Alright, so I applied for a credit card with discover earlier today. And I went through the process, and I gave all my information, and what not. I thought that it would ask if I was going to be applying towards a student card.(I start college soon) Well that never came up, so the application went through and i got denied for it. So i figured maybe it was because I wasn’t applying towards the student card. So I went and found a link to the student application. I put in all the information, and once again I was denied. So I was wondering if any body could help me understand why this is, because I know this isn’t a hard card to be approved for.
So I’m 19, so yeah I know that’s a little young. But i wouldn’t think that would be the reason to be denied. Like I said I am a student graduating from my community college in 2015. My projected annual salary was $10,000. Which I figured would be fine for a student card. And i also checked off that I do have a checking as well as a savings account. Those were the only questions that it asked. So, I thought I would be able to be approved, but I couldn’t even get passed their computer system with my application.
I know credit cards are bad, but I definitely feel responsible enough with my money to handle it. I’m just looking to build my credit at an early age. Any information on why I was declined would be really appreciated. Or what kind of income or what not a credit card company is looking for to be approved. Thanks to all the answers in advance!
Update:
In regard to Murry’s answer. I am technically a student. I payed for my classes, and i have my parking permit and student I.D. So i would consider myself a student, classes just haven’t began yet.
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✅ Answers
No credit history and your age. Any credit card that I applied to under 21 (minus the secured bank credit card I got a few months before I turned 21) denied me. You need to prove that you make enough money to pay your credit card bills off. Try a secured credit card and maybe having a parent be there with you to help you fill out the application. Incomes vary from person to person.. but they want to make sure you have had the same job for a while and that you make decent money.
You need to actually BE a college student to get their student credit card. There should have been a spot (possibly under employment history) even on the regular application. However; even if you’d been able to list it originally, you wouldn’t have been able to prove that you’re a student, since you’re not.
When you applied again in a short period of time, they automatically denied you. At this point, I would suggest that you wait at least six months before applying again.
EDIT: You might consider yourself a student and you might think that “technically” you’re a student. However; Discover wants you to actually BE a student. If you haven’t taken a class yet, then you’re going to get denied for the student card.
Discover does contact your school to make sure you are enrolled. That happened to me. It could be because you just applied for a card and got denied.
They are looking to make sure you make enough money at your job as well. I was 19 when I got my Discover Student card, and I didn’t need parental cosigner.
Get a secured credit card from a local bank. They are more easy to get. You will also need a deposit as well to obtain one. I got one when I was 18 😀
Since you are under 21, you’ll need a parent to cosign for you.
Source(s): Retired bill collector 35 years