Credit Card Application Question?

6 Comment(s)

1. Yep, the more you request one, the more inquiries on your record, not good….you only need one being 18, unless you plan to use up the credit and running off, don’t it does not pay in the long run

   Kris D | Aug 19, 2009 | Reply

2. Your best bet is a secured credit card. It will control your spending. Do NOT apply for a bunch of cards. That looks very bad to have all those inquiries.

   Andrea | Aug 22, 2009 | Reply

3. Try saving at least $100, then go to Wells Fargo and open a College/Student account, and they offer you a Visa credit card and debit card with the opening of it. You’re 18, so you can do it alone, and they are really informative if you ask them questions. I love them. Anyway, when you get the card, don’t use it for awhile, but after a month or so, start using it for small necessities (I use mine for gas), and pay off the balance in full each month. Thus make sure you only use on the card what you have in the bank to pay. Or you could use all those “pre-approved” credit cards that come in the mail, but only from establish banks, like Chase or Wachovia, but make sure you read the fine print, and obey the same rules. Technically, you only need 2 credit cards to boost your credit card, and don’t charge two much on it. Good luck. Not more than two to start off with. Applying for more credit will actually hurt your score. Good luck! And make sure you have a savings to fall back on, not just your credit cards. Oh, and always check your balances online if possible or keep a notebook, so you can see if there are any charges on your record you didn’t make, to make sure identity theft isn’t a problem. I suggest checking it every day or every other day, but only if you have antivirus/antispyware software on your computer. Good luck and best wishes. Now I’m actually done.

   butterfly420? | Aug 26, 2009 | Reply

4. Here is your solution.

   Open a checking account. Make sure that they will offer you a debit card with the Visa logo on it.

   Now, banks make on average almost $300 off a customer on average a year in overdraft fees and NSF fees. Mostly from poor people that keep low balances. Do not fall in this trap.

   Remember also, that Visa/ATM card will let you go over the amount you have in the checking. Each time you go over it is a $35 fee every 7 days for each transaction. Just like regular credit cards will let you go over, but regular cards only charge you $39 for going over once per month.

   Once you establish credit. Throw the bank’s credit/debit card away, and use a regular credit card. Local banks are scam artists, but you’re going to need them.
   Be careful.

   Judy | Aug 27, 2009 | Reply

5. If you apply for one card, and get turned down, you will get turned down by them all. The hard inquiry will cost you credit score points, and will stay on your reports for 2 years.

   If you have no credit history, and no unpaid bills that might show up on your credit report, the easiest card to get is American Eagle, or Kay’s Jewelers.
   You have to build credit slowly. Once you get one card, you use it and pay it off. Then, since you’ve shown you are responsible, the next lender will likely give you a card with a higher limit.
   If you really don’t know how credit works, I recommend this website. It’s a free education!

   latebreakfast | Aug 27, 2009 | Reply

6. All the answers are true, when I turned 18 and was going to college my parents made me do research on how to be responsible with my credit and credit cards. The inquires do hurt you and do stay on your report for 2 years and applying for a bunch would truly be horrific. I only have one and thinking of getting another to build my credit. There are places that do have credit cards just for us college students, it’s where I got mine. Again take your time and use credit wisely.

   texas.sweethrt | Aug 30, 2009 | Reply

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