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!

Question

Posted in Credit Cards
Profile Image

Question By
wavemaker

2 Contributions
4 People Helped
Turned down for recommended credit card because I "have too few credit cards"
I have managed to rebuild my credit to about 660 after having to file bankruptcy 5 yr ago. Was recently trying to finance a car and was told I have a 0 score (even though CreditKarma showed 661 before I started car shopping). Finally got financing thru my bank but banker advised that lenders are looking for 3 open credit lines. Finally decided to apply for Barclay card that CreditKarma keeps pushing. They rejected me partly because I have no credit cards! How do you get 3 open lines of credit if you have to have a card to open an account? Isn't that a lot like trying to get a job and they require experience but you can't get experience because you can't get a job? I've gotten along just fine for almost 10 years with cash and a debit card, but the fact that I am (or was) totally debt-free was a major hindrance when I wanted to finance a new car. There is something seriously wrong with this system when people are penalized for being debt-free. As far as I'm concerned they can keep their credit card that I didn't want in the 1st place. I'll just keep making do with cash and trade this vehicle just before I make the final payment. I had a good down payment so I won't have to worry about being upside down in it when I upgrade.

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
1884 Contributions
3675 People Helped
Most Helpful Response

been there done that

Helpful to 1 out of 2 people

i went through a simular situation.  was debt free and living the cash lifestyle.  But reality is that Credit is a big part of the finacial world and if you want to make big purchases with out laying out a lot of cash you need a credit score.  I rebuilt mine and got the credit i needed with a couple of cards from the primary bank that i do most of my business with.  first card i got had a $1000 limit.  5 months later I  got one with a $3500 limit.  a year later I got one with a $12000. limit.  All i did was go into the bank and talk to New accounts guy and Viola!   my score is now over 800 and i receive credit card and loan offers in the mail all day long! 

Reply by
wavemaker

2 Contributions
4 People Helped

Thanks for the tips.  Last time I checked my bank doesn't offer anything but a pre-paid card.  But that's been a few years ago.  I'll have to check into that.  If not my primary bank, the other one I deal with may be able to help.

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.