Question
this is the situation....
My brother who has no credit history would like to get his first credit card. He said when he applied, they asked for a cosigner. So he asked me to cosign.
I really dont want to do this because I dont want to put my 800 FICO score at risk. I also dont want to look like the selfish family member. So I would like to give him a list of credit cards that someone can get with little or no credit history instead of just telling him no. Every one needs to get a first card to establish credit at some time. My first was citibank driver's edge in 1999.
Any recomendations? what are some good starter cards?
Answer
I suggest you read this message...
http://flyertalk.com/forum/showpost.php?p=6798544&postcount=20
..and the subsequent replies. There are some unrelated issues in the thread, but this message is directly on point.
Answer
You could also go the secured card route or have him get one through his bank (assuming he has a checking/savings account with them). Those are easy to get.
Answer
Go to www.citicards.com and pick cards for a college student:
http://www.citicards.com/cards/wv/showSearchResults.do?constituent=COLLEGE
The one link only had 1 card but there are actually a variety to choose from.
Answer
id try amex, like starwood, before going the secured route.
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id try amex, like starwood, before going the secured route.
Surprised to see you recommend the SPG Amex. :rolleyes:
I disagree with you there. Most people don't need a card with an annual fee for their first card.
Answer
thanks every one.
mtparadis: I agree with you.I dont think he is ready for a card with an annual fee
mia; boilers: I am going to reccomend to him the student card from citi and capitol one.
Question. so basically a student credit card with a little lower credit limit and more forgiving of the credit score. correct?
Answer
In my understanding a "student" card is designed for someone with little or no credit history. However, if your brother has a poor history these cards may still reject the application, but I do not think there is any harm to trying.