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Credit Cards!!!???*

Hi, I never ever had a credit card before and I am 21 years old. I was thinking about getting one just to have incase of emergencys- but I want a good one, that will give me rewards and a reasonable interest. The only issue is that I am not sure what a "reasonable" interest rate would entail? Or what company has the best benefits, for that matter? If anyone knows anything and has done research, could you just help me out with advice on which credit card (company) to get? I have done research on a UPromise credit card- for college- does anyone have experience with this program and is it good?

Answers:

1) You need to open a checking account at a bank and ask for a credit card.

2) never heard of it. But if you are just starting out, unless you have good credit, probably 14% is about the best you can get.. Visa has 9.9 but it may depend on your credit established how well you get on percentage..PLEASE don't except one over 20% That is a rip off..My brother has owed on credit cards and owed the govt. etc. now for 15 years after taking out loans for college..I would not advise getting to deep in.I hear the credit card companies thrive on college students..and the interest rate.

3) If you have never had a credit card before, it is going to difficult to get a good interest rate. Rewards cards usually don't have the best rates. They charge a percentage or two more interest than they should, to pay for the rewards. With no credit history: You can apply for as many cards as you want, but more than likely, they are going to give you a high interest rate if you are approved. On the internet the rates you see are the minimum, that they can charge you. Make sure you read the fine print about the interest rate. Your best bet is to go to a local bank or credit union and speak to someone in person. That way if you have questions, you can ask. Ask the for a credit card designed for people with no credit. You can also ask them for a "secured credit card" they are the easiest to get.

4) Bank of America has the option of secured visa credit card, you pay a fee of $29 per year and probably a $99 security deposit will be required if you don't have credit history, it will be reimbursement in 1 year. I think you can get an interest rate around 15 or 16%.

5) If you only intend to establish credit history with a 'emergency' card, then you don't need to be too concerned with the bells and whistles of rewards and such. Your best bet is to shop around for the lowest interest rate possible and then maximize your credit potential. Get a card and keep your usage below 25%...do NOT max out your card...do NOT pay late or skip payments. Keep up a perfect payment history and before long you'll qualify for a low-interest rewards card. Remember you're just starting out...you're a risk the card company has to take. Prove to them that you're worth it.

6) I have heard of U promise but I've never had experience with any of their credit cards. All of the advice so far has been good, shop around for the lowest interest rate and also watch out for fees. This site will allow you to browse over 100 different cards from all issuers. You can narrow down your search in order to look for rewards or incentives if that's what you're interested in. You can compare interest rates and benefits and see which company and/or card looks right for you. http://morecreditoptions.NewCreditApplications.com

7) I think you should try prepaid visa and they will report it to your credit too, lots of people from Yahoo tried this one: go to : http://www.slicemypayments.com/Credit-Cards.aspx?Id=26 use the Editor's choice. let me know If you have any other question, i will help you step by step. Good Luck

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