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  #1 ()
Uloyalyday : I recently applied for a Discover student credit card and it said I had to wait 5-7 business days to hear if I was approved, so I figured I was denied. But could me recently moving and changing my address have caused the denial? Thanks!!

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  #2 ()
draidiliate : I don't really think so, especially with it being a student card...students tend to move pretty often. One thing to be aware of is that they look at your overall history & some companies look at one report more often than another.

One thing I always check before apping anywhere is on a site called creditboards. You have to sign up, it's free, but they have this thing called the "credit pull database". Members post what card they applied for, what report(s) was/were pulled, what were their FICO scores, were they approved, and for how much. They even show what state they live in because sometimes the same creditor will pull nothing but TransUnion East of the Mississippi, but nothing but Equifax to the West. They also have a "notes" section where people can put in if they had a past BK, past chargeoffs, how many inquiries were already on the report when pulled... the list goes on.

Great tool that I highly recommend to anyone BEFORE they apply anywhere.
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  #3 ()
Kastelanis : Nope. Other things did.
New federal regulations are making it impossible for anyone under 21 to get a credit card. You must also have one years employment with enough income to support a credit card.

You can check your credit reports once a year for free at (all 3) at:
Annual Credit Report.com
You might not be able to get them since this is your first time.
They will give you instructions on how to call the 877 number and get them by mail.
They may request that you send proof of your new address.
^^^ This is a good thing to do. Set up a file today to keep track of dates you do things
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  #4 ()
GaspCypeerexy : I agree with BungalowMo. I just wanted to add that it's not uncommon for Discover to give the 5-7 day notice and getting that does not automatically mean it's denied. You may be getting a call from them in the next day or two so they can confirm information. In the mean time you can always check the status of your application through the link they gave you when they told you it would be 5-7 days.
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  #5 ()
Exteleblerype : I am 18 and have never had anything in my name before. I just got my credit card with USAA and have a limit of $300 a month. I have no bills because I live with my parents. I was told to make small payments, but to make sure my payments were made in full by the due date to avoid any interest and so my payments would have some time to go over to the credit bureau (rather than just paying my bill all at once.) I work a full time job and only make $310 a week before taxes are taken out, so I don't want to ask for a credit increase.
If it matters, I never have interest on my credit card unless my bill is not paid in full by the due date or I ask for a cash advance.

Any advice?
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  #6 ()
EricWZ : With that card. Replace the funds in full each month.
No games of carrying balances that can easily destroy your credit.
Keep usage low. Buy only your gas with that card.
In about 1 to 2 years, you'll end up with nice credit.

Who in the world told you to make small payments.
This is the worst advise anyone could give you.
Every time you make a payment it costs the credit card company money.
I have seen card companies close accounts due to this.
When you get the bill in the mail - pay it in full.

Never dare do a cash advance on a credit card.
I sincrely hope that at age 18 you have not already done this.
Sounds like you need a savings account for emergencies.
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  #7 ()
StatlyAroro : it takes time. but as long as you follow these basic credit card rules you should be in good shape:

- pay off your credit card balance every month - dont be late
- avoid maxing out your credit card if possible and when the balance reaches the limit pay it off

personally, i would also avoid cash advances if at all possible as well.

the main point with credit cards is to pay it off on time and avoid getting in debt.
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  #8 ()
omittedut : Your credit history does not only based on how much credit you have and still paying for it or still unpaid/owed. It is also determined by how much you have saved in the bank, such as in Certificate of Deposit, Mutual funds, Annuities, treasury bills or treasury bonds etc. Of course such things as owning a home and how much you earn, also qualifies you for eligibility for loan and build up your credit score.If you don't need it, don't even bother to apply or have more credit cards, cash advance or request for a higher line of credit or equity. These items just lower your credit score, once you secured them, its accountable in your credit history and it does not matter whether you utilize it or not.
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  #9 ()
DodyAppedly : - use the card every month (if you can afford to pay it off)
- do not use more than 30% of the limit (that would be $100)
- pay off the bill in full when it arrives

it takes about half a year for the card to start having effect on your credit rating. it takes 2 years to get a decent credit rating (assuming you have no previous history). You can have an excellent credit rating in 7 years.
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  #10 ()
Tromsbreedo : First things first.

-NEVER take a cash advance. Just don't do it. The interest rate is ridiculous!

-If you can't pay the balance in full that month, don't settle for the minimum (even if they give you tiny, enticing amounts). Pay as much as you can!

-Try not to max out your card, or it'll cost you a hefty fee (added to your existing debt, naturally)

-Be mindful of interest. Try not to take too long paying it back, I've known folks that were paying interest long after their purchases should've been paid for
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