Guide: How to Get Your First Credit Card (2017)

4/10/2017

So you’re interested in getting approved for your first credit card? There are many things you need to know, but it’ll give you the run down:

  1. Do you have a Social Security Number (SSN)? If not, this guide is not for you. I will provide you one in the future.
  2. Check to see if you have a credit score, I recommend: CreditKarma
  3. If so, skip to the next paragraph… If not, do you have a checking account?
  4. If so, skip to the next paragraph… If not, I would recommend opening an account at Bank Of America (No fees until you’re 23): Bank Of America

Most people would give you the whole run down on budgeting, but I’ll just give you the TLDR: Don’t spend money you don’t have (AKA: If you don’t have the money on hand, don’t spend it).

Onto obtaining your first credit card… (Please note: you will be extremely limited if you have 0 credit history)

  1. Find a starter card to apply for, if you have no credit score I recommend: BankAmericard® Secured Credit Card. If you have a credit score, I recommend Discover it® for Students.
  2. Read the terms and conditions for the card
  3. Does the card have a minimum annual income? (Yes you need a income in order to get a credit card)
  4. If you meet the minimum annual income than congrats, it’s time to apply.
  5. Approved? Wonderful, you don’t need step 6.
  6. Denied? Pick up the phone and call their reconsideration line.

If you have any questions, feel free to comment.

Tags: Student Credit Cards, Credit Card Guide, How to get your First Credit Card

 

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