Re: No Credit History - unsecured

Posted by St Marg (172.146.244.113) on June 21, 2003 at 16:23:54:

In Reply to: Re: No Credit History - annual fees posted by KathyD on June 21, 2003 at 16:07:37:

Well unsecured is great when you have credit! :)

I was listing those as options for secured cards. I have no idea if Chase Manhattan or Citizens bank will report as unsecured. (I would call to ask) Many of them do. I just called Chase but it says it open M-F 8-9pm. Citizens says they no longer offer secured.

It's very hard to get unsecured if you have nothing at all on your credit report.

So if you start applying for unsecured and get turned down - then you have some inquiries on your report which bring your credit score down.

I suppose applying for 1 wouldn't hurt - just to see if you'd get it. Maybe the Walmart like you said ? But I thought the Walmart mastercard was under Chase Manhattan bank. If that's the case, they are unlikely to grant credit if you have no prior credit history.

Anyway, if you find you can't get 1 unsecured then its best to do the secured because more applying (for unsecured) will just send your credit score down while you (anyone without credit) don't even get one unsecured one approved.

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