Building Credit
Does anyone have any pointers on getting my first credit card.I dont have credit because I used to be a Dave Ramsey devotee when I was in college but not anymore and I thought I would never need credit.I have applied for a 2 credit cards but I got turned down. I just need some suggestions for good starter credit cards for first-timers building their credit.I want to get a credit card because its more secure/safe and also because I want to build credit so I get a mortgage for real estate at some point.Do yall know of any good credit cards to build credit???
nick007
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Joined: 4 May 2010
Age: 41
Gender: Male
Posts: 27,126
Location: was Louisiana but now Vermont in the police state called USA
My 1st credit-card was a secured one from my bank. It was before I got my 1st job & my only income at the time was SSI. My parents did not want to cosign on any cards for me & they only had one credit-card that they barely used. My parents currently have me buy things online for them cuz they don't feel safe using credit-cards. So the secured one seemed like the only viable option at the time. I got my 1st job a couple months later & after working for a couple months I applied for a non-secured one, got accepted, & then I canceled the secured one. My girlfriend got her 1st credit when we moved in together & bought a bed, we opened a joint account with the bed place. If your parents have decent credit you could maybe ask them to cosign on a credit-card for you or some kinda charge account. If they are concerned about what if you screw up like mine were, you could suggest that they don't give you access to the card/account. Or they could list you as an authorized user on some of their credit accounts that you may or may not have access to. Piggybacking on parents credit seems to be a fairly common way for young adults to start developing credit when they graduate high-school & go off to college or start working these days
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They wont co-sign for me and they took my debit card so I dont have any way to make any purchases on my own.They dont let me use their credit card to buy stuff aside from food.I lost my social security disability income.
FleaOfTheChill
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I'd say try getting a card from capital one. My one daughter got her first card from them.
The card you could get is likely going to be high interest and low limit, with some fees. That's pretty typical of first cards though. I've never known someone to get a decent credit card from the start. One of the perks of capital one though is that they have multiple cards available with varying interest rates and such. As you build credit, they'll send you tons of offers and you can get a better card and either cancel your first one or just stop using it or whatever. They also raise your credit pretty fast if you make your payments. Yeah. I'd say try them.
funeralxempire
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Joined: 27 Oct 2014
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Location: Right over your left shoulder
I just went to the bank and they gave me a VISA card.
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nick007
Veteran
Joined: 4 May 2010
Age: 41
Gender: Male
Posts: 27,126
Location: was Louisiana but now Vermont in the police state called USA
The card you could get is likely going to be high interest and low limit, with some fees. That's pretty typical of first cards though. I've never known someone to get a decent credit card from the start. One of the perks of capital one though is that they have multiple cards available with varying interest rates and such. As you build credit, they'll send you tons of offers and you can get a better card and either cancel your first one or just stop using it or whatever. They also raise your credit pretty fast if you make your payments. Yeah. I'd say try them.
_________________
"I don't have an anger problem, I have an idiot problem!"
"Hear all, trust nothing"
https://memory-alpha.fandom.com/wiki/Ru ... cquisition
nick007
Veteran
Joined: 4 May 2010
Age: 41
Gender: Male
Posts: 27,126
Location: was Louisiana but now Vermont in the police state called USA
_________________
"I don't have an anger problem, I have an idiot problem!"
"Hear all, trust nothing"
https://memory-alpha.fandom.com/wiki/Ru ... cquisition
Oh okay.Thank you Nick.I appreciate your well wishes.The best part of the offer is the 3 to 6 percent discount on all merchandise in store.
nick007
Veteran
Joined: 4 May 2010
Age: 41
Gender: Male
Posts: 27,126
Location: was Louisiana but now Vermont in the police state called USA
_________________
"I don't have an anger problem, I have an idiot problem!"
"Hear all, trust nothing"
https://memory-alpha.fandom.com/wiki/Ru ... cquisition
Oh kool.Ya its always good to save money when you can.
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