I want to get a credit card, for first time !, which one should i get and why ?

Answer 1

Credit cards are bad news!! Sure they help you to establish credit and increase your credit score, but for most people they are a constant temptation calling you to spend money you do not have. If you want a credit card first and most importantly look at interest rates. They are in the end what will screw you when you get a credit card. You may get mailings with offers for 0% APR for the first 6 months or year, but then look at what the rate jumps to. Most offers are around 20% which is really bad. It could take you years and years to pay off a fairly small debt and in the end you will spend hundreds or even thousands more than what you actually spent just in interest charges. Heres an example, I got a line of credit through Dell. I ordered 1200 dollars worth of pc upgrades, the interest rate they gave me was variable meaning it could change from month to month, and it did, sometimes my rate was 31% which is OUTRAGEOUS!!! I was paying a 35 dollar monthly payment, my interest charges every month were like 30 dollars, which meant every month I was only paying 5 dollars toward my actual debt. Had I not borrowed a large some of cash to pay the card off I would have ended up paying them thousands more than what my debt was, and it would have taken many years to do so. Credit card companies are out to screw you so unless you get a really good offer, and rarely use your card I dont recomend getting one, they are more trouble than they are worth! Also they can change their terms at any time and make you pay more for your minimum monthly payment which if you are on a fixed budget can really screw things up.

Answer 2

If you don't have much of a credit history, you probably will have to have a secured card. I doubt you would get a card with AMEX if you have no history, you might, but it's doubtful.

Go to Bank of America, Orchard Bank and HSBC websites. They have a card selector that you can use to see if a card is recommended. The card selector will not pull a hard inquiry. But if you apply for a recommended card then they will pull a hard inquiry. Keep in mind that even if a card is recommended, you may not get it.

If all three offer secured cards, go with the BoA secured card. It will grow with you and it should also unsecure around 9 to 12 months.

Orchard and HSBC are good starter cards, but they will not grow with you like BoA will.

Answer 3

When I was in your place I got my first credit card from the clothing store you see in malls all the time - EXPRESS or EXPRESS for men. You could try there, if not alot of your popular clothing stores in malls would probably be the best place. Or you local bank, maybe get what they call a secured credit card. You give them something like $100.00 and they will give you a credit limit of $500.00 or something.

Answer 4

if you're just starting out, you may want to open a checking account with a visa/mc debit card, then open a small line of credit linked to your bank account -- use the line, and pay it off regularly. this will allow you to establish credit history.

once you have a few months of good payments and responsible use, get a cash back rewards card, which actually PAYS YOU to use it.

I only use cash-back rewards cards, and here are the top ones available:

Citi Dividend Platinum Select -- 5% cash back groceries, gas & drugstores and 1% on all other purchases (best all around card out there). No intro purchase APR, but 0% balance transfer APR for 1 year. There is a limitation of $300 dividend reward dollars / year, minimum $25 increments. this translates to $6k in gas, groceries, drugstores or $30k in general purchases.
https://www.accountonline.com/acq/choose...

Chase Free Cash Rewards Platinum Visa -- 1% cash back on all purchases. UNLIMITED rewards that can be redeemed in $25 increments. 0% APR for 1 year.
http://www.chase.com/ccp/index.jsp?pg_na...

And if you are a Costco member, take advantage of their TrueEarnings American Express Card -- 3% cash back at all restaurants, 2% for all travel (airfare, hotel, car rental), and 1% cash back on all other purchases. No limit in rewards, which are sent to you once a year in a check.
http://www201.americanexpress.com/apply/...

i personally utilize ALL THREE of these cards, for different purchase types -- maximizing your rewards is easy with this great combination, as long as you are paying off the ENTIRE balance every month.

Answer 5

The following websites will give you information on the cards with the lowest rates:

http://www.bankrate.com/brm/rate/cc_home.asp

Be careful not to get yourself deep into debt. Maybe starting with a regular American Express card, where you have to pay the balance off in full each month, would be best.

Answer 6

Get an Amex green card. You have to pay it off in full each month. It will keep you out of trouble.

Answer 7

if you have no credit experience, it may be hard to get a credit card.

But you can get a prepaid credit card, wich doesn't need

Answer 8

noooooooooo don't do it! i used to work for a financial company who specialised in helping people out of debt (iva's) and you wouldn't believe the millions of people in debt and what mess they get you in!! anyway if you definitly are going to go for it remember this when choosing "if it sounds too good to be true ...... THEN IT IS" good luck

Answer 9

Hi there, this is the site that covers your questions from all aspects:
http://credit-cards.ebookorama.com
and here there's some info too
http://finance.ebookorama.com
if it helps please remember me :-)
good luck!