Help with picking out a credit card

For just about anything you want to get off your chest about credit cards.
7 posts
ineedacreditcard
 
Posts: 1
Joined: Sat May 21, 2016 1:41 pm

Help with picking out a credit card

Postby ineedacreditcard » Sat May 21, 2016 1:47 pm

I recently graduated college (December 2015) and do not have a credit card. I have decided that it is time for me to get a credit card and become an adult, as I do have a full time job. Since I know absolutely nothing about credit cards, what is a good credit card to start out with? I have gotten my credit scores and reports from all bureaus: Exp: 688 Trans: 688 and Equifax: 685. The only thing that I have on my credit report is a hard pull from capital one in February(applied for a card I was no way qualified for) and Comcast July 2014 when they set up my cable in college. Any and all help would be greatly appreciated! I just do not want another hard pull when it's not necessary.

Thanks!!


Elijahmex
Centurion Member
Centurion Member
 
Posts: 180
Joined: Mon Sep 29, 2014 1:10 am
Location: EURO-US

Re: Help with picking out a credit card

Postby Elijahmex » Sat May 21, 2016 7:33 pm

I'm in no way a credit card expert but I do know there are a few things to consider. What do you spend money on? Gas, groceries, dining out, travel, online purchases etc...? If you provide more info people will be able to point you in the right direction.
Image

takeshi
Centurion Member
Centurion Member
 
Posts: 1733
Joined: Wed Jun 05, 2013 3:12 pm
Location: US

Re: Help with picking out a credit card

Postby takeshi » Mon May 23, 2016 10:12 am

ineedacreditcard wrote:Since I know absolutely nothing about credit cards, what is a good credit card to start out with? I have gotten my credit scores and reports from all bureaus: Exp: 688 Trans: 688 and Equifax: 685.

If you don't have any cards it probably doesn't matter much which one you get as long as you can qualify for one. What model are those scores? You don't have just one score with each CRA. If you're going to refer to scores to get a new card then you need to consider the specific scoring model & CRA used in the decision for the product you intend to apply for since only that specific score will be considered. You can use the Credit Pulls Database to determine that but keep it mind that it is never just about score.

Good is always highly subjective. If you can provide more of your requirements we can help you to narrow down the options.

Kevin86475391
Centurion Member
Centurion Member
 
Posts: 237
Joined: Wed Feb 18, 2015 9:04 pm
Location: Texas

Re: Help with picking out a credit card

Postby Kevin86475391 » Mon May 23, 2016 1:14 pm

I would also suggest checking out the pre-qualification sites. Here's a link to a blog post that lists prequal sites for all the major lenders:

http://www.doctorofcredit.com/view-pers ... rd-offers/

Checking pre-qualification approval should only be a soft pull on your credit and won't affect your credit score. You'll still need to do a hard pull with your actual app based on whichever one(s) you select, but this should help you narrow down your options.

I believe the accuracy of the prequal sites varies somewhat. From what I've heard Chase and Capital One have very solid prequal sites. Perhaps others can chime in on the accuracy (or inaccuracy) of prequal sites for other lenders.

salt_water_swimming
Green Member
Green Member
 
Posts: 4
Joined: Tue Aug 04, 2015 12:39 pm

Re: Help with picking out a credit card

Postby salt_water_swimming » Tue Jun 07, 2016 2:17 am

Without knowing more about your spending, it's hard to say. I usually target cards that have a sign up bonus so you get up-front value, but if you don't really know what you're doing, apps for Chase Freedom, Discover It, and Citi Doublecash are fairly safe. It's a solid core of cashback cards with no annual fees.

User avatar
TyE
Gold Member
Gold Member
 
Posts: 25
Joined: Wed May 04, 2016 6:00 pm

Re: Help with picking out a credit card

Postby TyE » Fri Jun 10, 2016 6:23 pm

If I were you I would apply with Capital One. They are on the lenient side when approving people with no/bad credit. It wouldn't hurt to call them and before applying speaking with an underwriter and explain your situation. They can override the system of you have a good reason (which you do). Good luck!

12volt
Green Member
Green Member
 
Posts: 7
Joined: Fri Jun 17, 2016 3:46 pm

Re: Help with picking out a credit card

Postby 12volt » Fri Jun 17, 2016 4:28 pm

I agree with the Capital One suggestion. They're generally easier to get an acceptance from.



Return to “General Credit Card Talk”

Who is online

Users browsing this forum: No registered users and 0 guests