Where Should I Go to Get a Credit Card if I Do Not Have One?

If you currently do not have a credit card open, and you would like to have good credit, you must establish yourself with one. Many of you may ask, “If I do not have any credit, or have bad credit, how am I going to get approved for one?”. That’s a great question that many of my clients ask.

Secured credit cards are meant for people with no credit or less than perfect credit. They are labeled as “Secured” because they are actually secured with a refundable deposit that you must provide before they will issue you a card. After the expiration of the “probationary period” they typically will refund your deposit. You must keep the card in good standing in order to be eligible for the refund of the deposit.

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Be careful! Many of the companies that issue these cards have hidden fees that you will not be aware of unless you carefully read the terms and conditions of the card agreement. There is one that I have come to find that is the fairest in regards to fees. See Capital One’s website and view their Secured MasterCard application. Often, the application can be done online. They do not charge ridiculous fees for their secured cards, but you should read the terms and conditions, in particular the “fees” section.

Also, if you are considering going out and applying for an unsecured credit card, you may want to consider trying to open a gas card or department store card before applying with a major bank or lender such as Chase or American Express. They typically have higher requirements on who they will issue an account toYou do not want to endure the loss of points in your score in by applying for a card that you will be denied.

If you have any questions or comments in regards to a credit card or any other credit-related questions, give us a call at 214-207-1907.
Or, submit your information via our contact form and we will reach out to you for a introductory consultation.

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