Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Posted in Credit Cards
My Credit score is a 675 and I have applied for 2 credit cards and can not get apporval . Why ?
I have recently gotten divorced and all the accounts where in his name and now I can not get a credit card to save my life can you help me understand why?
Profile Image

Question By
hobsie4

0 Contributions
0 People Helped
All Responses
Results 1-8 of 8Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Most Helpful Response
Helpful to 3 out of 3 people

FYI - following yanks27 is a recipe for financial disaster.

Here's a reality check.  You need credit.  Period.  You can't avoid having it.  Employers are screening credit reports, as are insurance agents, rental property managers, and some regular banks.  Ironically, having little-to-no credit is a red flag for these screeners because they feel as though they have no way to assess what kind of a risk you are to them.

Top Contributor

Response by
revelated

13 Contributions
38 People Helped
Helpful to 1 out of 1 people

Been there and I agree with nandog Orchard bank will let you open a secure card to rebuild your credit.

Problem with orchard bank is they DO NOT raise your limits or convert you to unsecure - EVER.

You can add more money by making a deposit to a savings account but that's about it.

Bank of america also offers secure cards which then convert to unsecure after you've proven worthy of it.

Good luck! 

Top Contributor

Response by
fixthisnow

15 Contributions
2 People Helped

make sure you have a bank account...i didnt get approved for 2 cards because of this reason..2 months later i opened a bank account and got approved for both credit cards i perviously applied for ..credit score and everything else on my report were the same

Response by
gingerbear63133

2 Contributions
2 People Helped

I had a 654 and applied for a chase freedom card and was instantly approved.  It was a credit card recommended to me by credit karma.  High interest rate, but I pay it off each month.  In addition to credit score, it also depends on your income and your past payment history, IMHO.  I hope this helps! 

Response by
faaque

2 Contributions
0 People Helped
Helpful to 1 out of 1 people

I applied for chase freedom with a 650+ score, "maybe 700",  and 3 days later or so they denied me, a month later I applied for an amex bluesky and got approved in 10 seconds and maybe 3 months later also got approved for a venture one in 10 seconds. My wife is the same story and near same credit score, denied the chase freedom but approved for amex. Also I have a mortgage and 60k year 100% payment history on all credit, no idea why they would deny me.

Not saying your your lying or anything but im not happy with my experience with chase.

Reply by
updog1

9 Contributions
14 People Helped

What is an unsecure card? That doesn't sound good...

Response by
CypticBlade07

1 Contribution
0 People Helped
Helpful to 1 out of 1 people

CypticBlade07 it's an "unsecured card". Not "unsecure card". Secured cards are ones that you pay money to get a credit card to build your credit. Think of it as a prepaid Visa gift card, but one that you can keep adding money too, AND it also helps to improve your credit. (keep in mind though, a reloadable Visa gift card isn't a unsecured card because it won't help improve your credit score)

It's good to start with becuase you can't use more than what you put in, so you don't run into problems of not being able to pay your card back. Also if you have NO credit history, but have money, it will get you a creditcard. Most credit companies are unwilling to give you credit if you don't have a history. This is a way to "buy" yourself a credit card. 

Most credit cards that people apply for are unsecured, as in there is none of your own money being used to get the credit. So the bank is basically loaning you your credit limit, you use their money to make purchases, and you pay them back at the end of the month. If you can't pay it back in full, that is where the intrest comes in, and it's the bank giving you slap on the wrist for not giving them back their money in time. 

Hope this explaination was helpful. . .

Reply by
silverlyblue

5 Contributions
7 People Helped

How did you find out you did not get approved? Did you receive a letter in the postal mail, or was the determination online? If you get a postal letter, it will say why you were denied. A credit score is not that useful in understanding why. Someone could have a higher credit score and still get denied cards.

Top Contributor

Response by
sunk818

13 Contributions
2 People Helped
Helpful to 0 out of 1 people

Orchard Bank.  If you can't get the unsecured card then get a secured card.  Good Luck.

Top Contributor

Response by
nandog

2675 Contributions
495 People Helped
Helpful to 0 out of 2 people

 Establishing a credit score is extremely overrated. The best credit card is the one you never have to use or pay interest interest on. Most people think the world is run by their credit score, and Its is a huge farce. The best way is to apply for all of them, even the ones with high interest rates. If you have a good financial plan, you will never pay interest on a credit card anyway. If you need to rob from Peter to pay Paul, then the interest rate matters. Make sure you have cash on hand to purchase items, and you mentality towards credit cards will change. Keep in mind that because of credit cards & debit cards, the consumer pays allot more for goods and services. All of the fees charged to who we purchase from is passed on to the consumer. Forget about applying for credit cards. Start saving money, so you can pay for things in cash. Cash ??? HMMM What a novel idea.

You will sleep better at night for the rest of your life.

Response by
yanks27

1 Contribution
0 People Helped
Results 1-8 of 8Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Reply to this Question

Write your response:

Enter Your Comments
Submit to the Community