One of my relatives is just starting to build credit. I told her it was best to get a department store card first then apply for a credit card! Where do you suggest she apply first? Which stores should she apply first then which banks? thanx
RE: Building Credit,dept.store Kev: Most department stores require verification of an opened account with one of the four major credit card companies. I know this because I tried this at 18 when I first applied for credit. Nordstroms, Neiman Marcus, the May Dept. Stores, and Victoria Secrets all required a major credit card before accepting a store application. I would try her bank first for a either a Visa or Mastercard. Since she does not have any credit her credit line could be low probably bw/ $250-1000. But use the card for six months and make her payments on time and she should not have any problem establishing a credit line with a department store or another major credit card company. Good luck and happy new year. Dani PS Is she a college student by chance? Because almost all the major credit cards will probably accept her if she is. Discover, by far, is the easiest though.
RE: Building Credit,dept.store I have heard Target is pretty easy to get. Also, if there is a Kohl's store in your area, it is worth applying for their card as well. They have great merchandise at great prices. Customer service is excellent. Good luck!
I disagree Department stores were my first credit cards. I was declined by major creditors due to lack of credit history. After I had an established payment history on them, I was able to receive major credit cards. However, if you are applying for "instant credit" in the department store, then yes, a major credit card is needed. Apply online or pick up an application in the store and complete it manually.
RE: Building Credit,dept.store Kev, try http://www.fingerhut.com I think it is the easiest store to grant credit. Good luck and happy New Year!!
RE: Building Credit,dept.store Traditionally, the easiest cards to get are Fingerhut and Radio Shack. Some department stores are very difficult. Also worth trying are local department stores in your area, and jewelry stores. Be careful not to apply for too many all at once as this will place too many inquiries on your credit reports. Best of luck, and remember to never pay late! Kat http://creditexpert.tripod.com/credit.htm
RE: Building Credit,dept.store Fingerhut does not report to the credit bureaus so it doesn't really help you build credit history. Yes, they are easy to get.
I agree with Dani. I have been rebuilding credit for 3 years. You need a secured visa card that doesn't report as "secured. But it must report to the 3 CRA's. Try your credit union if you belong or check the messages here to find out which is the best secured card. After 6 - 12 months try for the quality department store cards. I used this strategy. It works. I would avoid fingerhut etc. You will just be buying junk.
RE: Building Credit,dept.store Thank you board, I will have her get a radio Shack card then Target, then try a credit card.Happy New Year!!!!
RE: Building Credit,dept.store My first credit card was JC Penney. Then I went to college and well that's all she wrote. Chase, Citibank, American Express. They all solicit college kids. It's pretty sad. I remember signing up for stuff just to get the freebies, or help someone out with their quota. They are all over campuses. The sad thing is, you actually end up with all those cards! Boy, was I naive. Kelly
RE: Building Credit,dept.store Don't be disapointed if you get denied! Although Target, and Hurley State Bank (issuer of Radio Shack) are liberal there not idiots. They will want to see something on a credit report! Best to start off with a Secured Card, and give it 6 months. Then get a Exxon or Mobil Card. After 3-4 more months your set!
