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How do you get a credit card if you are 18?
hi i turned 18 and im trying to geta credit card to establish my credit but all these companies are rejecting me because i dont have enough successful history. how do you get credit history if you cant even get a card?? its stupid. does anyone know a company i can get one with that wont give a problem? and not those ones where you got to pay a deposit to get. like a actual credit card.
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When you're just starting out, it can be difficult because you have no credit rating.
You really have four options:
1) Does your bank offer a credit card? I bank with TD Canada Trust (who now has branches in the States) and they have a student credit card. It's only a $500 limit, but it's a start.
2) The ones where you have to pay a deposit are real credit cards. They're called "secured" credit cards, because your limit is equal to the amount you put down. They require this because they don't know what your habits are like (due to lack of credit history) and they need some assurance that you can pay the balance. Capital One does these. They do count towards your credit score, so they can be a good option.
3) Wait until you go to college. You'll see stands all over during the first few weeks of school, with cards catering to students. They have more lax credit requirements.
4) Build your rating. If you don't have bank accounts, get one now. Get a cell phone on a plan and pay on time every month. That'll help you to build a better score.
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Before you get a credit card, you have to have had a bank (checking) account. It also helps to have had a debit card with no history of overdrawing or problems.
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