It is hard to get approved from a credit card

United States
September 14, 2011 7:17pm CST
Although the financial institutions constantly send out those credit card application, it won't be that easy to get approved even you tried to apply for it. My father is a perfect example, he needs to apply for a credit card, so the satellite TV service would grant him the service. I help him get on bankrate.com and apply for several credit cards, such as citi card, capital one, and others, his application all got rejected. The only reason is that he never had a credit card before, and he never had a revolving credit history before. So, that is one of the biggest obstacle for him. After several attempt, I just have to use my credit card to apply for him.
4 responses
hardworkinggurl
@hardworkinggurl (37062)
• United States
15 Sep 11
I think with the way the economy is right now, it is a bit more difficult then it usually is. With no revolving credit most credit card companies will reject him. He could not use a debit card? Maybe down the line if does not have one then perhaps he can get one and then switch the financial responsibility of the satellite service to him, this way he starts building a revolving history. It was nice of you though to help him out and I am sure he appreciates it.
Stephannie
@stephcjh (38473)
• United States
15 Sep 11
I agree. The economy is in horrible shape right now and that has alot to do with everything financially.
bounce58
@bounce58 (17380)
• Canada
15 Oct 11
When I started to open up credit cards more than 10 years ago, I also had a hard time because I also didn't have a credit history. I was told that there were two ways to do it. I could go by strore-credit card route, which had an exrtraordinary high interest rate. Or I could deposit a certain amount of money in a bank which would be equivalent to my credit limit. I chose the latter.
Stephannie
@stephcjh (38473)
• United States
15 Sep 11
Very true. We used to not have any problems getting a card. It is very hard these days though. It is especially hard to get a good interest rate with no annual fees too.
frontvisions101
@frontvisions101 (16043)
• Philippines
8 Oct 11
I guess this is good news for me since I might spend all the way til my limit. I don't know what my tendencies are if I'm holding a card and I'm in a music store, a gaming store, or something. I'll keep myself away from these things since I'm pretty sure this'll only ruin my financial stability.