American Express? Visa?
2006-08-14 09:46:29 · 13 answers · asked by Paul G 1 in Business & Finance ➔ Credit
Hi there, this is a good site that willexplain it all quite well: http://credit-cards.ebookorama.com
and here there's some info too
http://finance.ebookorama.com
if it helps please remember me :-)
good luck!
2006-08-14 15:34:43 · answer #1 · answered by Anonymous · 0⤊ 0⤋
By "Get" I hope you dont mean you are cosigning for the card. That is a huge mistake to make. After that, I would say a car with a small credit limit is the way to go- which means not the standard AMEX card. Go with a low limit ($500 or so) Mastercard or Visa. Either one will affect his credit rating equally. A "no limit" card like the standard Amex can have a negative effect on your credit score, as the calculations have problems with the Available credit vs. used credit part of the formula, when there is an account with no limit.
2006-08-14 09:54:05 · answer #2 · answered by bmwdriver11 7 · 0⤊ 0⤋
If your looking purely to build credit and nothing more, get a signature loan of 500 or 1000 dollars, put it in a bank acount and make the payments back to the bank. Just dont spend the money. Or get a secured credit card. Kind of the same thing as the other way except you give the bank the 500 or 1000 dollars and they give you a credit card. If you default on your credit card bill they take it from the money you gave them
2006-08-17 19:05:18 · answer #3 · answered by Paul M 2 · 0⤊ 0⤋
Try this card. It will help you build credit because it reports to all 3 credit bureaus. There is no credit check and you are guaranteed acceptance. The limit starts out low but increases as you pay on time. That way you can't build up too much debt too fast.
http://creditoffernow.com/imaginecard
2006-08-15 02:40:01 · answer #4 · answered by Harvy S 2 · 0⤊ 0⤋
It all depends on you !! Do you have a good credit rating ? Your 1s step should be to check your credit rating is it is below 650 or so forget about AMex and Discover cards try Orchard bank etc.
You can find all those credit cards at
http://www.winterinjuly.net Good Luck to you
2006-08-14 13:54:29 · answer #5 · answered by CreditCardMan 2 · 0⤊ 0⤋
None. You don't need to build credit. Get a Visa debit card that's tied into your checking account.
2006-08-14 11:45:06 · answer #6 · answered by CCTCC 3 · 0⤊ 0⤋
I would say NONE.
I got a credit card when I was 20 and made many mistakes.
You could get a secured card where they pay a deposit and can only spend up to that amount.
Visa is more widely accepted than Amex, and they generally have less of an annual fee.
2006-08-14 09:52:18 · answer #7 · answered by xogeniousox 2 · 0⤊ 1⤋
What is a Cash Back Credit Card
By: Jon Francis
Find one that with a limit you think he can handle. This site has a load of good advice on credit cards...
Good Luck!
2006-08-14 09:51:01 · answer #8 · answered by Anonymous · 0⤊ 1⤋
first of all you want a pastime to get funds, funds buys issues. procuring issues on a mastercard create credit as long as you pay them off. you do not favor credit at 19 years previous. till your planning on procuring a automobile or a house, yet you ought to have a co-signer in any case.
2016-12-06 13:13:55 · answer #9 · answered by ? 4 · 0⤊ 0⤋
There's really no definitive answer here. Personal preference, and which ever one offers the best deal that is most suitable for the 20 year old's personal situation. Be careful, though.
2006-08-14 09:52:34 · answer #10 · answered by nfaustman 4 · 0⤊ 0⤋
None. Credit cards and credit in general is just legalized theft.
2006-08-14 09:54:20 · answer #11 · answered by Back Porch Willy 3 · 0⤊ 1⤋