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Best Credit Card for people with NO Credit


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Hello,

 

It's good to be back after a long hiatus. Boy I've been going through threads and discussions for 6 hours now and I can't put my finger on the correct answer.

I am trying to help someone new in the country build their credit from scratch. They had applied for a Cap1 platinum to no avail. I know store cards are a good start but which one. Some of the info I read seems outdated. Can you guys help?

 

Also they need a Credit card because they travel a lot and need to rent a vehicle from time to time.

 

Finally, I am glad this topic brought me back here because I needed to brush up on my credit knowledge.

 

Thank you all.

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The surefire way is for you to add them as an AU on a couple cards. They'll eventually have a score and can move forward from there.

 

Otherwise I'd have them walk in to a local credit union that offers a secured card and start a relationship.

Yup!

You can even shred the cards so they can't be used, they just show up on their credit report.

I piggyback friends and family every now and then.

It is best if they have their own primary, so a secured is also a good idea.

Open Sky will give a secured without a HP. good luck

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The surefire way is for you to add them as an AU on a couple cards. They'll eventually have a score and can move forward from there.

 

Otherwise I'd have them walk in to a local credit union that offers a secured card and start a relationship.

this..again

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BTW is OpenSky upgradable to unsecured cc like the Cap1 QS?

No. With the AU cards and 1 primary, after a few months, they can get most anything. Been there done it many many times.

Just make sure you add them to an older line with a decent limit and low utilization. good luck

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BTW is OpenSky upgradable to unsecured cc like the Cap1 QS?

No. With the AU cards and 1 primary, after a few months, they can get most anything. Been there done it many many times.

Just make sure you add them to an older line with a decent limit and low utilization. good luck

 

If you can't do the AU thing, Discovers' secured card is by far the best choice (as far as secured cards).

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Well, the fastest way to get real credit is to have someone add him/her as an authorized user on a credit card. That should get the person at least a 650 FICO immediately. If this person is your friend, help him/her out or find someone on the forum willing to do so. Alternatively, there are websites that sell tradelines, but expect to Shell out at least 400 bucks.

 

A secured credit card will get your friend credit in about six months' time. If your friend just needs a card to pay with, a debit card can do anything a credit card can, and there's no fee involved.

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Well, the fastest way to get real credit is to have someone add him/her as an authorized user on a credit card. That should get the person at least a 650 FICO immediately. If this person is your friend, help him/her out or find someone on the forum willing to do so. Alternatively, there are websites that sell tradelines, but expect to Shell out at least 400 bucks.

 

A secured credit card will get your friend credit in about six months' time. If your friend just needs a card to pay with, a debit card can do anything a credit card can, and there's no fee involved.

 

any suggestions?

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We officially oppose the purchase of tradelines, but having a family member add an AU is the best way to help someone get started. Only get store cards if you shop at that store and get a discount for using the card, and never carry balances on store cards - it more than takes away any advantage you get from the discount for using the card.

 

Heg!

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