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So, today I finally bit the bullet and applied online for a credit card, I went with the Capital One Student Rewards.
I was attracted to it because there was no annual fee and the rewards seem cool. The APR is really high (24.9%) but this did not so much matter to me as I do not plan on carrying a balance..... I want to build credit responsibly...
Well, I was approved instantly!!!! YAY! My first credit card.. (500 CL) .. It will be arriving in 7-10 business days.
I was apprehensive because I have a very limited credit history(literally, only a student loan, in good standing, on my report), but I do have a job and a checking/savings account.. However my credit is so limited EX does not even give me a score..
Thank you Capital One and thank you for all of the advice myfico!!
Current: EX:? / TU: 690 / EQ: 690
Goal: To infinity and beyond!
well good job on getting approved, yeah with an APR that high I wouldn't leave anymore than $20 on it. Good luck on your credit building journey
@Anonymous wrote:So, today I finally bit the bullet and applied online for a credit card, I went with the Capital One Student Rewards.
I was attracted to it because there was no annual fee and the rewards seem cool. The APR is really high (24.9%) but this did not so much matter to me as I do not plan on carrying a balance..... I want to build credit responsibly...
Well, I was approved instantly!!!! YAY! My first credit card.. (500 CL) .. It will be arriving in 7-10 business days.
I was apprehensive because I have a very limited credit history(literally, only a student loan, in good standing, on my report), but I do have a job and a checking/savings account.. However my credit is so limited EX does not even give me a score..
Thank you Capital One and thank you for all of the advice myfico!!
Current: EX:? / TU: 690 / EQ: 690
Goal: To infinity and beyond!
Congratz on your approval. Who do you bank with and have you been banking with them for a while? They may be able to provide you a credit card with a lower APR if need be.
Thanks!
TD Bank. I have never heard anything good or bad about them, have you? I have been with them for about 5 yrs.. always maintain a balance, no over drafts.. ..
I thought about applying with them, but I did not know of the success rate of approvals. The APR is not such a big problem for me. I am just going to spend and repay asap just to build credit.. Then I will go after another card with a better APR. I hear AMEX is the card to get...true?
American Express Zync might be an option to you also and way better
@Anonymous wrote:So, today I finally bit the bullet and applied online for a credit card, I went with the Capital One Student Rewards.
I was attracted to it because there was no annual fee and the rewards seem cool. The APR is really high (24.9%) but this did not so much matter to me as I do not plan on carrying a balance..... I want to build credit responsibly...
Well, I was approved instantly!!!! YAY! My first credit card.. (500 CL) .. It will be arriving in 7-10 business days.
I was apprehensive because I have a very limited credit history(literally, only a student loan, in good standing, on my report), but I do have a job and a checking/savings account.. However my credit is so limited EX does not even give me a score..
Thank you Capital One and thank you for all of the advice myfico!!
Current: EX:? / TU: 690 / EQ: 690
Goal: To infinity and beyond!
Congratulations. That's a good place to start. I know many people trash Cap 1 but they gave me credit in the middle of my BK when no one else would and they are now my oldest card at 12 years.
The APR means nothing. Use it wisely and never carry a balance and the rate could be 100% and it won't matter.
From a BK years ago to:
EX - 9/09 pulled by lender 802
EQ - 7/06-663, 3/10-800
TU - 8/10-772
You can do the same thing with hard work