Financial wizards, please help...

Okay: things they don't tell you in school.

1) Establishing a credit history is essential if you ever plan on making a big purchase, like a car...a house...a computer...or getting a loan from a bank for any reason whatsoever.

2) Your options for establishing credit are very few, and very confusing.

3) It's a good idea to try to establish a credit history as early on in life as you possibly can, because the sooner you get started, the sooner you can own a home, rent an apartment, etc, etc.

Here is my situation...I thought (because no one told me otherwise) that getting my first credit card would be as easy as just applying for it. Oh, not so. Not so at all. I have been turned down several times now, and the reasons as to why were all, "lack of credit history". Or any variation of wording based on that same principle. I'm starting to get really upset about it. How am I supposed to prove that I would be a good candidate for credit if no one will grant me a card?? I'm going to talk to my banker about it, but I'm just wondering if anyone has any suggestions for me, because I really don't know what to do. Check this out...I can't even buy a BED, I'm sleeping about an inch from the floor on an old futon cushion...and I can't even buy a box spring and mattress until I get a credit card. I mean, I COULD, but it will take forever for me to save up enough $ $ $ . After all my bills are paid, and necessities taken care of, there's really not a whole lot left over. It would probably take me close to a year to save up enough money to buy a bed -- and that's Bottom Of The Line, too. And also, check this out...I can't get an apartment without having a credit history. I'm so eager to prove myself it's insane, it's just a matter of getting a card. I know that you should try to pay your balance off in full before the next bill comes, I know all the things necessary to have good credit, and can't do a thing about it until some credit card company believes me. Arrrrrg. What do I do??

I think you need to have some savings to be considered for a credit card. You could even see if they've got a 'starter' one where you have to have some of your own funds involved but you can also use credit. You used to be able to get these years ago, but im not sure now. Once you have established their trust, they will issue you with greater and greater credit limits.

Just keep pushing those treetrunkers, seriously, it's a consumer's world these days. Threaten to go to another bank until you get your own way. These people really annoy me, they try all sorts of stuff with you but if you put your foot down they may back down. Trust me, i know about customer service and most organisations will bend over backwards to please a customer.

And also, don't buy a cheap bed. Get a good mattress, you'll be surprised at the good night's sleep you get. How suburban am i!

Anyway, i would go with the 'playing each other off' approach. I bet there are heaps of banks vying for your business.

Oops, I forgot to reply to this before!

Thank you for all your advice LG. I'm going to go to my banker and see what he can do. He's a really nice guy who has usually gone out of his way to help me with anything I needed help with before, so maybe he can pull some strings or *something* to help me out here. Yes I plan on buying a good mattress, I'm willing to pay a moderate amount of money for something that's going to last. I'm one of those people who doesn't (usually) believe in buying something really cheap just to get by; I'd rather wait till I can afford it and go with something of some quality at least. Unless it's a guitar! lol! But even my cheapie sounds pretty good, I must say. It's prettier than I thought it'd be, too!