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My Very First credit card?*

i am planning to get a credit card with $3000 inside. I am 19 and my income is $950/month and i have NO expenditures as all my expenses are covered by my uncle and mom..I already have my accounts in a bank .This will be my VERY first credit card ive ever got (no credit history) with very low interest rate (7.9%). Do i need a co-signer only for the first time i apply for credit card?... my main goal is to get $3000 in my credit card till july...but i should build my credit score for that amount? how else can i get it?

Answers:

1) Credit cards are not a good idea. They are for people that are irresponsible with money. Credit cards along with the fico score was designed to get people into debt and keep them in debt. If you pay as you go. If you live on less money than you make. You will not have any payments. You will have money and you will not have to worship at the alter of the almighty fico score.

2) Firstly I doubt they will give you a credit card with a $3,000 limit for your first card. Secondly I also doubt you'll get a rate of 7.9%. Thirdly why on earth do you want to build a credit score? It's a I love debt score. If you have debt you owe other people, ie the credit card companies. If you have no debt you have cash and with cash you can buy anything you want and owe nobody anything! Don't get a credit card, you will regret it.

3) As long as you have a decent income you do not need a co-signer. I can pretty much tell you that you will not immediately get a 3000 dollar limit because of our age and non credit history. You may get a 1000 dollar limit so I would try Capital one first it's for people with limited to no credit like college students they have the best card with no hidden fees an just an annual fee of $19 and also 0%APR for the first 6 months I have their card and it's great. They gave me a 1000 limit and I just have 1 more from Orchard bank which gave me a card for 300. If you want a higher balance go with capital one and they will do periodic increases every couple of months up to a limit of 3000 I believe. That's what i have and I'm 22 I got both cards in July no cosigner. If you go on creditcards.com you'll be able to find the card quickly just look for the $19 annual fee, there is only one card. Good luck

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