Credit card suggestions?

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ace198
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Credit card suggestions?

Postby ace198 » Sat Oct 30, 2010 5:54 pm

Hey I would like to ask you guys for credit card suggestions that would be good for me. I have no credit history but would like to get one to build one. I got rejected the first two times I ask for a suggestion. :(


meester kneel
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Postby meester kneel » Sun Oct 31, 2010 11:46 am

Look into getting a secured credit card. A secured card requires a cash collateral deposit that becomes the credit line for that account. For example, if you put $500 in the account; you can charge up to $500. You may be able to add to the deposit to add more credit, or sometimes a bank will reward you for good payment and add to your credit line without requesting additional deposits. So basically you financially backing your own credit line. Just shop around and find one that doesn't charge a annual fee.

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Postby knuddl » Mon Nov 01, 2010 3:00 am

I pretty much had the sam problem. I agree with meester kneel. Get secured cards that is about the only way on starting your credit history. I got a visa from BofA and mastercard from Cap One. With BofA I already had a checking and savings account. That helped as well. I deposited some money into the creditlines and got approved. Just make sure that the issuer is really reporting to the CRA otherwise it won't do you any good. So be careful about that. There are quite a few good offers mentioned in here. Just check 'em out.

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Mogul of Pineapples
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Postby Mogul of Pineapples » Tue Nov 02, 2010 7:53 pm

If you are a student it may be possible to get an unsecured student card. Other than that circumstance I agree with the advice above- good points guys.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

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ace198
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Postby ace198 » Sat Nov 06, 2010 6:14 pm

You guys think I will get approved?

meester kneel
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Postby meester kneel » Tue Nov 09, 2010 10:03 am

ace198 wrote:You guys think I will get approved?


They really can't turn you down since your using your own $ as your credit line. I don't think the bank will run a credit check on you, but they will report your activity to the credit bureaus.

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Mogul of Pineapples
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Postby Mogul of Pineapples » Wed Nov 10, 2010 1:26 am

If you're talking about the secured credit card suggestions meester kneel is right, you can't be turned down if you are willing to put up the money that's required.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

Current Cards:
American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
Primary Everyday Card: American Express Blue Cash
Primary Travel Card: Chase Sapphire Preferred

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Postby CCG » Fri Nov 12, 2010 11:07 pm

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ace198
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Postby ace198 » Tue Nov 30, 2010 10:18 pm

I applied for the Capital One Secured Mastercard on November 9th and made the minimum deposit of $200. Got the card on Black Friday(November 26th). Charged about $50. Paid most of it already. The only reason I didn't pay the whole thing is because most of the transactions didn't show up yet.

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ace198
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Postby ace198 » Wed Dec 01, 2010 11:58 pm

Some people say it is bad to pay off recent charges right away. Say it is better to pay in full when the statement comes. Would that be better or no?



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