Originally posted by sigma:
If Chase denied you, you must be a little worse off than no credit. I didn't think they denied anyone. I got a $12,000 line from them when I was in college and that was 3 times what I made in a year.

Check your bank. They can probably either offer you a very low limit or, as previously mentioned and more likely, go with a secured card.

Also, run your credit report and make sure that you actually do have no credit. You could have something like an unpaid cellphone bill dinging you or even something as serious as someone else using your name/SSN for credit.



Actually, Chase has some of the most strict lending policies in the banking industry right now. Back in the day, it was pretty easy to get a credit card from just about any bank. However with bankruptcies running at an all time high banks have taken a step back with their generousity. Couple that with the new laws regarding minimum payments and unsecured credit is even less attractive to banks now. This is one of the reasons they couple their credit card products with their loans. They want to get their cards in the hands of borrower's with established credit. Even then, they're only offering it to A and B paper borrower's for the most part. You're right though. He should check his credit. It's cheap and will give him a good picture of what he needs to accomplish.

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