I want to get a credit card...help.

**Sari** · 04-11-2007, 04:33 PM

Just checked my credit score, and according to Experian, one of the reasons it's low (681) is because I don't have a revolving item, like a credit card. I've been wanting to get one in case of emergency, so maybe this is as good a time as any. I don't want to get a high balance card right now. Where's a good place to start?

**wanderlusting** · 04-11-2007, 04:41 PM

Capital One is a good beginner credit card. Just be sure to pay it off each month because the interest rates can be high.

**guest56464** · 04-11-2007, 04:49 PM

To help rebuild my credit I got a Chase Amazon card. I love amazon.com.

Yes, I know.... Chase is notorious for high interest... but I have a decent credit limit and I order one book from my wishlist every month. Then when I get the bill (which is usually only $4.-$10.) I pay it off online and do it all over again.

I've done this for almost 6 months and it has helped my credit score tremendously. I have to be sure that I don't use it for anything other than one book a month from amazon because that card is specifically for emergencies.

....although an emergency savings fund would be better. =D

**FrugalMomof3** · 04-11-2007, 06:34 PM

I would recommend either Captial One or Orchard Bank. They are great cards. I started with both of them.

**Darlene** · 04-11-2007, 08:19 PM

I love my Discover Card. I pay it off in full every month and it earns me money. My dd (student) has this as her first card.

**McD** · 04-11-2007, 08:29 PM

You might check with your bank to see if they offer one. If they do, they can get you set up. I have two VISAs, and a bunch of store cards. I do not recommend getting store cards. To build up your credit, you will actually need to use your credit card. For example, put one tank of gas a month on your card and pay it in full every month. By the way, 681, isn't that bad at all. I've seen low 400s and 350s.

**starsapphire** · 04-11-2007, 09:02 PM

There is a problem with Capital One. They Do Not put your actual credit limit on your credit report. They only put your 'high balance' which is the highest amount you have ever charged on it. So if at most you ever charge is $100, that will be considered your "credit limit" on that card, even if your actual credit limit is $2000.

It's not a problem if you're a Dave Ramseyite, but if not it could potentially cause problems down the road if you care about FICO.

**FrugalMomof3** · 04-11-2007, 09:11 PM

That's true about C1, I would try Orchard Bank or even Discover (I have both - just dont use them) but want to try charging like $20 each month for gas and then paying it off asap, doing this for a few months will boost your credit score. Mine is currently at 776.

**acidcookie** · 04-11-2007, 10:50 PM

My first card was from my bank for just $400. Shortly after, I got a Capital One card. Mine didn't come with a particularly high interest rate: 8.9%. If you have the discipline you may as well go for a rewards card like the Amazon card or a Chase freedom card and get some bonuses back for the things you buy. Interest rate shouldn't matter because you'll be paying it off in full each month, right?

**Sari** · 04-12-2007, 09:46 AM

Thanks for the advice. I applied for one from my credit union and they denied me! I am not sure if I should try to apply elsewhere or just save up some more money to get a secured card.

**Sari** · 05-10-2007, 09:13 AM

Just wanted to update I received a Capital One card. There is an annual fee, and interest rate is around 16%, BUT I plan to either re-negotiate or get a new card before it's time to pay the annual fee, and I plan to just use the card for gas and pay it off every month. Here's hoping...

I do feel better now that I have a little something available in case of an emergency (other than my EF that is). Right now I have a $300 limit but if I use my card every month and make payments on time, after 3 months they will raise it to $500. I don't necessarily want to spend more money, but I figure that will look good on my credit report, right?

**pkellyc** · 05-10-2007, 09:26 AM

Try bankrate.com they have a little questionaire there that will help you determine the best card for you.

DD#1 who is 21 has a student card with no intrest that worked perfectly for her.
DD#2 does not have one and is having a hard time getting one. She may need to get a secured card also. I am not pushing it for her she already has a hard time with her checking account. I figure the best way to help her is not to.

**island_fever** · 06-06-2007, 08:01 AM

Do they turn you down if you've had a bankruptcy?

**Telephus44** · 06-07-2007, 10:07 PM

I like Capitol One. I've had good customer service experiences with them. As long as you've paid on time, when the bill for the annual fee comes, just call them and ask them to waive it - they probably will.