Should I apply for a real credit card or a store card to boost my credit score?
I’d say get a real card and avoid store cards, ask your bank if the secured card can be changed to unsecured. Links that will help: Bankrate.com lots of good info and comparison shopping for credit cards – avoid ones with annual fees. A few things to avoid Lifehacker link about store cards
You don’t say where you originated from. I came to the US from the UK, so I was able to have my UK bank (HSBC) set me up a bank account and have me issued with a real credit card through HSBC USA on my arrival. If you cannot transfer your credit record to an affiliate bank, then avoid store cards and go for a real credit card. You may find that all of those mailshot offers do not translate to credit – a friend of mine received these, but was still turned down for a credit card until he had been working for two years. swarkentien is correct: American Express have some good cards that are slightly easier to obtain – try their Blue card account – this is a regular credit card (does not need to be paid off each month) and you should be good for a relatively low credit limit if you are working full-time. You could also try one of the local banks – call in and see a bank advisor. They can often pull strings if they feel you are a good risk.
Welcome to the USA. Offers of credit cards, even those that say pre-approved are usually just invitations to apply. The fine print usually says something like “subject to approval.” Store cards are definitely in the middle tier between secured and unsecured multi-purpose cards such as VISA. Personally I like my Sears credit card. Sears merchandise is high quality and they offer service contracts, extended warranties on the what they sell. So I would recommend them as a next step. You can use a Sears card to charge a number of outside services. Sears offers their own Master Card, so ater establishing a good credit history with the Sears card it should be easier to obtain their Master Card. I have found that American Express cards are not that difficult to obtain. The regular card is due in full each month.
Related Questions
- Current credit card regulations do not allow us to store the Card Verification Value (CVV) codes with the credit card information in our database. For more information, see Why can I capture the CVV code for credit cards for Point of Sale transactions?
- Should I apply for a real credit card or a store card to boost my credit score?
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