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/biz/ - Business & Finance

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9753059 No.9753059 [Reply] [Original]

how do i get my first credit card ? every time i apply i get turned down for not having a credit score. what is a good first card that approves easily ? employed. early twenties. checking account with debit card. savings account. live with my cousin. bought my truck used for cash.

>> No.9753095

>>9753059
Google secured credit card. You put down $200 as a limit to use. Once the banks trusts you with your own money, they will lend you theirs.

>> No.9753133

>>9753095
no way to get unsecured card with no credit score ?

>> No.9753182

>>9753133
Try applying for a capital one secured credit card. Limit is $200 for first few months. They will required you to pay anywhere from $50 to $200 as collateral.

>> No.9753185

>>9753133
best bet would be to try a store card

>> No.9753194

Toys r Us credit card should be your first

>> No.9753204

Revolut credit

Or vanquis if britbong. Might be international actually

>> No.9753317

>>9753182
This, dude.
Started with 490 credit starting in 2015. They asked for 50 bucks and gave me 200 limit.
Spend around 9% monthly on shit you're going to pay off anyway, or whatever, just pay it off on time, EVERY time and you'll shoot up fast. Coupled with smart spending habits, you're also going to rack up free points and shit if you sign up for an unsecured card after they approve you in the future.

>> No.9753434

Blows my mind how fucking retarded some /biz/tards are when it comes to credit.

Just get a card with a low limit by walking into any bank and telling them you're looking for a credit card. Take whatever they give you, and make sure you pay it off in full every month, ideally you will pay it off immediately after making the purchase.

This will begin building up your credit slowly, and as the bank starts to trust you more (it's all automated) your credit will start to get higher and higher. Before you know you'll have a $5k credit line easily. You can start a business with that.

>> No.9753484

Once your credit score goes up, pick a credit card that will give you cash back (or travel points if you fly a lot). If you choose a cash back card (they're usually 2%) cash back AND you pay it back before the credit card company hits you with interest, they are literally PAYING YOU to use their credit card. You get the ease of use that comes with a credit card, and they pay you for it.

Spend $50k on your credit card every year, and you're getting back $1000 cash from the credit card company. Without ever paying any interest.

>> No.9753491

Kohl's

>> No.9753502

>>9753484
>>9753434
One thing to note is credit utilization. If you are constantly maxing out your card, even if you pay it off immediately, it will drop your score.

>> No.9753508

>>9753502
>constantly maxing out your card

I mean coming close or even halfway. I was paying rent along with buying groceries with it my first time. Paid off nearly an hour later online. Credit score drops 70 points.

>> No.9753557

>>9753502
That is bullshit. Balances are only reported to the credit bureaus once a month. It isn't realtime, you idiot. Source: I worked as a consumer loan underwriter for 4 years.

>> No.9753563

>>9753434
>You can start a business with that.
Starting a business with a 20%+ loan? lol. If you cant even afford $5k, you shouldn't be starting a business.

>> No.9753586

>>9753484
Travel points are only worth it if you use them to fly first class. Redemption comes out to ~5--6% back, but you have to spend a lot to be able to do it. On economy it is closer to 1%. Most people should just opt for cash back.

>> No.9753978

>>9753059
Over pay your bills so they always owe you $1. This gets notice and messes with system. It will work