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:
- Do you have a Social Security Number (SSN)? If not, this guide is not for you. I will provide you one in the future.
- Check to see if you have a credit score, I recommend: CreditKarma
- If so, skip to the next paragraph… If not, do you have a checking account?
- 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)
- Find a starter card to apply for, if you have no credit score I recommend: Discover It Secured or the BankAmericard Secured Credit Card. If you have a credit score, I recommend Discover it for Students.
- Read the terms and conditions for the card
- Does the card have a minimum annual income? (Yes you need a income in order to get a credit card)
- If you meet the minimum annual income than congrats, it’s time to apply.
- Approved? Wonderful, you don’t need step 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