Need advice for first credit card

I would think more about what card you want to have forever.

My first card was a basic rewards card from Citi - I don't use it because it doesn't do anything for me.

Pick something popular that makes sense and that you'll want to keep using. The relationship you build with your first account will likely be the basis for others that you get.

I would probably apply for three cards and get all three if possible:
Chase Freedom
Citi Forward
Discover More

These three will be a great start and accounts that you'll likely want to keep forever. I suggest three because by the time you graduate, you'll have three trade lines with four years of positive history - you'll have a nice 725+ credit score and be an established borrower. Most banks look for 2 or three lines of history before they'll give you a mortgage, etc.


Edit:
For disclosure, I want to say that I also have a Discover. I don't use it because I find their customer service and customer support to be horrible. They didn't side with me in a fraud case over a $50 purchase. It was obvious that it wasn't me and I responded to the transaction before the day was over that it posted. I would close the card and never do business with them again if it wouldn't hurt my average age of open accounts. I said the Discover More because you mentioned Discover - but if you can find another alternative, I might go with that. Maybe a Capital One card (also bad service, but better benefits than Discover).

Most rewards cards will not accept you with 0 credit. Go for ones geared for students. My first card was a generic citi card and then discover card.

I have seen MANY people get the Freedom card as their first credit card.
They start with a $500 limit, but they get the account.

In my experience, young and no credit is easier than older and no credit.

They usually going to decline your credit card because you have no credit.
1. Know what you apply for.
2. Its too early for you to think about those reward cards just yet.
3. Your first credit card very important because its might stay with you for another 6 or 10 years ( because its your first card and i mite be your most important cards).
Number one thing is you need to go for some card with no annual fees and """willing "" to accept your apps which not much out there because you have nothing on file and as a young student.

Well my advice is you need to go to your local bank who you have a relationship with ( who you bank with ) hope you have an account with them for more than 6 months. Tell them what you need and explain to them that you are student and need to establish your first credit card. Im sure hey willing to offer you some cards that fit your need and good luck with that.
Ps: remember 30% rule. Only using 30% of your credit limit every months. Yeah i mean only 30%. 300/ 1000 limit. Hope its help

Here the link :
http://credit.about.com/od/buildi...Credit.htm
Hope you find it interesting for your building process.

While I dislike Capital One and their credit cards, there is almost no way you can be denied for the Journey Student Rewards card.

Quote from Schuyler : heading off to college, and decided to get a credit card. Most purchases are online when things are on sale. Otherwise, purchases are mainly food (fast food and groceries), and daily necessities. Cap1 Journey Visa (general-purpose card) Very easy approval 1.25% cash back on everything No annual fee Zero foreign-transaction fees (could come in handy if you were to study abroad for a semester, or wanted to gamble online) http://www.capitalone.com/creditc..._CP41410AW Citi Forward Visa (fast food/Amazon/back-up general-purpose card) Fairly easy approval 5 ThankYou Points for every $1 spent on purchases at restaurants (including fast food), & bookstores (including Amazon). 1 point per $1 on all other purchases No annual fee https://creditcards.citi.com/cred...-students/ Discover More (online, sometimes for groceries/daily necessities) Fairly easy approval 5% back on rotating categories 5-20% back through Shop Discover No annual fee BUT only 0.25% back on the first $3k in purchases outside of rotating categories/Shop Discover https://www.discover.com/credit-c...dent-card/ Target Store Card (online/groceries/daily necessities) Easy approval Card members get 5% off (including groceries @ Super Target) & free shipping @ Target.com No annual fee http://www.target.com/redcard/application Kohl's Store Card (online) Easy approval Card members get frequent discounts (15-30%) & free shipping (go to Hot Deals for promotional codes) No annual fee http://www.kohls.com/kohlsStore/o...charge.jsp

.....

Thanks to everyone for the advice. Formless, I think I will take your advice and sign up for 2-3 cards. I'll be sorting through all the suggested cards to night, and i'll post back with what I end up doing. Thanks again for all the help everyone!

Woohoo!

Instadebt!

i would wait until you arrive at college or they will turn you down for no credit history are you over 21

http://www.cbsnews.com/8301-50514...ard-myths/



http://www.consumer-action.org/ra...marketing/

http://www.usatoday.com/money/per...lege_N.htm

Quote from Schuyler : Thanks to everyone for the advice. Formless, I think I will take your advice and sign up for 2-3 cards. I'll be sorting through all the suggested cards to night, and i'll post back with what I end up doing. Thanks again for all the help everyone!

I was lucky in the fact that my father started me off with a joint credit card at 16. That helped me attain a credit card when I wanted to get my own.

I eventually got the Chase Freedom. To me, it's the best no annual fee rewards card out there. At the time, the 5% back on gas and fast food was incredible. They've scaled it back a little bit, but you still get 5% back on gas 6 months a year.

If I were you, I wouldn't go with a Discover as a first (and only) card. You want a card that is universally accepted, so VISA or MC is a must.

I was looking yesterday, and CITI offers this card called the Forward card (also available in a student card version that is likely easier to get). It offers 5% back on entertainment, Bookstores (including Amazon), and restaurants (including fast food).

They will likely start you out at 300-500, but the credit limit increases are easy and generous apparently. That is what I would recommend for you. I won't lechture you on the uses, but learn how to manage credit and don't max out your cards.

P.S. I see that you are planning on getting 2 or 3. Applying for all those at once is bad for your credit. It also is probably tough to get with not that much credit history. Start out with 1, then grab a couple more over time so you can take advantage of 0% intro APRs and different rewards based on what you spend your money on.

Quote from aznnp77 : I was lucky in the fact that my father started me off with a joint credit card at 16. That helped me attain a credit card when I wanted to get my own. I eventually got the Chase Freedom. To me, it's the best no annual fee rewards card out there. At the time, the 5% back on gas and fast food was incredible. They've scaled it back a little bit, but you still get 5% back on gas 6 months a year. If I were you, I wouldn't go with a Discover as a first (and only) card. You want a card that is universally accepted, so VISA or MC is a must. I was looking yesterday, and CITI offers this card called the Forward card (also available in a student card version that is likely easier to get). It offers 5% back on entertainment, Bookstores (including Amazon), and restaurants (including fast food). They will likely start you out at 300-500, but the credit limit increases are easy and generous apparently. That is what I would recommend for you. I won't lechture you on the uses, but learn how to manage credit and don't max out your cards. P.S. I see that you are planning on getting 2 or 3. Applying for all those at once is bad for your credit. It also is probably tough to get with not that much credit history. Start out with 1, then grab a couple more over time so you can take advantage of 0% intro APRs and different rewards based on what you spend your money on.

Actually, hard credit inquiries don't show up for a week or so on your credit report. If you want multiple cards submit the applications at the same time (same day). Your FICO score however will take a hit for the next six months, so if you need to take out a loan this is probably not a great idea.

To the OP, its very likely that you'll get rejected due to a lack of credit history. Apply for the Capital One card, and if your application gets rejected there is no point in ruining your credit score further. It's the easiest card to get.

Quote from HisExcellency : Actually, hard credit inquiries don't show up for a week or so on your credit report. If you want multiple cards submit the applications at the same time (same day). Your FICO score however will take a hit for the next six months, so if you need to take out a loan this is probably not a great idea. To the OP, its very likely that you'll get rejected due to a lack of credit history. Apply for the Capital One card, and if your application gets rejected there is no point in ruining your credit score further. It's the easiest card to get.

When all the hard inquiries hit, it will look bad on a credit report. It shows a slight desperation for money, or so I've read.

Yes, indeed my first credit card was a capital one. When I was 16 they started me off with a $1000 credit line. Somewhere between ages 18-20 they raised me to $2000. I've been pretty unhappy with the card since then though.

I've asked multiple times for a credit line increase and have been declined. I've also asked for a drop in APR and have been denied as well. The interest rate was 19.99% when I first got the card, which is perfectly acceptable for a 16 year old, but after 10+ years of good history, I find it insulting that they refuse to increase my rate or drop my APR. FWIW, my credit score according to credit karma FAKO is 769.

I just keep the Capital One Card open for the history, but I never use it anymore except a few purchases to keep it active.