My credit card application at Walmart

Posted by admin on September 4th, 2008 at 12:00am

Question:
I applied for Target, JCP, Sears, Wal-Mart, Macys and Sears they refused my credit card application because I have No Credit record?! I think, No credit is much better than Bad credit!!!!What can I do in this situation? I must build up my credit record.Please give me some advises.

Answer:
Do you have stable employment and a checking (and expectantly also a savings) account(s)? If so, do you have your paychecks mechanically deposited?If not, begin there — previously you have those in place and the bank notices that you have earnings deposited frequently, I propose you notice if your bank gives a VISA or MasterCard. If not, do they give an ATM card that is as well a VISA/MC? It will be a debit rather than credit card, but with a little persistence it will help you build a credit record. I completely understand that with no credit card, it is actually difficult to do vital things, i.e., rent an auto, etc. An ATM/debit card can get you though for now.And !
some spontaneous advice. I was lucky enough to have part time job in a family company as a child and I constantly had cash, therefore I applied for and expected store credit cards when I was still a teenager. Unluckily, I found it was a bit too easy to “save money” when there was a deal. Unluckily, the interest rates charged by the credit card companies collective with the smallest payments can have the result that the whole thing you purchase with the credit card, ends up estimating you double or triple by the time you pay it off. Let me tell you it took a extensive time to get to the point where debt was paid off, and one time you there (where, paradoxically, you are today!) you want to be in that situation again not at all.A

Under Bad Credit Rating