Which credit card should I sign up for If I am looking to establish credit. And want to raise my Credit score "590 current" and yearly income 40,000 "credit card limit of $2,000"
Good evening Padawan73, welcome to the forum, glad to see that you have registered that is a really good start. I am new to this forum myself. Your question about which credit card you should sign up for probably will not be answered here. This is not that type of forum, here you will find information on what to look out for and read some peoples bad experience, but as far as advising what card to apply, the forum members will not advise you.
Some things that you will want to take into consideration before applying for any card will be.
What is the interest rate? How long does this rate remain in effect? Does the interest rate go up after a certain amount of time? Is there a maintenance fee? What are the penalties if you are late on a payment? Is there unemployment insurance available with this card, should you become unemployed, your payment will be made for you. Just be aware that not all are customer friendly and know what and if there is an arbitration agreement that goes along, just in case you find yourself unable to make the payments.
Hope this helps you in your quest for information, there are alot of offers out there, just becareful and don't be eager to get one, this can lead into deperate decisions.
You will want to read all the fine print, don't just blow through this because this is what will come back and haunt you later.
I have some other questions for you though?
1. Do you intend to transfer any balances over to the new card?
2. Do you have anyone with really good credit that could apply with you, this may lower the APR?
3. Why do you need such a high credit limit from the start? Could you start out lower and build it up?
As lunch time said, there are alot of offers online, so you can apply for just about anything you want online. I would say becareful, read the fine print, make sure that you print everything off so you have a hard copy, just in case you don't get hard copy in the mail. I hope you find what you need.
Once you look at some cards, you can always come back here before you apply and ask if anyone has had any experience with the company, then you may get more information that way too.
Many good suggestions and thoughts have been given...
FWIW....
My situation....Total household income.....106k
Credit score... close to yours but not over...
Could not get a decent card (better ones that I currently have), so I just kept the ones I have...
Each case is different, however, with the financial uncertainites that have cropped up in this country, getting a good starter card will take some work to find....
I would try Orchard... or something very similiar... Pay it ON TIME, EVERY MONTH, and you MAYBE able to raise the limit....
Stay away froim cards that make you pay HUGE fees like Preferred cards.. For example, they give you a 250 dollar balance but all the start up fees you wind up getting a $71 credit at the beginning.... the fees are just ridiculous...
Good evening Padawan73, welcome to the forum, glad to see that you have registered that is a really good start. I am new to this forum myself. Your question about which credit card you should sign up for probably will not be answered here. This is not that type of forum, here you will find information on what to look out for and read some peoples bad experience, but as far as advising what card to apply, the forum members will not advise you.
Some things that you will want to take into consideration before applying for any card will be.
What is the interest rate? How long does this rate remain in effect? Does the interest rate go up after a certain amount of time? Is there a maintenance fee? What are the penalties if you are late on a payment? Is there unemployment insurance available with this card, should you become unemployed, your payment will be made for you. Just be aware that not all are customer friendly and know what and if there is an arbitration agreement that goes along, just in case you find yourself unable to make the payments.
Hope this helps you in your quest for information, there are alot of offers out there, just becareful and don't be eager to get one, this can lead into deperate decisions.
You will want to read all the fine print, don't just blow through this because this is what will come back and haunt you later.
I have some other questions for you though?
1. Do you intend to transfer any balances over to the new card?
2. Do you have anyone with really good credit that could apply with you, this may lower the APR?
3. Why do you need such a high credit limit from the start? Could you start out lower and build it up?
As lunch time said, there are alot of offers online, so you can apply for just about anything you want online. I would say becareful, read the fine print, make sure that you print everything off so you have a hard copy, just in case you don't get hard copy in the mail. I hope you find what you need.
Once you look at some cards, you can always come back here before you apply and ask if anyone has had any experience with the company, then you may get more information that way too.
Hey Padawan73..
Many good suggestions and thoughts have been given...
FWIW....
My situation....Total household income.....106k
Credit score... close to yours but not over...
Could not get a decent card (better ones that I currently have), so I just kept the ones I have...
Each case is different, however, with the financial uncertainites that have cropped up in this country, getting a good starter card will take some work to find....
I would try Orchard... or something very similiar... Pay it ON TIME, EVERY MONTH, and you MAYBE able to raise the limit....
Stay away froim cards that make you pay HUGE fees like Preferred cards.. For example, they give you a 250 dollar balance but all the start up fees you wind up getting a $71 credit at the beginning.... the fees are just ridiculous...