Cant get accepted for credit. even capital one classic card rejected me?

francescasade11

Hello i am 18 years old, work full time 40 hours a week.
currently have
--halifax account with 100 arranged overdraft
--o2 contract phone
--british gas credit meter

i have no late payments no bad credit what so ever( i have checked my credit report with both experian and equifax). I want a credit card to build my credit as soon i want to buy a house, i want a excellent credit score so i can get the best mortgage deal.
I applied through my bank for a credit card and got refused . so for several months i didnt bother. Read up online that almost anyone can get accepted for capital one classic credit card and as i didnt have any bad credit i applied as i thought i'd have a good chance and to my disappointment i was refused.
Any advice on how to build my credit?

jd87

Are you on the electoral roll?

Try something even worse than cap one. Vanquis?

francescasade11

Yes i am on the electrol roll. i would try but the more i apply the more desperate i look isnt it??

book12

Try your bank first. They will know your banking history, and might have a pre-approved credit card waiting.

izools

The other thing to try is simply wait - you've several new accounts, which you haven't "proven" you can handle just yet.

That and several recent credit searches, it will look like you're trying to accumulate accounts too quickly.

Hold off for 6 months before making your next application and Capital One may very well be alright with you

EDIT: And yes, ensure you're registered to vote.

chanz4

Been only 18 you have not even got a years history, it will take a couple of years really

izools

Although for the likes of Capital One Classic they are often comfortable with 6-12 months history, so long as the applicant hasn't been applying too much elsewhere.

If OP were to retry for the Cap One Classic in six months (no sooner - they'll auto reject the application if sooner) he should be OK, and be in a very much stronger position to get a very nice mainstream credit card like MBNA VISA Cashback or the like when they turn 21 (assuming they pay their bills on time, that is!)