eHow launches Android app: Get the best of eHow on the go.

How To

How to Get Approved for a First Credit Card

Contributor
By Nicole Hoelscher
eHow Contributing Writer
(1 Ratings)
Getting your first credit card opens the door to creating a great credit rating.
Getting your first credit card opens the door to creating a great credit rating.
Steve Woods

If you need a credit card, but have never had one, you face a frustrating situation. You are likely to be denied for many credit cards due to the fact that you have not established a credit history. However, the only way to get the credit history you need is to get approved for either a secured or non-secured credit card. Getting your first credit card may require a little bit of digging and creativity. However, you can get a credit card without much credit history if you are persistent.

Difficulty: Moderately Easy
Instructions

Things You'll Need:

  • Computer
  • Internet connection
  1. Step 1

    Talk to your bank. Ask your bank if you can apply for a credit card. It will probably have a low balance, but it will give you the chance to increase your credit score and get a card with a higher limit at a later time.

  2. Step 2

    Get a small loan from your bank. Again, your existing accounts with your bank will help you establish some credibility, even though you do not have much of a credit rating.

  3. Step 3

    Get a department store credit card. These are easier to be approved for and are reported to the credit bureaus. Pay the card on time to increase your credit rating.

  4. Step 4

    Apply for a credit card with a low balance. Some credit card companies will offer first-time credit card applicants a credit card with a low balance.

  5. Step 5

    Consider a co-signer. Find a person with a good credit rating to co-sign for the card.

  6. Step 6

    Use a secured card. A secured card requires you to put down a deposit on the card.The deposit cashed if you fail to make a payment. This is the fastest way to get a credit card and raise your credit rating.

  7. Step 7

    Use the Internet to compare offers. Make sure that you read all of the fine print to avoid unnecessary fees and charges.

Tips & Warnings
  • Your first credit card may have a high interest rate. No matter how responsible you are, without credit history, you are considered a "high risk" applicant..
  • Do not avoid a card simply because of its interest rate, since you probably won't get another offer.
  • Use caution with any online offer. Many are riddled with fees and charges. There are many other options for getting your first credit card that are much more affordable.
Subscribe

Post a Comment

Post a Comment

Related Ads

  • Have you done this? Click here to let us know.
I Did This
Get Free Personal Finance Newsletters

Copyright © 1999-2009 eHow, Inc. Use of this web site constitutes acceptance of the eHow Terms of Use and Privacy Policy.   en-US Portions of this page are modifications based on work created and shared by Google and used according to terms described in the Creative Commons 3.0 Attribution License.

eHow Personal Finance
eHow_eHow Business and Finance