By getting such a card you accomplish two things. First you get a credit card without needing any credit history. But more important, you begin establishing credit history. Just be certain to never exceed your credit limit, and never be late on any payment. Late payments are like pouring a bucket of cold water on your credit report and score. On time payment history accounts for over 33 percent of your credit score and so you always want to insure timely payments. By the way, some banks automatically issue an unsecured card after a select period of on time payment.
- I'm a 22-year-old female who makes about $1,000 a month. I have a credit union credit card with credit line of $500. I recently applied for a Lowe's credit card and was denied. I'm always on time with my credit card payments. What would be the reason?
- Can I include my spouse's income on a credit card application?
- I am an 18-year-old with no credit history. I have read Curtis Arnold's book and am successfully paying my community college tuition on my own. Which card is best suited for me when I only plan on using my future card for gas purchases?
- Are Discover Card credit cards any good?
- Which bank offers the best debit card?
- Is a credit score of 725 considered good?
- Why do you rate American Express credit requirements as "good credit" to secure a card? I thought to qualify for an American Express card you have to have excellent credit.
- Supposing you have a perfect credit score of 800 or better; which credit card offers the highest credit limits?