• Full-time student, can't get credit checks approved, no bank will give me a credit card
    3 replies, posted
So, credit score companies fuck me over big time. Every time I apply for credit, I get rejected. Had to get my sister (who's a full-time employed waitress) to put herself through to get accepted on the car finance. I pay the monthly car bills on time, it's in my name, but she's getting the credit score benefits. I have an Experian score of 840 (fair), yet no one will touch me. I'm 22 years old, I have an annual income of £36,720 due to being a scholarship student, but because I'm full-time, I seem to be an "at-risk" potential customer. It's really pissing me off as I could be building up my credit score with a credit card, but no bank will give me one. I feel like I'm wasting potential credit score building using my debit card, since they don't build a healthy credit history like a credit card does. It's like I'm trapped in a niche area where - despite my decent annual income - no one wants to touch me with a barge pole because I don't work. Even when I say I can provide a financial letter of guarantee which is issued from my government (Middle-eastern perks yay) saying they give me a set monthly allowance, it gets me nowhere and doesn't seem to hold any bargaining power to these companies. A part-time job is out of the question since I'm an Engineering student, and I couldn't manage a 16 hour minimum week job (which is a basic criteria to be accepted for credit checks) since it'd fuck over my studies (which is already sorely lacking), and I wouldn't have the time (9-6pm most days in uni for lectures). I turned to a bottom-of-the-barrel credit card company called Aqua who - based on my credit score - said I was a candidate for a 49% APR CC (which is ridiculous but I was okay with it since I know I'd keep on top of finances and pay back everything on time), but then even they rejected me. It's really crippling me in terms of purchasing expensive stuff like household appliances and (eventually when I move into an unfurnished place next year) TV's / Furniture. IKEA rejected me for finance when I wanted to buy a dining table, chairs and a new sofa. I can pay for these items outright, but it's financially crippling, as opposed to paying back a little bit every month which would make buying things so much easier. Any tips or advice on what to do? I really want to start building credit now, so that when I move out of this furnished apartment into an unfurnished place next September, I'll be able to actually furnish my place without having to pay for everything upfront, which is far too expensive. I feel like I've exhausted all my options, and since I'll be studying for the next four years, my financial and studious circumstances aren't going to change, meaning I can't just wait a few years (which I don't have) until I can eventually - hopefully - get a CC / accepted finance applications. I'm tired of shitty computer algorithm credit checks completely ignoring my actual circumstances and just reading off an arbitrary number. The bank I've been with for 2 years (Nationwide) also rejected me for a CC and they've got full access to my debit card history. I just want to get some financial independence but I feel like I hit a wall every time I try.
Think you'd be able to get a credit card for a gas station? Build a little credit until September, at which point you could apply for general CCs again (hopefully with better results).
Like I said, a shitty CC with 49% APR rejected me, and that was pretty much the bottom of the rung, "we-accept-people-with-shit-scores" credit company. All cause I'm an unemployed full-time student. Pretty sure that flags me on the system as a "risky" consumer or something. I'm pretty much stuck at 840 score cause I've done everything in my power to build it but I can't do any more without having a CC / finance. I called Experian and the dude on the phone said my account history was well-kept and he didn't know why I was being rejected, and that it was most likely due to the unemployment student issue. All he said was I can print off my report and take it with me, but I doubt that'll help. Fucking credit checks, make it difficult for young adults to build good credit.
Right, it's just that gas stations tend to shell out comparatively lower credit limits which I would imagine translates to lower stakes, thus perhaps less stringent selection. I was approved on the spot for a Chevron card with a part-time pizza job income and zero debts (didn't put down my student loans).
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