Your First Credit Card

Eighteen is a liberating age. You’re legally an adult. You can vote. And, you can get a credit card. As eager as you may be to get your first credit card, many credit card companies aren’t so eager to give you one. Rather than putting in several credit card applications, target just a few companies that are known for giving credit cards to first-timers.

1. Credit cards for students

The sad truth is, credit card companies are more than willing to dole out credit cards to college students. If you’re enrolled in college, you have a very good chance of getting approved for a student credit card. Be wary, credit card companies are notorious for preying on college students. Start with only one credit card, no matter how many other offers you get.

2. The bank of your checking or savings account

If you’ve been responsible with a checking or savings account, you can try applying for a credit card at your bank. Talk to a bank representative about opening up your first credit card. Having an existing relationship will improve your chances at getting a credit card application approved.

3. A department store or gas credit card

Department stores and gas companies typically have easy credit card approval. This can make getting your first credit card less complicated. On the downside, they have high interest rates that make it expensive to carry a balance from one month to the next.

4. A secured credit card

When your (lack of) credit history keeps you from getting a standard credit card, you can apply for a secured credit card. With a secured credit card, you make a deposit against the credit limit of the account. The bank holds the deposit just in case you don’t make your payments as agreed.

THIS CONTENT IS FOR INFORMATIONAL PURPOSES ONLY. THIS IS IN NO WAY GIVING ANY LEGAL ADVICE OR REPRESENTATION. THE INFORMATION CONTAINED HEREIN WAS COMPILED FROM VARIOUS ARTICLES. FOR ANY LEGAL ADVICE OR REPRESENTATION SEEK YOUR OWN LEGAL COUNSEL.