You don't say if you're a student, but if you are and you can get a parent to co-sign, but since you're only 18 and this is probably your first credit card, I recommend starting out with a secured card. With a secured card, you place a deposit in a savings account, and then that amount, less any fees, is your credit limit. You don't need any credit history and if you choose a secured card that reports to the credit bureaus, you can use it to build a good credit score. I recommend you pay off the balance every month. Use a secured card as a tool to build a credit history so you can qualify for an unsecured card in the future. Building a good credit history can also help you qualify to rent an apartment and even get better rates on car insurance. Be sure to read all the fine print to review terms and conditions and any fees associated with the offer before you apply.
- Can you tell me what the best card on the market is right now?
- So, I am about to turn 18. I may need about $100 or so each month to cover the remainder of my rent. What type of card should I be looking to get?
- I am 24, I work full time, I have never had a credit card. I want a credit card that will have no annual fee and give me rewards back.