My cousin has no credit, she's 22. What (besides like Cap 1) are good cards to get? I guess the better question is who will issue with no real credit? When I was in college they offered me a lot. Would they require her to send copies of her transcripts?
I think the best route is the small, $300 to $500 Visa or MasterCard from a credit union. That gets the history started, and then preapproved offers for other cards will come soon: gas cards, Citibank, etc. But she will need to apply on her own for a retail card like Target or some department store. They rarely send out offers in the mail, preferring to focus on in-store customers.
As far as college cards go, I think they would be a great way to start a credit history, but they won't give meaningful amounts of credit for years. Something like a Chase college card, where the growth potrential is limited anyway, might be a good place to start. Citibank is too good to waste on a college card. Applying as a working adult would yield better results. College cards are a GREAT way to get started with Optima or AmEx Green. .
I remember that some applications for students required a copy of a college ID, or a copy of a current tuition receipt or class schedule. But never a transcript.
