No credit file or no credit score?

[email protected]: No credit file or no credit score?
I’ve just turned 18 and I applied for a revolving in-store card with Express. They said it would be an easy way to start my credit and so I went for it. Today I got a letter in the mail saying I had been denied because “No credit file or no credit score”. I guess my question is how can I start my credit off if I cannot even get a simple Express card. Thanks

Answers and Views:

Answer by Andy R
ask your bank or credit union for a secured credit card. With the secured card you make a deposit up front to cover the bank’s potential losses should you default.

Your only other real choice is to get a parent to cosign.

Whenever you do get credit be sure to keep charges low and pay on time. this will be your first step at credit.

Also, keep in mind that Credit Card Companies are getting stingy these days. They have had a lot of losses and have to get tighter.

Answer by doreen k
There are several ways.

Find a credit union or small community bank that will give you a small loan or line of credit. You might have to have a co-signer, but you’ll still establish a credit history.

Become an authorized signer on your parent’s credit card.

Put $ 500 in savings (if you have it) and get a secured loan.

Try applying for another type of department store or gasoline credit card. They may have more flexible underwriting.

Answer by Judy
Three important things.
Have a job for 6 months
Have a checking account
Keep trying store cards and gas cards.
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Answer by Laissez-Faire Guy
You’ve got what’s called a “thin file” in the industry.

If you are a college student, see if there is a credit card being offered to students in your college. Sometimes they even have guys out giving out free t-shirts and whatnot during the first week or 2 of school.

If you’ve got an account with a bank, you can ask them too. Someone else mentioned secured cards and that’s a good idea too, but they tend to be expensive to have.