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What are some good scores for cc thanks

Posted: Sun Aug 29, 2010 5:59 pm Post subject:

Hi, having a score in the range of 720+ is good for getting approved for a credit card. But thats just for the fico part of it.

millamenache_ece · Joined: 20 Jun 2010 Posts: 24 6.36 Dollars($)

Yes a fico score of 720+ along with the other credit card requirements is good enough for most credit cards out there as long as the other credit bureaus are showing a fico in and around the same range as all credit card companies pull from different ones.

Guest

hey whats better for a young student like me... cards with rewards or 0% interest

gmakerley · Posted: Wed Sep 01, 2010 10:43 am Post subject:

Rewards cards are generally overrated. You'll pay fees for the benefit usually, and your spending habits have to be pretty robust in order to truly benefit. Zero-percent interest plans are likely also to have fees in place. As a student, you need to be conservative in your approach to credit cards. Don't be like the previous generation that went hog-wild and into serious debt, ruining credit scores in the process.

millamenache_ece · Joined: 20 Jun 2010 Posts: 24 6.36 Dollars($)

Depending on your credit score, will this be your first credit card? if so they have student cards for people with little or no credit history. As if this is your first credit card you might have a hard time getting approved for a card and they have special cards for students that are a little easier to get approved for.

gmakerley · Posted: Fri Sep 03, 2010 10:27 am Post subject:

Someone seeking a first credit card would be wise to consider going the secured card route. Stay away from those companies that are based in Delaware (which has the country's least stringent banking laws) and are predominantly internet-based. Seek out local banks and/or credit unions that might offer secured cards, our some of the national lenders who do it also. I am aware that Bank of America offers such a card, and I'm sure that credit unions in various parts of the country will also do so. They do it in my local area, leading me to this conclusion.

"Student" cards aren't necessarily going to be a beneficial method of obtaining your first card, by the way.

millamenache_ece · Joined: 20 Jun 2010 Posts: 24 6.36 Dollars($)

Yes george you are correct as secured cards are a great way to start building credit but some of these cards do come with some high fees.

gmakerley · Posted: Thu Sep 09, 2010 10:32 am Post subject:

And that's exactly why I steer people away from the First Premiers of the world. Their fees are exorbitant and unfair and the main reason so many of their account holders end up in default.

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