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 Ok credit but can't get a card? |
| My credit score is in the mid-600s (I forget what it is exactly) but I can't get a card because the balance on the card that I have is too close to the limit ($800 limit). I have been trying to ... |
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keepmewithyou | I am 18 and i want to apply for a credit card? |
Where do i start? Which credit card is best for me?
Does it mean that now I do not have credit history? |
 |
 
Kitty
|
A "secured" credit card works great for starting out with no prior credit history... We had our son start one years back with USBANK.
It basically means you give the bank $1000 they then give you a credit card with a $1000 limit... you go shopping, and pay the credit card bill when it comes monthly like normal credit cards... The $1000 sits in the bank and does not get touched, that's where the title "secured" comes in.
(Do not do business with captial one or any bank associated with them) but thats a whole different story!!! TRUST ME !!
In a few months you have credit built up and you can ask for a higher line of credit. Aaaaaaaaaaah the credit cycle has now begun.... Good Luck and pay off your credit card debt EVERY month and life will be good ! |
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Norton N
|
Dp not be in a hurry to get credit. At your age it can dig you a hole you can find difficult to pull yourself out of.
Save for the things you want. Pay cash. Learn to manage your money you have years to consider credit options. At your age you could probably get a lot of cards but the interest rate is unlikely to be favorable for you.
I know that credit cars for years now have been singling out people of your age. They bank on Mom and Dad bailing you out after you get in over your head. Don't fall for it.
Buy what you save for. Only borrow when you Must. |
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honey
|
It doesn't matter if you don't have a credit history. You will still get a card but with a higher interest rate.
You need to have a job (be employed) for at least 6 months. ( I don't think they check it. But they will ask for your income on the application form).
You can go to the Bank of America, Wells Fargo, Capital One, HSBC, Providian, Washington Mutual, or other websites, and apply for the credit card online. (Visa brand is the most widely accepted, MasterCard is OK too)
I would also say, DO be in a hurry to get a credit card. You have to develop your credit history, so you can rent an apartment, or get a car, or college loan in a near future. Just don't overcharge your cards to the limit. |
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abcdgoodall
 |
Its good you're asking these questions. Nobody explained credit to me when I went through high school and college.
Check out this site I found in my search of "enlightenment":
http://www.dcu.org/streetwise/credit/what.html
Read through that and really understand it. How you pay your bills and how much you accrue in debt will impact your financial life forever.
In terms of a credit card, I'd suggest reading one more article about that:
http://www.kiplinger.com/personalfinance/basics/managing/cash/firstcc.htm
Its useful, and gives you some tools that we may not be able to summarize for you. Good luck! And, manage your money well! |
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GEE-GEE
 |
Credit card companies love to give 18 year olds credit. I dont know why, but their are applications all over college campuses.
Here are two that you can apply for online.
http://www.citibank.com/us/d.htm
http://www.capitalone.com/ |
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GreenRoverMan
 |
NOOOOOOOOOOOOOOOOOOOOOOOOO!
Credit cards are the WORST way to go. As a professional financial advisor, I'm tired of seeing BROKE people come in because of credit cards. If you want to do well in life, learn the following:
#1: Save and pay cash always
#2: If you can't afford it, don't buy it.
#3: Establish a Money Market Account for emergencies.
#4: Invest 15% of your income into mutual funds
#5: Have Patience and make WISE decision on purchases.
#6: If you get the fever to buy something, walk away and wait at least overnight.
#7: Find a money accountability partner.
Follow that advice and you will retire at 50 and live the good life somewhere nice.
You're 18, don't throw your life or money away by messing with CREDIT. They ARE snakes and they will bite. |
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hol_hol_alrigght
 |
1. look for interest rates. those are killer!!! youll probably have a high tho, just because you dont have credit.
Start out at your bank. Most likely you will get on from them. So far i found that american express had the lowest interest rate that i have.
2. then look for annual fees. some credit cards make you pay to have them( a monthly/yearly fee) stay clear!
Make sure to read the fine print!!!!
as for which card is best for you, that is up to you. ARe you a big spender or a saver?
i would go with a mastercard/ or visa- as they are accepted everywhere.
you want to build your credit, but be careful with what you choose. capital one wasn't good to me!:( and stay away from department stores credit. there interest sucks!!!! |
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George S
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go to your bank they will help you all the way |
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caryn
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This is decision only you can make, Everyone is different in how their manage their money. If you think or know for sure you can handle a credit card, then make sure you look at the rates, and well, just about everything they are offering you. DO NOT pay for a card, they take out money from your account that you will not have, but you will owe. No matter what anyone says , they can and will take you to court for non payment. And late charges are worse than not paying. So be very careful in the card you choose. |
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