First credit card recommendations

[Shaun]

I’m 22 years old and don’t a credit card yet. I recently moved out to my own apartment, and I think that I need some sort of credit. What are your recommendations for a first credit card? Which is better? Anything special I should pay attention to?

[Kathie]

Secured Credit Card

You may not qualify for a normal credit card like American Express, Chase, Bank of America, Discover and a few others if you have no credit history. They all require a good credit history before taking a chance on you. But you do have a couple of other options, though.
You can start with a secured credit card that converts to a normal one after a year or so of timely payments.

Another option is a sub prime card. I actually used one when I was building my credit. Mine was a One credit card. They charge you about $100 as a yearly fee. You get approx $350 limit to start with, and after 6 months you can call for a limit increase – as long as you haven’t been late with payments and don’t hold high balances for longer than a month or so, you can get a $100 increases every 6 months.

Then, after a year or two you will have sufficient credit to get on of the major league’s credit card.

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