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One Response to “What is the best recommended credit card?”
**In response to the second answer that was posted – that individual obviously does not understand credit nor does it sound like he/she has any credit. Not having any credit cards is very damaging to your credit history. It basically keeps you from having any credit at all, and so when you go to apply for that car loan or that mortgage, you will either be denied or get a really high interest rate. This is especially true now, after all these financial problems hit the surface. You HAVE to get at LEAST one credit card. Its not heart surgery – simply be responsible in the beginning to prevent yourself from overextending yourself. Good idea is to only charge something on your card for which you have the actual money in your bank account. That way when the bill comes in, you have the money to pay if off.**
Capital One is a very common beginner credit card for people who do not have any credit. They will increase your credit limit I think every 6 months if you pay on time. Orchard Bank is another beginner credit card. They will give anybody a credit card. Both of these do not have an annual fee.
If you have at least some credit history, I would go for the Chase card or Citi card. Both of these are respectable credit cards and are not impossible to get.
I would stay away from American Express and Discover, since it sounds like you don’t have much credit established, and these cards are very difficult to get.
Also, it is a very good idea to get a credit card through your own bank or credit union. A credit union credit card is very good, and they offer low APR’s.
You will not get a high limit card right away, but if you pay on time EVERY time, your limit will increase probably double by the end of the year.
**Also, if you go to visa.com or mastercard.com, you can actually browse a ton of banks that offer credit cards with different rewards/cash back programs. Also, you can take a brief survey that will ask you how your credit is, and then the system will bring up a number of credit cards that fit your situation.**
**In response to the second answer that was posted – that individual obviously does not understand credit nor does it sound like he/she has any credit. Not having any credit cards is very damaging to your credit history. It basically keeps you from having any credit at all, and so when you go to apply for that car loan or that mortgage, you will either be denied or get a really high interest rate. This is especially true now, after all these financial problems hit the surface. You HAVE to get at LEAST one credit card. Its not heart surgery – simply be responsible in the beginning to prevent yourself from overextending yourself. Good idea is to only charge something on your card for which you have the actual money in your bank account. That way when the bill comes in, you have the money to pay if off.**
Capital One is a very common beginner credit card for people who do not have any credit. They will increase your credit limit I think every 6 months if you pay on time. Orchard Bank is another beginner credit card. They will give anybody a credit card. Both of these do not have an annual fee.
If you have at least some credit history, I would go for the Chase card or Citi card. Both of these are respectable credit cards and are not impossible to get.
I would stay away from American Express and Discover, since it sounds like you don’t have much credit established, and these cards are very difficult to get.
Also, it is a very good idea to get a credit card through your own bank or credit union. A credit union credit card is very good, and they offer low APR’s.
You will not get a high limit card right away, but if you pay on time EVERY time, your limit will increase probably double by the end of the year.
**Also, if you go to visa.com or mastercard.com, you can actually browse a ton of banks that offer credit cards with different rewards/cash back programs. Also, you can take a brief survey that will ask you how your credit is, and then the system will bring up a number of credit cards that fit your situation.**