Best CC for no credit?

Anonymous · ‎08-19-2011

Hey guys,

I have absolutely no credit whatsoever and want to start building it up. What CC is the best for starting to build up credit? I've heard heard about Orchard and Capital One? Thanks

Anonymous · ‎08-19-2011

I pulled this link by clicking on the "Credit Card Center" tab on the top right of the forum screen, then clicking on "See Cards" next to "Start building my credit."

http://creditcards.myfico.com/offers/no-credit/

Wolf3 · ‎08-19-2011

@Anonymous wrote:
Hey guys,
I have absolutely no credit whatsoever and want to start building it up. What CC is the best for starting to build up credit? I've heard heard about Orchard and Capital One? Thanks

For new credit a secured card or 2 is a good way to start. If your checking account bank/CU has them, that is a good place to start. You may want to pick based on who like for the future. Pay attention to terms and fees, there are some stinkers for people with bad credit. stay away from those. .

Capital One has a good secured card with some nice features. Orchard has been sold to Capital One, so I would skip them and go straight to Capital One. US bank has some cobranded cards with rewards that can be secure cards.

Store cards are usually easier to get. So you might consider a card at a store where you shop frequently. They build credit also and generally you get discounts, rewards etc.

lokobo · ‎08-19-2011

I was in a similar situation 2 years ago. I applied and was approved for a no-annual fee, unsecured, Capital One Platinum MasterCard with a $500 credit limit.

Anonymous · ‎08-20-2011

Same here (three years ago). If OP has no baddies, I would give it a try...

The no AF is nice, because you can more or less stop using your card after your CS gets better, but there is no need to get rid of it.