First Credit Card(s)

[1992]

Just graduated college and will be starting a job soon, so i decided it's time to play the credit card rewards game instead of just using my check card everywhere. 

So i'm looking for the best cash rewards cards or combination of cards.  How many do you start with?  Will I be able to get approved?  My only credit history that I know of is the last 3 years i've paid my utilities and cable bill with my check card.  

My main expenses will be rent, gas, groceries, and restaurants/fast food.  

Pretty intrigued with using a BankAmericard Better Balance Rewards card to pay a cable bill each month to get $25 back a quarter.  

Just not really sure where to start.. Thanks for the direction. 

[Revelate]

Welcome to the forums!

Do you have anything on your credit report at all?

If so, post and you might get better advice; however, in this instance it certainly sounds like the BOFA secured card is the way to go for your use case, and try the Capital One pre-approval link as well.  You want 2-3 cards right out the gate, and it's not a bad idea to tack on an installment loan if you don't have an auto loan or similar (Alliant Share-Secured loan, can't recommend this product highly enough based on my own experience).

The higher tier rewards cards are simply out of reach as a no file, for a year or longer after establishing credit.  

[1992]

Thanks for your reply Revelate.

Unfortunately, I have nothing on my report.  Looks like a checking accounts and public utilities do not show up on credit reports, so all I have is 3 years of a cable bill.  I don't have an auto loan, I'll check out the installment loan idea.  I appreciate the advice i'll check those cards out and post back if I find out any info on my report!

Random question:  When they ask for income is it fair to put what i'm going to be making?  I don't start until June 26th.  

[SunriseEarth]

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@1992 wrote:

Just graduated college and will be starting a job soon, so i decided it's time to play the credit card rewards game instead of just using my check card everywhere. 

So i'm looking for the best cash rewards cards or combination of cards.  How many do you start with?  Will I be able to get approved?  My only credit history that I know of is the last 3 years i've paid my utilities and cable bill with my check card.  

My main expenses will be rent, gas, groceries, and restaurants/fast food.  

Pretty intrigued with using a BankAmericard Better Balance Rewards card to pay a cable bill each month to get $25 back a quarter.  

Just not really sure where to start.. Thanks for the direction. 

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Sounds like you'll need to build a history.   Did you take out SLs for college?  If so, those should be on your CRs.   I'd definitely recommend pulling all of your CRs so you can see if anything is on there.   (oops...looks like you did that already!)

[Creditaddict]

Yes, use your income that you will be making at new job.

Check on each site to see if you have any pre-qualifed offers for you:

chase.com

discovercard.com

capitalone.com

[dearppl]

Depending on your credit history, the three cards I would get are:

1) Sallie Mae Reward Mastercard - 5% on gas and 5% on grocery (purchase up to $250 every month for each category), and also 5% on Amazon (purchase up to $750 every month)

2) Bank of America Cash Reward - 3% on gas, 2% on grocery, and 1% on everything else. Good supplement to your Sallie Mae card.

If you will be having a 401(k) or IRA with Fidelity, it's a good idea to open an Amex Fidelity card, too. You will get 2% cash back on all your net purchase. 

[1992]

Unfortunately (or fortunately) no student loans for me.  

Creditaddict:  Thanks for that info.

dearppl:  I'll check those out.

Thanks for all the responses.  This site has a wealth of info glad I found it!

[Revelate]

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@dearppl wrote:

Depending on your credit history, the three cards I would get are:

1) Sallie Mae Reward Mastercard - 5% on gas and 5% on grocery (purchase up to $250 every month for each category), and also 5% on Amazon (purchase up to $750 every month)

2) Bank of America Cash Reward - 3% on gas, 2% on grocery, and 1% on everything else. Good supplement to your Sallie Mae card.

If you will be having a 401(k) or IRA with Fidelity, it's a good idea to open an Amex Fidelity card, too. You will get 2% cash back on all your net purchase. 

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The OP has a no file, those are all second or third round cards in some cases, not initial credit establishment typically.

[takeshi74]

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@1992 wrote:

Looks like a checking accounts and public utilities do not show up on credit reports, so all I have is 3 years of a cable bill.

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No, checking and utilities don't show up on credit reports since they're not credit.   Though utilities may pull your credit.  Are you sure your cable account actually reports or is there just a pull listed on your report?

If you don't have anything on your report the standard advice is look into secured cards and/or credit unions with more lax approval requirements.  You're going to have to build credit.

[1992]

Yep you're correct, cable doesn't report.  Well I really should've started this credit card game years ago.  Have to start somewhere I guess!

I'll research some credit union cards.  Thanks for that idea. 

Edit: BofA "prequalified" me for Cash Rewards Secured Card.  Does that really mean anything? I went ahead and applied.  

Discover also suggested I apply for the Discover IT.  Will I apply to much?  I guess when you have no score to hurt...