I am trying to help my brother-in-law (of whom I am legal guardian of) establish credit. He is 19, starting college and has no credit history whatsoever. I am wondering what would be the best way to get him some credit established. He has a checking and savings account at Wells Fargo Bank and they offer a student VISA. I don't know whether or not he can qualify for this with no credit history. Does anyone know what the credit requirements are for student cards? Do they pretty much approve all students (without any negative credit, of course)? What kind of limits do these cards start with? I think he should apply but don't want to waste the inquiry if he won't have a chance of getting approved. We are trying to do this without having to go the secured card route. Do you think this is possible?
AMEX, Citibank and Chase are reputable companies. All of them offer student credit cards. He'll probably be flooded with offers when he starts classes. I remember going to the bookstore and receiving at least 5 credit card applications in the bag, not to mention the vultures, ummm, I mean credit card reps and their little tables on campus offering free t-shirts and crap. LOL
