Jan 042010
I tried to sign up for a gas card to just put my gas on to pay off to build my credit, but was denied. I’m wondering, when it asks during the credit card statement, it says if you rent or own the place you live, but i’m living at home with my family so how am I supposed to say how much I pay in rent or mortgage? It also asks for household income? Do I put my parents income in along with mine or what?
Get a credit card from local bank and pay it in time. You also can use this service to avoid common mistakes while buiding credit and pre-estimate future scores for different scenarios of payments – buildcredit.ifastnet.com
You rent/mortgage is “0″ or “Free” and no, you do not include your parents’ income because that’s not what it’s asking for.
However, I think there is a much better alternative to the gas card: consider getting a “secured credit card” (just google it). With a secured card you deposit money into a account as “collateral” toward anything you charge on the card.
By making small purchases on the card (even for gasoline) and paying it off as soon as you receive your statement, you will build a good credit history over time!
None of this has anything to do with why you were denied. Due to the economy, companies have stopped approving anyone who has not already built credit. This situation may change in the future. If you want to build credit now, go to a bank that offers “secured” credit cards to depositors who have not already built credit, deposit money there, get a secured credit card from that bank, and use it to build your credit. Currently, a “secured” credit card is the only kind that you are likely to obtain until after you have built credit.
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