jamsin asked in Business & FinanceCredit · 4 months ago

Why do I keep getting denied for credit stuff? (I just turned 18)?

Hey everyone. So I applied to a bunch of places and companies at this point (Chime, Affirm, a DEBIT card at Chase, Quad Pay). I just turned 18 and I don’t understand why like absolutely no one is even willing to work with me. I did go to a gym in January and sign up but that account closed and the gym thing ended up just being a short term new year resolution haha. Anyways I didn’t even go into the gym once after signing up and I understand I probably messed up there, but like enough for absolutely no company to accept me? Do you guys know what I can do to fix this relatively quickly, I want to be able to be more flexible with paying things and possibly get a credit card. 

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  • car253
    Lv 7
    4 months ago

    Stop applying for cards !    Too many inquiries hurt your credit scrore.   Apply for a card where you have to pay a fee to get it.   Do not apply for any card that says "rewards" with it or any kind of cash back.     Get a card with capital one that you pay a fee.  Then later you can get a better a better card.

  • Anonymous
    4 months ago

    u need a job so the companies know u will pay them back the money

  • 4 months ago

    Several problems... 1.  you are only 18 and don't have credit to prove you have paid on time.  2.  You have too many inquiries.. everytime someone pulls your credit it puts an inquiry on your credit.. too many make it look like you are irresponsible & trying to incur too many debts.  3.  If you didn't pay the gym in full you have a bad account on your credit now.  They now look at your credit as someone with one account that they didn't pay and a bunch of inquiries.  Your credit is BAD at age 18.

    Source(s): Mortgage lender 34 years. I look at credit every day.
  • Anonymous
    4 months ago

    Do you have a job?  how long have you been at that job?

     

    < Anyways I didn’t even go into the gym once after signing up >

     

    Does does that mean you stopped paying?  if you've been contacted by a collection agency it's likely on your credit report.  With no other credit, no one is likely going to take a chance on you.

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  • 4 months ago

    Stop applying. Every time you apply for credit you lower your score. Have you even checked it? You don't have to pay for a credit score--you can get it for free. Do you have employment? How long have you been employed? Do you have savings? A bank account? Have you seen any reasons for the rejections? You obviously haven't done quite enough research here--and you didn't give very much information in your question. If you sign up for a gym and you don't go to the gym, that doesn't affect your credit--but if you sign up and you don't PAY, that does. 

    And you're 18. You are awfully young for any credit granting agency to accept you. Unless you've had a decent employment history and a good payment record for at least a year or two, you're not going to get any more credit. 

    Bank accounts usually come with a debit card--so if you're being rejected for that, it must mean you don't have any money in the account. A debit card is NOT credit. It deducts the money directly from your active account. 

  • 4 months ago

    Do you have a job - even a part-time job?  You should at least be able to get a secured debit card.  However, if you screwed the gym - your posting is unclear about that, then you won't get a credit or debit card from anyone.  You were probably sent to collections and after several months of time gone by and you still have not paid off your contract, then they will sue you for what you owe them.  How many times you went there to work out is irrelevant.  They do not limit the number of times you can go there.  You pay by the month for the "time".  If you choose to not go, then that's your business, but you still owe what you agreed to pay under the contract.  The longer you put off paying, the more you will end up paying.  Interest is a killer, penalties, late fees, breach of contract.  Some day, you will learn that you cannot go through life screwing people, without consequences.

    Source(s): Certified Paralegal, with 25+ years' experience.
  • 4 months ago

    Credit scores are about trust.  You just turned 18, likely have little or not income and therefore little ability to pay your debts, and have zero credit history.  Nobody extends credit in this situation.  You need to take baby steps to establish your trust (credit score) with them.  

    Get a secured credit card.  This means you basically pre-pay your a couple hundred dollars and use your card up to the limit.  It's not really credit since you put up your money first, but it does help establish your credit with on time payments.  

    If you have a parent willing to help, you can be added as an authorized user to their card.  This can help your credit as well.  They are still ultimately responsible for the debt.

    Remember, to get a loan you must first prove you don't need one.  The fact you feel the need to apply so many places says a lot about your finances.  No 18 year old should be seeking out credit other than if they are looking to start build their credit score. 

  • Anonymous
    4 months ago

    To get a credit card you must have a job and quite a bit money coming in which you probably don’t have after turning 18.

  • 4 months ago

    Two reasons:

    1. You applied for a bunch.  If you apply too much, then you are denied for all.  As long as you keep applying, you will keep getting denied.  The first and most important step is to stop applying, for more than a year.  You cannot fix this relatively quickly, or slowly, while you continue to apply.  It takes a year of not applying, not even once, to fix the damage you do just by applying even just once.

    2. You're 18.  Most places don't approve anyone under 21.  Not that it matters; even if you were 21, you'd still be denied because of your history of applying so much.

  • Judy
    Lv 7
    4 months ago

    try for a secured card for a couple years.

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