What do you do after you get denied a credit card?

I just applied for my very first credit card. I got denied :(.


The reasons were:


Credit report shows total available credit on accounts too low.


Insufficient amount of credit information is reported on credit bureau report.


What does all that mean?


Also what do I do now?


Getting a secured card does not sound appealing :(.


I do not know if this helps, but I am almost 24 and I am employed with a steady cash flow.|||Credit is a good thing, and it helps to know how to use it.





Your denial is stating that you don't have enough history for whatever lender you chose to consider you a safe credit risk. You have a few options, at varying costs:





Don't do what someone here recommended and apply for a First Premier card. That card is for someone with bad credit and costs an arm and a leg up front just to get the plastic in your hand.





While a secured card doesn't sound appealing, it's really not a bad thing. Both Bank of America and Citi offer a secured card that will help you get your foot in the door with a "prime" bank. Both have a low annual fee. Citi can unsecure after 18 months, and your money earns interest during the secure period. Bank of America can unsecure after only 9 months, but during this time your money doesn't earn interest. Orchard Bank (HSBC) also offers an unsecured card, but I knew less about that one.





Your second option is Capital One. They will extend credit to those with limited files. You can go to their site, click "credit cards," then "see if you're prequalified." You'll probably have to pay a small annual fee, but over time as you build your credit, you can earn a better card with no fee.





The final option that I'll mention (though there are countless more) is to start building your credit with a store card. While you won't be able to use it anywhere but the store at which you got it, it will help you to build credit history.





Once you get your card, use it a few times a month and always pay in full. Don't spend money that you don't already have. Never spend more than 30% of your available credit, and your score will climb. In six months, you can apply for a couple more cards and probably get higher balances and no annual fees. Good luck!


|||It means you have little in the way of a credit history. First, check your credit reports to be sure that whatever information is there is accurate (www.annualcreditreport.com). Then look for a store card (they are somewhat easier to get) or, if necessary, a secured card to start building a credit history.|||most credit cards want you to have a fairly high credit score. the best thing is to start with a secured card. it would only take like 4 or 5 months of using your card then you could get any card you want. get the secured card use it and only pay the mim. do not pay it off each month. they want to see that you can make monthly pmts on time. if you pay off the card at the end of the month then it will not raise your credit score. we had the same problem when we went to buy our home. it only took 3 months for it to give use a high enough score to help us get our home. hope this helps.|||my first credit card was also rejected, so I applied for 3 credit cards at a time and got approved,





First PREMIER Bank


Gold MasterCard庐/Visa





First PREMIER Bank


Centennial Gold MasterCard庐/Visa





First PREMIER Bank


Centennial MasterCard庐/Visa|||you have no credit history and you applied for a card that does not suit you. this financial crisis does not help.





aim for cards that are geared for starters or maybe a department card.





i would wait a month or two.





good luck.





|||You have very little credit history and you need to build it. You can apply for a credit card on HSBC. Pay them on time and ask them to increase your credit limit.