First Time Credit Card Requirements
by: Tom Tessin

So, you’ve come to this page because you’re looking for your first credit card. The trouble is how do you get one when you haven’t even established credit yet? Like most questions in life, once you find the answer, the question doesn’t seem that tough anymore. Sit with us while we show you step by step on how you can get your very first credit card.

 

Know what type you can get

The first thing you need to do is look at your demographic. If you’re 35 and you haven’t applied for a credit card in your life, it’s going to be a lot tougher for you to sign up for a card compared to say, an 18 year old who just graduated high school. Once you look at yourself and figure out your age, you can take the next step.

 

Looking for a credit card

A majority of the time, a first time credit card applier is someone in their early teens, early twenties. If you’re falling into this category, you’re going to have an easier time getting a credit card. What a lot of young adults don’t realize when they are applying for a credit card is that they can be eligible for a student credit card. Even if you’re not going to college full time, you can still apply for a student credit card.

 

The nice thing about a student credit card is that they are designed for students looking to build their credit rating. A young adult going to college is technically “more responsible” than a young adult not going to college at all. This is exactly how the credit card companies look at picture. The only down fall on your first credit card is that you’re going to notice that you’re going to get a high rate and low credit limit. This is because you haven’t established credit in the industry yet. Once you establish credit, your rates will gradually lower, while your credit limit grows higher.

 

Know what you want

Now that you know that you can apply for a student credit card, your next step is too look for a credit card that fits your needs. It’s highly recommended that you apply for a credit card that has rewards tied in with it. Even though you can take the route and get a credit card that has no rewards, it’s a lot better to get a credit card that gives you something for your money.

 

Apply!

When you finally sit down and decide what kind of credit card you want, it’s now time to send the credit card company your information. A lot of the times you won’t receive an instant approval notice. Instead you’ll have to wait a few weeks for your response. Your response generally comes in the mail and/or via the phone.

 

If you’ve read all of this and tell yourself, “wow, that’s great but I’m not a student anymore or never was!” you’re still in luck. We highly recommend that you check out Capital One’s line of credit cards. They have a very high approval rate for people looking to establish credit for the first time. If all else fails, ask around and see where your friends and relatives got their first card. If that card is still around, apply and wait.

Credit Report Scores
Below is a chart of credit report scores. Credit report scores are important when it comes to applying for a credit card. To find out what your credit report score is, please click on the link below.
Great Credit
750-850
Good Credit
660-749
Fair Credit
620-659
Poor Credit
350-619
No Credit
0
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