I am 1 year out of college and have never had a credit card. I want to start building credit and I would like advice on a decent 1st card (that will approve me). I have just been declined for a First USA visa and am concerned about getting too many inquiries on my credit report, so I figured I should I should not just apply to any and all cards. My rating on www.worthknowing.com is 47(good) (my name is on my wife's Circuit City card, but that is where my credit history ends). I have had the same good job for 1 year and will pay my bill in full each month. Any help is appreciated. btw, am I correct in thinking that anytime I would want to look at an updated view of my credit report on a service such as worthknowing.com, it will add an inquiry to my report? thanks in advance
RE: Best card(s) to start buil Hi: Here's a free list of credit cards for someone with no credit history or credit problems: http://www.Creditinsiders.com/thelist From my own personal experience I highly recommend Capital One. Now as far as Your other question... Yes, there's an inquiry entered every time you order your credit report, It really doesnt affect you though, after all It's your LEGAL right to review your credit reports!! But dont over do it. The ones that affect you the most are when you apply for a credit card and a creditor checks your credit report, this is known as a HARD inquiry, these include loan applications, car loan applications or any other loan applications, among others so you dont want to have too many of these. Take care of your credit my friend! It's one of the most important things in your everyday life. It seems that you're in the right path though, best of luck to you!! Regards, Alex www.Creditinsiders.com
RE: Best card(s) to start buil I'll concur on capitalone secured. $99 for $500 line of credit, superb customer service. After you have that , get a Providian/Aria.com (or get that now too, if they approve you). Pros: Aria gives increases like candy. Capitalone secured is easiest to get. Cons: Capitalone is stingy on increases. Aria charges phenomenal first time fees/interest/no grace. Both are excellent credit builders, and in less than a year you'll have platinum with no other bad credit.
RE: Best card(s) to start buil Thanks for everyone's input. Can I (or should I) look at applying for a College Student CC? (I am actually still taking some masters classes). I have heard that it is easier to be approved for these. I don't need a high initial credit limit, and I would prefer no annual fee.
RE: Best card(s) to start buil You shouldn't go for a Capital one card if ya can help it. Get a card from Citibank. Their cards are fairly easy to get and they are a good bank. I am very happy with their customer service and Citibank is considered a top issuer. They take care of their customers. Oh you can also try to get a student card from Citibank or MBNA, since ya mentioned that you are still a student. Doesn't hurt to ask. I will give ya the customer service numbers for Citibank and MBNA so ya can go from there Citibank 1-800-951-5114 MBNA 1-800-421-2110 Good luck
RE: Best card(s) to start buil Well don't evn think about being denied by First Usa, they are a bunch of boobs anyway be glad you got turned down. Now I know others have suggested SECURED cards, but I too was just budling my credit last year, the only tradeline I had was an installmeny plan with a furniture company and that's it. The first card I received was the Aria card from providian and platinum no less, so in my experience unless you have negatives which don't appear to be the case I would try to get a regular card as opposed to a secured if possible. Others may disagree but when I started out I never applied for secured and did get some decent cards to start with. But be careful with how many times you apply, inquires will kill you. I suggest to apply for one card and if you get pay and keep in good standing and then you will receive offers, that is how it worked for me.
