Credit cards to first-timers II

Credit card of security

People can apply for a secured credit card when they are lack of credit history that keeps them from getting a standard credit card. You can make a deposit against the credit limit of your account with a secured credit card. If you do not make payments as agreed, the bank will hold the deposit. As long as you make monthly payments on time the credit card issuers will not convert your secured credit card in to unsecured one. However, whether you have a secured credit card does not affect the credit report, so it is no need to worry about the chance to get other credit cards.

How to be Qualified

Through the Credit CARD Act of 2009, before you have a credit card the credit card issuer will confirm if you have your own income during your age of 18 to 21. Start from October 1, 2011, people are not qualified to have a credit card by using their parent’s income, even if they are willing to pay your credit card bill. You should at least have a part-time job from which you make $300 per week. However if your income is enough for the credit limit will be valued by the credit card company. You can only get a credit card with a co-signer who is over 21 and has the right income if you under 21.

Moderate and Limited Credit Cards

With the type of credit history you could get approved for your credit card by review from some websites. Choose a credit card that accepts applicants with moderate credit, there will be more chances for you to get approved for a credit card if you have limited credit history or a fair credit score. For those credit cards that require excellent credit you no need to apply because you are more likely to be rejected.

Jumpstart your credit after denials

When you receive a letter saying you are denied to apply the credit card, you can use the information to figure out the next step. You can use other type of credit card for example a secured credit card to be advantage after the denial.

Credit cards to first-timers I
Credit cards to first-timers II