David G
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I currently work for Bank of America, although not in the Card Services division I have a segment of experience with that department. I am an advocate of Bank of America but many credit card companies have the same service I will mention. When I started my credit history I opened a card with Macy's. You could do the same. Typically department store cards, such as Macy's, Wal-mart, JCPenny's, and etc. have lower standards than financial institutions. They will probably start you with a very low credit limit, such as $300 or $500, and with a very high interest rate, such make sure to pay you balance in full every statement period to avoid interest charges. The other method to attain a credit card without much credit is with a secured credit card. A secured credit card is an account that uses previously deposited funds as collateral for any missed payments or defaults. For example, if you want a secured card with a $500 limit you need to give the bank a $500 deposit. They house the deposit in a savings account, which you will accrue interest on typically. If you default on the card the extract those funds to pay your balance. The account is usually opened for a year and the $500 are yours again and your card switches from a secured card to a normal non-secured revolving credit card. All of this has to happen once you are of age, 18 in most states, because if not then anything you sign is not considered a legal tender. Once you have the secured credit card or a store card for about two years you can apply for a Visa or Mastercard platinum card. If you decide that you want something specific from your card, such as points, miles, low rates, high limits, etc., you can check for a multitude of different options on www.creditcards.com. Hopes this helps, keep saving, and good luck building your credit! |
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a_2087moore
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I think you should keep saving until your 18. Eventhough you have money, you're still not legal for a visa. Unless you have a co-signer, but then they will have access to your money. Just keep saving, and when you turn 18 you will be happy that you made that decision. Good luck, and keep saving!!!!!! |
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jk_mandyali
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Contact your bank branch. |
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Gene G
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If you want to establish credit? Wait til your 18 years old. Continue to save until you turn 18. Then if you want, you can get a credit card, or open your own Checking account, which Bank of America does in fact have. They also have free student checking which is easier to open if your planning on going to college. If you turn at the age of 18, they should be able to open a student checking account without a co-signer.
My best solution for this question is this:
When you turn 18. Open a checking account and hold off having a credit card until you have a good full time job. Mostly if you have no collections or any type of credit reported to your credit report, most credit card companies will start you off at a 1000 dollar credit line if not lower depending on what bank you go through.
I suggest you do not get a credit card until you know for sure you can pull income. Getting into credit card debt at age 18 is not good at all because it can impact you later in the future. Bad credit reports from your credit card can damage your credit for the next 2-7 years. (Im not right here maybe. Someone correct me on this)
My best option: Checking account. You get a Visa Check Card and having a checking account open for more then 1-2 years will give you a big chance to get a high credit limit credit card. I suggest you make this decision when you have stable employment.
Also last thing. Do not get a credit card and go to college full time unless you have income pulling in. Credit Card companies will not give you a credit card without having a basic income. Meaning a full time job. |
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cyndee
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Go into your local Bank of America and ask the manager to talk with you. The employees will explain the rules of credit to you and answer all your questions.
As long as you are your parents responsibility (under 18) you can not get a visa credit card on your own credit. Your parents could co-sign or give you a card from their account, with your name on the card. |
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Stefan D K
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You saved 15000 bucks with age of 17. - Great. That's perfect.
Why do you want a Platinum Visa Card? - To impress others ... Better. Open a CD at your bank and save more. You are on an excellent way in your life. Go ahead. Don't apply for the stupid credit card.
Have a ever thought to buy real estate? It's a buyers market right now. And you can't do better to buy real estate for your personal future.
All the best. - You are doing excellent. |
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ms.cherry
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go to bank of america and apply |
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Steve
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Congrats on saving $15K. However, you don't need a credit card. Avoid getting a credit card for as long as possible. |
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Randomname83
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Turn 18 or get your parents (or guardians) to co-sign.
You cannot get a Visa in the United States prior to being an adult (without the signature of your legal guardian).
The only possible exception is if you are considered an adult per the court (rare). |
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~Ta Da~
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If you put your money in a savings account, you should leave it there and make more money off the interest. Just wait until you're an adult, you will get more requests for cards then you want. |
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Samantha J
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You will need to wait until you are 18 - until then you are still legally a child and are not able to sign a credit contract - which means ou can't get a credit card.
If you really need the plastic you can get a pre-paid card.
But why do you need credit? |
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ant t
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No credit cards yet. 18 is legal..21 is better unless you need it to get an apt. |
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Patrice
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you aren't old enough. you have to be 18 |
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Luke W
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First call the branch of the bank that you opened the account in. Then ask them your question about applying for the card. Lastly, it will have a person prepared going into the bank with all the neccessary documents when that person has more information about the subject. Makes it much easier. |
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matt_cruz@sbcglobal.net
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Do yourself a favor and go to another bank then Bank of America, and get a debit card with the visa logo, that takes the money right out of your account as you use it so your building credit, and once the banking companies see you can handle your credit they will send you alot of offers for credit cards, but be careful, they all have hidden things in them to mess you up and pay higher interest rates, I had 8 Platinum cards at one time and it seemed cool till after 15 years of never being late on a payment one day the interest went from 7 to 32. BofA is not your friend |
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average joe
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Why do you need a vise if you have 15,000 dollars saved up... you are going to get a credit card so you pay interest on money that you already have?? keep saving... you will pay 10-12 percent interest on a credit card. That makes that 15k go down fast. just get a debt card as they are excepted everywhere credit cards are. you get credit cards so you can buy stuff that you cant afford. you can afford it so use CASH |
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me and m
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Apply for one |
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Wink
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Try www.bankofamerica.com and click credit cards. Or you can call 1.800.732.9194. |
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rusty s
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You can't until you reach legal age,but once you do I don't see a problem.They will likely freeze some of your savings to cover the card limit. |
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piedkevin
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I think so -- apply for it and see what happens. You've gotta have a good credit rating. |
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Clive L
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Why not just use a debit card to access your own money as and when you need to buy something? If you intend having a visa credit card one day, and this is for the purpose of generating a good credit rating, then whenever you do buy something using the credit facility on that card, ensure that you repay the full amount of that purchase within the stipulated number of days before being charged interest on those borrowed funds. If you are able to access your account on the Internet you can immediately transfer funds from your savings account to your credit card account to cover the purchase made that day using your credit card. Do this for a couple of years and you will have a good credit rating. |
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visvardis
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your not old enough |
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try2help
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YES YOU CAN GET A SECURED VISA CARD ATTACHED TO YOUR SAVINGS ACCOUNT.
Another option, you can be an authorized user on mom or dads account.
Secured only until over the age of 18. |
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BTGNow.net
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Whoa.
You need to ask yourself why do I want/need a Visa Platinum at the agre of 17.
You may be able to, but I don't know enough about credit cards to give you a definitive answer. Talk it over with people at your bank, then talk to some other banks to see if they have better deals on the card.
I strongly suggest against a credit limit you cannot afford. And to determine this you have to be honest with yourself. Think of all the effort it takes a 17 year old to accumulate $15,000.
They may give one to you, but they may require things like having a co-signer (someone who will cover your debts if you cannot pay), and there will most definately be a hefty annual fee and interest rate if you do not pay your balances.
I think you may be making a huge mistake.
But that's just me.
Good luck! |
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daisychick862
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legally you have to wait until your 18 unless you have someone that can co-sign on the contract with u.
they prefer parents family members and some one that can provide security especially because of you age, but showing youve saved that amount of money will deffinitely help with future loans and credit cards etc..
goodluck |
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Huba
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Maybe not a platinum but you can get a secured VISA card. However, it will have to be on an account in your parents' name unless you have proof of being emancipated from them. Join a credit union to get better rates and earn higher interest on the savings.
Get one with a grace period, no fee, and pay it off each month so you never actually pay any interest. |
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Formerly known as Frank Castle
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No. |
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(sk8r_dude)
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wait until your 18 and then call the visa company or go to a visa bank. |
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rodolfo l
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Why not. You ask your parent's help and it will be possible. |
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denastimms
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I think so, that is very impressive what you have accomplished at 17, and I think the Bank would look at it that way too, kudos to you! |
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FreelanceFahad.com
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No you Can;t Becuase Us Law Not Allow you to Do this |
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