Ask Terry Questions Credit Card

Credit Card

By Terry Savage on December 17, 2013 | Credit/Debt

Hi Terry, I need to obtain some advice. I’m in my late 20’s and trying to establish credit. I currently have a Mastercard with a $300 limit which I’ve had for close to two years and have never missed a payment. I always pay in full too. I’m having a hard time applying for different credit cards because they say I don’t have enough established credit. Is there a specific credit card you would suggest with decently low APR and no fees?

Terry Says:  Go to and look at “secured cards” — Those are credit cards — regular VISA and Mastercards — that you open by establishing a savings account with the bank that offers the card. The amount of your savings account is your line of credit on the card.  Then charge a little every month, pay it off on time, and in full.  And pretty soon you will have two, or three, cards reflecting your good payment habits.  That should do it.  You’ll start receiving offers for regular VISA and MC cards.



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