Which credit card should I get?
 

Hey guys I just turned 18 a couple of days ago and can finally own a credit card. :woot: I really don't have much use for it other then building credit and having it as backup money incase something unexpected happens. I plan on paying off the balance every mouth. If I could get one of those where there is 0% APR for the first year that would be great.

I have tryed to get one through Bank of America since I've had a checking account with them for over a year. They wouldn't give me the 0% APR when I applyed online though. Will I have a better chance of getting it if I acutally go to the bank myself and apply in person?

Thanks in advance for you help.

If you are going to pay off the balance every month, why do you care if they will give you zero percent or not.


FWIW....get an AMEX.

I got tired of all the points and rewards crap and got an AMEX blue cash return card. I get a nice hefty cash back return every year and don't have to worry about some crappy toaster I "earned" burning down my house.


Agree with Moog, APR is irrelevant unless you carry a balance from one month to the next.

For your first card I recommend you get either an Visa or Mastercard. Everyone takes them. Great for emergencies. If you are in college get a student card from either of them.

Amex is nice but you always need a Visa/Mastercard in your wallet in case someone tells you that they don't take Amex.

For the amount that I suspect you will be charging, the rewards/cash back stuff probably won't matter for some time. Get something that has no annual fee.

OP, do you travel? I travel a lot and have the Capital One Venture card.

2 miles for every $1 spent, plus no foreign transaction fees when I use the car abroad.

I agree with above, AMEX is great but you still will need a Visa/MC for vendors that don't accept AMEX.

My other card is an Expedia Premier Citibank card which also gives double miles when used for groceries, gas, etc.

Capital One anything.

I use my bank debit card if a place doesn't take AMEX. I also give them an earful.

if you're going to pay it off every month, get a cash back or rebate card
i got a rebate visa when i turned 18, and they give me 1% cash in my bank account every year from what i spend during the year, and i don't pay any fees, i think last year i got 80 bucks back...
i rarely ever use cash now, everything on my visa since i get free money for using it

:spit: :stogie:

1) Do you have a debit/ATM card that doubles as a credit card if you don't use your PIN? If yes, your problem is solved.

2) Otherwise, get a Visa or Mastercard-- as several prior posters said, fewer merchants accept AmEx.

3) Get the credit card from a credit union for the lowest non-promo interest rate. Otherwise, walk into your bank (BofA or any other bank where you have an account), go to account services and ask for help getting a credit card-- account services should be able to get you a lower interest rate than normal.

I hope not. It's not like a cashier has anything to do with what cards are accepted. Most places that don't take Discover / Amex don't do it because they charge the merchant significantly more than MC / Visa.

Get the BOA card, doesn't matter what the APR is. Once you get one card and successfully pay it off every month for a few months (build credit), you will have much less trouble getting other cards.

Once you show you can mange a couple cards and keep your balances paid off, your credit score will really pick up.

did any one suggest a secured card?

I don't recommend them as a first card. They are only if your credit is f'd up. Not for someone with no credit. Many of the secured cards don't even report to credit agencies. If he has problem landing a visa/mastercard he can try for a store card first.

I had no credit history & couldn't get anything. A secure card was the only option I had.
A secure card is a great way to build credit without getting into trouble.
OP, don't get a CC. That would be my advise. You don't want CC debit at 18.
Everyone always says I "plan" or "emergency's" Hardly anyone is able to stick to that.

this is how I established my credit as well.

Can you guys recommend a secure card with low or no fees?

Chase Sapphire :p or Amex Blue Cash;

You can view the benefit here: http://www.chasesapphire.com/compare-cards/?id=all

I went to my local credit union.
its been so long that I'm not sure of the fee's and regulations, but I'm sure that all I had to do was keep 300 dollars in the secured account. in fact, I couldnt touch this money once it was in this account.

:werd: I do the same for every merchant that does not take AMEX.

This is what we told our son, he is 23 now and just bought his 1st new car himself... we figured, we (mom and dad) were all the emergency he needed and made sure that his college-based credit card always had money on it... we bought his 1st car for him... a simple accord DD for cash...

keep it simple as long as you can and protect your credit like someone has just pulled a gun on you... you will never regret it... :thumbsup:

For the people recommending Amex and some cards with benefits, there is a slim chance they will accept his app. Cards like chase sapphire and Amex Blue will not take a chance on someone with no credit. Credit card applications go on you credit report and they are not considered good, if I'm not mistaken. The only card that accepted me at 19 years old was discover. I was responsible with that for a couple years, and was able to get a few others.

Well I got a Fidelity with cash back, might as well get 1% :shrug:

Didnt really want to make a new thread since there are so many of this, but I applied for my first credit card and got accepted! :woot:

BoA cash rewards platinum plus!

Gonna start building my credit now, they sent me something that shows my credit score, I dunno if thats a good thing to share among the public so I'll keep it to myself now, but I am above the 60th percentile :D just haha.

Great, now don't let it make you its bitch!

Bumping this thread as I need to get a credit card. I have had a bank card that is also a Mastercard since I was 18 but I haven't had an actual credit card at all. I have had a car loan for the last year and a half to establish credit and I am actually ahead on paying it off.

I need to get a card preferably with 0% apr for the first year if possible as I am going to put a large amount on it in the next month. Also something that gives back high return on gas would be great since I drive a good bit being on target for over 30k miles again for the second year in a row.

I see a lot suggested getting AMEX. I will have to make sure the place I buying through accepts it since it is a small car shop so it might not.

I have the money to pay it off right away just it would make me rather broke for a while which is the only reason I want the 0% APR for 12 months.

So far was looking at this but not sure I will have enough credit history to get it.
http://www.creditcards.com/credit-ca...an-express.php

I have been credit card free for 3 years now.

As in no credit cards at all or no credit card debt?

We got into debt in our early 20s (about 15k). We decided to consolidate our cards through our bank for one monthly payment. We are almost done paying off the debit and since then don't use credit cards. We do have one tucked away for emergencies.

Blue Cash Preferred has a $75 annual fee, fail.

I recommend that your first card be a Visa/Mastercard because everyone takes those. I have a Blue Cash but I also have a Citi CashReturns Mastercard.

I also see you setting yourself up for disaster. You want to load a large balance on the card and then use it for everyday purchases like gas. I know you say you that have the money to pay off the large purchase, but I still see you falling into a hole. Be careful.

I have the money in the bank that I could completely pay it now but I would leave myself with less than $1k in the bank which seems like a stupid idea. I am going to pay $1500 of it up front and put the rest on a card with 0% for 12-18 months but plan to pay it off after 6 months with automatic payments setup.

That card also says you can pay for the fee just by buying $100 of grocery a month which is about what I spend so then I would make the higher cash back rate on the gas and my initial purchase.

I could also do the no preferred card but the return rates are half.
http://www.creditcards.com/credit-ca...an-express.php

Well back to square one. As I had thought being that it is a small automotive shop they do not take AMEX as the fees make it not worth it. So back to looking at Visa, Mastercard, or Discover.

3 of the best deals I can see due to the bonus points/bonus $


Citi Forward card

- no annual fee
- 0% APR for 12 months
- 10,000 Thank You points (redeemable for $100 gift card) when you make $650 in purchases and sign up for Paperless Statements; 5 ThankYou points for every $1 you spend on restaurants and entertainment; 1 point for every $1 on all other purchases; Earn up to 1,200 bonus points for paying on time and staying under your credit limit

There's also a student version if you're a student, which is easier to get.



Chase Freedom

- no annual fee
- $100 cash back bonus when you spend $500 in 1st three months
- 5% cash back in different categories every 3 months like gas stations, grocery stores and restaurants.; 1% cash back on everything else; 10% cash back when you shop online through Chase
- 0% APR for 15 months



Capital One Cash Rewards

- no annual fee
- 1% cash back on all purchases
- 50% bonus on the cash back you earn every year
- One-time bonus of $100 once you spend $500 in the first 3 months
- Earn unlimited cash rewards that don't expire
- 0% APR until May 2013

Thank you for those. I will have to look into the Chase Freedom as it looks similar to the discover card. I will have to check the math on the Citi card to see how the points to cash equivalent works out compared to the other cards.

I was looking at the Capital One Cash Rewards card and this Discover Card.
https://www.discover.com/credit-card...N=STL_MORE_IMG

I have been considering getting a dog recently and it appears to give 10% cash back all year at PetSmart.

I have a Bank of America BankAmericard Visa card that might fit your needs. No annual fee, 3% cash back year round on gas, 2% cash back on groceries and 1% back on everything else. I got 1st year no APR and 50 dollar bonus.

But I've been using my Chase Freedom card the most the last 2 quarters because they had 5% back on gas and this quarter is 5% back at grocery stores, which I use to buy gift cards. After september, I'm stashing this card away because I don't spend very much in the upcoming categories; next quarter is gas again. Wish the 5% CB was all year long for gas and groceries. No annual fee with this card either and I had a 300 dollar bonus.

I got myself into credit debt about 7-8 years ago. 2-3 Years ago I started really whacking away at it. I now have 2 cards, one has my debt, one is daily use if needed. I will often use it in place of cash to get the percentages back, and pay the total every month. With the 12-16 month promotion ends, I transfer the debt to the other card, then charge on the other one. Costs me about $2-300 to transfer, but the interest rate is always super low.

Applied for that Bank of America BankAmericard Visa. It better take a lot less than the 30 days it could take for them to get back to me. I need it way before that.

You can call up the application phone line and check the status of it. Maybe you can get them to hurry the process.

Does anyone know how to deal with $8k of CC debt? They have been in collection for at least 6 months. They always send me letters to pay it off for little. My question is since these agencies buy these debts for 15-20%, can I just offer 25-30% to take it off my credit score? I plan on telling them to list it as paid in full instead of partial.

^ - Yes. The process is sometimes a huge pain in the ass but if you are persistent, and have the cash to do a lump sum settlement, it can work well.

Who is the debt with? And have you received any settlement offers yet?