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Old 04-08-2011, 05:30 PM   #1
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Bad Credit Without Doing Anything

I've recently turned 19, and applied for a TD visa card. At first they said yes but after finding out I was not a college or university student they declined it. I asked him to check my credit and he said the only message there was that my new address doesn't match the one at the credit bureau. My friend who isn't in school either got approved for a $1000 card. He isn't working and in the past has made a lot less money than me. Why is it that I'm declined and he is approved. I just want to get a card and start building credit without this secured card bullshit.
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Old 04-08-2011, 05:35 PM   #2
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Maybe open another type of visa or maybe a mastercard?

I recently turned 19 and opened one as well. The problem may be that you are not a student, and currently maybe unemployed?(doesn't say anything in your description)

I think the bank also accumulates your assets. which is your savings inside your bank to see if you are eligible for the credit card
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Old 04-08-2011, 05:37 PM   #3
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There are soooooo many reasons why you wouldn't be approved, and obviously you have done something wrong if they don't give you a basic card. Did you apply for like a $500 limit?
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Old 04-08-2011, 05:48 PM   #4
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I am working part time and have been since I was 14. I am currently making 700 a paycheck. I have a small RSP atm and no savings atm. I applied for a basic 500 limit. I just want a card to start building credit. I was declined at TD and at capital one I was only accepted for a sercure card which I don't want.
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Old 04-08-2011, 08:30 PM   #5
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^ Just apply for the secure one, use it for 6 months...then switch to a normal one.
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Old 05-01-2011, 04:06 AM   #6
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When I turned 19, I apply for a Student Visa credit card from RBC and I got approved even when I listed my income as $0. I told all my friends if they want one, go there and apply and all of them got approved too. Then after a very long time, they figure that I probably isn't a student anymore and gave me a regular credit card. I still have that card and they gave me a Gold Visa without me even having to apply for it. But that was a long time ago and it might be different today.
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Old 05-01-2011, 08:14 AM   #7
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If you put $500 into a GIC, you will be able to get a $500 limit Visa. I did that with Vancity when I turned 19 and used it to build credit. When the GIC expired, I just took it out and used it. It was just a form of collateral in the beginning.
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Old 05-01-2011, 11:16 AM   #8
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Try applying for different cards?
When I turned 19 I got declined by RBC Visa, but was able to get a BMO Student Mastercard.

After building some credit I was able to get the RBC Visa that I wanted
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Old 05-01-2011, 12:39 PM   #9
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try scotia bank.
i find that they are the easiest for loans and cards
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Old 05-02-2011, 06:23 PM   #10
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Maybe the banks see you as a liability considering your money management decisions:

http://www.revscene.net/forums/car-l...t-t643438.html
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Old 05-02-2011, 06:23 PM   #11
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Maybe it is not that you have bad credit or that you have none
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Old 05-02-2011, 08:10 PM   #12
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"Bad Credit Without Doing Anything"
maybe that's the problem

try capital one,
or get a secured card,
gotta start your credit somewhere
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Old 05-31-2011, 07:14 PM   #13
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When I turned 19, I apply for a Student Visa credit card from RBC and I got approved even when I listed my income as $0. I told all my friends if they want one, go there and apply and all of them got approved too. Then after a very long time, they figure that I probably isn't a student anymore and gave me a regular credit card. I still have that card and they gave me a Gold Visa without me even having to apply for it. But that was a long time ago and it might be different today.
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I was a student when I applied at TD and they asked me a bunch of questions. I ended up not hearing from them at all. RBC gave me one with no problems at all. All they asked was my address to see which branch was closest to my home so I could pick it up easier. Go get one from RBC. Their customer service is much better imo.
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Old 06-01-2011, 02:35 AM   #14
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I got declined the first time @ CIBC when I turned 19.

When I received the letter, I got pissed and bitched at them on the phone.

After that I got my visa.
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Old 06-01-2011, 06:03 AM   #15
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ya know what's better then credit? cash.

just keep saving up and with a big enough down payment, your credit won't matter.

or just go to a canuck/lions/etc game and sign up for the mbna mastercard. it asks for household income, include everyone and you're good.
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Old 06-29-2011, 07:11 AM   #16
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A couple of things you should know:

-No credit is just as bad as poor credit
-The more credit cards you apply for the worse it is for your credit rating.....applying for many cards/loans etc lowers your beacon score which will make it more difficult for you to get approved for a credit card.

If you dont know what a Beacon score is, here is an explanation: a single number that summarizes your credit situation and shows lenders what kind of risk you're likely to be as a borrower.
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