#1
I recently got accepted into a universty, so with my newfound need of a laptop and my newfound obsession with Apple, I decided I wanted a MacBook. I went on to apple.com and saw that they had student discounts, perfect! After the discount, the one I wanted was $1,199 or $29 dollars a month. I thought, hey I could use that cash for a new guitar, and $29 dollars is nothing, so I applied for financing and a credit card.

But... no more than 30 seconds later... REJECTED!!!

I don't understand, I don't have bad credit, I've never had a credit card or loan, I've paid all my bills on time, always had money in my bank account, hell I don't even owe money to video rentals or the library. After I pay my bills I have about 500 dollars every month, so I could save for one, but I'd still like to know if there's any legitamite reasons.

I'm 19 if that has anything to do with it.
#2
well seeing as youve never had a credit card, u dont HAVE any credit, and to some places thats just as bad as having bad credit
#3
Half way through reading this thread the word moulder into blah blah blah blah blah blah. then I continued reading and realised there was no point in the original post.
In/Rainbows
#4
Just apply for a different card. In the UK, they practically beg you to have one.
There is poetry in despair.
#5
Do you have a job? Some Credit card companys only want to accept people with jobs. Also the credit card companies have been getting in trouble for giving to many credit cards to college kids so some cut back on it
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#6
Quote by Gigatiran
I recently got accepted into a universty, so with my newfound need of a laptop and my newfound obsession with Apple, I decided I wanted a MacBook. I went on to apple.com and saw that they had student discounts, perfect! After the discount, the one I wanted was $1,199 or $29 dollars a month. I thought, hey I could use that cash for a new guitar, and $29 dollars is nothing, so I applied for financing and a credit card.

But... no more than 30 seconds later... REJECTED!!!

I don't understand, I don't have bad credit, I've never had a credit card or loan, I've paid all my bills on time, always had money in my bank account, hell I don't even owe money to video rentals or the library. After I pay my bills I have about 500 dollars every month, so I could save for one, but I'd still like to know if there's any legitamite reasons.

I'm 19 if that has anything to do with it.

Your credit probably just isn't established yet. It's probably for the best, anyway. Credit cards can and will destroy your life by jacking up interest rates, sometimes without notice.
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#7
Quote by Gigatiran
I don't understand, I don't have bad credit, I've never had a credit card or loan

There's your problem. Despite not having bad credit, you have no credit.

You should get a major credit card (Visa, for example) with a low limit and pay off the entire balance every month. More than likely, whatever bank you've been going to has a basic starter card.

Quote by BigFatSandwich
Your credit probably just isn't established yet. It's probably for the best, anyway. Credit cards can and will destroy your life by jacking up interest rates, sometimes without notice.

It is true that debt can have a huge negative effect on your life. However, having no credit established is not for the best.

What happens when you need to borrow money to buy a house, and you have no credit history? You're SOL.

-SD
Last edited by SilentDeftone at Mar 16, 2008,
#8
Quote by SilentDeftone
There's your problem. Despite not having bad credit, you have no credit.

You should get a credit card and pay off the entire balance every month.

-SD

Or get a credit card with about a $500 limit, put $250 on it and pay off a little bit more than your minimum payment every month ON TIME.
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#9
I do have a job and like I said I make enough extra money to pay for it. I guess there really isn't a point to this thread, I just though it was really easy to get a credit card. I thought that was how people got into so much debt.
#10
Quote by BigFatSandwich
Or get a credit card with about a $500 limit, put $250 on it and pay off a little bit more than your minimum payment every month ON TIME.

That is stupid. You'll end up paying a crapload of interest that you don't need to be paying.

You should pay the entire balance on time every month. If you can't afford the entire balance, you're spending too much.

-SD
#11
Get a prepaid credit card if all you need is a number....that way there's no interest because you're not "borrowing" money.
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#13
I have a debit card, it just seems stupid that I have to have credit to get credit.
#14
You should go to a bank, sit down and apply. Are your parents around? For your first card it helps if your parents will like sign off on it too so then you get the card which you pay for and the company doesn't worry about your lack of credit since if you screw up your parents have to pay.
Quote by RHCP94
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#15
I do have a job and like I said I make enough extra money to pay for it. I guess there really isn't a point to this thread, I just though it was really easy to get a credit card. I thought that was how people got into so much debt.


dude im kind had the same situation happen to me i wanted a 42 inch lcd tv and i wanted to make credit by using a credit card and paying for the tv but it got rejected

the thing there is a certain credit limit my first credit card limit was 250 then i got another one up to 500 dollars and if i pay 3 months on time it will go up to 750 so for you to get 1000 credit or more was not very likely

the problem is you don't have credit and you have to develop it is very important if you want to buy a car so if you finance it you dont pay big % interest rate also if you want to buy a house in the future

make sure to pay on time so you dont have bills piling up and paying more that you need try to use the card if you know you can pay full is one of the best wyas to stay out of debt
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#16
Quote by Mutant Corn
Get a prepaid credit card if all you need is a number....that way there's no interest because you're not "borrowing" money.

where in the hell is he gonna find a prepaid credit card that has enough on it to buy a macbook?
#17
Quote by SilentDeftone
That is stupid. You'll end up paying a crapload of interest that you don't need to be paying.

You should pay the entire balance on time every month. If you can't afford the entire balance, you're spending too much.

-SD

You're stupid. That's not building credit. Lenders need to know that they can make money off you. Paying off the entire balance means no interest for them. When your credit is finally good enough so that you can get a huge loan (or card) then yes, paying it off as soon as possible would be the best idea.

I've been through enough credit issues to know.
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#18
No credit is far worse than bad credit when you need to borrow money. Also, those "only $29 a month" things companies offer, are very hard to be accepted for. I would suggest you get a credit card, use it for most of what you CAN afford, then pay it off every month. That way you build credit, and make sure you don't just buy things you can't already afford. If you have the cash to pay for it, buy it with your card, then pay it off.
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#19
it is fairly easy to get a credit card, but you are trying to get a fairly high limit one with no credit, which is damn near impossible. You could probably get a $500 limit one no problem.
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#20
Quote by nt1440
where in the hell is he gonna find a prepaid credit card that has enough on it to buy a macbook?


Not that much at once, no...but it's a monthly payment remember?


And no it's not a Debit, it's like a gift card. I've used them before to get stuff on ebay.
Nope, no sig here.
#21
Quote by Kid_Thorazine
it is fairly easy to get a credit card, but you are trying to get a fairly high limit one with no credit, which is damn near impossible. You could probably get a $500 limit one no problem.


Well that's stupid, they should trust me, I'm a nice guy.
Maybe if I bake them cookies...?
#22
Quote by Gigatiran
Well that's stupid, they should trust me, I'm a nice guy.
Maybe if I bake them cookies...?

haha I actually laughed out loud at that
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#23
Quote by Mutant Corn
Not all at once...but it's a monthly payment remember?


And no it's not a Debit, it's like a gift card. I've used them before to get stuff on ebay.

yes i know what they are, but ive only seen those go up to $100. do u really expect to see this guy go buy enought of those to pay the monthly payment?
#24
Quote by E Daws
You should go to a bank, sit down and apply. Are your parents around? For your first card it helps if your parents will like sign off on it too so then you get the card which you pay for and the company doesn't worry about your lack of credit since if you screw up your parents have to pay.

I don't know about you, but I would not do this.

Believe it or not, parents are not infallible money-making machines. Many people - including parents - have bad financial habits. If they screw up, your credit score can go down the toilet as well.

Be responsible and you shouldn't have problems on your own.

-SD
#25
Quote by nt1440
yes i know what they are, but ive only seen those go up to $100. do u really expect to see this guy go buy enought of those to pay the monthly payment?


you can put as much money on those as you want if you order them from a CC company.
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#26
Quote by Kid_Thorazine
you can put as much money on those as you want if you order them from a CC company.

oooh , the only ones ive seen are the nonrefillable ones u pick up at stop n shop lol
#27
Quote by BigFatSandwich
haha I actually laughed out loud at that


Just makes me wonder how my girlfriend can take out a $20,000 dollar loan to go to school, then a $3,500 loan to go on a 10 day trip to Italy with spending money.

Life's just not fair.
#28
Quote by BigFatSandwich
You're stupid. That's not building credit. Lenders need to know that they can make money off you. Paying off the entire balance means no interest for them. When your credit is finally good enough so that you can get a huge loan (or card) then yes, paying it off as soon as possible would be the best idea.

I've been through enough credit issues to know.

Paying the balance in full does build credit. I don't know where you're getting these ridiculous ideas about finance, but some of them are plainly false.

Having credit issues doesn't make you an expert. If anything, it shows that you don't know enough about the system to use it to your advantage.

OP, to be honest, I would not finance a MacBook. Pay for it outright if you can, or (if you obtain a card with a high enough limit) charge it and pay the entire balance immediately.

-SD
#29
Quote by nt1440
oooh , the only ones ive seen are the nonrefillable ones u pick up at stop n shop lol


ahh yeah, actually I think wal-mart sells some that you can put as much on as you want too.

Quote by Gigatiran
Just makes me wonder how my girlfriend can take out a $20,000 dollar loan to go to school, then a $3,500 loan to go on a 10 day trip to Italy with spending money.

Life's just not fair.


they;re a lot more lenient with student loans than they are with credit cards. And don't feel too bad your GF is probably going to be paying that shit off untill she is in her mid 30s.
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Last edited by Kid_Thorazine at Mar 16, 2008,
#30
Just makes me wonder how my girlfriend can take out a $20,000 dollar loan to go to school, then a $3,500 loan to go on a 10 day trip to Italy with spending money.

Life's just not fair.


is stupid to get loans she's going to pay for all that later on and with interest so that nice 3500 vacation will not cost her 3500 but more with the interest if she waited she could saved fot that vacation but for being impatient she is going to pay more
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Dunlop SW-95 Slash Wah Pedal
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Metal muff
Fender American Deluxe Stratocaster Ash
#31
Quote by Kid_Thorazine
ahh yeah, actually I think wal-mart sells some that you can put as much on as you want too.


they;re a lot more lenient with student loans than they are with credit cards. And don't feel too bad your GF is probably going to be paying that shit off untill she is in her mid 30s.

actually student loans rates are going crazy right now, a few years ago they were at 4% now the BEST we can find here is 6.5%ish but the norm is around 8%

paying for college is going to suck
#32
actually student loans rates are going crazy right now, a few years ago they were at 4% now the BEST we can find here is 6.5%ish but the norm is around 8%

paying for college is going to suck


that's why you try to get scholarships and apply for financial aid if possible and try to go to college first before going to university
my guitar stuff:
ESP JH-600
ValveKing 112
DigiTech Whammy Pedal
Taylor 314CE
Dunlop SW-95 Slash Wah Pedal
Cordoba C7 Nylon String Acoustic Guitar
Metal muff
Fender American Deluxe Stratocaster Ash
#33
Quote by nt1440
actually student loans rates are going crazy right now, a few years ago they were at 4% now the BEST we can find here is 6.5%ish but the norm is around 8%

Better than the 20% on a credit card.

-SD
#34
Quote by stefan1988
that's why you try to get scholarships and apply for financial aid if possible and try to go to college first before going to university

see, (coming from a kid whos watching his parents trying to pay for just ONE year of his sisters college) the problem with financial aid is (not officially but pretty much) if you make enough to make ends meet, they really wont help you that much at all, u have to be literally broke for them to give any real support

im in a family of 5, my sister is at college, our house is far from paid of (even tho my father is AMAZING with money matters), and from what i can gather we make around 45k-50k a year, now having to pay for all that, FAFSA believes we can afford to pay 17k of my sisters tuition out of pocket
#35
Quote by SilentDeftone
Better than the 20% on a credit card.

-SD

i can see that your very well informed on money matters, but unless thats a suddenly jacked up rate (which they do without letting you know) thats an OUTRAGOUS rate, i dont think ive ever seen that
#36

see, (coming from a kid whos watching his parents trying to pay for just ONE year of his sisters college) the problem with financial aid is (not officially but pretty much) if you make enough to make ends meet, they really wont help you that much at all, u have to be literally broke for them to give any real support

im in a family of 5, my sister is at college, our house is far from paid of (even tho my father is AMAZING with money matters), and from what i can gather we make around 45k-50k a year, now having to pay for all that, FAFSA believes we can afford to pay 17k of my sisters tuition out of pocket


that sucks dude
my guitar stuff:
ESP JH-600
ValveKing 112
DigiTech Whammy Pedal
Taylor 314CE
Dunlop SW-95 Slash Wah Pedal
Cordoba C7 Nylon String Acoustic Guitar
Metal muff
Fender American Deluxe Stratocaster Ash
#37
Quote by nt1440
i can see that your very well informed on money matters, but unless thats a suddenly jacked up rate (which they do without letting you know) thats an OUTRAGOUS rate, i dont think ive ever seen that

https://www.nationalcity.com/personal-banking/products-services/everyday-banking/credit-cards/national-city-visa/pages/disclosures.asp

I just referenced my local bank. To be honest, I don't remember what my rate is… it's somewhere around 17-18%, I think. Honestly, it doesn't matter to me much since I always pay my balance in full whenever I use it.

-SD
#38
Quote by SilentDeftone
https://www.nationalcity.com/personal-banking/products-services/everyday-banking/credit-cards/national-city-visa/pages/disclosures.asp

I just referenced my local bank. To be honest, I don't remember what my rate is… it's somewhere around 17-18%, I think. Honestly, it doesn't matter to me much since I always pay my balance in full whenever I use it.

-SD

good for you man, i like seeing some actual down to earth people once in a while