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Elle


Hermes

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I need a credit card - Help!
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So, I need to get my own credit card before I quit my job in 2 weeks.  The problem is, I'm young and have very little credit.  I've had apartments and utility accounts in my name, and have a joint credit card with FH (which was the only way I could get one!), but I'm only 20 so my history is very short.  No car or school loans or anything major at all.


Does anyone have any suggestions of what cards are the easiest to get?  I don't really care about APR or anything like that - it would just be to build my credit so it would be paid off each month.  Store card?  Gas card?  Mastercard?  Visa?  American Express?  Capital One?  I just really don't want to apply and be turned down, since it dings your score.


Suggestions oh wise STers?



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To be yourself in a world that is constantly trying to make you something else is the greatest accomplishment ~ {Ralph Waldo Emerson}
ILoveChoo


Hermes

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don't bother with amex cause they will reject you if you don't have at least 2 cards already.


do you know what your credit report looks like at all? do you have anything on there besides the joint card? (a lot of utilities, rent, etc don't report, also not all cards report authorized users). Store cards will probably be easiest to get (I got a NY and Company card with a blank credit report- I had literally no credit history) and capital one is supposed to be pretty easy but can be a pain with interet rates.


Good luck!!



-- Edited by ILoveChoo at 16:24, 2005-06-01

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rocky


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I got a student visa when I was 18 and had like no credit. They were recruiting ppl on my campus...so I am sure you could get one.

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Elle


Hermes

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Thanks for the heads up with AMEX!


Haven't looked at my credit report - is there a reputable place to do it online?


Rocky - I thought you had to actually be a student to get a student Visa . . . ?



-- Edited by LMonet at 16:27, 2005-06-01

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To be yourself in a world that is constantly trying to make you something else is the greatest accomplishment ~ {Ralph Waldo Emerson}
ico


Dooney & Bourke

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I had this huge problem when I came to the States: I was a student and I had no credit history; they couldn't even know whether I pay my bills on time, b/c I had never paid for any utilities in the States!

I applied for a student mastercard, and that was my first credit card; after that, I got the amex blue for students. I think the blue is easier to get than the regular.

Both started with a very low credit line (I think the first one started at 300$!) and very high APR (about 24-25%, if I remember correctly).
After some months, seeing that I was paying on time and the full balance, they decreased the APR and increased the credit line. BTW, having a joint account with your FH might increase you credit rating, but I am not sure about this.

Don't know if you can apply for any student cc. If you go to some bank website (i.e. Chase Manhattan) or amex website (americanexpress.com), they might have some sort of quizzes that can help you decide which card to apply for. I'll post it if I find something.

BTW wow! you are so young but so wise (I recall what you write on this forum )

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ico
ico


Dooney & Bourke

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some sites that help you find a card:

http://www.creditcards.com/index.php?a_aid=1001&a_cid=1000&a_did=1007
http://tinyurl.com/bupbb
http://www.mastercard.com/fac/welcome.do
https://www124.americanexpress.com/cards/home?action=notregistered


ETA you can request a credit erport from equifax,.com, experian.com, transunion.com
it shouldn't cost much...
hth

-- Edited by ico at 16:37, 2005-06-01

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ico
CarrieS


Marc Jacobs

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Well, I got my first card, Mastercard, from MBNA with a $1500 limit.  However, I wonder if I was able to do that easily because I already had store credit cards (Express, maybe Old Navy?), meaning I already had established some credit.


You could look into them.  I'm not sure of their terms now; they were good when I started but then they went to crap.  I'm not sure if that was because of my own personal account or what though.


www.mbna.com


 



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ILoveChoo


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LMonet wrote:

 Haven't looked at my credit report - is there a reputable place to do it online? 

you're on the west coast if I recall, so you can get a free one from each bureau at annualcreditreport.com.



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member


Hermes

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I don't think you'll be able to get a store card.  When I applied for my Express Card and Gap Card, they both asked me to see another major credit card. 


My very first credit card came from the bank I banked with.  Could you try them?  They gave me one because I kept all my money there and did business w/them.  Otherwise, Capital One is a good starter.



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ILoveChoo


Hermes

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shopchicago33 wrote:

I don't think you'll be able to get a store card.  When I applied for my Express Card and Gap Card, they both asked me to see another major credit card. 
they just need it cause the scan it through the little thing to check your credit score. if you have a debit card, you can just give them that it doesn't have to be a card on its own. Anything with a MC or Visa logo would be fine for that.

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"Life's too short to wear ugly shoes."

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Elle


Hermes

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shopchicago33 wrote:

I don't think you'll be able to get a store card.  When I applied for my Express Card and Gap Card, they both asked me to see another major credit card.  My very first credit card came from the bank I banked with.  Could you try them?  They gave me one because I kept all my money there and did business w/them.  Otherwise, Capital One is a good starter.
The CC Fh and I currently share is through our credit union.  We've had it for almost 2 years, and they raised our limit on it after we'd had it a year.  We've never been late on payments, so maybe my score is better than I anticipated?

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poptart


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I definitely recommend speaking with your bank - especially if it is a credit union. Even if you'll be moving your banking away from them when you move to fabulous Denver, you can keep the credit card with them. They can probably offer helpful advice as well, even if they can't give you a card. But, honestly, I don't think you'll have a problem getting one.

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Elle


Hermes

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'Kay!  Just got my Equifax report from annualcreditreport.com!  The only thing on it is my current credit union CC.  I think I'll check out Capital Ones website to see what they have available - FH has a Capital One card and they've been great with fraud, but not so great about raising his limit or lowering his interest rate.  Won't hurt to try I guess. 


PS - Where's my Suze Orman devotee Farrah to weigh in on this?


ETA:  I just applied online for a Capital One card - I should know in 7-10 days if I'm approved or not, hopefully closer to 7 because I only have that long left at my job!  We'll see!



-- Edited by LMonet at 18:14, 2005-06-01

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To be yourself in a world that is constantly trying to make you something else is the greatest accomplishment ~ {Ralph Waldo Emerson}
Metric


Gucci

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When I was trying to establish credit I just applied to every credit card that came across my path - mailouts, store cards, etc, until I finally got one. I know you're pressed for time but don't get discouraged if you get turned down for a few. Something will eventually come your way!

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Elle


Hermes

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Heeeeeeeeeeeeeeeeeeeyyyyyyyyyy, you know what?  Nowhere on the credit card application was there a place to fill out any information about my employer, just what my household income was.  So technically I should be able to get a card without a job as long as I still have a decent 'household income'?  Right?



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To be yourself in a world that is constantly trying to make you something else is the greatest accomplishment ~ {Ralph Waldo Emerson}
poptart


Coach

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LMonet wrote:
Heeeeeeeeeeeeeeeeeeeyyyyyyyyyy, you know what?  Nowhere on the credit card application was there a place to fill out any information about my employer, just what my household income was.  So technically I should be able to get a card without a job as long as I still have a decent 'household income'?  Right?

I think if the "household income" is coming from your FH, he is required to be a coapplicant.

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Forget, forgive, conclude, and be agreed. - Shakespeare
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