2007-12-05 11:56:18 · 10 answers · asked by Gurpreet S 1 in Business & Finance ➔ Credit
Go to your bank or credit union and apply for a card there. If they will not give you an unsecured card you can get a secured one, where you put say $500 into an account and the card is backed up by that account.
You do not *need* a credit card to build credit. You could also just simply take out a small loan from the bank, say $200 and put it into a savings account and then pay it back when it is due. Another way to build credit is to save up 25-50% down on a car, and your bank will give you a loan whether you have credit or not. Paying on a car loan (or on student loans) builds your credit.
You should never pay any kind of fees or anything to get a credit card. The only credit cards that have fees that would be worth paying are American Express charge cards that have all kinds of perks (such as free access to airport lounges), and they are for people who have a lot more money than most.
2007-12-05 12:00:26 · answer #1 · answered by Tracker 6 · 2⤊ 0⤋
start with a STORE card like MACY'S or SEARS which almost anyone can get. Make small purchases for a few months and always pay in full when the bill comes. Then you will have built a good credit history. Now when you apply with YOUR bank for a VISA or MASTER CARD, you will have a wonderful positive (even though short) credit history. They will probably issue a card with a SMALL limit like $ 400-500. Once you have it, use it the same way--make small purchases and PAY IN FULL. You will be amazed how quickly they WANT to increase your credit limit. Banks "HATE" people who pay in full, because they make no money on their biggest source of income--FINANCE CHARGES. When they INCREASE your credit limit, it shows how much they "HATE" you--they want you to charge more so you can still make some payments but just so you carry a balance, and pay them the 18-21 % where by they LOVE you while they laugh at you.
2007-12-05 12:25:36 · answer #2 · answered by Mike 7 · 0⤊ 0⤋
If you're enrolled in college and near a BB&T they have a great program for students to establish credit where you're almost guaranteed a credit card ($500 limit for freshmen/sophomores.) Just be careful with it! Only use it for things that you would have purchased anyway and then put the money aside for when the bill comes at the end of the month so you can pay it in full! If there isn't a BB&T around you can probably apply online at www.bbt.com
2007-12-05 13:23:17 · answer #3 · answered by Anonymous · 0⤊ 0⤋
You don't need credit at all. Please consider just using a debit card from your bank or credit union and paying cash for everything. It's way too easy to get into trouble with credit and you can absolutely live a wonderful life without ever establishing credit with a credit card.
Check out www.DaveRamsey.com for more information. His 2 best books (in my humble opinion) are "Financial Peace" and "The Total Money Makeover".
2007-12-05 12:56:58 · answer #4 · answered by Mom of Many 2 · 1⤊ 0⤋
Technically, you may no longer have a mastercard until you're 18. a freelance is had to boost credit, and you may desire to be 18 to have a freelance be legal. Capital One, is frequently the 1st mastercard corporation for many folk. they are going to probable provide you a $2 hundred cut back. you're innovations-blowing approximately organising credit. that's important, if no longer needed for this to succeed in existence. Make your money on time each and each month for one million year and that they are going to decrease your fee, and boost your credit to declare in keeping with probability $500. save on and each 6 months attempt to boost your credit. in case you save it up, you have large credit and you will purchase issues like a house innovations-blowing away in any respect. attempt Capital One, in the event that they do no longer provide you a card, no one probable will.
2016-10-10 08:46:50 · answer #5 · answered by ? 3 · 0⤊ 0⤋
The best strategy for using credit cards is:
1. Find the student rewards card(s) that will pay you the most in rewards for your normal spending
2. Funnel most/all of your normal spending through your card(s) without max'ing them out
3. Always pay your balance in full and on time
That way you will:
1. Build your credit quickly
2. Avoid interest and fees
3. Earn nearly maximal rewards
To see which student rewards credit card will pay you the most for your normal spending, you can use this rewards calculator:
http://www.creditcardtuneup.com/?card_type=College+Student
2007-12-06 15:35:07 · answer #6 · answered by moviegoer_j 3 · 0⤊ 0⤋
premier credit card or centennial credit card, just read the fine print before applying. a lot of cards come with a $300 credit limit but with only $50 available balance because $250 fees comes automatic with the card. just read and do your research. good luck.
2007-12-05 12:01:57 · answer #7 · answered by GG 7 · 0⤊ 3⤋
check out www.fastcreditcardapprovals.com here you will be able to compare all major credit cards side by side on rates and rewards. GOOD, BAD OR NO CREDIT they have the right card for you.
2007-12-05 12:26:49 · answer #8 · answered by GTW 3 · 0⤊ 3⤋
capital one or First premier bank. With first premier bank watch out for the fees they are vey high initially.
2007-12-06 05:00:49 · answer #9 · answered by outlawimmortal2 2 · 0⤊ 0⤋
so do i.and i am also 18.but i'm in china,in china,it should be the credit card of bank of china.and i'm not sure in america.
2007-12-05 12:01:23 · answer #10 · answered by xiemouren218 2 · 0⤊ 0⤋