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12-20-2016, 10:37 AM #1
How do i establish credit?
I am a new graduate and just started working. I've never had a credit card before. Is there anything I can do to help establish credit so I qualify for a card? Or even better - are there any cards I can get today?
Thanks in advance for your help.
12-20-2016, 01:16 PM #2
I recommend starting out with a secured credit card.
Be careful: they don't automatically pay your balance out of the security deposit. So you will need to make your monthly payments. And your credit limit will only be the balance you are able to put up as a deposit. But it shouldn't take too long (maybe 5 or 6 months) before you can step up to a regular card after that. And probably one without an annual fee; and maybe with a rewards program.
12-21-2016, 02:06 PM #3
Department store credit cards are usually easy to get. But pay those bills on time and in full, as they have very high APRs.
12-22-2016, 11:00 AM #4
These are good recommendations.
If you want to help support this forum, you can check out secured credit cards (including the highly recommended Capital One Secured credit card) by following this link:
Check Out Secured Credit Cards on CreditSoup(R)
Also, if you want to look at unsecured credit cards designed for those looking to build a credit profile, check out this article for our current recommendations.
As you show responsible use of credit - including paying your bills on time, never utilizing more than 30% of the credit available to you, and, hopefully, not carrying a balance, your credit score will quickly rise and allow you to qualify for ever better cards.
Good luck!Need a Card to Build/Rebuild Your Credit With? Read This >> Best Credit Cards For Building Your Credit
01-02-2017, 11:18 AM #5
Thanks for the tips!
Hope everyone has a great 2017.