Finding Credit Cards Blog

I applied for credit card and they are sending it. But I heard it was a horrible bank to go through with bad customer service and holding payments so they will be late and charge late fees. I don’t really want this headache so was wondering if by not activating it will make me not obligated to the agreement.

Cancel the card if the company truly makes you nervous. Not activating the card just prevents you from using the card, it’s still an open account. If you don’t activate the card, then they cannot hold payments and charge you late fees because you cannot use the card if you don’t activate. However, if they start programs that charge monthly fees, you’ll be responsible for those fees. In addition, if they charge an annual fee or if they begin charging an annual fee, you’ll still be responsible.

Every time I try to apply for a credit card I always get denied because I don’t have a credit history. Well, how I am supposed to have a credit history if I never had a credit card before? I already have a debit card that I use all the time and I always choose credit, but I guess it’s not good enough. What do I have to do in order to get my first credit card guys? Thanks.

First, you stop applying, immediately. You do have a history now: a history of excessive applying, which will keep you from getting a credit card for at least a year.

Second, after you stop applying, you get a "secured" credit card, which is the only type of credit card currently available as a first-time credit card.

Do not, under any circumstances, apply for any credit card that is not "secured" until you have gotten a good credit history by having a secured credit card and going more than a year without applying for any credit cards.

The way you get your first credit card is to get a secured credit card, without applying for any others.

Due to my zero credit score and i have difficultly in getting one credit card. I have applied from some of the banks available but their said that they couldn’t approved any of my application because their is some error but no further information was given after that.

is there anybody out there facing the same problem and know manage to solve it? Please help.

Orchard has high fees, but is certainly an option. Another option is going to where you bank (optimally, a credit union!!) & talking with a finance manager about getting a secured credit card. Make SURE it is one that can become unsecured at a future point in time & can grow with you.

Now, I have never had a card. And when I applied I was denied, because there’s nothing there. I don’t have a score or credit history. And I heard when you apply for a card it lowers your score. What if you have no score? Do you go negative?

Josh is correct about your credit score - but I am assuming you are wanting to build credit and get a credit card - Capital One will approve almost everyone. Apply for a Capital One Student card first. Use it to make small purchases each month - stay under the credit limit and pay it off each month. After three months apply for a Discover Student Card.

If we apply through pre-approved credit card offer,would it affect our credit score lesser than if we apply for credit card on our own?

NO ONE has EVER been pre-approved for a credit card. A pre-qualified offer means ONLY that your name and address were on a list the card issuer bought. The actual processing of your application is IDENTICAL either way.

How often can you apply for a credit card if a rejection letter states that you have had "Too many recent requests for credit or reviews of your credit"?

I recently got auto financing, plus a secured credit card just for the purpose of establishing credit so that I can get a regular credit card. Should I wait a month before applying again? Will it hurt me if I re-apply too soon?

As often as you want. I normally apply 5 or 6 times a day. But than again my therapist says I have self esteem issues and find comfort in rejection.

I heard Sears is a good source, but they have 4 different cards, so I was confused. I also heard gas cards are good, but I need to apply for only one credit card.

Any credit card is good if it’s from a reputable company like Capital One or Chase Bank, BUT, I warn you, never, ever, ever, max out your card and pay only the minimum balance if you don’t want the bank to hike up your interest rate to 28% or 29% or even higher. What happens is this…you get an enticing offer of 7% fixed rate from one of the above reputable companies. You get a credit limit of say, $1500. You spend $1400 on your card and make payments over the minimum amount due for say, a year or two. Then, something happens…your car needs repair and you can only afford to pay only the minimum payments for a year. In every single solitary credit card contract, they reserve the right to increase your "guaranteed fix rate" at any time. If you don’t pay over the minimum amount for a specific amount of time, I can almost guarantee you they’ll try to increase your rate on you, which then leaves you having to cancel your card to freeze the rate, which affects your credit rating. Best advise? Stay away from credit cards period.

I do not know what kind of credit card to apply for me to have a 3% off every time I shop at target online or in store. Can I apply online? Pls. help… Thanks

Someone already mentioned the two possible 2% reward cards for spending at Target. However, I think the details were not quite complete; I’ll explain. Also, there are ways to earn as much as 8.3% cash back at Target online. Here are the details:

1. The Schwab Visa will pay you 2% cash back, but, to get the cash, you have to deposit the money to a Schwab account.

2. The Fidelity American Express will also pay you 2% cash back, but, they will cut you a check. You do not have to have a Fidelity account to get the cash.

3. (This option is only good for *online* Target purchases.) If you use a Discover card and surf to Target.com via the ShopDiscover shopping portal, then you’ll earn 5% cash back in ShopDiscover rewards plus approximately 1% cash back as your normal Discover More card (for example) cash back.

4. Perhaps the best option, if you’ll be shopping primarily online at Target.com, is to make your purchases through the BigCrumbs.com shopping portal (i.e. just surf to Target.com through BigCrumbs.com). Then you’ll earn 6.3% cash back on your Target purchases from BigCrumbs. (Note that it’s 2.7% on TV and Video, Audio, Camera, Video games, but 6.3% on everything else.) Plus, you’ll earn whatever cashback you get from your credit card. So, for example, if you use the Fidelity American Express, you’ll earn 2% cash back from your card, plus 6.3% cash back from BigCrumbs, for a total of 8.3% cash back.

I have a credit card with a high interest rate and would like to transfer my balance to a credit card with a lower interest rate so that I can pay off more principal and a little more quickly towards being debt free. I understand that applying too often for credit cards can damage my score. If I’m not approved for a credit card from one institution, how long should I wait before applying for a card from another institution?

You should apply for them quite close together. Those inquires will be on your report for one year, however it takes 30 days for them to show up for the first time.

I want to apply for the credit card that fits my need? What is the best web site to compare different credit card offers and apply online?

The best web site to apply for a credit card is this web site call CreditCardXPO.com. They have a wide range of credit card offers that you can choose from. Whether you have good credit or bad credit, you can find the credit card that fits your need there. You can submit your credit card application right from the site and may receive credit decision instantly if you have good credit.