Newbie - College Graduate w bad credit :(

Discussion in 'Newbies' started by Chissy, Sep 13, 2013.  |  Print Topic

  1. Chissy

    Chissy New Member

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    Hello All,

    I am a Newbie with a passion for travel. I graduated college over 2 years ago with a lot of debt and 3 CC and no job. Needless to say my credit went downhill in the 6 months it took me to get work. I've been working solid for almost 2 years however my credit is still a wreck. It's slowly improving, but since I have settled and past delinquent accounts I do not get approved for credit cards.

    I'm signed up with reward programs for airlines and hotels, but is there any other way I could increase my reward points when I travel. I only travel for leisure and my goal is to get enough reward points for a trip to Europe.
     
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  2. vickers

    vickers Gold Member

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    Until you get back on your feet credit-wise, you may want to consider a reward debit card. As far as I know, only Suntrust Bank offers a Delta Debit Card. Watch the fees though, both checking (monthly fees unless requirements are met) and the annual fee. But, if you can offset the annual fee with the miles, it may be worth considering.

    Delta Debit Card
    https://www.suntrust.com/PersonalBanking/EverydayBanking/Checking/CheckCards/DeltaSkyMilesCheckCard


    Capital One is also very good for granting people with credit issues credit cards. They have a credit card finder here:
    http://www.capitalone.com/credit-cards/

    Their QuickSilver One may work, depending on your score. Annual Fee, but its not too bad, and you can earn rewards using the card. 1.5% on all purchases.

    Barclay Rewards may be another option. They are running a bonus now, and have no annual fee. But it all depends on your credit score. https://www.barclaycardus.com/apply...nId=1655&cellNumber=4&REFERRERID=BCSTX0213ASP

    Also, be sure you register for Credit Karma and Credit Sesame to review your credit score. Both are free and do not require a credit card. Personally, I like Credit Karma better, but they only review Transunion. Hope this helps. I got into trouble myself as a young adult and have been working to dig myself out.
     
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  3. vickers

    vickers Gold Member

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    And welcome to MP. :) This is a very friendly place. I have learned alot by just reading through the forums.
     
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  4. deant
    Original Member

    deant Milepoint Guide

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    Welcome to MP. I do not understand your statement that "I have settled and past delinquent accounts I do not get approved for credit cards". Does this mean that you still have delinquent accounts or past charge offs? If you have past charge offs, you will find it very difficult to get a credit card from any bank where they have written off a debt.

    If you could provide more details, then we may be able to give better advise.
     
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  5. particlemn

    particlemn Silver Member

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    Step 1 focus on your credit and not on miles and points.
    step 2 focus on your credit.
    many of us here apply for many credit cards each year, get all kinds of bonus miles, and take pretty great trips. we are able to do this becasue after years of managing and protecting our credit we are able to now leverage our good credit to get some "freebies"
    I would focus all my energy on learning about how to fix my credit and get on my own two feet again before i would spend any time looking for miles and points, the good news is that many of the skills you learn while putting your credit back together will also translate later if you want to play the miles games. I would recommend making a list of every outstanding credit you have, the exact amount due(not an estimate), the date the next statement is cut and the next due date, place these in a calender and work to pay each bill the day after the statement is cut(not the due date). you also will want ot get in the habbit of verifying 3 days after you pay that the credit has posted to your account. you need to pay attention to the details. focus your time on making sure you get you bills uptodate to stop paying late fees or other interest. I would suspect from your post that if you added all the interest and late fees you are paying up it would buy you a lot of travel. THIS GAME IS WON BY NEVER PAYING ONE CENT OF INTEREST ON A CREDIT CARD. if you charge on reward cards and pay interest you would be better off never having a credit card and paying cash for all trips. the banks offer these "perks" becasue most poeple can not pay off the credit card every month. if this is the case one must focus on the financial aspect of their life not the travel part.
     
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  6. Jaded0622

    Jaded0622 Member

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    I second that Capital One can be helpful. They gave me a credit card when I couldn't get one. My problem was that I had NO credit. (I thought not having debt was a good thing. Go figure.) That card has really helped my score. Hopefully by the end of the year I'll be really to apply for the Chase Sapphire that's gonna get me to Australia next year. :cool:
     
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