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…Not having credit history how hard is it to apply for a credit card and what are some of the interest rates I will be charged being a first time credit card owner?
Answer: When I was in your situation I applied for several credit cards and was declined by all. Eventually I heard about secured credit cards, applied for one and received the card in a week. A secured credit card has a limit which is usually equal to a deposit that you make. Also, even though you are basically using your own money, the credit card company will still charge you interest if you don’t pay the whole balance at the end of the billing cycle. If you can’t get the deposit for a secured card you can always try CapitalOne. They tend to approve anyone for their $250 limit credit cards.
More questions:
- Can my husband and I give one of our credit cards to our daughter to use for a limited amount of time?
- Does it affect your credit score when a credit card company closes your account?
- How do you deal with credit card debt?
- How much do you pay each month for a credit card?
- I have like 8 active credit cards and 1 charge card
- I have two credit cards and I am unable to pay off the balance. What do I do?
- What are some hidden fees which occur when transfering a balance?
- What are some ways to start building good credit?
- What are things you should consider when deciding which credit card to apply for?
- What is the best offer you’ve seen for a rewards credit card for business?
- When applying for a credit card, is it advisable to close credit card accounts