11-17-2012 12:02 PM
11-17-2012 12:04 PM
Your best bet would be to either add your nephew as an authorized user or get him to apply for a secured card. Capital One also has a card that specifcally targets consumers without a credit history.
11-17-2012 12:14 PM
Most any secured card will approve him since there are no negatives. And there are good ones with most major banks and many CU's.
I would pick the secured card from someone who I wanted unsecured CC from in the future.
11-17-2012 12:16 PM
He initially thought of First Premier until I told him how bad an idea that is. According to the First Premier website, they charge card applicants a one-time "processing fee" of $95.00! Insane.
11-17-2012 12:18 PM
Did you know that First Premier is the absolute worst credit card in the market?
11-17-2012 12:28 PM
Yes. That's why I told him to avoid it!
11-17-2012 12:55 PM
11-17-2012 01:01 PM
I'll +1 the secured card idea. Be aware it IS possible to be denied for a secured credit card though, cap1 denied me for theirs.
If he is a member of a CU or something, I would have him go there first, and if not, see if whoever he banks with offers any secured cards or other options for those starting out.
Is he still a college/grad student or no?
11-17-2012 01:11 PM
i added my brother to two of my cards and after 2 months of them reporting he applied for macys card and bofa basic cc and was approved for both. if you can add him as a AU that should help him
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO