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I only have one credit card, because I never saw the need for another. I did find one that had a lower APR and 0% on balance transfers for six months, so I applied for it. I was surprised to find that I was declined because I "do not have a sufficient amount of credit references".

This may be true, as all I have are that one card, one bank account, one brokerage account, one still-outstanding car loan, and a rather large but paid-off student loan. I rent my home, and I've never had a mortgage, boat, or anything else that required credit. I guess I was a bit surprised to see that wasn't enough for a credit card, but I do know that a lot of my friends have mortgages, multiple car loans, and wallets full of cards.

So my catch-22 question is, how can I increase my number of credit references if I can't even get another credit card? And looking to the future, how am I ever going to be eligible for a home loan?

Many thanks in advance!

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