If you have no credit, limited credit, bad or good credit, this blog will help you learn all the basic credit card stuff you will want to know. There are many sites out there that deal with credit cards, but this blog will be based on my own personal experience and knowledge. You should of course read other sites to confirm any information here.
I have over 20 personal and business credit cards including visa, mastercard, American express, and discover. They all have their advantages and disadvantages. Hopefully, you will find the information I post on my blog beneficial to your needs.
When I first started building my credit history, it was a challenge because creditors didn't want to be the first to grant you credit. I first started with the instant approval cards at the major retailers. This seemed to be the best way to get started for me. I didn't want to pay annual fees and I was just a student with a part time job. At the time, I didn't understand why the major credit card companies didn't want to grant me a visa or mastercard with a modest credit limit.
I have been in the credit industry for about 20 years now. My perspective has dramatically changed from what I thought was something I deserved vs what credit companies are really after. They are like any other business who want to make a profit and the way to accomplish this is to reduce risk by approving credit applications to those who have proven themselves.
When I was 18 years old, I wanted to have a credit card for the sake of having a credit card. That really doesn't make any sense, but when you are a kid like me you get obsessed with certain things. For me it was building my credit so in the future I could buy things on credit like a car and house and get those loans at the cheapest rates.
Originally, I applies to 4 major retailers for their charge cards. I was approved for 2 of them. I didn't shop at those places, but forced myself to buy things I didn't need so I could pay them back. That is simply how you establish credit.
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