if you have no credit history, better check some local credit unions. They'll have secured cards with no charge. Only catch is, you need to open a savings account with them.

I opened my first credit card with co-operative services credit union (www.cscu.org) in michigan. $2(two dollar one time) for membership and $500 savings account got me my first secured VISA card. This is better than the Wells Fargo and BOA secured cards that charges $18 and $29 per year as fees. Also you get interest on your savings account.

Thanks, good points here. I should clarify that I have credit, I'm just in the process of repairing it after being stupid in college. I know there are cards out there that I can qualify for, but don't want to rack up unnecessary inquiries.

As far as the scores, I am in the process of buying a first house and have found that the My Fico site has been completely accurate in giving me the same scores as my mortgage brokers are getting. It's more expensive, but the accuracy is worth it.

I hate to do this, but if there's a thread somewhere for people like me trying to obtain credit cards as part of the repair process I haven't been able to find it, so I'd appreciate a point in the right direction if you know of one.

Thanks!

I have the following credit cards:

Bank of America World Mastercard for Billpayment feature
Bank Of America American Express for low cost cash advance (1.90%)
Chase Visa Signature (0% Purchase RATE for 15 mth with REBATE program)
Chase Freedom Mastercard World 3%/1% rebate card (had Chase Visa Platinum where a promo rate ran out so I converted it)
HSBC Direct Rewards 5% CashBack tiered card (up to 5%)
Discover Card which I was going to cancel but they came back with a nice promo BT rate. Will try to cancel again and see if they come back with any offers, if not I will junk it since I never use it.
and another Chase Visa Platinum with a 0% promo rate on it for 15 mths......
American Express Clear
American Express Blue

Had a Citibank rewards card but they lowered the rebate and gave me a low credit limit and so I cancelled it out.

vytautasvaicys said:How about GM Card? It gives 5% cash savings towards a new car purchase. Although its a shame they only let you get $500 in annual savings.

This is exactly the point of this thread, I'm glad you brought it up. I hear people mentioning this card but as far as I know you can't apply for it by phone or online anymore.

If you can provide one of those, feel free to contribute to the quick summary.

I am a student looking for a new CC and the mtvU card looks appealing to me, however I went to the website and noticed it said “5 points per dollar spent at restaurants, bookstores, record stores, movie theaters and video rental stores.” I are these 5 points equal to 5 cents? I looked at the Thank You network and the only thing I see in terms of getting a % back is redeeming thank you points for statement credits. And these are not good deals: $15 Statement Credit for 3,000 points. This means if I spend $600 on movies then I would get $15 back which is 2.5%. I am dumb and confused please help

tellyawhut said:I am a student looking for a new CC and the mtvU card looks appealing to me, however I went to the website and noticed it said “5 points per dollar spent at restaurants, bookstores, record stores, movie theaters and video rental stores.” I are these 5 points equal to 5 cents? I looked at the Thank You network and the only thing I see in terms of getting a % back is redeeming thank you points for statement credits. And these are not good deals: $15 Statement Credit for 3,000 points. This means if I spend $600 on movies then I would get $15 back which is 2.5%. I am dumb and confused please help

It's true that if you redeem your points for statement credits you only get 2.5% Cash Back. If you redeem them for gift cards or student loan rebates you get a full 5% Cash Back.

Ok, this thread has made a decision for me. I got the invite for the HB 2% (same card right?) $0af, accept by 4/1. This is almost 7 months after an app spree (4 cards, 3 of which are now sitting at high utils). Future plans were another app spree in Sep to BT around expiring offers. Wasn't sure I could pass this up, but now thinking I indeed can, yikes. Have Chase 5%/1%. Sounds like I too, should live with that or get an EmigrantDirect card and call it good.

EDIT: Arrgh, make "this thread" the thread linked in the summary of this thread to the HSBC/HB 2% card. I am surely some kind of moron as I have replied in the wrong open tab for the second time in three weeks.

Great compilation. I don't suppose everyone gets a card for so and so category, otherwise rewards would be split up everywhere.

For example might as well just use Chase Freedom for gas, restaurant, groceries or do some of you just use Discover gas for gas and Chase Freedom for restaurant,groceries.
I suppose depending on annual usage might be better of using 1 card for everything or splitting things up.

looking for card for 16 year old which would be in his name but i could be responsible for if he didnt pay etc.

Why not look into getting gift cards instead if this is for spending purposes? If it is for credit building, add the 16yo as AU but DO NOT give the teenager the actual credit card . Another option would be trying to open a checking account with a ATM/debit card, so purchases get charged directly to the account, and it's expensive to go over what's in the account.

motsuka said:looking for card for 16 year old which would be in his name but i could be responsible for if he didnt pay etc.