Young, no credit, but need a card.

For just about anything you want to get off your chest about credit cards.
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mephistopheles
 
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Young, no credit, but need a card.

Postby mephistopheles » Thu May 02, 2013 3:01 pm

so, i'm new here. please bear with me.

i've always hated the idea of getting a credit card, but it just doesn't make sense not to.

so, i'm trying to get one within the month (for work reasons). i'll be making a silly amount of money this summer, and am trying to get a card with a good airline miles rewards program. i'll be able to pay any balance immediately.

i've been looking at the best travel cards, but i just don't know what to do at this point. please help me pull the trigger?


paparoach429
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Postby paparoach429 » Fri May 03, 2013 1:09 am

With little to no credit file your going to have to start off for the low end easy cards and imo there is no "easy to get" travel cards.

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Snowman
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Postby Snowman » Fri May 03, 2013 1:41 am

I think you should go for a secured card through any bank (BOFA, Citi, US Bank.) and use that for a little while (6 months.) Once you have that apply for an Amex and try for a Gold Delta or the Premier Rewards Gold card, or go for an easier to get card. And then from there, with a little bit of history, you can obtain any travel based card you want. Because you don't really have any history like paparoach said, it's going to be difficult at this point for you to get any travel card, because lenders want to see some history and travel cards have higher interest rates on them as well.
Bank Of America: BankAmeriCard Cash Rewards-4.2k
Citi: Forward-4.5k American Airlines Advantage Platinum Select World Elite MasterCard 9/6/15-4K
Discover: More-7k
Amex BCE.2k- Amex SPG-5k
Chase: Freedom-5kSouthwest Rapid Rewards Plus- 3.6k
Capital one: Venture one-10,000, Visa Signature.

mephistopheles
 
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Location: vinculum juris.

Postby mephistopheles » Fri May 03, 2013 2:08 pm

but do interest rates matter if i plan on paying the balance before interest rates accrue?

and thanks for the advice.

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Z06Biker
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Postby Z06Biker » Fri May 03, 2013 2:27 pm

Maybe you know someone (parents or sibling who lives in your city) that will add you as an authorized user to one of their own travel cards? As long as you promise to pay your share at the end of each month, it would help build your history (though not as good as having your own individual account) and maybe s/he would let you use the card for travel perks and your earned-portion of points?
AMEX: PRG Gold, Business Simply Cash, Business Costco, BCE.
Chase: United MileagePlus Club, Sapphire Preferred, Amazon Rewards
Barclaycard Arrival World Mastercard
HSBC Cash or Fly World Mastercard
USAA World Mastercard, USAA Platinum Mastercard
Wells Fargo Business Platinum
USC Credit Union Mastercard

Daniel
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Postby Daniel » Fri May 03, 2013 3:48 pm

My brother was in a similar situation 8 months ago, he has had a good job for two years and makes around 55k, but has not a single item on his credit report. He grabbed a secured card with a $1k deposit from both BoA and Wells Fargo and BoA is upgrading to unsecured next month, and Wells just upgraded him this month. If you manage them correctly, I would expect that getting an airline card would be possible for either of you after 8-12 months of good management of your tradelines.

I think some of the other guys here know some about how to do this though, so I would be interested in hearing more of their opinions.

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FastSRT8
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Postby FastSRT8 » Sun May 05, 2013 10:59 am

I agree. This is a good strategy to use. It should not be difficult for you to acquire a secured card. As for being an authorized user on someone else's account, I am not sure if this actually helps your cause as it is after all someone else's account and credit history. I may be wrong on this so ask around.

Daniel wrote:My brother was in a similar situation 8 months ago, he has had a good job for two years and makes around 55k, but has not a single item on his credit report. He grabbed a secured card with a $1k deposit from both BoA and Wells Fargo and BoA is upgrading to unsecured next month, and Wells just upgraded him this month. If you manage them correctly, I would expect that getting an airline card would be possible for either of you after 8-12 months of good management of your tradelines.

I think some of the other guys here know some about how to do this though, so I would be interested in hearing more of their opinions.
Carpe diem quam minimum credula postero!



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