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Where to start?

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Anonymous
Not applicable
‎03-30-2012 08:24 AM
‎03-30-2012 08:24 AM

Where to start?

So I'm new to this forum as well as building credit...

I'm 21 and in my last year of college and I have zero credit. I have a part-time job that brings in about $15,000 a year. I want to start building credit, but really have no idea where to start..I've looked into a few student cards, but worry if I'll be approved since I have absolutely no credit history..any advice would be welcome!

Thanks!

Message 1 of 7
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FrugalRican
Blogger
‎03-30-2012 08:26 AM
‎03-30-2012 08:26 AM

Re: Where to start?

I wouldn't worry too much about not getting approved for a Student Card.

But if you want to start somewhere, you could start with a secured credit card or maybe head over to a local credit union as well.

 

And welcome to the forums, I'm sure many more people will chime in with ways to start building.

Follow my financial journey: http://www.frugalrican.com


EQ FICO (01/16/2012): 656 - EQ FICO (02/16/2012): 743 - EQ (02/24/2012): 760 - EX (04/28/2012): 739 - GOAL 2013: 800+

AMEX BCE (0/10K) --- BOA 1-2-3 (0/15.9K) --- Discover More (0/6K) --- Chase Freedom Visa (0/1.4K) -- Hyatt Visa Sign. (0/5.8K) -- Barclay's NFL Card (0/7.5K) -- Chase Sapphire Preferred (0/5K)

Message 2 of 7
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LS2982
Mega Contributor
‎03-30-2012 08:36 AM
‎03-30-2012 08:36 AM

Re: Where to start?

@Anonymous wrote:

So I'm new to this forum as well as building credit...

I'm 21 and in my last year of college and I have zero credit. I have a part-time job that brings in about $15,000 a year. I want to start building credit, but really have no idea where to start..I've looked into a few student cards, but worry if I'll be approved since I have absolutely no credit history..any advice would be welcome!

Thanks!

Welcome to the forums!!!

 

Are you a membe of any local Credit Unions?? If you are, I would go for their secured card if they offer one. If no CU's, try BofA secured. Cap1 is great but will cost you 3 HP's one on each report.



EQ FICO 548 3/3/16
Message 3 of 7
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Anonymous
Not applicable
‎03-30-2012 09:42 AM
‎03-30-2012 09:42 AM

Re: Where to start?

I'm not currently a member of any, but will have to look into them! What would be the advantage of a secured card over a regular one??
Message 4 of 7
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Anonymous
Not applicable
‎03-30-2012 09:43 AM
‎03-30-2012 09:43 AM

Re: Where to start?

Cap One Journey should approve you. Many of my college friends have been approved with 0 credit.

Message 5 of 7
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Jimmy9224
Contributor
‎03-30-2012 10:08 AM
‎03-30-2012 10:08 AM

Re: Where to start?

I recommend cap one or like LS said.. A local CU I started with the cap one secured on Feb 2011 and now am in primeville Smiley Very Happy I go to school and make 15000 a year as well Just remember to be responsible and never ever be late... Ever! Lol seriously though.. Never.
My wallet : Amex Zync NPSL , Discover More $3500, BankAmericard Cash Rewards $1000, Walmart Discover $1400, Chase Freedom $1000, Capital one Platinum $1000, Macy's Store card $100, Amazon Store card $1400, Southwest rapid rewards $5000, Marriot Visa $5000. Barclay Apple $1200
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boomhower
Valued Contributor
‎03-30-2012 11:13 AM
‎03-30-2012 11:13 AM

Re: Where to start?

You should be eligible to join at least one credit union through your school.  Start there and hopefully they can help you out so you can avoid getting subprime cards you'll dump in a year or two anyways.

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