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Thread: Credit Cards

  1. #1

    Default Credit Cards

    This things make no sense to me. The credit card companies say, You want a credit card? I say Yes. Then they come back with, you have no credit so we can't help you. How does that make any sense to anyone? This is complete broken logic. I'm thinking of moving again, but I need credit to an apartment. I find my hometown is a lost cause so I want to leave and start fresh somewhere better.

  2. #2
    PaddedPuppy

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    As responsible lenders, banks and credit card issuers need to run credit and affordability checks on you. If you check with the big Credit Reference Agencies like Experian and Equifax they will be able to give you a copy of your credit report, which shows your credit score, and your payment history. This is what the lenders will see about you too. So make sure you have a few long standing accounts on there that have always been up to date on payments. Mobile phone contracts are one of the best ways to get started, then move on to 'credit builder' credit cards.

    Something like a mortgage to finance a new home is something you won't easily get unless you have good credit history, stable employment history in a permanent position and such.

    Just be careful not to fall into the temptation. I spent years building up my credit record until everyone was practically throwing money at me. Then I ended up with 5 credit cards, car finance, a loan and 3 mobile phone contracts. All whilst I'm unemployed and on low income. I caved in, and now my credit file is in default, worse than when I first started and I am currently on a debt management plan, as well as having my record destroyed for AT LEAST 6 years.

  3. #3

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    Credit companies can't perform a credit check on you without your consent, so they initially offer you a card without checking all your details. Then you apply and consent to the check. They check and with the additional information decline you.

    Apparently a good way to build your "credit score" is to get a pre-paid card (where your "credit" is actually secured with a cash deposit). Don't keep applying for cards, or make multiple applications at the same time -- every application reduces your creditworthiness.

    There's lots of random stuff that might be of interest on The Search Engine:
    https://www.google.co.uk/search?q=ho...d+credit+score

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    Quote Originally Posted by PaddedPuppy View Post
    As responsible lenders, banks and credit card issuers need to run credit and affordability checks on you.
    Responsible lenders?! The banks?! You're kidding me, right? They pretty much caused a global recession due to reckless lending and gambling.

  4. #4

    Default



    Quote Originally Posted by DarkBabyMagicain View Post
    This things make no sense to me. The credit card companies say, You want a credit card? I say Yes. Then they come back with, you have no credit so we can't help you. How does that make any sense to anyone? This is complete broken logic. I'm thinking of moving again, but I need credit to an apartment. I find my hometown is a lost cause so I want to leave and start fresh somewhere better.
    word of wisdom from the others, but you have to remember that the usurers aren't there to help you, they're there to police you, to ensure your compliance with and obedience to the governmental system.
    the logic is that if you're not already beholden to them, they don't like you because they don't control you.

  5. #5

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    Quote Originally Posted by ade View Post
    word of wisdom from the others, but you have to remember that the usurers aren't there to help you, they're there to police you, to ensure your compliance with and obedience to the governmental system.
    the logic is that if you're not already beholden to them, they don't like you because they don't control you.
    There's no need for conspiracy theories.

    Banks offer credit cards because they make money off of them. Nothing more, nothing less.

  6. #6

    Default



    Quote Originally Posted by Fruitkitty View Post
    There's no need for conspiracy theories.
    no conspiracy theories here, just matters of fact (and well-known ones at that. where have you been?)



    Quote Originally Posted by Fruitkitty View Post
    Banks offer credit cards because they make money off of them. Nothing more, nothing less.
    quite a bit more, actually. you're omitting the bit about credit only for those who have a government issued proof of identity and all that having that entails and costs. and what the banks then do with the money they've 'made'.
    not forgetting that banks typically own the insurers to whom we're also indebted and who work with the police, and do the work of policing, and often we're legally compelled to have insurance which very much makes insurers agents of the state.
    and, of course, not forgetting how the government happily bails out both banks and insurers, but not those who've lost their homes, whilst their former homes stand empty.

  7. #7

    Default

    Go check on a credit score site (I recommend credit karma, the one on tv with the really bad commercials) once you get your score, they will recommend cards based on your score and you'll usually get approved for at least one of them. Keep in mind though, your score will drop a little every time you get denied

  8. #8

    Default

    There are credit cards available to those who do not have much of a credit history, you just have to go looking for them. The credit limit will be low and the APR brutally high, but as long as you charge only what you can afford and pay back the entire balance in full you should be fine. After a few years of building credit you would be able to apply for other credit cards with more success. To give my own example I first got a credit card in college, which was one of the secured credit cards. After 2 years I was approved for another credit card with far better terms (after being denied the first time).

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