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- Location: Denver
ta622 wrote:I am trying to open my first credit card, but I have no credit history in the U.S. I just graduated from college last May, now employed on a $70k base.
Would like to ramp up the credit score as quickly as possible, and have no need to carry a balance in the foreseeable future. Instead of going the secured card way, I'd like to take advantage of my uncle's score by opening a co-signed account.
Does anyone have advice on how to proceed with this? I can't find this option advertised anywhere, and have been getting a lot of misinformation from the retail bankers who try to add me as an authorized user, which in my understanding would not establish my credit with the bureaus.
You would be better off calling Citibank, talking to a banker and proving your income. They will start you out with some card, it just may not have awesome limits at first. I strongly recommend staying away from cosigning anything with anyone other than your wife or husband. Even then it could be questionable, especially if they have bad credit.
I imagine your goal is to establish credit so one day you can buy a house. Start with a small credit card, start saving for that 20% down payment. When you have it all saved up, your credit should be established by then.
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