clickwir

Ok. I can see this being a hot topic... but I'm a credit card virgin. I need some suggestions on a first card to get. I am looking on getting a good credit rating going and plan to make payments quickly, on time, and to pay off as quickly as possible.

I've talked to some friends and looked at some websites... CitiBank seems to have a nice offering... Capital One has a nice one or so... but since I'm new to this... I probably won't be able to get one of the nice cards right? I'm probably going to be forced to get some crappy APR and probably pay a deposit and service charges out the ass... right? Suggestions for a first CC?

h:

randomtask77

Get a card that has no annual fee. That was the main thing that I looked for when I first got a CC.

b00gers

just look at all the big banks....citi, capitalone, chase.....

you shouldnt even have to consider their APR because you should be able to pay it off in the first month. otherwise, save up till you can. I CANT STRESS IT MORE. people told me the same thing when i got my first CC, it went in one ear, out the other. ive been in debt since.

then you can also look at cards that gives you rewards points and cash back on purchases.

my chase card gives me $10 to toys R us for every $1000 i spend :exnbp:

clickwir

I'm so dumb when it comes to this. So lets say I buy something on the CC for $45. If I pay that $45 off before the next month/billing then that's all I have to pay... no extra %'s?

b00gers

no. you dont have to pay ANY interest if you can pay it all off within that period.

clickwir

oh well that's good to know.

I won't know for sure till I read more of the details and probably call... but how about deposits or serivce fees or something since it's my first?

PHiZ

That's called a grace period, also I've always heard semi-nasty things about capital-one, but maybe that is because they are the main bank to extend cards to younger/new credit people.

My student loans are what really established credit for me.

People say that macy's, jc-pennys, jewelers cards, establish credit, and I dont' believe that's true. Definitly get something with a brand-name logo.

Cell-phone companies also do not do *positive* reports, but they sure will slam you if they have to write off your account.

Also, *DON'T* apply for alot of things that require credit checks, credit checks hurt your overall credi-worthiness, it's ****ing asinine, but it's true.

so, jobs that do credit checks, cell phones, apartments, jc pennys, whatever, keep it to a minimum.

If you ran credit with sprint or verizon or AT&T one place, it is going to be the same with that carrier no matter WHERE.

Maybe an auto load? Seeing as this is a car board.

It's a confusing as hell world, I worked in a verizon corporate cell-phone store, so I ran alot of credit apps, so I got a perspective on things early, and took impecable care of my credit.

I'm sure some great credit card sites have come up to help you understand things, do a search on google.

GOOD LUCK!!!

-PHiZ

clickwir

Someone mentioned that even getting a small loan from a bank can help establish credit. Any truth in that?

I wouldn't mind getting a small loan for $500-1000 if it'll help get me started.

b00gers

there are cards that have NO fees if you pay within the grace period. when you do things like balance transfer, cash advances...then you should really read the fine print.

axemansean

Get Discover... they have cashback on almost everything. If you use your card right its a great asset. I only buy stuff that I can pay back in full by the due date.