Credit Card

What You Should Know Before Opening a New Credit Card

March 15, 2021

You won't be able to qualify for the most value credit cards if you're a newbie to credit, such as those with rich rewards and privileges, substantial sign-up bonuses, or long 0% interest periods. Applicants with good or exceptional credit (scores of 690+) and longer credit histories, as well as those who fulfill specific income requirements, are eligible for those top-tier products.

You'll probably need to start small with your first credit card, with a product geared for people with little or no credit history. However, it's not all bad news: many of these cards provide attractive rewards and have no annual fees. Think about the following possibilities:

  • Student credit card is one that has been specifically designed for college students. 

  • Cash deposit card, also known as a secured credit card, is one that requires a cash deposit. 

  • Credit card designed for people with fair credit, defined as a credit score between 630 and 690.