I am in a bind..

[Swifty1638]

Ok. I am attempting at acquiring boostingsx's car. I am STILL working on my rents, for a cosign. I won't go into details of how much it will be, as I don't know that mike would want that. However, I will say that it's not THAT much. Anyway, IF they decide to be total jerk-offs about it, what can I do? What would the bank give me on this car, assuming they would even do that as far as blue bokk value is concerned? I don't have established credit. I tried to get a card with mac tools, snap-on tools, and even a target card. They all denied me, because I don't have any credit rating! I am in a fuckin' circle of bullshit! How can I break this streak? As you all know, in the financial world, your credit rating is power. I need to establish some at a young, rip age of 19 that I am. It will only help me in the future. I am concerned, because I feel my rents MIGHT not go for it. So, what do I have left?

-A. Swift

[JET]

The only easy way to get credit is to get a secured credit card. It is pretty gay, but it works. You put $300 into an account, then they give you a credit card with a $300 max on it. In actuality is isn't a credit card, but they call it one and it works like one. Be sure to pay it off every month and after 6 months or so you will have a bit of credit to go off of. This also works great for anyone trying to bring their credit score up. It does take some time to work though.

Most banks will not give a loan on a car over 6 years old. If they do, they will want a large downpayment usually. Most banks will tell you to get a personal loan for it, but for that you need good credit again. I think you just have to hope the parents help you out!

[Swifty1638]

That's what I was afraid of. I tried getting a co-sign from them for my buddy's 500whp integra, but nooo, they wheren't havin that. Well, this time around the loan would be MUCH smaller, and still, no idea. I am working on them, but c'mon..

-A. Swift

[Shane@DBPerformance]

If you are 18 or over, you shouldn't have any problem getting a normal credit card, especially if you have a job. He you checked your credit? Maybe there is something bad on it already. Credit card companies are usually happy to give just about anyone a card, unless they have bad credit. They give them away like candy to unemployed college students on the campuses.

[Swifty1638]

I have never missed a payment on my celly, and other then that, I have no credit. I really don't know what I can do. I REALLY want his car, as I am soooo sick of driving N/A. This is REALLY pissing me off.

-A. Swift

[Raptor]

I can't believe the snap on or Mac trucks didn't give you credit through the company, if there was ever an easy place to get credit, they are it. I would run your credit report and make sure your clean, something is likely up. It may even be nothing you did, sometimes mistakes are made and it appears on your credit and of course the ever popular identity theft which is extrememly easy and common nowdays.

[Jana]

Get your credit report and find out what it telling creditor's. There must be a reason you are being denied? ( You have a job, right?)

Otherwise, it's easiest to get a store credit card (i.e. Express/Structure, previously Dayton's, etc). I started with a Dayton's credit card when I turned 18. I think my limit was like $500 or something. But I used it and payed it off each time.

You can obtain a FREE credit report annually now. It's required by law, here's the site: https://www.annualcreditreport.com/cra/noteligible?state=Minnesota&date=March%201,%202005

I did mine just last week, the only downside is you don't get your actual "score", you just see if there is anything negative on your report that has been posted. It's a good iidea to watch your report in case something has been submitted under your name, that is not for YOU. This happened to AJ, a bunch of his dad's stuff was on his report. (Sucks having the same name....) Anyway, this is why it's important.

So, now a few people have told you what to do. Let us know how it works out for you.

[Swifty1638]

Turns out that I have nothing for a credit history. Nothing bad, nothing good. I have a totally clean, yet empty slate. I think that perhaps the reason I have been denied is the length of employment. At my current job, i've been there nearly 6 months. I was working 2 jobs at a time, and after over a year and 1/2, my other job at tires plus decided to lay me off..without benefits (long story). Basically, I don't know what all I can do.

-A. Swift

[Alpine TSi]

Well here is what I did 2 1/2 years ago that lead me to my pretty freaking good credit now.

I wanted to buy my Talon from a guy, he wanted 3500 for it. I talked to my dad about it, he happened to have 3500 laying around. Instead of giving me the money he put it in a CD at our bank and I applied for a secured loan using the CD as collateral. Obviously I got the loan because the bank had nothing to lose. It was a two year loan, I actually came into enough money to pay it off after two months, but I waited until the eighth month to pay it off(that helps your credit more compared to paying it off after only a month or two).

I then waited about a year. I was continually getting credit card offers in the mail, but I ignored them. In early 2004 I applied for a CapitalOne card, I got approved for only 1000 dollars, but got a good interest rate, I then got a preapproved offer from American Express. I used the AMEX only when I knew I was 100% able to pay it, as AMEX is a different kind of card. Then I made a few purchases on the CapitalOne card bringing the balance up to about 400 dollars, paid that off in 3 months.

Since then I have gotten another card with 1000 dollar limit and very low APR, gotten my limit raised on my CapitalOne card, and got straight up approved(with no cosigner) for my first year school loan of 15K, I also just got approved for a 4K personal loan with no collateral.

That is what worked perfectly for me, I may not have the best credit, but lenders have enough faith in me to give me what I need.

Now I know not everyone has parents as nice as my dad, but you don't even need that. With tax returns coming around, if you were going to spend big money on something with it, consider putting it up for a secured loan in the same amount, that way you get what you wanted, establish credit, and have nice easy monthly payments that you could probably swing just like any other monthly bill.

[TheBlizzard]

The more times you apply for credit and get denied the worse your credit gets. So in other words if you have no credit and keep getting denied it will bring your score even lower. Applications for credit stay on your record for six months when you get denied a credit card or a loan application.

CRAIG