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First time unsecured credit card?
I turned 18 yesterday. In hopes of building my credit, I decided to apply for a capital one classic platinum credit card, in which my application was promptly rejected. I am confused because I was recommended that card for a starter card and I have no bad marks on my credit (or lack thereof).
What are some unsecured credit cards that accept applicants with no credit history?
2 Answers
- ?Lv 71 decade agoFavorite Answer
Don't confuse a mass mailing with a personal invitation and guaranteed approval.
Yes, secured credit card at a bank or credit union. Note, the more you put on long term deposit with them (as security) the higher the credit limit on the card. BUT remember, you have to pay the bill every month. Payments DO NOT come out of this security deposit (unless you default and they cancel you card - meaning you have a huge black mark on your credit, so be smart.)
- Genuine GuidanceLv 71 decade ago
Since you are under 21, you are going to find it near impossible to get an unsecured credit card unless you can prove your income or have a cosigner.
Capital One is one of the more lenient companies as is Orchard Bank. If you cannot get approved by these 2, you are out of luck.
Only thing you can do at that point, is go to your bank or credit union with $300 and open a secured credit card account.
