Introduction

Embarking on the journey to build your credit can be daunting. The classic conundrum of needing credit to get credit, similar to needing money to make money, often leaves newcomers perplexed. This article provides practical tricks to help you get approved for your first credit card.

Strategies to Get Approved for Your First Credit Card

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1. Open a Chase Bank Account

If you open a Chase checking account and deposit $250, you can get approved for the Chase Freedom Rise℠. You can apply for the card immediately after opening the account, provided the $250 is deposited within 48 hours of the application.

2. Piggybacking Credit

Being added as an authorized user on someone else's credit card can jumpstart your credit history. Ensure the credit card issuer reports to the credit bureaus and includes the complete history. Being an authorized user on a well-maintained account with a long history can reflect positively on your credit report.

3. Secured Credit Card

Secured credit cards are an excellent way for newcomers to build credit. You provide a deposit that acts as your credit limit, essentially lending you your own money. When selecting a secured card:

• Avoid cards with high fees.
• Ensure the card reports to all three major credit bureaus.
• Research the card issuer to confirm their credibility.
• Look for cards offering additional features like free FICO scores or rewards.

4. Store Cards

Store cards are typically easier to get approved for and come with various store-related benefits. However, they usually offer lower credit limits and higher APRs. Note that store cards might not influence your credit score as significantly as general-use cards.

5. Authorized User on an Amex Card

Being added as an authorized user to an Amex card can enhance your chances of approval when you apply for your own Amex card, especially if you choose cards like the Delta Gold. Amex usually pulls credit only upon approval, reducing the risk of a negative impact from the application.

6. Joint Card

As a last resort, consider a joint card with someone who has a strong credit history. This option is available with issuers like US Bank, Bank of America, and the Apple Card.

Conclusion

Building credit requires strategic steps and patience. By utilizing these tricks, you can pave your way to obtaining your first credit card and building a robust credit profile. Remember, each credit activity shapes your financial future, so choose your actions wisely.