Thread: Credit Cards for 21 year olds with no credit history?

Hi,

I'm looking for some advice on what would be a good card to apply for to build my history and possibly one that will take a co-signer if this would help at all. I'm 21 years old and currently have no credit history. I have been paying utilites for about 4 months and have recently been employed with pay of 30k+ annually.

I'd love to get some kind of rewards if possible. My main purchases are grocery and drugstore related.

Thanks in advance,
CBlu

Do you have a checking/savings account with a credit union or even a big bank? If so then I would suggest checking into those credit cards offered by that bank.

If you don't then you can try applying for an American Express Zync, Chase Freedom or even Discover More. Those cards are somewhat lenient and in the worst case scenario that you get denied. Then you can give the back door numbers (Backdoor Numbers - FICO® Forums) a call and ask for reconsideration and explain your scenario.

Although most people would probably prefer to not take this route, Crapital One has a "Journey" card with a 19.8% interest rate and no annual fee. As long as you make some money a have a pulse they will give it to you, credit history or not.

Hi there. I'm 21, a college student, and under the realization that I really don't know what I'm doing in the realm of credit cards

I've recently been on the search for a credit car that will fit with what I need pretty well, and I haven't a clue what to look for. I've read the bit about credit cards versus charge cards, and I'm pretty convinced I'd so fine with a charge card (I don't plan on keeping a balance). One of the things that's important to me - in at least 1 card - is no having no foreign transaction fees. I pay for a server monthly/quarterly in Euros, so that would be a big money saver. Even a prepaid/refillable card would do for now, but since I'm spending ~$1100 a year guaranteed, I thought it would make sense to benefit from that somehow. I'm not sure if I'd be more interested in miles or cash-back type cards, but I'd guess that miles or a mix would be more up my alley (I love to travel when I can).

I'm not entirely sure what my credit score is, but I have to assume it's not impressive. I have had 3 bank accounts, one of which got charged off, and I've had a couple of overdrafts here and there. I have, however, had a Macy's credit card for almost two years, though I haven't used it regularly. Other than that, I've just used my TDBank debit card for most purchases. I'd like to start establishing a credit history, though - as an avid traveler, I have my eye on that Amex Platinum card for the distant future.

What are your thoughts? Any card choices or combinations that jump out? Should I bother paying the $40 for a credit report? Should I get a temporary reloadable card for my server, since I have a payment coming up soon, or not bother?

-Paul

Originally Posted by CBlu

Hi,

I'm looking for some advice on what would be a good card to apply for to build my history and possibly one that will take a co-signer if this would help at all. I'm 21 years old and currently have no credit history. I have been paying utilites for about 4 months and have recently been employed with pay of 30k+ annually.

I'd love to get some kind of rewards if possible. My main purchases are grocery and drugstore related.

Thanks in advance,
CBlu

If I were you id try for a discover more student card or chase freedom. Chances are they might deny you and if they do, call their application or new card members number and explain to them you make this much money and kinda beg them in a way to just give you a chance and chances are they will. But just remember if you mess it up, you probably will have to start at a lower level card such as a secured. Banks will gve chances to people with NO credit but for people that messed up a chance they previously got is now considered a person that has BAD credit. Credit is a huge responsibility so if you decide to call and they give a chance, be responsible about it. Pay bills on time and in full and within a few years you should have good credit. Good luck.

Originally Posted by paulharmo

Hi there. I'm 21, a college student, and under the realization that I really don't know what I'm doing in the realm of credit cards

I've recently been on the search for a credit car that will fit with what I need pretty well, and I haven't a clue what to look for. I've read the bit about credit cards versus charge cards, and I'm pretty convinced I'd so fine with a charge card (I don't plan on keeping a balance). One of the things that's important to me - in at least 1 card - is no having no foreign transaction fees. I pay for a server monthly/quarterly in Euros, so that would be a big money saver. Even a prepaid/refillable card would do for now, but since I'm spending ~$1100 a year guaranteed, I thought it would make sense to benefit from that somehow. I'm not sure if I'd be more interested in miles or cash-back type cards, but I'd guess that miles or a mix would be more up my alley (I love to travel when I can).

I'm not entirely sure what my credit score is, but I have to assume it's not impressive. I have had 3 bank accounts, one of which got charged off, and I've had a couple of overdrafts here and there. I have, however, had a Macy's credit card for almost two years, though I haven't used it regularly. Other than that, I've just used my TDBank debit card for most purchases. I'd like to start establishing a credit history, though - as an avid traveler, I have my eye on that Amex Platinum card for the distant future.

What are your thoughts? Any card choices or combinations that jump out? Should I bother paying the $40 for a credit report? Should I get a temporary reloadable card for my server, since I have a payment coming up soon, or not bother?

-Paul

Well a good place to start is to find out your credit score, you can get a close estimate to what it is by checking your plus score for free at creditkarma.com, you can also pay for a more accurate score at myfico.com it's up to you. I'd just use creditkarma then go from there, there's also some card recommendations on their website.

Perhaps the easiest student card for approval these days seems to be Citi Forward, which gives 5x points on fast food, restaurants, and other categories. It comes with an excellent sponsored bonus right now, too.

-CCG

Originally Posted by Meltdownblitz

Well a good place to start is to find out your credit score, you can get a close estimate to what it is by checking your plus score for free at creditkarma.com, you can also pay for a more accurate score at myfico.com it's up to you. I'd just use creditkarma then go from there, there's also some card recommendations on their website.

Thanks for the site recommendation - creditkarma shows my TransRisk acore at 737, and my Vantage score as 709. Not as bad as I thought, but I've got some distance to cover yet.

Also, I just remembered that Chase sent me an application for Sapphire and Freedom cards - while both of these have FTFs, would a Sapphire be a good card to use regularly? The benefits seem OK, but not nearly as good as some other miles cards. Although... they sometimes have a hefty yearly fee, and that's even if I was approved.