Here is what I did when I turned 18:
I applied for the Capital One Journey on my birthday - approved for a $500 limit. I babied it for six months. Paid in full. Also picked up a secured card from BoA
Next, I applied for the Chase Freedom and Discover it after six months. Approved for those. More babying my cards.
Around the end of the year I shot for prime territory and got an Amex and the rest of the cards in my sig.
So I guess my main message is get an entry level card or a secured one for 6 months to a year, and then you'll be ready to apply for what you want. Be mindful that your income is a little on the low side in a lender's eyes, so don't expect high limits.
I also had an auto loan, but don't worry about that unless you're planning on buying a car as well.
Well... You have an AU history going for you, but the income may be a sticking point as far as Amex goes.
If I were in your shoes (well... I actually was at one point in life...) I would get exactly ONE card and ONE card ONLY, then nuture the hell out of it until graduation. You say you're going to responsible (and I'm not doubting that), but you're underestimating just how easy it is to fall into credit card debt while in college. I'm not joking. It's stupid easy, and even the most responsible of people make mistakes.
OK, enough of the lecturing.
Chase Freedom, Discover IT, and Amex Bluie Cash Everyday are great starting cards. NFCU isn't bad either if you can qualify for it.
@efranklin23 wrote:
@Interestedincredit wrote:So i removed myself off of 2 of my dads credit cards which had A HIGH BALANCE due to construction, the CC company updated my report to terminated on those accounts my credit scores are 677 Equifax, 688 TR, and 715 Experian FICO I pulled them from the fico website... currently i am stil authoirxesd users on many of my dads cards a few with high balances (e.g) 2800/3k that is one of his cards.... My question is when I turn 18 I am going to open a checking acct with NFCU then possibly apply for the cash rewards. any suggestions? on what cards I should app for that you think I will get? I would like to get a american express, btw my credit history is 2 years long. I am employed and bring home approx 1200.00 a month.
do you think I will get my OWN credit card the day after my birthday? I am a very responsible individual and will manage my credit responsibly. I want to build a strong portfolio so that when I am older I am "on top" of my financial game. I plan to go into real estate development and thus having good solid credit is a must to qualify for good loans/intrest rates?
all suggestions are greatly appreciated. thanks !!
I believe they're changing the rules on who can get CCs now. I think you have to be 21, get a cosigner or prove that you're making very steady income now to receive a CC in your position.
That's pretty standard procedure for most of the credit unions I've browsed.