The only credit type thing I have is my cell phone. And I want a credit card to help establish my credit, but I don't want to apply for a bunch and be getting denied.|||Your cell phone contract does not show up on your credit report at all.
They may have checked your credit to see whether you have a high enough credit score to qualify for the cell phone plan but it is not a line of credit that is recorded on your credit report.
The best way to get a good deal on a credit card is to talk to your bank. They can evaluate you better since you have checking (and hopefully well maintained savings) accounts with them.|||you can get online (sadly there is usually a $75 start up fee) look for credit cards for pple w no credit. you'd get something along the lines of a $200 or less limit. use it a few times a month (like a pack of gum or fill up your gas tank once a month with it). as a general rule, you shoudl pay the balance off every month to avoid finance charges. however, every three or four months, leave a balance on your card of say, ten bucks. you will accrue a dollar or so finance charge, but this is not a bad thing! (in the banking business the people who never let any f/c accrue, are looked down upon, we call them "transactors".. bc we dont make any money off of them). but never let the balance get up on your card over like, $100 without paying it off. you'll pay more in finance charges then.|||I would apply for a little credit card meaning like a gas card, if you have a car. If not, the first card that i had was capital one. they start u off with a low amount then they gradually increase ur spending limit. Try not to apply to many credit cards because it lowers your credit score every time they look at it. Good luck.|||there are a couple of ways you could start building credit, you could get a small personal loan which you might need a cosigner or the best way will be getting a credit cards, you could get a credit card and use it for your every day expenses but make sure you pay in full at the end of the month that way it will show pay in full everytime the credit card company reports to the credit beuros. At the begining you will only be approved for the lower end credit cards but once you build credit in about 6-9 months you should be able to apply for a better card with better benefits such as free miles or cash back. Check out www.fastcreditcardapprovals.com and go under bad or no credit section and you will find a few choices. But if you are a student apply of a student credit card these cards have no annual fees and low rates.|||Great question! You sound like a very intelligent person who is trying to stay on top of their finances,
The funny thing about credit scores is that they are all based on having to constantly deal with debt. Financial expert Dave Ramsey affectionately refers to the credit score as an "I Love Debt Score". Have you noticed how many Americans are struggling with debt now a days? Save your money and pay cash for everything.
For more great information, check out these two great links!! Yuo will get some great information in these videos that you probably won't find anywhere else. Good luck with your financial future!
http://www.cbsnews.com/stories/2005/10/1鈥?/a>
http://www.youtube.com/watch?v=iIgLyl66Q鈥?/a>|||Many of these answers are very good, I would just add that, more important that WHAT credit card to get, is how to use it. If this will be your first card, I would suggest that you "piggyback" if you know someone with good credit (see tip #4 below).
Things you can do to boost your credit:
1) Get your current credit score:
Before you can boost your credit, it helps to know what it is. If you don't have any reason to belive you credit is bad, you could skip this for now, but it's good information to have. Head over to myfico.com to order it for about $16. This score is based on your report from any of the bureaus. Remember that over checking your score can lower it slightly, if you think there might be an error with your score, see #6 on this list.
2) Gradually Pay:
Gradually paying off your debt can boost your score substantially. Also, ask your card issuer for a credit-line increase, if you get an increase but don't spend more, this will modestly boost your credit score.
3) Don't be late:
Even if you can only afford the minimum, pay your bill on time, a late payment is very detrimental to your score. One skipped payment can knock 100 points off your score! It is a lot harder to get it back up afterwards. To keep on top of your bill, it's wise to track your credit account online and send in a check before the card's cycle ends. Some unscrupulous companies send your bill very near the due date, hoping you will be late so they can tack on fees.
4) Piggyback on better credit:
If your husband or parent has great credit (and trusts you) ask them to make you an authorized user on their credit card. Authorized users don't share the liability for the debt, but the positive payment history gets factored into their score. Also, you will benefit from a boost in available credit.
5) Curb your credit cravings:
When applying for a new card, you're intending to take on new debt. This can raise your risk as a borrower, and can cause a 5 to 10 point drop in your score. Wait a few months before applying for a loan after a new card, to show your responsibility.
6) Remove errors:
Your credit report affects your credit score. Up to 80% of reports have one error. You can get a free report annually from all three of the credit bureaus. Pulling a different one every 4 months can help keep errors in check. Visit annualcreditreport.com for your free reports. If you find any mistakes, send bureaus the correct information.
6) Don't become plastic shy:
Going "cash only" won't improve your score. Only by continuous responsible usage can your score improve. If you hit your limit, your score can drop 30 points in one month, but if you keep your balance below 10% of the limit, you can restore your score.
I hope this helps, I am soon applying for my first credit card, but I am very seriously researching the subject and this is what I've come up with. I find my best resource has been "Personal Finance for Dummies", I love this book and how easy it is to understand. To get a copy go to http://www.amazon.com/Personal-Finance-D鈥?/a>
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