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Getting Your First Credit CardGetting your first credit card is not as difficult as you think. In fact, much of the credit crisis we current see is because credit card companies have been too forthright in giving out credit cards. There are a number of resellers of credit cards, on behalf of the major credit card companies. These cards carry both the brand of the credit card company and the credit card issuer. The main credit card companies are:
Issuers of credit cards include:
Your best chance of getting an unsecured credit card is from someone with whom you already do business. This could be any of the above. Sometimes, the smaller retail stores are easier to get a credit card from than larger issuers. They may only provide you with a very small credit limit, but if you make sure you pay off the minimum amount of credit card debt each month, you can later apply to have the credit card limit increased, or apply for another card with a higher credit limit from another issuers. You have built up a good credit history, so your credit score will have increased since you applied for your first card.
The other sure way to get a credit card is to be in debt. Seems crazy, but because you already hold a debt loan and have a history of making payments against the loan, you have established a credit history. This also applies if you have got a bad credit history. Start a new one. Get a small loan or revolving credit limit and consistently pay it off to reestablish your ability to pay your credit cards on time. And from time to time, pay off the balance completely. Next: How to Choose a Credit Card
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