Applying for a Credit Card
Hi Terry,
My goal is to obtain a credit card and start building my credit.
MY FACTS:
24 years old
Bachelor’s degree
Full-time public school teacher for 2 1/2+ years
Part-time tutor
Paid off my student loans
Living with parents
All bills are paid to date
Purchased and own my vehicle
Never had a credit card, only debit
Money is placed in both a savings and checking account
I have been denied by Discover and the National Education Association. The reasons they gave are insufficient number of satisfactory trades, insufficient open accounts, and insufficient history of auto trades.
Where do you suggest I apply? I appreciate your time. Thank you!
Terry Says
You need a “secured card” — where you make a deposit in a bank savings account, and that becomes your credit limit. The bank gives you a regular Visa or MasterCard. You charge every month — and pay off the balance IN FULL and ON TIME. That will build your credit history — and soon you’ll have other offers.
Read this to find those cards: https://www.bankrate.com/credit-cards/building-credit/best-secured-cards-graduate-unsecured/
