Credit card for a recent college graduate in their 20's?

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sdfd504
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Credit card for a recent college graduate in their 20's?

Postby sdfd504 » Sat Feb 11, 2012 12:54 am

I have a few questions to ask from a beginner looking to get a credit card. I am a 22Y/O that just graduated from college and has a steady job now for around 6 months. I will be making around 28-30k starting out and I am looking to start building my credit. I was wondering what the best option would be for me since I have no current cards other then a debit card through my local small bank. APR doesn't really matter since I will not be carrying over a balance and I do not travel so one with rewards wouldn't matter.


Moneytalks
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Postby Moneytalks » Mon Feb 13, 2012 9:20 pm

Hi sdfd504

I recommend Citi bank. Depending on what you're looking for from your card (cash back, rewards, etc.) I would suggest Amex only if you're willing to pay the fee for the charge cards or if you have a lot of businesses that accept Amex. Otherwise, Citi Dividend Visa is a good card for cash back, a "everyday" card if you will for groceries, gas, and other lux purchases... otherwise, Visa or Mastercard would be a good choice.

Like any credit card, be careful with late payments cause once you start digging a hole, it's hard to get out.

Remember, Credit card companies don't make any money from consumers unless you are late with payments, and charge ridiculous fees :)
Wallet: Amex BCE & Chase Freedom. (Credit Card dieting since 2014)

Celestine
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Postby Celestine » Fri Feb 17, 2012 10:25 pm

sdfd504 wrote:I have a few questions to ask from a beginner looking to get a credit card. I am a 22Y/O that just graduated from college and has a steady job now for around 6 months. I will be making around 28-30k starting out and I am looking to start building my credit. I was wondering what the best option would be for me since I have no current cards other then a debit card through my local small bank. APR doesn't really matter since I will not be carrying over a balance and I do not travel so one with rewards wouldn't matter.


Try Capital One for Newcomers. It is aimed from people with no credit history.

Or your bank's credit card. Another option is to apply for a secure credit card that requires you to send certain amount of money to the lender... I guess that counts as "collateral" in case you don't pay the balance.

Not to bash Moneytalks but Citi Dividend Visa requires to have a good to excellent credit score and history.
"Nearly all men can handle adversity, but if you really want to test a man's character - give him power." - Abraham Lincoln

Money card
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Postby Money card » Mon Feb 20, 2012 12:16 am

For a first credit card I would recommend your small local bank. If that bank doesn't have credit cards, I would suggest another local bank like a Hudson Valley Bank, PNC or M&T would be 1 suggestion.

Another suggestion would be a orchard credit card. They are for people who are just starting out like you. They may give you a 500.00 limit but you have to start somewhere.

Last suggestion would be do you have a favorite store like Kohls, Gap, Pacsun you could try applying for 1 of those cards.

I absolutely wouldn't suggest a Citibank credit card unless your father or mother co-sign because I guarantee you this with no credit cards on your report you won't get this card.

Whether it's a travel card or a cash back card, Citibank is more for people who have 1 or 2 cards with good credit. Since this is your first card cross Citibank off your list.

Moneytalks
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Postby Moneytalks » Mon Feb 20, 2012 9:07 pm

My apologies if I confused you or gave you false information...

But I only mentioned it because it says no cosigner necessary and while you do need good credit, it's a good card to maybe think about down the road I guess...

http://creditcardforum.com/content/best-credit-cards-college-students-8/
Wallet: Amex BCE & Chase Freedom. (Credit Card dieting since 2014)

Celestine
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Postby Celestine » Mon Feb 20, 2012 11:16 pm

Moneytalks wrote:My apologies if I confused you or gave you false information...

But I only mentioned it because it says no cosigner necessary and while you do need good credit, it's a good card to maybe think about down the road I guess...

http://creditcardforum.com/content/best-credit-cards-college-students-8/


No problem... was not intending on doing any harm to anyone. Sorry.

But yeah... when it comes to getting approved on credit cards for those who have no credit history... LUCK plays a big role in my opinion.
"Nearly all men can handle adversity, but if you really want to test a man's character - give him power." - Abraham Lincoln



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