What is the BEST credit card 2 get 4 someone that never had one?

Question

I'm 18 & I'm a mother .So I'm in need of a lil help wit stuff.
I HAVE NEVER HAD A CREDIT CARD B4.
So I have been thinking about getting a credit card. I'm not all that sure how credit card r with "Intro APR" "APR as low W/E" & "Rewards" I'm not sure whats best. So I need a lil help from someone that does. All I want is like $500-1000 on tha card .And a low monthly payment thats all. Thankz

Was jus read all tha answer ...& Just wanted 2 add that. know all tha bad about them.But I always pay my bills on time.So no worry about that.Cause I'm going to get one no matter,But anyways thanks 2 all who answered ..

Answer 1

The problem with having a balance on a credit card is the high interst that you pay. You should never get a credit card with the intent of having a revolving balance. If you can't buy it then you don't need it.

Answer 2

If you've never had a credit card, or never borrowed before, then you have no credit history. Very few companies will give a credit card to someone who have no credit history. Your best way to start a credit history is to get a secured credit card whereby you place $200 or $500 in an account and use it as one.

The lowest APRs go to people who have excellent credit histories. You can try and get department store cards and make some purchases, just be sure to pay on time each month and don't get into debt. That would make for a bad credit history.

Don't try for a bank loan until you have some kind of credit going for a few months or longer. It takes time to build credit. If you apply for a card now, and get rejected, it too, will be on your credit history. Your credit history is very important and will stay with you for the rest of your life, so take good care of it.

Take a look on the 2nd website as it will help you with developing & improving your credit history.

Answer 3

STOP!

Credit cards are either a trap or a tool, depending on how you use them.

If you intend to run up $1,000 on it, it's a trap. If the interest is 18%, you'll be paying $25 per month for five years, for a total of over $1,500. That may look okay right now, but if you do that at 18, imagine putting a zero behind all of those numbers when you're 22.

Don't charge more on a credit card than you can pay when the bill comes due.

That being said, credit cards build up credit, assuming you pay on time and all that.

The easiest ones to get are from service stations. Shell, Texaco, Exxon, big names. Once you've had one for a year and paid the balance each month, you'll find it easier to get a regular credit card, and it won't be as dangerous to have it.

I recommend you take it slow and carefully on credit. It's not as simple as they make it look on television.

Answer 4

If you dont have a credit card and never have had one then your probably going to be better off not getting a credit card. Because no matter what gimick they use to get the card to you the interest rates change after a certain period. Some credit cards require you to pay the full amount each month. And its very easy to get out of control with them. i know its not fun but its really your best bet to wait on the credit cards because when your older you will need your credit for being able to finance a house or a car. Good luck!

Answer 5

a prepaid card scores over credit cards especially if the owner has a not so perfect credit history.

The rejection is non existent in case of prepaid credit cards, there are no credit checks, no employment verification, and approval is guaranteed.

With a bit of dilligent shopping and comparision of various prepaid credit card offers, it is not difficult to find a prepaid card with no annual fees, no late payment fees, no repayments, and no penalties whatsoever. So, the ownership costs of a prepaid card can be negligible.

With prepaid cards it is very easy to promote financial discipline. Since you can only spend what you have, there is no overspending, and hence no debts.

Some prepaid cards do report their use to major credit bureaus and hence are a good instrument to rebuild credit history.

Prepaid cards have wide acceptablility, and in some cases they are even more readily accepted than credit cards. Apply online for a best prepaid credit card at: http://www.credit-card-gallery.com/PrePaid_Card.html

Answer 6

They're right - credit cards will get you into trouble very quickly if you mess up. But if you're responsible about it, and pay over the minimum payment due every month (like if it says your minimum payment due is $25 pay $50. If it says minimum payment due is $75 pay $120) and pay it on time, it will help you build your credit and in the long run, help you establish yourself.
In my opinion, HSBC Orchard Bank credit cards are the best cards for people just starting out.
Here's the link: www.orchardbank.com
Hope I helped!

Answer 7

everyone has given you very good advise -- i will now throw in my two cents == i would get a discover card -- i would not worry about the limit or the interest rate -- because i want you use it as a debit card and pay off you balance every month ahead of schedule == you will get money back on their rewards program -- but like everyone said with a credit card comes the responsibility that you use it wisely on within a few months you could easily be up to you ears in debt!!!

Answer 8

American Express is a good card to get. I use pre-paids cause I only spend what I put on it and I can put up to a grand on it. They even sent me a card with my name on it as well so that I can show ID and prove that I am the owner of the card. I am a newlysingle mother ad its a great way to help with my buget. I can pay all my bills with the card and I dont have cash on me all the time either.

Answer 9

Consumer Reports is doing a report on Credit cards this month. Read it.
You may prefer not to use credit and just use what you have. So you don't end up with lots of bills, continually, in the future.

Answer 10

Credit cards are bad. Don't use them. The only thing that should ever be purchased on a loan is a home. I really recommend that you check out Dave Ramsey at http://www.daveramsey.com/ and possibly enroll in Financial Peace University. If you can, listen to his afternoon radio broadcast.