Credit card for no credit history with no annual fee?

For just about anything you want to get off your chest about credit cards.
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johny
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Postby johny » Tue Dec 20, 2011 4:27 pm

DoingHomework wrote:If you are 40 years old why do you say you have no credit history? You almost definitely have some history even if it is bad. Have you ever had any account in your name (utility? Bank acct, rental lease, etc?) Are you new to the country?


Yep. I came to the States in 2010. That's why I don't have any credit history. New guy to the states, but an old guy. :-(

By the way, if the bank credit officer insists my wife cosign the card, whose credit history will be built up with the card, if approved?


DoingHomework
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Postby DoingHomework » Tue Dec 20, 2011 4:46 pm

If you open a joint account then it will reflect on both of your credit reports. Just make sure teh account is in your name and you are not just an authorized user.

johny
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Postby johny » Tue Dec 20, 2011 5:05 pm

Got it, DoingHomework. Thanks for your help all along.

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Pete838
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Postby Pete838 » Sun Dec 25, 2011 10:33 am

This info may be a little late, but it may be useful to new people reading the thread.

Capital One is often a good bank for starter credit, as is Bank of America. I saw Money Card specifically put BofA and Capital One on the NO list, but I'm not sure why. BofA routinely extends credit to new immigrants; sometimes even without a SSN. And I know of several people that had Capital One as their first card with zero prior history. For those reasons I would have them at the top of your list. Expect a $500-1,000 limit to start and regular increases from BofA, and not as frequent increases from Capital One but a little looser lending to start.
Freedom is never more than one generation away from extinction. We didn't pass it to our children in the bloodstream. It must be fought for, protected, and handed on for them to do the same.
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Postby Money card » Mon Jan 02, 2012 12:19 am

the reason why is a lot of people get turned down by trying to apply for a major bank card for there first card.
capitol1 is great if you have a couple of cards, same as Bank of America. they are more business orientated and better rewards program.

for somebody who has no credit history, lower level cards would be a good place to start. local banks when you think of TD bank, key bank you think of of checking accounts and debit cards. so starting out with a TD bank credit card it might be easier to get than a Bank of America card.



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