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Credit Card Applications » FAQs » Other Questions » im only 19 so i don't have a credit history and i only make about $12,000 a year. im trying to...

im only 19 so i don't have a credit history and i only make about $12,000 a year. im trying to build my credit up and most banks turn me down because of my low income. Im a very responsible person and i know i can keep up with the payments so where can i find a credit card thats right for me?

Date: May 5, 2008, 7:00 am
The content is accurate at the time of publication and is subject to change.
Well, your income is really not so high as required by most card issuing companies, that is a fact. But the worse thing is the lack of credit history, which does not allow creditors to estimate your risk. So, the firs thing is to start building your own payment history and second is to find one more source of income. There is a problem, however. You cannot qualify for a credit card because of you history and income, and this is a closed disk. Do not get frustrated, though. You can easily start off with a secured credit card offering credit lines of up to $10,000. You will be required to make a beforehand collateral deposit to be approved for the secured card and you may ask "What's the sense in such a card?". The sense is great, actually. Your regular monthly payments, your responsible card use will be reported to the credit bureaus and will build a strong credit history. You can also check cards for nor credit on our site, but be ready to pay hefty fees and great interest rates.
Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
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