young adult starting out....

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young adult starting out....

Postby jennyrebecca » Wed Mar 25, 2009 9:53 pm

my daughter is 18 and needs to start building her credit. I dont want her to apply for a bunch of cards and be denied and have it all show on her report.

Anyone know which retailers are first time credit friendly? Victorias Secret says they are, but ......????????? without a cosigner?

she was thinking Victoria's Secret or Macys. But is it better to go with Discover? I think they have a descent card for students.

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Postby Cucumber » Thu Mar 26, 2009 3:30 am

Hi well the thing about a store credit card is that they can only be used at that store. Like that Victoria's Secret credit card you mentioned or any other store charge card may be easier to get than a regular credit card but the drawbacks of limited use aren't worth it IMO.

Is your daughter still a student? Because there are a number of student credit cards out there that are easier to qualify for than regular cards. Let me know and I will do the best I can to recommend one

Stop talking crap about him!

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Postby scorch » Thu Mar 26, 2009 9:18 am

A secured card might be good for a young adult starting out.

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Postby Mogul of Pineapples » Wed Apr 01, 2009 6:23 pm

The big negative about secured credit cards is they rarely report to the credit bureaus. So while they are a great tool to manage spelling, they are bad if you're trying to build up your credit score.
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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