I have no credit cards. I have zero debt, except for student loans which are current.
What is the minimum score needed for a regular credit card like a mastercard or visa? My income is 70,000 a year and no debt. No mortgage, no car loans, I do have a car and its insured I owe nothing on the vehicle.
THANKS
amb
Get a credit card from local bank and pay it in time. You also can use this service to avoid common mistakes while buiding credit and pre-estimate future scores for different scenarios of payments – credit-report-score.10001mb.com
I am in the same situation that you are in, except I don’t make quite as much as you. If you are willing to fall for their scam, then from your posting, you’ll qualify. But they will use the excuse "you have no credit history" to justify a high interest rate.
You don’t need a credit card. I was able to secure a car loan AND a mortgage (at different times) without any credit cards. My income and my saving balances qualified me for the loans.
No one NEEDS a credit card to build credit. CC issuers have been running this scam for years and years. A savings account is a better indication of your ability to manage your finances than a bunch of credit cards. With a credit card, you are BUYING a credit profile through high interest rates and annual fees. With a savings account, you are EARNING a credit profile. But they do not care about your ability to save money. They care about your willingness to spend money. They want their card holders to get into as much debt as possible so they can make as much money (interest and fees) as possible for the CEO and stockholders. They could not care less about their customer’s financial burdens or how the CC issuer got them into that situation. The important thing is that it takes individual responsibility to keep that from happening.
With everything you described I think you’re qualified for unsecured credit card… But you can choose which one is best for you.. Secured vs unsecured
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