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The history of credit cards.
Used mainly for travel and entertainment the Diners Club Card claims the title of the first credit card in widespread use. Although its purchases were made on credit Diners Club was technically a charge card meaning the bill had to be paid in full at the end of each month. By 1951 Diners Club had 20000 cardholders. The American Express card which launched in 1958 had an altogether different provenance. Formed in 1850 as a competitor to the U.S. Postal Service American Express had introduced money orders in 1882 invented travelers checks in 1891 and contemplated a travel charge card as early as 1946 before Diners Club beat it to the punch.
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Best First Credit Card for 2017 The Simple Dollar.
BankAmericard Credit Card for Students. Capital One Platinum Credit Card. Best for Building Credit. What should you look for in your first credit card? The first thing to look for is a card thats designed for someone with your credit profile this increases the likelihood that your application will be approved. For those new to credit this means a card that is marketed to people with fair or average credit scores between 650 and 699. However if youve had serious credit problems in the past then you will have to apply for a card that is designed for those with poor or rebuilding credit scores below 650.
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Credit card Wikipedia.
There had been a dozen attempts by small American banks but none of them were able to last very long. In September 1958 Bank of America launched the BankAmericard in Fresno California which would become the first successful recognizably modern credit card. This card succeeded where others failed by breaking the chicken-and-egg cycle in which consumers did not want to use a card that few merchants would accept and merchants did not want to accept a card that few consumers used. Bank of America chose Fresno because 45% of its residents used the bank and by sending a card to 60000 Fresno residents at once the bank was able to convince merchants to accept the card.
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11 Things You Should Know Before You Get Your First Credit Card NerdWallet. download.
MORE What is a credit card? Why you should get a credit card. Credit cards come with numerous benefits. First and perhaps most important a credit card is a good tool to help you build your credit. Good credit can help you obtain future loans like a mortgage at the most favorable rates. It can also help you get approved for an apartment or cell phone avoid utility deposits and get lower insurance premiums. Aside from credit-building credit cards have many other perks. Many cards offer cash or travel rewards generally between 1% and 2% of your purchase price.
MoneySupermarkets guide to taking out your first credit card.
Getting your first credit card. Getting your first credit card. By Anita Shargall last updated 27 April 2017. Using a credit card enables you to build up a credit score or improve it and its a useful addition to your wallet in case of emergencies. But picking your first one can be tricky without the knowledge of which are available to you. Theres a wide range of credit cards on the market so its worth having a look at those available and their particular attributes before applying.
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How To Get Your First Credit Card. closeicon.
Without your own income you'll have to have a joint applicant who does have income to get approved for your first credit card. Where to get your first credit card. Major credit card issuers. If you're enrolled in college you have a very good chance of getting approved for a student credit card from a major credit card issuer. Don't assume every card with student in the title is a good deal. Some student credit cards have high-interest rates and annual fees both make a card a bad option for a first credit card.
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Get Your First Credit Card! 2017's Best Offers.
What are the most important things to look for in your first credit card? By John Kiernan Credit Card Editor. Getting your first credit card is an essential often daunting rite of passage no matter how old you are when it comes. Most people think of credit newcomers as being college students but first-time applicants come in all shapes and sizes. Many are simply late to credit-building class so to speak. Others such as immigrants and divorcees are merely responding to a recent change in circumstances.
Personal Credit Cards First Bankcard.
Credit Card Debt Consolidation. How the Interest Rate Affects Credit Card Balance. How to Pay off Credit Card Balance.
Best Credit Cards For Young Adults 2017 Money Under 30's Top Picks.
Some issuers are also beginning to offer tools to help you see if youre pre-qualified for their cards without affecting your credit. Details Best first credit cardsno credit. If youve never had a credit card or loan before a secured credit card offers your best chance of approval. If you have no credit or very limited credit youll need to read up on building credit for the first time. In some cases youll need to get a special type of product called a secured credit card that works like a debit card with money you deposit in a bank account but helps you build credit. Capital One Secured Mastercard.

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