I'm trying to help my 19 year old daughter establish credit. Currently she has no credit/no score. I did not want to put her as an authorized user on my cards because I want her to start this on her own. What would be a good secured credit card she can start off with. She currently is a college student, also working part-time for a Bank.
Doesn't she has student loans?
My Starting Score: EQ: 691 (11/30/11) TU98: 726 (11/30/11)This is her first year in college
@randeman wrote:I hear Capital One is one of the easiest to get. Other banks that offer them are USAA, Bank of America, Wells Fargo, and US Bank. This is probably not and exhaustive list.
Just be aware, from what I have read, that even secured card applications can be denied, although I think the conditions that warrant a denial are most likely pretty severe. I have never had a secured card so I can't really comment with first-hand knowledge.
Thanks I will have her start looking this week...she doesn't need anything major a small credit line would be something for her to start building her credit.
Discover It for Students and Capital One Journey are both targeted towards college students.
@CEOriginal wrote:Discover It for Students and Capital One Journey are both targeted towards college students.
Are those secured cards?
No, they're not secured. But they're relatively easy to acquire. The Journey card in particular.
Which, by the way, is pretty nice for a student card. It gets cash back at > 1%, has no annual fee, and has a really neat opaque red-and-black design. I've gotten compliments on several occasions because of it.
Can't say much about the Discover It student version.
Yeah you can't beat the rewards and lack of AF. And Cap1 is notorious for low CL for new customers, so nothing to worry about there haha.