitant about me starting credit because she thought I was just going to get into debt that I won't be able to pay.

Completely agree. We have to start thinking long term. I know friends who have long credit histories because their parents put then down as an authorized user and were responsible with payments. Now they have 750 -800 credit scores and can get favorable interest rates on things like car loans and mortgages. Good credit SAVES money, no credit does nothing for you.

As long as you make sure to keep your utilization under 30% and always be on time with your payments, credit is incredibly valuable especially since we are not eligible for federal loans and may need to get private loans if we can't work while going to school.

Re: Need Help: Credit Card (rejected from Captial One etc)

Quote:

Originally Posted by compedude29 (Post 503309)

Precisely this is what I told my mom because she was hesitant about me starting credit because she thought I was just going to get into debt that I won't be able to pay.

My mom's more worried about identify theft. Regularly check your online account to make sure all the transactions were initiated by you. I had 2 incidents where I had unauthorized charges on my account. In my case it wasn't that big of a deal since the person who stole my credit card number used it for an online purchase.

Re: Need Help: Credit Card (rejected from Captial One etc)

Quote:

Originally Posted by kmpxx (Post 503314)

Damn that sucks getting your info stolen. Since I gotten my card I been on the look out for discrepancies on my record. I don't want to get my identity stolen now that I have one. lol What did you do to make sure this doesn't happen to you again?

Re: Need Help: Credit Card (rejected from Captial One etc)

Quote:

Originally Posted by compedude29 (Post 503364)

The bank issued me a new card number, and I have a faint idea who it might have been. This happened the same week I was doing my road practice with a driving school. The instructor would call someone on his cell and read off my card number to the person on the other line. He also wrote my credit card number on the receipt he gave me which he kept a copy of. I wouldn't be surprised if it was either of the two or someone who found his receipt laying around somewhere. I'll never know though since the bank took care of it and only told me that my dispute has been successful.

Re: Need Help: Credit Card (rejected from Captial One etc)

Quote:

Originally Posted by kmpxx (Post 503365)

Must have been one of the 2 and at least that problem was resolved. Yeah be more careful with your personal info you wouldn't want to get your identity stolen. It would be ironic though if a Dreamer gets his identity stolen since they went all their life without one and now they have one and bam it's stolen.

Re: Need Help: Credit Card (rejected from Captial One etc)

I applied for capital one card for new comers about 2 weeks ago. Just got a mail this week saying that my home address did not match with one or more consumer credit reports. It was just making sure that it wasn't identity theft. i was confused and tried calling all three companies (Equifax, Experian, and Trans Union) but got nothing. It wasn't a letter of rejection or anything. It says that a decision would be made soon.

Last week, about 2 days after applying to capital one, I went to the nearest Bank of America and I was approved for a $500 limit Cash Rewards Credit Card. Today I received a mail saying that my request for a credit card has been accepted and my credit score is : 660 (According to Experian)
But I did not get the actual card yet. Soon..