Best credit card for 21 year old?

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Best credit card for 21 year old?

Postby zraffz » Sun Feb 12, 2012 3:47 pm

Hey I think I'm in a kind of unique position but I'm not 100% sure. I'm 21 years old, I have never owned a credit card. I've been working for a local township's DPW for 14 months but in the past 4 months I was hired full time ($33,907 yearly without overtime).

I am looking to build credit, however I have no idea where to start! I have read the blog on beginning to build credit but I still am confused.

Which credit card(s) should I apply for and what should I look for?
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Postby » Mon Feb 13, 2012 3:10 am

I'm also 21 and have an income in the same range as you, I've been on the bureau for a year and three months now. My suggestion is to apply for a card through your primary bank, if you have a good history and decent balances in your accounts they should approve you. If you are in a credit union then I would recommend them first. My first card was through USAA and anyone can use their banking services.

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Postby Money card » Mon Feb 13, 2012 11:01 pm

There are a couple of places. 1 would be your local bank and I don't mean chase, capitol1, citi or Bank of america.

  1. I mean TD, Citizens, PNC or M&T bank these credit cards are lower level cards and easier to get. These banks are more thought of for checking or savings. So it would be easier to get a credit card from them.
  2. An Orchard visa these have very low credit limits but they are for people who are just starting out.
  3. A charge card from a store. you live in New Jersey I shop in New Jersey do you have any favorite stores, like Sears or JCP wherever you shop, I would go there and apply for a store charge card.
these would be the best way to get your first card.

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Postby namvet » Tue Feb 14, 2012 12:44 am

All of the above recommendations are good. Once you have made up your mind on the credit card of your choice make the application and wait 6 months to apply again. Building good credit takes time. Keep balances on your card to 30% of less of your available credit. You should have a credit score 6 months after opening your 1st card. Paying on time and not over charging your card/cards should give you a great score within a year or two. Good luck!

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